OMBA Financial and Managerial Accounting

Trainers
Micheale Birhane |

This course emphasizes on gathering and use of financial information to facilitate effective management decisions. It covers financial accounting reports, user needs, and limitations of conventional statements. It also includes cost concepts and systems. It deals with financial statement analysis and techniques of analysis. Furthermore, it discusses about CVP analysis and incremental analysis.

Course Information

Objectives

By the end of this course students will be able to:

Analyze and interpreted financial statements
Use financial information for managerial decision making
Use accounting / financial information for planning and controlling
Use financial performance measures to measure organizational performances

Course Content

Chapter 1: Accounting Information for Decision Making

1.1 Role of Financial Information in Business and Society

1.2 Financial, Management and Tax Accounting

1.3 Data Processing in Accounting

1.4 Preparing financial reports for users

Chapter 2: Financial Statement Analaysis

2.1. Meaning of Financial Analysis

2.2. Need for Financial Analysis

3.2. Approaches to financial analysis and interpretation

Chapter 3: Management Accounting Information System

3.1. Definition and nature of costs

3.2. Classification of Costs

3.3. Cost accounting methods

Chapter 4: Cost-Volume-Profit (CVP) Analysis

4.1. Impact of Cost Behaviour in CVP analysis

4.2. Determining Break Even Point

4.3. CVP analysis for Multiple Products

4.3. CVP Analysis for Managerial Decisions

Chapter 5: Relevant Information for Decision Making

5.1. Nature Relevant Information

5.2.Common Types of Incremental Analysis

5.3. Short-term Decisions

References

Text Book

Williams, Haka, Bettner and Carcello, Financial and Managerial Accounting -The Basis for Business Decisions; 18th edition, Tata McGraw-Hill Edition
Needles, Belverd E. (2011). Financial and Managerial Accounting, 9th Edition, Southwestern CENGAGE Learning, USA
Warren, Carl S., et al (2016). Financial and Managerial Accounting, 13th Edition, Southwestern CENGAGE Learning, USA

Suggested Readings:

Charles T. Horngren, Gary L. Sundem and William O. Stratton, Introduction to Management Accounting, Pearson Education Inc. publishing, 13th Edition, USA
Edwards, James D. and Hermanson, Roger H. (2011). Accounting Principles: A Business Perspective First Global Text Edition, Volume 1, 8th Edition, Financial Accounting, Endeavour International Corporation, Houston, Texas, USA.
Edwards, James D. and Hermanson, Roger H. (2011). Accounting Principles: A Business Perspective First Global Text Edition, Volume 2, 8th Edition, Managerial Accounting, Endeavour International Corporation, Houston, Texas, USA.
Kenneth A. Merchant and Wim A. Van der Stede, Management Control Systems: Performance Measurement, Evaluation and Incentives, 2007, Pearson Education Limited, USA.
Peter Atrill and Eddie McLaney, (2011). Accounting and Finance for Non-Specialists, Pearson Education Limited, Edinburgh Gate Harlow, England.

End-of-course Feedback:

Please give us your feedback about the course. Near the end of the course, you should be receiving an email from the Evaluations Office of ACT to be filled by you. Please fill the form and return to the evaluation office on time.

Review Activity:
At the end of each lesson, please write down in your own words what you consider to be the most important point of the lesson. (one sentence)
Discuss the review in class