Certificate in Financial Management
Financial Management is an important aspect in Business Management. This course does not train the students to become accountants but it trains the students to understand the financial statements of the company & to assess the financial situation of the company & will be able to perform the financial management.
By doing this course, the students will be able to
· Explain how accounting information assists in making decisions.
· Describe the components of the balance sheet.
· Analyze business transactions and relate them to changes in the balance sheet.
· Compare features of proprietorships, partnerships, and corporations
· Explain how income is measured using both the accrual basis and cash basis accounting methods.
· Use the concepts of recognition, matching, and cost recovery to record revenues and expenses.
· Prepare an income statement and show how it is related to the balance sheet.
· Prepare a statement of cash flows and show how it differs from an income statement.
· Use double-entry accounting.
· Analyze and journalize transactions.
· Post journal entries to the ledgers.
· Prepare and use a trial balance.
· Correct erroneous journal entries and describe how errors affect accounts.
· Use T-accounts to analyze accounting relationships.
· Explain how computers have transformed processing of accounting data
· Explain the concept of the statement of cash flows.
· Classify activities affecting cash as operating, investing, or financing activities.
· Use the direct method to measure cash flow.
· Determine cash flows from income statement and balance sheet accounts.
· Use the indirect method to calculate cash flows from operations.
· Relate depreciation to cash flows provided by operating activities.
· Reconcile net income to cash provided by operating activities.
· Adjust for gains and losses from fixed asset sales and debt extinguishments in the statement of cash flows.
· Use the T-account approach to prepare the statement of cash flows.
Completion of this course can be given the credit in Mgt 106 Financial Management subject in Diploma in Management Course.