MN3056 Financial and Managerial Accounting

MN3056 is designed for the graduate student who has had little or no exposure to accounting. In the beginning of the course, the student will be briefly introduced to financial accounting concepts and theory in order to build a basis for more detailed study of managerial accounting. Managerial accounting examines the internal information systems needed by managers to make decisions concerning the allocation of scare resources. Managers need information to carry out three essential functions in an organization: (1) planning operations, (2) controlling activities, and (3) making decisions. The purpose of this course is to show what kind of information is needed, where this information can be obtained, and how managers can use this information as they carry out their planning, controlling, and decision-making responsibilities.

Prerequisite

None

Lecture Hours

Lab Hours

Course Learning Outcomes

The objectives of this course can be summarized as follows:

Students will develop a foundational understanding of the basic elements of a corporate financial report. On the balance sheet these elements include assets, liabilities, and equity. On the income statement these elements include revenues and expenses. On the statement of cash flows these elements include operating cash flow, investing cash flow, and financing cash flow.
Students will learn profitability and risk ratios based on financial statements.
Students will develop a foundational understanding of cost accounting, which forms the basis of managerial accounting.
Students will develop a foundational understanding of capital budgeting decisions.