Sunday, November 10, 2019

Accounting for Decision-Making

Accounting for Decision-MakingIn order for a manager to effectively perform their role they must have an understanding of accounting information, as accounting systems generate information that is used by both internal and external stakeholders Having a good understanding of accounting allows managers to communicate with the finance department, bankers, suppliers and even tax authorities. In this finance course, you will learn how to read and understand financial statements. You will learn all relevant and important terms as they relate to the three financial statements - balance sheet, income statement and cash flow statement. Subsequently, you will develop the capability to analyze business performance through financial statements. You will see how the performance of any organization is impacted by four fundamental drivers of profitability - asset management, cost management, leverage management and tax management. In the second part of the course, you will learn how to manage costs. We will cover product costing, budgeting , budgetary control and cost analysis for decision making. Successfully completing this course will transform you into a manager who is confident while discussing and handling accounting and financial matters in the workplace, and help you as you move forward in your managerial career and take on senior roles.

* This article was originally published here

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