Accounting for Decision-Making free course
Information about the course:
- Length: 7 Weeks
- Effort: 3 – 5 hours per week
- Price: FREE
- Institution: IIMBx
|Provider||Indian Institute of Management Bangalore|
|Course teacher||MS Narasimhan|
|certificate||YES with fees|
All together for a director to successfully play out their job they should have a comprehension of bookkeeping data, as bookkeeping frameworks produce data that is utilized by both inner and outside partners
Having a decent comprehension of bookkeeping enables supervisors to speak with the account office, investors, providers and even duty specialists.
In this money course, you will figure out how to peruse and comprehend fiscal summaries. You will get familiar with all applicable and significant terms as they identify with the three fiscal summaries – asset report, salary articulation and income proclamation. In this manner, you will build up the capacity to break down business execution through budget reports. You will perceive how the exhibition of any association is affected by four principal drivers of gainfulness – resource the executives, cost the executives, influence the board and assessment the executives.
In the second piece of the course, you will figure out how to oversee costs. We will cover item costing, planning , budgetary control and cost examination for basic leadership.
Effectively finishing this course will change you into a supervisor who is sure while examining and taking care of bookkeeping and budgetary issues in the work environment, and help you as you push ahead in your administrative vocation and take on senior jobs.
What you’ll realize :
- Peruse and comprehend budget summaries
- Budget summary examination
- The most effective method to utilize bookkeeping data to plan and control your business and decide
Week 1: Mechanics of Financial Accounting
Introduction to financial accounting; Generally Accepted Accounting Principles; fundamental accounting equation; recording of financial transactions and preparation of accounting statements through accounting equation.
Week 2: Reading Financial Statements
Reading and understanding balance sheet, income statement and cash flow statement; Familiarizing all accounting terms that normally appear in financial statements.
Week 3: Financial Statement Analysis
Ratio analysis; Understanding relationship between four profitability drivers; Assessing financial health through credit scoring model.
Week 4: Product Costing
Preparation of Cost Sheet in manufacturing and service industry; Job and process costing; Activity-based costing.
Week 5: Cost Analysis for Decision Making
Behaviour of costs; Break-even analysis; Relevant costing approach for different decision making scenarios.
Week 6: Budgeting and variance analysis
Preparation of operational and financial budgets; Comparing actual performance against budgets; Price and quantity variance; Controllable and non-controllable variance; Revenue and contribution variances.