Financial Management Course Topics
Financial Management Course Topics – 1 Accounting and Financial Management Course Outline Author: John Parkinson Ph.D., Professor of Accounting Course A human resource manager (HRM) needs knowledge of financial and management accounting to be able to do his job effectively. In some cases, where HRM is expected to perform the activities itself, detailed knowledge is required. This would be the case, for example, in preparing operating budgets for their area of responsibility and interpreting control information based on those budgets. In other cases, HRM is expected to have a working understanding of the challenges faced by their peers in the management team, where familiarity with concepts is more important than detailed knowledge. For example, this would be the case with the preparation of the income statement and balance sheet for external users. Learning Objectives This course seeks to develop: a general understanding of the nature of financial and management accounting and its relationship to business decisions in general and HRM work in particular; An understanding of the conceptual foundations of accounting and its relevance to the function of HRM; the nature and meaning of the principal accounting reports (income statement, balance sheet and cash flow statement); Ability to perform detailed calculations in the following areas, particularly in relation to applications that HRM is likely to encounter in your work environment: calculation and interpretation of financial ratios; Use financial ratios to interpret key accounting reports; cost behavior including fixed costs, variable costs and activity-based costs; Applying the cost behavior of the cost-volume-profit model (breakeven point); direct cost tracking and indirect cost allocation; production costs and transfer prices; Elaboration of the budget for the operational area of HRM; Calculate and interpret cost and control variances through the Balanced Scorecard; Use management accounting information to support decisions; Evaluate investment opportunities through capital budgeting techniques, including a risk assessment. Required Textbooks 1: Financial Accounting: Tools for Business Decision Making: P.D.Kimmel, J.J.Weygandt, D.E.Keiso, B.Trenholm and W.Irvine, 6th Canadian Edition, Wiley, (FA) ISBN: Tools for Business Decision Making: Managerial Accounting: Conducted by: J.J.Weygandt P.D.Kimmel, D.E.Keiso, B.Trenholm and W.Irvine, 4th Canadian edition, Wiley, (MA). isbn
2 Course content Part 1 Financial accounting Unit 1 General description of financial accounting and key financial statements and management accounting in the context of human resource management: Describe the purpose and objectives of financial and management accounting Describe financial concepts, techniques and conventions. Accounting Describe the main elements of financial statements: Explain the interrelationships Readings: FA: Ch 1 and 2; MA, Chapter 1. Unit 2 Preparation and interpretation of the income statement and its underlying conceptual foundations: Analyzing the principal financial statements: 1: Income statement Readings: FA: Chapter 3, 4 and 5. Unit 3 Preparation and Interpretation Balance sheet and its basic conceptual foundations: Analyze the main financial statements: 2: Balance sheet Readings: FA: Ch 6, 7, 8, 9 and 10. Unit 4 Preparation and interpretation of statement of cash flows and their underpinnings Conceptual Foundations Present: Analyze Key Financial Statements: 3: Statement of Cash Flows Readings: FA: Chapter 13. Unit 5 Use of Accounting Ratios in Interpreting Financial Statements: Analyze Financial Statements Using: Liquidity Ratios Profitability Ratios Stability Ratios Growth Ratios Cash Flows Analysis Readings: FA: Ch 14.
Financial Management Course Topics
3 Unit 2 Managerial Accounting Unit 6 Understanding the Behavior of Costs: Explain the following: Cost Factors Variable Costs Fixed Costs Cost Estimating Readings: MA: Ch 2. Unit 7 Product Costing: Product Costing Balance Sheet Income Statement Readings: MA: Ch 3 and 4. Unit 8 Activity-Based Costing: Explain the following: Cost drivers Variable costs Fixed costs Readings: MA: Ch 5; Unit 9 Cost-Volume-Profit Analysis and Break-Even: Explain: Contribution Margin-Event Cost-Volume-Profit (CVP) Change Analysis Sensitivity Analysis CVP Limits Activity-Based Accounting Readings: MA: Ch 6
College Of Business & Accountancy
4 Unit 10 Using Management Accounting Information to Support Decision-Making: Describe how cost information can be used to describe the key features of human resource accounting: evaluating human resource strategies, functions and programs, restructuring decisions, use of contingent employment and subcontracting. Evaluating outsourcing of contracting. Determining the Effectiveness of Human Resource Management Systems in Human Resource Functions Evaluating Information from E-Training Initiatives to Determine the Costs of Collective Bargaining Proposals, Including Direct and Cumulative Costs Readings: MA: Chap. 7. On the Balanced Scorecard: Cost variances (materials, labor, overhead) Revenue variances Use of variables in decision making Balanced Scorecard Describe the general managerial decision-making process ss Readings : MA: Chapters 11 and 12. Unit 13 Long-term investment planning and Governance: Describe how capital budgeting can be used to make decisions about investments in HR infrastructure such as HRM systems and e-learning Readings: MA: Chapter 13. Learning Aids 13 online multimedia lecture units, each with audio narration. A PowerPoint presentation. 13 sets of detailed solutions to textbook problems illustrate the topics covered in the units: 13 self-help quizzes to assess learning of the material in each unit; A moderated discussion board for students to interact with the instructor and their peers. Participation The participation discussion forum is moderated and rated by the instructor. Students must post at least 2 presentations (400 words or more) during the course for assigned questions that demonstrate knowledge and skills consistent with the learning objectives. All submissions have instructor feedback.
5 Homework There are two homeworks as follows: After Unit 5 (Financial Accounting Syllabus Test) After Unit 10 (Management Accounting Part of Syllabus Test) Final Exam Proctored exam, open book, consisting of essay questions (calculations required) Online. Any part of the entire course content can be checked. A government-issued photo ID is required to verify the student’s identity. Course Components Grade Weight for Discussion Forum Participation: 10% Two Assignments: 20% each Final Exam: 50%: (Passing the final exam with a grade of at least 65% is required to pass the course regardless of the grades obtained in the other components. .) Courses Pass Grade: 65%
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