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The main objective of this course is to explore methods of accounting to improve financial and managerial decision making.
Financial Statements and Business Decisions, Balance Sheet, Income Statement, Reporting and Interpreting Sales Revenue, Receivables, Cash, Cost of Goods Sold and Inventory, Liabilities, Owners’ Equity, Analyzing Financial Statements, The nature of costs, Opportunity cost of capital and capital budgeting, Responsibility accounting and transfer pricing, budgeting, Cost allocation.
Upon succesful completion of this course, a student will be able to
1. Summarize fundamental concepts of financial and managerial accounting
2. Appraise the relationship between accounting and managerial decision making.
3. Interpret financial statements and relate to performance evaluation
4. Explain budgeting and its role in financial planning
5. Formulate an accounting based framework to managerial decision making.