Accounting for Managers

Authored by Robert Minniti
About this Course
Topics covered include: Ways managers can leverage information; What information should be asked for from accounting department; Role of Technology in Accounting & Business; Financial Statements; Financial Statement Assertions; Errors vs. Fraud; The Fraud Triangle; Definition and requirement of Internal Controls; COSO Framework for Internal Controls; The Accounting Equation; Types of Inventory; Inventory Valuation Methods; Inventory Calculations; Key Definitions; Types of Fixed Assets; Depreciation; TCJA Auto Depreciation; Other Types of Assets; Payroll Accounting; Budgeting; Difference between cost accounting & financial accounting. Upon completing this course, you should be able to: Identify accounting concepts; Recognize how understanding accounting makes a better manager; Identify accounting terminology; Differentiate between cost accounting vs. financial accounting; Recognize which management assertions maintain expenses properly assigned to correct accounts; Identify parts of the COSO framework and how they apply; Differentiate which inventory valuation method is typically used by businesses that sell perishable goods; Recognize how small businesses benefit from the provisions of the Tax Cuts & Jobs Act; Identify types of accounting focused on where revenue is being generated; Describe how a company uses comparisons to current performance with past performance; Recognize why the statement of cash flows is the most difficult financial statement on which to commit fraud; Identify the position of a company at any given point in time; Recognize the starting point of when to apply the COSO framework to financial reporting; Identify prevalent reasons for financial statement fraud in U.S. companies; Calculate the accounting equation for owners equity; Recognize what is reduced when calculating inventory for a manufacturing business; Differentiate depreciation methods Identify the requirements of the revised 2013 COSO Framework; Recognize what is included in retail inventory; Identify examples of intangible assets.
$ 30.00
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NASBA Field of Study
Accounting
Level
Basic
CPE Credits
2.0
Prerequisites
None
Last Updated
06/01/2018
13703