Managerial Accounting and Finance Foundations

Course Description

This course provides students with the knowledge of accounting principles and financial tools necessary for effective managerial decision making. Problem solving topics include recognizing and minimizing the costs and risks posed by operations, developing effective operational planning and capital budgeting processes and managing more effectively a firm's investments.

Topics and Objectives

Overview of Managerial Accounting and Finance

  • Distinguish between managerial accounting and financial accounting.
  • Analyze the differences between functional-based and activity-based managerial accounting systems.
  • Explain the use of accounting and financial information in making informed business decisions.

Analyzing Financial Statements

  • Differentiate the purpose of each of the major financial statements from an accounting and financial perspective.
  • Analyze the statement of cash flows from a financial perspective.
  • Assess organizational performance using financial ratio analysis.
  • Forecast organizational performance using financial models.

Product and Service Costing and Cost-Volume-Profit Analysis

  • Explain the purpose of standard cost systems.
  • Distinguish among functional-based, activity-based, and strategic-based responsibility accounting processes.
  • Analyze organization, product, and business segment performance.
  • Analyze cost-volume-profit (C-V-P) relationships in an organization.
  • Apply variance analysis to business operating decisions.

The Budgeting Process and Performance Reporting

  • Explain the purpose of budgeting.
  • Recommend an appropriate master budgeting process for an organization.
  • Prepare pro forma financial statements.
  • Recommend business alternatives utilizing pro forma financials.

Time Value of Money and Capital Budgeting

  • Explain how the time value of money influences financial decisions.
  • Explain the purposes of capital budgeting.
  • Describe factors which influence a capital budgeting analysis.
  • Evaluate alternative investments utilizing capital budgeting techniques.

Riding the Wave of the Financial Services Industry

  • Explain the roles of financial institutions in the global economy.
  • Assess dynamic environmental influences on the financial services industry.

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