Κολέγιο CITY College
International Faculty
CITY College.
Main Campus, Thessaloniki, Greece

Financial Reporting and Management Accounting

Brief Description

Management accounting serves the multiple information needs of managers. It consists of accounting techniques and procedures for gathering and reporting financial, production, and distribution data to meet management's information needs. Management accountants are now facing a great challenge, as globalization and automation are the key characteristics of the new business environment. The management in general and management accountants in particular, need to obtain information about these changes, interpret it and use it in their decision-making in order to remain competitive.

 

Topics Addressed

  • Introduction to accounting.
  • Overview of financial statements.
  • Introduction to management accounting: Cost terms and concepts.
  • Video Presentation: The balance sheet barrier and how to read a complete financial annual report in all its aspects.
  • Cost volume profit analysis and relevant costs for decision making.
  • Introduction to financial statement analysis - The financial performance of organisations through a detailed ratio analysis.
  • Assignment of direct and indirect costs: Traditional costing of products.
  • Product costing: Traditional and activity based costing methods and Activity based costing and customer profitability analysis.
  • Recent developments in cost and management accounting.
  • The role and nature of budgets & capital investment appraisal techniques.

 

Expected outcomes

  • Calculate unit costs, applying cost accumulation methods and be able to explain their strengths and weaknesses.
  • Identify and explain cost behavior patterns and apply cost-volume profit analysis.
  • Prepare and present budgets for planning, control and evaluation.
  • Compute and explain the variances between budgeted and actual data.
  • Identify and use relevant costs in a range of decision-making situations.
  • Apply techniques associated with a changing business environment such as TQM and ABC.

 

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