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MS Narasimhan
In order for a manager to effectively perform their role they must have an understanding of accounting information, as accounting systems generate information that is used by both internal and external stakeholders
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In order for a manager to effectively perform their role they must have an understanding of accounting information, as accounting systems generate information that is used by both internal and external stakeholders
Read more
In order for a manager to effectively perform their role they must have an understanding of accounting information, as accounting systems generate information that is used by both internal and external stakeholders
Having a good understanding of accounting allows managers to communicate with the finance department, bankers, suppliers and even tax authorities.
In this finance course, you will learn how to read and understand financial statements. You will learn all relevant and important terms as they relate to the three financial statements - balance sheet, income statement and cash flow statement. Subsequently, you will develop the capability to analyze business performance through financial statements. You will see how the performance of any organization is impacted by four fundamental drivers of profitability - asset management, cost management, leverage management and tax management.
In the second part of the course, you will learn how to manage costs. We will cover product costing, budgeting , budgetary control and cost analysis for decision making.
Successfully completing this course will transform you into a manager who is confident while discussing and handling accounting and financial matters in the workplace, and help you as you move forward in your managerial career and take on senior roles.
Register for this course and see more details by visiting:
OpenCourser.com/course/w1tyf5/accounting
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What's inside
Learning objectives
- Read and understand financial statements
- Financial statement analysis
- How to use accounting information to plan and control your business and make decisions
- Read and understand financial statements
- Financial statement analysis
- How to use accounting information to plan and control your business and make decisions
Syllabus
Week 1: Mechanics of Financial AccountingIntroduction to financial accounting; Generally Accepted Accounting Principles; fundamental accounting equation; recording of financial transactions and preparation of accounting statements through accounting equation.
Read more
Syllabus
Week 1: Mechanics of Financial AccountingIntroduction to financial accounting; Generally Accepted Accounting Principles; fundamental accounting equation; recording of financial transactions and preparation of accounting statements through accounting equation.
Read more
Week 2: Reading Financial StatementsReading and understanding balance sheet, income statement and cash flow statement;Familiarizing all accounting terms that normally appear in financial statements.
Week 3: Financial Statement AnalysisRatio analysis; Understanding relationship between four profitability drivers; Assessing financial health through credit scoring model.
Week 4: Product CostingPreparation of Cost Sheet in manufacturing and service industry; Job and process costing; Activity-based costing.
Week 5: Cost Analysis for Decision MakingBehaviour of costs; Break-even analysis; Relevant costing approach for different decision making scenarios.
Week 6: Budgeting and variance analysisPreparation of operational and financial budgets; Comparing actual performance against budgets; Price and quantity variance; Controllable and non-controllable variance; Revenue and contribution variances.
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Develops financial analysis skills, which are valuable for roles in business and investing
Delivers a thorough knowledge of financial statements, essential for professionals in accounting and finance
Builds a solid foundation in corporate finance and cost management
Save this course
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Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Accounting for Decision-Making with these
activities:
Read the book 'Financial Accounting for Dummies'
Show steps
Enhance understanding of foundational concepts by reviewing a supplementary text.
View
Bookkeeping All-in-One For Dummies (For Dummies...
on Amazon
Show steps
-
Obtain a copy of the book
-
Read the book
-
Take notes and highlight important passages
-
Complete the practice exercises in the book
Solve practice problems on the mechanics of financial accounting
Show steps
Complete practice exercises to solidify foundational knowledge and skills.
Browse courses on
Financial Accounting
Show steps
-
Find practice problems on the mechanics of financial accounting
-
Solve the practice problems
-
Check your answers and learn from your mistakes
Complete the tutorials on ratio analysis and financial statement analysis
Show steps
Explore additional learning resources to gain a deeper understanding of specific topics.
