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In this course, you will :
- Learn to read and interpret financial statements. You will learn all pertinent and important terms related to the three financial statements: the balance sheet, the income statement, and the cash flow statement.
- learn how to analyze business performance using financial statements.
- learn how four essential drivers of profitability influence any organization's performance: asset management, cost management, leverage management, and tax management.
- Teach you how to manage costs. We will discuss product costing, budgeting, budgetary control, and cost analysis for decision-making.
Syllabus :
- 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.
