Demonstrate a basic knowledge of managerial accounting
For this week’s second discussion question, you are being asked to engage in a reflective exercise. Below are the course learning outcomes, which can be physically located under the course overview module. Now that you are nearing the conclusion of the course, I would like for you to discuss just how prepared you feel you are in terms of addressing each outcome. If you believe there are certain outcomes which you’re still not as comfortable with, what specific steps (or actions) will you take outside of this course to strengthen these areas? You ARE NOT expected to provide peer responses for this discussion question, but you are welcome to share insights with your peers should you choose to do so.
Demonstrate a basic knowledge of managerial accounting and applicable professional standards.
Analyze internal management issues to determine the accounting impact on the decision making process.
Distinguish between managerial and financial accounting in the decision-making process within the business.
Assess current managerial accounting issues and how they affect the business environment.
Analyze a firm’s financial statements (vertical and horizontal analysis, ratio analysis, segment reporting, etc.) in order to ascertain the performance on its business units.
Develop an operational, financial, and capital budget for a business.
Explain the role of responsibility management accounting and its implications for the manager.
In addition to your perceived comfort with the learning outcomes, I would like to know which learning approaches you found most helpful and why? Finally, do you believe that this course strengthened your critical thinking skills?
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