Overview:

In this course,the principles and techniques of accounting are explained.Also,the students would come to know about its uses in the planning and control of business organizations from a management perspective.Identified are the budgetary process and related performance evaluation techniques, cost-volume-profit relationship, product costing methods, Just-In-Time (JIT) manufacturing, and Activity Based Costing (ABC). Related theory and application will also be reviewed.

Prerequisite:

• Candidates must have their own laptop and a good internet connection.
• They must have an account on Skype.

Course Content:

Course topics will include the following:

1. Control Systems, Cost Management Concepts and Cost Behavior.
2. Traditional and Activity-Based Cost Management Systems.
3. Organizational Design, Responsibility Centers, and Financial Control.
4. Management Accounting Information for Activity and Process.
5. Pricing, Product Planning and Investment Decisions.
6. Control Systems and Management Accounting or Strategic Purposes.
7. Performance Assessment over the Entire Value Chain.
8. Motivation of Behavior in Management Accounting and Control Systems.
9. Use of Budgets to Achieve Organizational Objectives.

Key takeways:

• Understand how managers use and analyze managerial accounting information to make decisions.
• Prepare an operating budget and understand where and how to acquire the necessary information
• Perform time value of money analysis using discounted cash flow technique. Interpret and explain the difference between net present value, internal rate of return and payback. Analyze a capital budget request.
• Collaborate with peers (co-workers) and communicate with instructor (manager) in a more professional and effective manner.