Browse courses on
Ratio Analysis
Show steps
-
Find tutorials on ratio analysis and financial statement analysis
-
Complete the tutorials
-
Test your understanding by completing the practice exercises
Five other activities
Expand to see all activities and additional details
Show all eight activities
Join a study group to discuss financial statements
Show steps
Collaborate with other learners to discuss and reinforce key concepts.
Browse courses on
Financial Statements
Show steps
-
Find a study group or create your own
-
Meet regularly to discuss the material
-
Work together to solve problems
-
Share your knowledge and insights
Create a sample budget for a non-profit organization
Show steps
Start working on a sample financial document using budgeting principles.
Browse courses on
Budgeting
Show steps
-
Research different types of non-profit organizations
-
Identify the organization's mission statement and goals
-
Estimate the organization's revenue and expenses
-
Create a budget that allocates funds to different programs and activities
-
Present the budget to the organization's board of directors
Create a presentation on the financial performance of a company
Show steps
Apply learnings to a practical scenario by creating a presentation that synthesizes and communicates complex financial information.
Browse courses on
Financial Performance
Show steps
-
Choose a company to present on
-
Gather financial data on the company
-
Analyze the financial data
-
Create a presentation that summarizes the company's financial performance
-
Present the presentation to your classmates or colleagues
Write a blog post on the importance of financial literacy
Show steps
Summarize and disseminate key course learnings by creating an asset that is presentable in a professional context.
Browse courses on
Financial Literacy
Show steps
-
Identify the key points you want to cover
-
Research and gather supporting evidence
-
Write a clear and concise blog post
-
Edit and proofread your blog post
-
Publish your blog post on a relevant platform
Volunteer at a local non-profit organization that provides financial counseling
Show steps
Gain practical experience and reinforce concepts by assisting individuals with financial planning and management.
Browse courses on
Financial Literacy
Show steps
-
Find a local non-profit organization that provides financial counseling
-
Contact the organization and inquire about volunteer opportunities
-
Attend a training session
-
Provide financial counseling to clients
Read the book 'Financial Accounting for Dummies'
Show steps
Enhance understanding of foundational concepts by reviewing a supplementary text.
View
Bookkeeping All-in-One For Dummies (For Dummies...
on Amazon
Show steps
Show steps
Show steps
- Obtain a copy of the book
- Read the book
- Take notes and highlight important passages
- Complete the practice exercises in the book
Solve practice problems on the mechanics of financial accounting
Show steps
Complete practice exercises to solidify foundational knowledge and skills.
Browse courses on
Financial Accounting
Show steps
Show steps
Show steps
- Find practice problems on the mechanics of financial accounting
- Solve the practice problems
- Check your answers and learn from your mistakes
Complete the tutorials on ratio analysis and financial statement analysis
Show steps
Explore additional learning resources to gain a deeper understanding of specific topics.
Browse courses on
Ratio Analysis
Show steps
Show steps
Show steps
- Find tutorials on ratio analysis and financial statement analysis
- Complete the tutorials
- Test your understanding by completing the practice exercises
Five other activities
Expand to see all activities and additional details
Show all eight activities
Join a study group to discuss financial statements
Show steps
Collaborate with other learners to discuss and reinforce key concepts.
Browse courses on
Financial Statements
Show steps
Show steps
Show steps
- Find a study group or create your own
- Meet regularly to discuss the material
- Work together to solve problems
- Share your knowledge and insights
Create a sample budget for a non-profit organization
Show steps
Start working on a sample financial document using budgeting principles.
Browse courses on
Budgeting
Show steps
Show steps
Show steps
- Research different types of non-profit organizations
- Identify the organization's mission statement and goals
- Estimate the organization's revenue and expenses
- Create a budget that allocates funds to different programs and activities
- Present the budget to the organization's board of directors
Create a presentation on the financial performance of a company
Show steps
Apply learnings to a practical scenario by creating a presentation that synthesizes and communicates complex financial information.
