Accounting for Decision Making
Gold Coast, Australia
Area of Study
Taught In English
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Recommended U.S. Semester Credits3 - 4
Recommended U.S. Quarter Units4 - 6
Hours & Credits
OverviewCourse DescriptionAccounting for Decision Making introduces the basic concepts and principles of accounting with an emphasis on the use of such concepts and principles in business decision-making. Every manager within an organisation makes various decisions that often require accounting-based information. As a minimum, understanding the basic format of financial statements, the development of financial budgets and costing of products and services is essential to being an effective business decision maker and manager. In this course, the emphasis is on the use of these accounting concepts and principles in business decision-making. It focuses on the practical and functional nature of business decisions from the perspective of financial accounting; managerial costing and budgetary policies; capital investments; and financing of business operations. Upon successful completion of the course, you will be able to read and interpret financial statements in a way that allows you to have an appreciation of their uses and limitations. You will also have become familiar with basic managerial accounting concepts such as budgeting, profit-planning, capital investments and working capital management. At a basic level, you will be able to use this knowledge to make business decisions.Course IntroductionAccounting for Decision Making is a core course that provides a basic introduction to the concepts and principles of accounting in the context of business decision-making. The course is designed to provide the non-accountant with the ability to read and interpret financial statements, together with a basic understanding of managerial accounting concepts such as budgeting and capital investment.Course AimsAccounting for Decision Making aims to help you develop basic core knowledge and skills in relation to the application of accounting from a managerial decision-making and control context. It aims to build your understanding of what an accounting system is and how the information produced by the accounting system (the financial reports, budgets etc.) is used when making business decisions. Further, the course seeks to provide insight on how a person external or internal to the firm can use the financial statements produced by the accounting system to make decisions about the firm's performance. In addition, the course aims to provide an understanding of the basic short-term and long-term planning and control techniques adopted by managers including capital budgeting and working capital management.Learning OutcomesAfter successfully completing this course you should be able to:1 Demonstrate a basic working knowledge of core accounting concepts. These include: the key financial statements and tools employed by external and internal decision-makers in their analysis of the financial performance of a firm.2 Demonstrate the ability to undertake some basic core accounting tasks. These may include but are not limited to: how to analyse the basic financial statements of a business, how to prepare a budget, how to calculate breakeven, how to determine the full cost of a product/service, and how to prepare data for capital budgeting decisions.3 Demonstrate the ability to apply some basic skills in using accounting information to make business decisions. These may include but are not limited to: budgeting, cost-volume-profit analysis, costing, capital investment projects and working capital management.
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Courses and course hours of instruction are subject to change.
Eligibility for courses may be subject to a placement exam and/or pre-requisites.
Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.