Management Accounting and Controls
This course is designed as a broad based course to provide managers with a conceptual framework in accounting and an understanding of the reporting, control, and analytical environment in which the accountant functions, and the interrelationship between accounting, financial management and general management.
The course deals with accounting concepts – development of financial statements – cash flow analyses – cost accounting, capital budgeting – management control systems – financial accounting practices – tax accounting – accounting for inflation and foreign operations.
The objective is to provide students with an understanding of the specific issues and the accounting concepts which underlie corporate financial planning. It will provide the student with an understanding of the role of accounting in controlling current operations and in planning future operations.
Course Learning Outcomes
Discuss trends in today’s business environment and analyze their impact on accounting.
Identify Cost Behavior Patterns and analyze variables and Fixed Cost Equation and Predict Future Costs.
Evaluate a company's operating performance using a balance sheet, an income statement, and ratio analysis.
Discuss the foundations of the balance sheet and income statement, and calculate financial ratios used for decision making.
Analyze opportunities to evaluate Financial information and apply them to identify business opportunities as well as weaknesses.
Identify internal control weaknesses and develop good internal control procedures over the daily operations of a company.