Management Accounting

Key financial accounting concepts needed for effective decision-making

NJIT prepares its graduates for positions of leadership as professionals and as citizens; provides educational opportunities for a broadly diverse student body; responds to needs of large and small businesses, state and local governmental agencies, and civic organizations; partners with educational institutions at all levels to accomplish its mission; and advances the uses of sciences, technology, engineering and mathematics (STEM) as a means of improving the quality of life. NJIT also offers online master degree at online.njit.edu.
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Course Description :
The first part of this course is designed to provide students with an insight into key financial accounting concepts needed for effective decision-making. This includes a brief discussion of how to record transactions using T accounts; preparing adjusted trial balances; preparing income statements, balance sheets, and statements of cash flows. Techniques for analyzing financial statements to examine a company’s financial status with respect to profitability, liquidity, and solvency are also discussed. This course subsequently builds on traditional concepts of managerial accounting (break-even analysis; strategic decisions involving product line decisions; downsizing, outsourcing; profit planning and how to set and examine budgets; and transfer pricing to maximize company value. We will also explore strategic cost reduction and waste/inefficiency reducing techniques such as Value Chain Management and Activity Based Management. The focus of the course, in summary, relates to how to effectively understand and use managerial accounting data in executive planning and control. This course is very intensive since we will be trying to cover a large amount of material over the semester. Absolute student commitment is required. Students must allocate a certain amount of time each day on this course. I will leave it up to you to judge for yourself the time required based on your learning ability.

This lesson is Made for :
  • Accountant
  • Entrepreneurs

  • You will learn stuff about :
  • how to record transactions using T accounts
  • preparing adjusted trial balances
  • preparing income statements
  • preparing balance sheets
  • preparing statements of cash flows

  • Requirements for this lesson :
  • Basic knowledge of math
  • Know to use english
  • Video
    10 minutes
    Skill Level
    Medium
    Language
    English
    Bonus

    FREELearn

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