Accounting for Management: Concepts and Tools ON DEMAND

Overview

A primer on the basic theoretical concepts and the practical procedures of financial record keeping and reporting, and the use of financial and cost data in managerial decision making. It provides an understanding and working knowledge of the fundamentals of financial and managerial accounting that can be put to practical application in day-to-day jobs of managers. It also concentrates on providing a working vocabulary for communication. Topics include accounting principles and reporting trends, accounting conventions and systems, interpretation and analysis of financial statements; cash flow statement; break-even analysis; activity-based costing (ABC); responsibility accounting; budget for profit planning; short-term and long-term investment decision making. A list of computer software for accounting, ABC, and budgeting is presented.

Highlights

Nature and Scope of Accounting. Understanding Financial Statements. Recording Financial Information and Accounting Conventions. Analysis of the Financial Statements. Management Accounting. Product Costing Methods. Cost Behavior and Cost-Volume-Profit Analysis. Budgeting and Standard Cost Systems. Responsibility Accounting. Relevant Costs and Short-Term Decisions. Capital Budgeting Decisions.

Prerequisites

None.

Designed For

CPAs, auditors, consultants, and financial and management professionals.

Objectives

Recognize the primary statements used and the key areas of accounting. Recognize major accounting rule-making organizations. Identify the global focus in financial reporting. Identify the basic accounting principles. Identify the different types of business entities. Recognize the primary purpose and use of different accounting financial statements. Identify the format of the income statement. Recognize the double-entry system and the accounting equation. Recognize the system of debits and credits. Identify different depreciation methods and calculate depreciation rates.