This course presents advanced concepts of financial management. It examines the principles, techniques, and uses of accounting in the planning and control of business organizations from a management perspective. Financial planning and budgeting courses typically cover topics; (1) cost analysis and (2) decision making and control. The first part will be considered as a preparation for the second which is the most important for future manager/executives. Main topics covered are: the budgetary process and related performance evaluation techniques, cost-volume-profit relationship, product costing methods, Activity Based Costing (ABC) and main performance evaluation tools. Related theory and application will also be reviewed.
Upon completion of this course, the student will be able to:
- Verify relevant costs for decision making.
- Apply the concepts of capital budgeting and planning.
- Analyze the variance between actual and projected goals.
