COURSE OBJECTIVES & DESCRIPTION
This course in Managerial Accounting has been designed to enable the student to acquire the skills necessary to use, interpret and analyze accounting data. The ultimate objective is to enable the student to become a better manager.
The student should:
1. acquire an understanding of the principles used to prepare financial statements.
2. learn how to read and understand financial statements and to observe the effects of routine business transactions on them.
3. acquire the skills necessary to read, interpret and perform the calculations for the accounting reports involved in cost control and profit planning.
4. be able to identify financial strengths and weaknesses of a business through appropriate analysis Important management accounting concepts that are covered include the financial accounting process, including the preparation of financial statements in accordance with generally accepted accounting principles, accounting for a manufacturing concern, job order and process cost accounting, departmental accounting, cost-volume-profit analysis and the master budget.