Accounting courses
Management accounting deals with identifying, quantification, buildup, evaluation, planning, clarification, and passing of information that is applied by management to formulate, analyze and manage as well as the assurance of the relevant application and liability of its resources (Maher, Stickney, & Stickney, Mar 18, 2011). A management accountant uses his or her skills and knowledge in the planning and demonstration of financial and other decision making information so as to support management and creation of rules as well as preparation and management of the operation in process. This hence helps to strengthen and support knowledge that is acquired in financial an accounting information system to a great extent.
In offering accounting information and finance, management accounting helps one as well as the organization to create cost-benefit evaluation of every aspect and the most appropriate decision is acquired. Take for instance a soap industry, if the company requires information on the expected sales volume, profit levels and cost input. The skills and knowledge acquired will make one answer this question. Any decision made will impact on the cost, profit and accounting information. This information will be applied in the preparation of budgets by the management accountant. Information on management accounting like in day to day sales report is necessary in making decisions on the number of units created. Statistics knowledge is hence vital in manipulating the numbers in the sales and revenue or companies.
In a corporate finance course, one will be able to develop and improve one’s analytical skills and knowledge in several capacities of Corporate Finance. One will be able to acquire accounting and corporate skills that are quite extensive; basic financial skills, mathematical skills, management skills, accounting and finance knowledge (Warren, Reeve, & Duchac, Oct 20, 2008). This course is vital for the people who are interested to integrate in the area of business. Important financial decisions are able to decide the success of an organization. It is hence that knowledge on finance is quite critical so as to be successful. This will definitely be useful in building on financial skills. Knowledge in business law will be critical in the legal aspect of the corporate area. This hence brings about the buildup of finance, business law and accounting of finance.
A financial auditor in the finances aspects considering that financial transactions done in finance, and accounting would require updating of information and new tools to be applied, auditing skills will be relevant and both would correlate well. The tools acquired correlate to auditing levels and are applied in corporate financial statements. A course in accounting information system in relation auditing would make it possible for one to become experienced in accounting aspects like in general accounting principles and the manner as to which they are used in certain statements like balance sheets and statement of income. In terms of skills and knowledge in statistics, auditors make it possible for a company to be operated in the best way possible. The records are kept correctly while its taxes are paid better and timely.
In business law one is tested on the knowledge and acceptance of professional and legal responsibilities of accountants. Skills and knowledge acquired from business law lay on the legal aspects of business operations, more so in relation to accounting, auditing, and financial reporting. One would be able to analyze the framework of an organization so as to know the impact of applied laws and guidelines on how a business is organized, governed and works. One would also be in a position to analyze the benefit of a client’s operations including the buying agreements, leases and loans.
It hence comes to being that the courses in auditing corporate finance and managerial accounting are in varied ways related to finance, statistics, business law and accounting information system. They all affect each other quite differently but result to additional of quite important skills.
Bibliography
Maher, M. W., Stickney, C. P., & Stickney, C. P. (Mar 18, 2011). Managerial Accounting: An Introduction to Concepts, Methods and Uses. Mason: Cengage Learning.
Warren, C. S., Reeve, J. M., & Duchac, J. (Oct 20, 2008). Corporate Financial Accounting. Mason: Cengage Learning.
