Every manager in an organisation makes many decisions on a regular basis, many of them financially based. Decision makers use a management information system to assist in making decisions. The accounting information system is one aspect of the management information system that managers use to assist in making decisions. Therefore, it is useful for managers to have a basic understanding of financial statements and management accounting concepts such as costing, pricing, budgeting and break-even analysis to assist them in making decisions.
This unit is an introductory unit in accounting and it introduces the basic concepts and principles of financial and managerial accounting with an emphasis on using those concepts and principles to make business decisions. As a manager, it is useful to consider the role of accounting in business and also in society when making business decisions. Having a basic understanding of accounting concepts will assist the manager in making better quality business decisions as well as making better use of scarce community resources.
There are times when decision makers are faced with ethical dilemmas. This unit, also, explores some basic concepts of business ethics.
- Lecturer: Mike Abu Taleb