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Financial Information for Decision Making

Duration: 1 Teaching Period

Unit Code: ACC10007

Contact Hours: Recommended 10 hours of study per week

About this unit

This unit provides a framework to learn accounting concepts. Students will learn how accounting concepts can be applied in business and provide useful information for evaluating and decision-making. Whatever aspect of business students intend to specialise in, they will need to be familiar with the concepts and principles underlying the practice of accounting. Such knowledge will enable students to understand the importance of financial information in decision-making and thereby provide them with the necessary financial literacy for their future roles in the world of business.

Content

  • Business Reporting – Financial reporting – Introduction to financial reports and their use in decision making
  • Business Reporting – Recording & reporting business transactions using accrual accounting
  • Business Reporting – Preparation and use of Cash Flow Statement
  • Performance Assessment – Analysis & Interpretation of Financial Reports
  • Performance Assessment – Introduction to Performance Evaluation – business unit & business unit manager
  • Business Planning – Role of Budgets & Budget Preparation – focus on cash budget
  • Business Planning – Revenue & Cost Determination
  • Business Planning – Cost Behaviour & Cost Volume Profit Analysis (CVP)
  • Business Planning – Operational Decision Making

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