Weekly study3 hours
Financial Accounting for Business Management
Develop your understanding of the principles of accounting
Accounting is, quite simply, a language that provides information about the financial position and financial performance of an organisation.
On this four-week course from Sentinel|9, you’ll explore the fundamentals of financial and management accounting. You’ll focus on critical evaluation of accounting information contained in financial statements and the application of key cost and management accounting techniques in daily business decisions.
Explore the concepts and regulations of financial reporting
Companies publish their financial accounting information in the form of financial statements. There are many moving parts to financial statements, and every business manager should be able to analyse and understand them.
You’ll look at the basic concepts of accounting and their uses within financial statements, from profit and loss and EBITDA to depreciation journals and cash flow.
Learn techniques and models to help with cost and management accounting
Management accounting is concerned with the information given to people within the organisation to help them make better decisions. Thus, management accounting could be called internal accounting.
This course will guide you through the main techniques used in management accounting, such as operating efficiency and job costing, and how to apply them to your own accounting.
Discover more technical financial and cost analysis for future planning
Using real-world case studies, you’ll learn important formulas and analysis techniques to help you estimate future revenues, costs, and profits. This is a vital part of financial accounting as it helps you to plan and monitor operations.
You’ll finish by exploring the limitations of accounting, from intangibles to human capital and goodwill.
Learning on this course
On every step of the course you can meet other learners, share your ideas and join in with active discussions in the comments.
What will you achieve?
By the end of the course, you‘ll be able to...
- Develop a high-level understanding of the accounting process and fundamental accounting principles that underpin the development of financial statements.
- Design, research and interpret the concepts and role of working capital, sources of working capital, ratios and their uses.
- Explain the concept of job costing, process costing, activity-based costing, JIT inventory system, EOQ model, and the concept and application of standard costing.
- Apply techniques from cost and management accounting, in deciding upon alternative courses of action using CVP analysis, capital budgeting techniques, inventory management model.
- Evaluate financial performance and financial position of a business using information contained in financial statements; balance sheet, income statement, and cash flow statement.
- Interpret the working capital position and working capital management of a business.
- Calculate different liquidity ratio, solvency ratio and operating efficiency ratio.
- Calculate standard costing, calculate variances and interpret them.
- Calculate and interpret EVA.
Who is the course for?
This course is designed for students and business professionals interested in financial and management accounting. It may also be useful for aspiring entrepreneurs and anyone looking for a career in business management.
Who developed the course?
Sentinel|9 is an education content provider. They provide university-level content independently to offer a different pace of learning for individuals and institutions. They have a dynamic content library and Learning Management System (LMS) which is suitable for online, blended and face-to-face delivery.
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