Browse courses on
Financial Performance
Show steps
Show steps
Show steps
- Choose a company to present on
- Gather financial data on the company
- Analyze the financial data
- Create a presentation that summarizes the company's financial performance
- Present the presentation to your classmates or colleagues
Write a blog post on the importance of financial literacy
Show steps
Summarize and disseminate key course learnings by creating an asset that is presentable in a professional context.
Browse courses on
Financial Literacy
Show steps
Show steps
Show steps
- Identify the key points you want to cover
- Research and gather supporting evidence
- Write a clear and concise blog post
- Edit and proofread your blog post
- Publish your blog post on a relevant platform
Volunteer at a local non-profit organization that provides financial counseling
Show steps
Gain practical experience and reinforce concepts by assisting individuals with financial planning and management.
Browse courses on
Financial Literacy
Show steps
Show steps
Show steps
- Find a local non-profit organization that provides financial counseling
- Contact the organization and inquire about volunteer opportunities
- Attend a training session
- Provide financial counseling to clients
Career center
Learners who complete Accounting for Decision-Making will develop knowledge and skills
that may be useful to these careers:
Financial Analyst
Financial Analyst
Financial Analysts use their strong understanding of accounting and financial information to perform in-depth analysis of companies and make investment recommendations. This course offers a solid accounting background and examines how to analyze financial statements to make informed investment decisions.
Management Consultant
Management Consultant
Management Consultants help businesses improve their performance by providing guidance on various aspects of their operations. Strong financial literacy is key to success in this role. This course will provide Management Consultants with a comprehensive understanding of accounting principles and financial statement analysis, enabling them to make well-informed recommendations to clients.
Auditor
Auditor
Auditors examine financial records to ensure accuracy and compliance with regulations. This course provides a solid foundation in accounting principles and financial statement analysis, which are essential for Auditors to effectively evaluate the financial health of organizations.
Tax Accountant
Tax Accountant
Tax Accountants specialize in tax laws and regulations, ensuring that organizations comply with tax obligations and optimize tax strategies. This course will provide Tax Accountants with a comprehensive understanding of accounting principles and financial statement analysis, which are crucial for understanding the tax implications of business decisions.
Budget Analyst
Budget Analyst
Budget Analysts develop and manage budgets for organizations, ensuring efficient allocation of financial resources. This course will provide Budget Analysts with the skills to analyze financial statements and make informed decisions about budget allocation, helping organizations achieve their financial goals.
Financial Planner
Financial Planner
Financial Planners help individuals and families manage their finances and plan for their financial future. This course offers a solid understanding of accounting principles and how to analyze financial information, enabling Financial Planners to provide informed advice to clients.
Cost Accountant
Cost Accountant
Cost Accountants play a critical role in managing costs and improving profitability. This course provides a comprehensive understanding of cost accounting principles, product costing, and cost analysis. This will enable Cost Accountants to make informed decisions about cost management and support organizational growth.
Forensic Accountant
Forensic Accountant
Forensic Accountants investigate financial fraud and other financial crimes. This course offers a solid accounting background and examines how to analyze financial statements to detect irregularities. This will enable Forensic Accountants to effectively investigate financial crimes and support legal proceedings.
Investment Banker
Investment Banker
Investment Bankers assist companies in raising capital and making strategic financial decisions. Strong accounting literacy is essential in this role. This course will provide Investment Bankers with a comprehensive understanding of accounting principles and financial statement analysis, equipping them to evaluate investment opportunities and advise clients.
Controller
Controller
Controllers are responsible for managing the financial operations of an organization, ensuring accurate financial reporting and compliance with regulations. This course offers a solid accounting background and examines how to analyze financial statements to make informed decisions. This will enable Controllers to effectively manage financial operations and support organizational success.
Chief Financial Officer (CFO)
Chief Financial Officer (CFO)
The CFO is a senior-level executive responsible for managing the financial health of an organization. This course offers a comprehensive understanding of accounting principles and financial statement analysis, preparing individuals for the role of CFO. By understanding how to analyze financial information and make informed decisions, CFOs can effectively manage an organization's finances and contribute to its success.
