COMM 294 - Course Outline

COMM 294 - Course Outline - THE UNIVERSITY OF BRITISH...

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1 THE UNIVERSITY OF BRITISH COLUMBIA Sauder School of Business COMM 294 Introduction to Managerial Accounting Course Outline: Fall 2010 – Sections 101/102 Instructor: Aziz Rajwani E-Mail: [email protected] Office: Swing 207 Office hours : Mon/Wed/Fri 10-11; other times (Friday afternoon) by appointment COURSE OBJECTIVES: This course focuses on the use of accounting information in efficiently operating an organization. The concepts are sufficiently general to be applicable in both profit and not-for-profit organizations, but most of our discussion will deal with profit-oriented firms. Management accounting has two major roles: Decision-Facilitating Role: Managers have the responsibility and authority for making decisions with respect to the acquisition and use of an organization's resources. To do this effectively they must identify the actions (or strategies) available to them, predict the relevant consequences of those actions, and then choose the action that has the most preferred predicted outcome. Management accounting systems can be effective tools in providing information that is useful in predicting the possible consequences of alternative actions and in presenting a description of those consequences. Furthermore, management accounting systems can help identify situations in which "corrective" action is required. Decision-Influencing Role: Managers are often employees, rather than owners, of an organization. Their action choices are affected by their personal preferences with respect to the consequences of those actions. Management accounting systems can be effective tools in providing measures of management performance which, when combined with appropriate incentives, will induce management to select the actions preferred by the owners or directors of the organization. In doing so, the system is fulfilling its decision-influencing role. An organization's accounting records must provide the information necessary to prepare the financial statements reported to investors, bankers, unions and others who are not part of the firm's management. These statements must be prepared in accordance with generally accepted accounting principles (GAAP), particularly if the statements are audited. However, the information reported to management need not be prepared in accordance with GAAP. Management wants the information that is most useful in operating their organization, and that often differs from the information used to satisfy GAAP. You should not approach the material in this course as one of memorizing rules or particular solution techniques. We seek to help you develop your analytical skills with respect to the identification and use of decision relevant accounting information. We will provide in-class examples, self-study problems, and assignment problems that are designed to help you understand and apply the key concepts. The examination questions will test your understanding of those concepts, but will often do so by posing problems or conceptual questions that differ from those you have seen before.
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COMM 294 - Course Outline - THE UNIVERSITY OF BRITISH...

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