Profit and loss accounts and balance sheets give insights into the financial strength of competitors but you have to know what you are looking for.
Many managers do not even know the financial position of their own organisation. To decide how much to charge for your products you have to know how much they cost, notoriously difficult to determine.
Effective decisions require an understanding of financial and management accounting techniques plus their strengths and weaknesses.
- 50 - 60 Contact Hours
- An introduction to accounting and the accounting equation.
- The profit and loss account.
- The balance sheet.
- The cash flow statement.
- Framework for financial reporting.
- Interpretation of financial statements.
- Emerging issues and managerial options in reporting.
- An introduction to cost and management accounting.
- Cost characteristics and behaviour.
- Allocating costs to jobs and processes.
- Costs for decision making.
- Standard costing.
- Accounting for divisions.
- Investment decisions.
- New developments in management accounting.