Accountant
Accountant
Accountants are responsible for recording and managing financial transactions and preparing financial statements. This course offers a solid accounting background and examines how to analyze financial statements, ensuring that Accountants have the skills to effectively manage financial operations.
Financial Manager
Financial Manager
Financial Managers oversee the financial operations of an organization, ensuring financial stability and profitability. This course provides a solid accounting background and examines how to analyze financial statements to make informed decisions. This will enable Financial Managers to effectively manage financial resources and support organizational growth.
Credit Analyst
Credit Analyst
Credit Analysts evaluate the creditworthiness of individuals and businesses, determining their ability to repay debts. This course offers a solid accounting background and examines how to analyze financial statements, providing Credit Analysts with the skills to assess financial risk and make informed lending decisions.
Business Analyst
Business Analyst
Business Analysts help organizations improve their performance by analyzing data and identifying areas for improvement. This course offers a solid accounting background and examines how to analyze financial statements. This knowledge is valuable for Business Analysts as it enables them to understand the financial implications of business decisions and make informed recommendations.
For more career information including salaries, visit:
OpenCourser.com/course/w1tyf5/accounting
Reading list
We've selected 15 books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Accounting for Decision-Making.
Provides a comprehensive overview of cost accounting. It valuable resource for students and professionals who want to learn more about the fundamentals of cost accounting.
Provides a comprehensive overview of financial statement analysis. It valuable resource for students and professionals who want to learn more about the fundamentals of financial statement analysis.
Save
Provides a comprehensive overview of investments. It valuable resource for students and professionals who want to learn more about the fundamentals of investments.
Save
Provides a comprehensive overview of corporate finance. It valuable resource for students and professionals who want to learn more about the fundamentals of corporate finance.
Provides a comprehensive overview of financial accounting and reporting. It valuable resource for students and professionals who want to learn more about the fundamentals of accounting.
This practical guide provides techniques and insights for analyzing financial statements to assess a company's financial health and performance.
This textbook is designed to help students and professionals understand how managerial accounting information can be used to make informed business decisions. It covers topics such as cost accounting, budgeting, and financial statement analysis.
Provides an in-depth look at intermediate accounting topics. It valuable resource for students and professionals who want to learn more about the advanced concepts of accounting.
Classic work on financial statement analysis. It valuable resource for students and professionals who want to learn more about the advanced concepts of financial statement analysis.
Classic work on value investing. It valuable resource for students and professionals who want to learn more about the advanced concepts of value investing.
This comprehensive guide to budgeting and variance analysis provides practical insights and techniques for improving financial performance.
This textbook provides a comprehensive overview of auditing concepts and techniques. It valuable resource for students and professionals who want to improve their understanding of auditing and its role in ensuring the accuracy and reliability of financial information.
Save
This textbook provides a comprehensive overview of financial accounting theory. It valuable resource for students and professionals who want to improve their understanding of the theoretical foundations of accounting.
This advanced textbook provides a comprehensive overview of financial accounting theory and its applications in practice.
Provides a concise overview of accounting concepts and techniques. It valuable resource for students and professionals who want to improve their understanding of accounting and its role in decision making.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/w1tyf5/accounting
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Effort
3 to 5 hours per week for 7 weeks
Level
Intermediate
Via
edX
Institution
Indian Institute of Management Bangalore
Instructor
MS Narasimhan
Session
April 30, 2024
- April 30, 2025
Language
English
Transcripts
English
हिंदी
This course belongs to a
collection
called
Business Management. It's comprised of seven courses:
- Operations Management
- People Management
- Corporate Finance
- Strategic Management
- Accounting for Decision-Making (viewing)
- Marketing Management
- People Management for Entrepreneurs
Good to know
Develops financial analysis skills, which are valuable for roles in business and investing
Delivers a thorough knowledge of financial statements, essential for professionals in accounting and finance
Builds a solid foundation in corporate finance and cost management
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