Fundamentals of Business and Accounting for Managers

Out of the total activities of the firm, It focuses upon the introduction to concept of Financial accounting, cost accounting and management accounting. It gives all basic accounting concepts, conventions and fundamentals of financial accounting standards. It deals with double entry Book keeping system. It includes the fundamentals and process of preparation of trial balance, profit and loss account and balance sheet. It includes fundamentals cost and management accounting. This unit gives you basic elements of cost and cost determination. It gives emphasis on cost management, cost sheet, cost behaviour and the concepts of absorption and marginal costing. It is all about financial analysis. It involve analysis and interpretation of financial statements and techniques of financial analysis, ratio analysis and cash flow analysis. It focuses upon budget and budgetary control, cost volume profit analysis and its applications. It also involves alternative choice decision making process like make or buy decisions, shut down decisions, product mix decisions, replacement decisions and so on. 

Objectives of the course (100 words):

At the end of the course, the students shall be able to:

⦁ To learn the fundamentals of accounting for managers.

⦁ To understand fundamentals like accounting concepts, branches of accounting, nature of accounting, accounting standards.

⦁ To prepare and analyze financial statements.

⦁ To learn financial planning & control and major financial decisions.

⦁ To understand and choose alternative choice decision making process.  

⦁ Eligibility for enrollment (25 words):Those who have passed students 10 + 2 with any  subject specializations 

⦁ Course prerequisite, intended audience and reading materials 

⦁ Prerequisite for admission in these courses will be 10 + 2 with any subject specializations 

⦁ Intended for any interested students of any background who want to learn marketing fundamentals.  

⦁ Reading materials References and web links provided in 3rd quadrant in all lectures  

⦁ Learning outcomes: 

At the end of the course students will be able to understand the accounting fundamentals like accounting concepts, branches of accounting, nature of accounting, accounting standards, Preparation of financial statements, cost and management accounting fundamentals, financial analysis, planning and control.