Management Accounting for Decision Making
Managerial responsibilities involve using large volumes of information produced by accounting systems in order to take informed business decisions. Hence, managers are generally expected to have a sound knowledge of finance and accounting.
This IIMBx course on Management Accounting for Decision Making explores the relevance of accounting information to managers, and how it can be processed and analysed for effective managerial decision-making.
By examining accounting information that is extensively used across three key managerial functions—namely, planning, decision-making and controlling—the course equips non-finance managers with basic accounting and finance skills. This course also discusses activity-based costing, which provides insight into the cost structure of products and services. What sets this course apart is the practicing manager-centric approach employed in each week of the course.
Week 1: Introduction to People Management
Difference between People Management and Human Resource Management; impact of individual and organizational factors on people management.
Week 2: Getting Work Done Through Others
Challenges of getting work done; significance of prioritization and assigning work to team members.
Week 3: Assessment and Evaluation
Concept of performance management and role of a manager in the different stages of the performance management process.
Week 4: Building Peer Networks
Understanding the importance of peer networks in an organization; being able to influence those on whom you have no authority.
Week 5: Essentials of Communication
Concept of the communication process with reflection on various barriers to effective communication and ways to overcome.
Week 6: Managing Self
Reflection on what does it mean to be a people manager; building a personal development plan for oneself.
By the end of this course you will known about
- Basics of Accounting
- Process Costing
- Cost Allocation
- Cost Analysis for Decision Making
- Variant Analysis