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Course Objectives

Upon successful completion of this course, students will understand cash and accrual accounting, basic recordkeeping, ledger and journal entries and financial statement preparation.

Agenda

  • Qualitative vs. Quantitative Decision-Making
  • Standards
  • Effective and Efficient Decisions
  • Constraints

  • The Balance Sheet and Income Statement
  • Statements of Cash Flow
  • What the Financial Statements Do Not Tell You

  • Maximizing Profit or Minimizing Cost
  • Thinking in Units
  • Defining Cost

  • Fixed, Variable, and Mixed Costs
  • Relevant Range
  • Cost Per Unit
  • Cost Categories on the Income Statement
  • Discerning Variable Costs
  • Discerning Mixed Costs

  • Contribution Margin on the Income Statement
  • Activity-Based Costing
  • Non-Value-Added Activity

  • The Cost-Volume-Profit Graph
  • The Contribution Margin Approach to Break-Even
  • Calculating ‘What If’ Profit
  • Margin of Safety

  • Defining Operating Leverage
  • Operating Leverage and the Bottom Line

  • Pricing in Line with the Competition
  • Trade-Offs Between Price and Demand
  • Elasticity of Demand Illustrated
  • Market and Cost Influences on Pricing
  • Qualitative Factors in Relation to Price

  • Responsible Decision-Making
  • Quality Mangement
Tags
Vendor: Logical Operations Applications Core Type: Core 1 Product Line: Business Skills
FREE

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Course Type: Instructor Led