Course Overview:
This course introduces Managerial Accounting as the provision of Accounting Information for a company’s internal users. It is the firm’s internal accounting system and is designed to support the information needs of managers. Unlike financial accounting, managerial accounting is not bound by any formal criteria such as Generally Accepted Accounting Principles (GAAP).
Managerial Accounting has three broad objectives:
- To provide information for planning the organization’s actions.
- To provide information for controlling the organization’s actions.
- To provide information for making effective decisions.
Course Objectives:
The key aim of this course is to provide a comprehensive understanding to the interaction between business environment and managerial accounting. In addition, the course emphasizes the use of accounting information for internal planning and control purposes. The course covers the role of management accounting in decisions concerning resource allocation and performance evaluation, application of high-low method, Cost-VolumeProfit analysis (CVP) in multi-product settings, theory of constrains, quality costs, performance evaluation and pricing decisions.
