Free Online Course on Accounting for Decision Making

Free Online Course on Accounting for Decision Making

Indian Institute of Management, Bangalore is glad to announce you “Accounting for Decision-Making” free online course. The course is aimed to learn how to read and interpret financial statements and manage costs to take informed business decisions.

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. The course will start May 11, 2017.

Course At A Glance

  1. Length: 7 weeks
  2. Effort:  4-5 hours per week
  3. Subject:  Business & Management
  4. Institution:   Indian Institute of Management, Bangalore
  5. Languages: English
  6. Price:  Free
  7. Certificate Available: Yes
  8. Session: The course will start May 11, 2017

Providers Details

  • Indian Institute of Management, Bangalore Established in 1973, the Indian Institute of Management, Bangalore is one of the top management schools in India. They build leaders through holistic, transformative and innovative education. They are known for excellence in both teaching and research, and our alumni are leaders in business, government and civil society across the globe.
  • Indian Institute of Management, Bangalore efforts for strengthening our research and teaching have paid handsome dividends by enhancing our international reputation. Our PGP, Executive PGP, and executive programmers are all very highly placed in global rankings by the Financial Times.

Requirements

An overall understanding of the business environment is required for the course.

About This Course

  • Benefits: 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. The language of the course is English.
  • Importance of the Subject in Today’s Scenario: Accounting is often called “the language of business.” Why? Because it communicates so much of the information that owners, managers, and investors need to evaluate a company’s financial performance. Management accounting plays a key role in helping managers carry out their responsibilities.In preparing, analyzing, and communicating such information, accountants work with individuals from all the functional areas of the organization—human resources, operations, marketing, and finance.

How to Join This Course

You should register yourself through the given link to join this free on-line course: https://courses.edx.org/register

Course Format

Week 1: Mechanics of Financial Accounting
Introduction to financial accounting, Generally Accepted Accounting Principles; fundamental accounting equation, recording of financial transactions and preparation of accounting statements through accounting equation.

Week 2: Reading Financial Statements
Reading and understanding a balance sheet, income statement and cash flow statement, Familiarizing all accounting terms that normally appear in financial statements.

Week 3: Financial Statement Analysis
Ratio analysis, the Understanding relationship between four profitability drivers, assessing financial health through credit scoring model.

Week 4: Product Costing
Preparation of Cost Sheet in manufacturing and service industry, Job and process costing, Activity-based costing.

Week 5: Cost Analysis for Decision Making
Behaviour of costs, Break-even analysis, Relevant costing approach for different decision making scenarios.

Week 6: Budgeting and variance analysis
Preparation of operational and financial budgets, Comparing actual performance against budgets, Price and quantity variance, Controllable and non-controllable variance, Revenue and contribution variances.

Why Take This Course

  • Advantage of Course: In this free online course 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.
  • Certificate: You can pursue a Verified Certificate to highlight the knowledge and skills you gain ($150). The Certificate and transcript give you evidence to show during job or university applications, or appraisals.

Learning Outcomes

In this free online course, you will learn

  • Read and understand financial statements
  • Financial statement analysis
  • How to use accounting information to plan and control your business and make decisions

Instructors

MS Narasimhan: Professor MS Narasimhan teaches courses on Management Accounting, Financial Accounting, Corporate Finance, and Investments. His areas of interest include Management Accounting, Corporate Finance, and Capital Markets.

Suggested Reading

You don’t need any prior knowledge to take this course, but an interest in Business might be useful.

You Might Also Be Interested In

If you are interested you can also join “Accounting and Finance” free online course.

Conclusion

  • 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.
  • Receive an instructor-signed certificate with the institution’s logo to verify your achievement and increase your job prospects. Add the certificate to your CV or resume, or post it directly on LinkedIn.

Detailed Information

For more information about the course, you can check the given link:

https://www.edx.org/course/accounting-decision-making-iimbx-ac103x-0#!

 

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