Financial Accounting for Managers
One of the most important tasks of a manager is making decisions for and on behalf of an organisation. This requires knowledge of the proper and accurate financial position of the business. Accounting is the process of gathering and recording financial information that helps managers and various business stakeholders to make viable financial decisions for the business. While this course does not intend to make you an accountant, you should, however, understand the duties performed by these professionals in order to be able to supervise them better and use their reports more productively.
Accounting is the standard way of measuring business progress, quantifying amounts received and spent in the organisation. A manager, however, needs to know not only how to these transactions are recorded but how to use them in making current and future decisions proactively. This course helps students understand everything from the basic Concepts of Accounting and the Management aspect of the discipline, focusing more on the oversight and analysis duties the manager has over the Accounting department.
- Introduction to Accounting
- The Accounting Cycle
- The main accounting components
- The Accounting Process
- Initial Transactions
- Books of original entry
- Ledger Posting
- Final Accounts
- Forecasting Process
- Decision-making using financial information
- Audit reports
- Financial Statements Analysis
- Financial ratios analysis
- Worked Examples
On successful completion of this course, the student will be able to:
- demonstrate a critical awareness and understanding of Financial Accounting for Managers at the master's level that provides a basis for developing and/or applying new ideas, often within a research context.
- apply knowledge, critical understanding, and problem-solving abilities in new or unfamiliar environments within broader (or multidisciplinary) contexts related to their field of study (Financial Accounting for Managers)
- assimilate knowledge and formulate opinions with incomplete or limited information, but that include a reflection on social and ethical responsibilities.
- communicate their assumptions, and knowledge regarding Financial Accounting for Managers and the rationale underpinning these, to specialist and non-specialist audiences clearly and unambiguously.
- use the acquired skills to allow them to continue to study in a manner that may be largely self-directed and autonomous.
- integrate knowledge from other courses of the master program and practical business and formulate critical judgments with incomplete data.
The course is offered as self-study in e-learning. The learning material is provided in the form of lectures, literature, and lecture notes. Independent learning is required. In the case of paper submissions, further research is expected in compliance with the given scientific standard. LIVE course sessions are offered to support the students with questions regarding the content. Students are supported in their scientific work by corresponding online seminars.
All lectures and learning materials are made available in the online campus GHU Campus. Students can participate in LIVE course sessions and get in direct contact with the lecturers. All lectures are recorded and are available for download 24/7. The lecture notes, as well as additional material provided by the lecturer, can also be accessed in the GHU Campus.
Documents for exam preparation consisting of lectures and lecture notes. Additional material provided by the lecturer serves as independent files and can be used to work on the exams. The examination comprises theory questions, reflection, and case study and is intended to confirm all learning objectives.
The assessment consists of a 5000-word Financial Accounting for Managers report and assesses all learning outcomes. As a master-level assignment, the report requires a command of a complex and specialized area of knowledge and skills. This implies that, in addition to demonstrating a sound grasp of the ideas and concepts relevant to the topic of thereport, students will show that they can evaluate aspects such as conventions of approaches, their internal consistency, relevance, and applicability, as well as strengths and weaknesses.
To reach an assessment, students will consider competing approaches and draw on critiques put forward in scholarly literature. The position adopted in the assignment and any claims made must be based on a careful, coherent, and logical arguments, need to be appropriately supported with evidence from relevant scholarly sources, and should be presented in a coherent piece of writing. Sources must be referenced appropriately in-text and in a quote/reference list as set out in the GHU Referencing Guidelines.