|After completion of this course, participants will:||Participant will be assessed on the following criteria:|
|Financial Statements - Basics and Analysis.||
- Be able to demonstrate how the financial and business environments influence the wealth creation process in a business;
- be able to demonstrate knowledge on the workings of financial statements; and
- be able to analyse financial statements.
- Utilise financial environment information to demonstrate how it influences the variables contained in the financial statements,
- evaluate the effectiveness with which financial statements are used in the organisation,
- to comment on the wellness and management effectiveness of a business based on financial statement analysis.
|Essentials of Management Accounting.||
- Understand the major processes that management accounting systems use to manage resources and to create value;
- understand behavioural issues and the cost-benefit trade-offs that need to be considered in the design of management accounting systems;
- understand how the budgeting process fits into the wider strategic planning and control process of an organisation.
- Explain and illustrate the different measures of product costs for different purposes,
- understand and be able to outline the flow of cost through the accounts used in product costing,
- be able to distinguish between job costing and process costing,
- identify and understand the behaviour of fixed and variable costs,
- be able to calculate break-even points, margins of safety and operating leverage,
- be able to apply cost-volume-profit concepts to planning, control and pricing decisions in the organisation,
- understand the budgeting process and how budgets are developed and used in responsibility accounting systems,
- understand and be able to draw up the various components of the master budget.
|Projects and their valuation.||
- Discuss capital budgeting;
- explain capital budgeting techniques;
- use capital budgeting decision rules in practice;
- to value projects based on earnings potential and the risk associated with a specific project.
- make rational investment decisions.
- Explain and give the steps in the capital budgeting process,
- to do the required calculations and apply appropriate techniques to evaluate projects for investment purposes,
- to make recommendations regarding implementation of projects whether acceptable or not.