541 Financial Reporting and Accounting for Control

Business Administration (Graduate)

Approved course information last updated: 2 years, 2 months ago

Pre-requisites: None

Requisite To: None

Lab Session:

Course Description

This course develops the necessary concepts and skills to comprehend and use financial statements and management accounting information in decision-making processes. Topics include: accounting rules and regulations governing identification, recognition, measurement and reporting financial accounting information according to generally accepted accounting principles, the impact of alternative accounting principles on financial statements, management's financial reporting strategy, usefulness of financial statements for assessing profitability and risk for managerial decisions, cost analysis for decision making and performance evaluation, strategic cost analysis, and management control systems.

Course Learning Objectives (CLOs)
  • Lo 1: develop sensitivity to financial reporting issues, including the following:
  • Lo 2: understand the relation between the expected return and risk of investment alternatives and the role financial statement analysis can play in providing information about risk and returns.
  • Lo 3: understand the usefulness of roa as a measure of a film's operating profitability independent of financing and the insights gained by disaggregating roa into profit margin and asset turnover components.
  • Lo 4: understand the usefulness of the rate of return on common shareholders' equity (roce) and the insights gained by disaggregating roce into profit margin, asset turnover, and leverage ratio components.
  • Lo 5: develop skills to interpret effectively the results of an analysis of profitability and risk.
  • Lo 6: understand the effects of alternative accounting principles on financial statements' analysis and how this affects investment decisions and market values of firms.
  • Lo 7: understand how managers can use management accounting information to enhance decision making:
  • Lo 8: understand the role of cvp analysis in decision making
  • Lo 9: understand the concept of relevant costs and its role in decision making.
  • Lo 10: understand the concept of abc in manufacturing and servicing industries.
  • Lo 11: understand the importance of budgets and variance anaysis.
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