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Management and financial accounting: Know your numbers 1

Approx. 14 hours to complete

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Course Summary

This course provides an introduction to management accounting concepts and techniques for decision-making, planning, and control. Topics include cost behavior, cost-volume-profit analysis, budgeting, and performance measurement.

Key Learning Points

Learn how to use accounting information for decision-making
Understand cost behavior and how it affects decision-making
Develop skills in budgeting and performance measurement

Learning Outcomes

Understand key management accounting concepts and techniques
Develop skills in cost behavior analysis and budgeting
Apply management accounting techniques to decision-making and performance measurement

Prerequisites or good to have knowledge before taking this course

Basic accounting knowledge
Basic math skills

Course Difficulty Level

Intermediate

Course Format

Online self-paced
Video lectures
Quizzes

Similar Courses

Financial Accounting Fundamentals
Introduction to Corporate Finance

Related Education Paths

Notable People in This Field

Gary Cokins
Helen Mitchell

Related Books

Description

Financial literacy is a fundamental capability for any business leader, whether you are running your own small business/start-up or working at a large organisation. This course will provide you with a sound foundational understanding of financial and management accounting, and how to use accounting to facilitate and align decisions made by owners, managers and employees. Via structured learning activities (video lectures, quizzes, discussion prompts and written assessments) you will develop the ability to seek out financial opportunities and avoid financial misadventure. You’ll learn how to organise, create, interpret and communicate important financial information effectively, which will help you improve your organisation’s internal procedures and processes.

Knowledge

Demonstrate an understanding of the development of financial statements
Investigate and analyse financial statements in practice
Apply financial ratios for purposes of understanding and synthesising business position and performance
Apply a range of management accounting techniques to generate and evaluate complex ideas and concepts to improve decision making

Outline

The building blocks
Course welcome & introduction
Week 1 Outline
Building blocks: Accounting theory
Building blocks: Finance theory
Financial risk and where it comes from
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Recall - The building blocks
Week 1 quiz

Ratios and data: Why and how
Week 2 outline
Financial ratios: From boring to brilliant
Accounting data and its application: A manager's guide
Value: From accounting profit to equity cash flow
Analysis for success: Choosing the right information
Explore further resources 2
Recall: Ratios and data: Why and how
Week 2 quiz

Strategy and accounting
Week 3 outline
Performance numbers: Aligning employee and organisational objectives
The numbers have it: Internal information to drive better decisions
The strategic management accountant: Myth or reality?
Become a Global MBA learner
Explore further resources 3
Recall: Strategy and accounting
Week 3 quiz

Budgeting and forecasting
Week 4 outline
Building blocks: Financial analysis and forecasting
Forecasting: Predicting a profit and loss statement
Building it up: Using budgets to influence financial performance
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Recall: Forecasting and budgeting
Week 4 quiz

Modelling financial performance
Week 5 outline
Trend analysis: Linking to strategy
Calibrating a model to adjust for the firm and its operating environment
Explore further resources 5
Recall: Modelling financial performance
Week 5 quiz

Corporate governance and accounting
Week 6 outline
The interaction between management, the board, and stakeholders
Enron: The smartest guys in the room...or not
Approaches to aligning organisational objectives
Explore further resources 6
Recall: Corporate governance and accounting
Week 6 quiz

Summary of User Reviews

Discover how financial information is used for decision-making in the management of companies. This course has received positive reviews from users who found it to be informative and engaging, with a focus on practical applications.

Key Aspect Users Liked About This Course

Many users appreciated the practical approach of the course, which helped them apply the concepts to real-world scenarios.

Pros from User Reviews

Informative and engaging content
Practical application of concepts
Good balance of theory and practice
Well-structured and organized course material
Great instructor who explains complex topics clearly

Cons from User Reviews

Some users found the course material to be too basic
Limited interaction with other students
No certificate provided for free enrollment
Some technical issues with the platform
No quizzes or assessments to test understanding

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