Accounting for Managers - Lecture 1: Accounting and Reporting in Commerce/Principles of Accounting

This module forms part of the course Accounting For Managers

This is an overview of the entire subject, spanning 5 lectures/modules. Each module will relate to varying components of the whole subject overview.

This unit introduces students to the fundamentals of financial and management accounting viewed from the perspective of the business manager. It focuses on critical evaluation of accounting information contained in financial statements and application of key cost and management accounting techniques in day to day business decisions. This unit adopts a managerial and analytical approach to the financial aspects of business management. After studying this unit students will learn the methods used in financial reporting and interpretation and applying these principles to business practice. Students will gain a better understanding and interpretation ability of the company's cash-flows and profit, different classes of assets, liquidity positions, operating efficiency. The management accounting part of this unit will equip students with understanding of key costs and managerial accounting techniques used in costs control, costs management and in planning.