by Rukhsana Zulfiqar

Created on: January 19, 2010   Last Updated: January 21, 2010

Introduction

Accounting and Finance for Managers is for the executives who do not have Accounting and Financial background. It provides concepts, principles, tools and techniques of Accounting and Finance which are necessary for keeping financial control and for decision making. "The course assumes a management accounting context of a knowledge-based firm, delivering services and operating in a global environment, competing on the basis of its intangible resources and assets." (Norwegian School of Management, 2008) The course is necessary for managers to convert the financial information into managerial decisions. It provides the concepts of all Accounting and Financial principles which greatly help the management to keep a financial control over their organization. "Management accounting tools and arguments are exposed against the backgrounds of strategic, organizational and marketing decisions." (Norwegian School of Management, 2008)

Accounting and Finance for Managers provides "practical and multidisciplinary use of management accounting concepts and tools." (Norwegian School of Management, 2008) The executives of small, medium and large organizations whether public or private can utilize the principles and tools from this course in decision making. Managers develop concepts of day to day accounting for controlling their organization and also gain good understanding of financial statements such as income statement, balance sheet, owner's equity statement, cash flow statements, etc. through it.  They also learn concepts of financial ratios such as Liquidity and profitability ratios, Asset-management ratios, Debt/coverage ratios and Market value ratios which are essential for measuring productivity, liquidity, stability and profitability of their organizations. They can access the profitability and risk of proposals by learning this course. Hence, they can persuade the stakeholders to fund the projects. The managers or future managers learn planning, budget controlling and evaluating profitability through this course. This is useful in achieving the goals of the organization. The efficiency and effectiveness of the firm increases and executives gain financial insight in resolving day to day financial matters.

"The skills and tools learned can be applied by executives, managers and professionals at all levels, from day-to-day operations to the corporate level in governance, policy, strategy formulation, mergers & acquisitions, and project selection,

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