This course examines the principles, techniques, and uses of accounting 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.
- How managers use and analyze managerial accounting information to make decisions
- How to prepare an operating budget and understand where and how to acquire the necessary information
- 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