Course Length: 8 weeks
In this course, you will explore issues of financial control in complex organizations, including goal creation, strategic planning, budget development and audits. Analysis and measurements through accounting methods are explored as valuable methods for effective control. You’ll get acquainted with basic types of financial reports and learn to analyze complicated financial information to uncover information that will support your decision-making process.
Coursework is designed for engagement and collaboration. Here is an example of just some of the assignments and projects you will complete as part of ACCT 8310.
- Discuss key managerial financial concepts and topics with fellow students and your professor.
- Learn via interactive and multimedia content, as well as enhance your learning experience with McGraw-Hill Connect — an immersive digital platform aimed to streamline instruction, foster engagement and strengthen the connection between faculty, students and coursework.
Throughout the course, each week focuses on a different theme. Group discussions and coursework will align with that week’s theme, as well as its primary objectives.
Week 1 – Financial Statement Analysis
This week covers methods of interpreting financial statements and how to recognize the existence and importance of trends and changes. The methods you’ll discuss are dollar and percentage changes in statements (horizontal analysis), common-size statements (vertical analysis) and ratio analysis. Learn to:
- Describe and define basic accounting terminology.
- Analyze both ratios and financial statements to identify positive and negative trends in an organization.
Week 2 – Overview of Managerial Accounting and Cost Concepts
During week two you’ll study the concept of managerial accounting, why it matters and what skills you need to be successful at it. Learn to:
- Speak the language of business through accounting.
- Effectively analyze cost behavior patterns.
Week 3 – Cost-Volume-Profit, Variable Costing and Segment Reporting
In week three you’ll explore variable costing income statements and compare them to absorption costing income statements. Learn to:
- Calculate a company's break-even point and margin of safety.
- Perform target profit analysis.
Week 4 – Activity-Based Costing (ABC)
At the midpoint of the course you’ll focus on how manufacturing companies can use activity-based costing rather than traditional methods to calculate unit product costs to support overhead management and decision making. Learn to:
- Assign overhead costs to activity cost pools.
- Calculate activity rates.
- Assign overhead costs to cost objects.
Week 5 – Profit Planning
In week five you’ll discuss the steps involved in preparing an integrated business plan, known as the master budget. Learn to:
- Describe the organizational budgetary process.
- Prepare all of the components that go into the master budget.
Week 6 – Budgets, Return on Investments and Residual Income
Week six teaches you how to evaluate business performance through a financial lens. Coursework introduces the Balanced Scorecard, a performance measure designed to support organizational strategy. Learn to:
- Compute return on investment (ROI).
- Compute residual income and explain its strengths and weaknesses.
Week 7 – Differential Analysis: The Key to Decision Making
During week seven you’ll learn how managers have to be able to identify relevant and irrelevant data when making decisions, and be able to analyze the relevant data. Discuss how to use differential analysis and the costs and benefits of different analysis techniques. Learn to:
- Prepare an analysis of whether a product line or business segment should be added or dropped.
- Prepare an analysis of whether a special order should be accepted.
Week 8 – Capital Budgeting Decisions
In the last week of the course, you’ll study how companies make the best use of the limited resources at its disposal. This means it can only fund a certain amount of projects. Usually managers focus on projects with the greatest future return. Examine how managers plan investments in projects with long-term implications, such as buying new equipment or creating a new product. Learn to:
- Use accepted methods to assess and make a long-term investment decision.
- Understand the time value of money.
To learn more about this course, or other courses in the online MBA from Our Lady of the Lake University, call 855-275-1082 to speak with an admissions adviser or request more information right away.