A Program which aims to provide a comprehensive introduction to THE CORE ELEMENTS OF FINANCIAL MANAGEMENT
This Program examines the principles and underlying concepts of financial management, and the ways in which financial information can be used to improve the quality of management decision-making. It has a practical emphasis with many
illustrations and examples. The key topics of Capital Investment Decisions, the Sources of Finance and Financial markets, and the Management of Working Capital are introduced and explained. Technical terminology and key terms are highlighted for rapid understanding of the main techniques and concepts.
The study of this Program should be of particular benefit to students seeking knowledge of business, finance, management and accounting fields; and to professionals and managers who require a working knowledge of financial management; and to those ambitious for careers in financial management and related fields.
Major Topics Covered in this Diploma Program include:
- Scope and definition of cost accounting. Common techniques, and types of information provided. Cost accounting terminology; classification of costs: overheads, direct, total; cost centres and units.
- Cost behaviour; distinguishing differences, classes, prediction of costs, analysis methods and models. Accounting for labour costs, remuneration methods, direct & indirect labour, output, time-based systems.
- Material costs; pricing methods, FIFO, LIFO, AVCO; stock valuation, problems, just-in-time concept. Absorption costing; bases and rates; costs centres; fixed costs and overheads, two-stage process. Activity based costing; importance and
- framework, short- and long- term costs, AMT, cost drivers. Marginal costing, calculations; revenue statements, contribution, breakeven analysis, profit/volume.
- Marginal costing and short-term decision making; make or buy decisions, discontinuing products, opportunity costs. Planning, budgeting; control, zerobased, activity-based, behavioural aspects.
- Relationship of standard costing and budgets; variance analysis: calculation, investigation, analysis. Capital investment appraisal; techniques, discounted cash flows, ARR, IRR, NPV, payback, risk.
