Managerial Accounting for Human Resources Management HRMT-317
|Course Name||Managerial Accounting for Human Resources Management|
|Description||Managerial Accounting for Human Resource Management will teach you about the accounting or financial aspects of the many decisions faced by human resource (HR) managers.
Accounting and finance (the "language of business"), and the financial information system of the organization serve to summarize organizational plans and the results of actual operations. Because these are so pervasive in the organization, it is necessary for HR managers to understand the measurement bases and the underlying methodologies.
This course will give you a detailed knowledge of concepts and procedures, including financial statements, statement analysis, budget, cost behaviour, capital budgeting and more. These topics will be presented through quizzes, in-class assignments and a final test.
In the real world, the knowledge you obtain in Managerial Accounting for Human Resource Management will be useful if, for example, you are required to prepare an operating budget for your area of responsibility. Another way in which you will use the knowledge gained in this course will be to interpret or react to standard costing variances in respect to your area of responsibility or the effect of your decisions on the overall results of the organization.
As a result of this offering, you will reliably demonstrate the ability to:
• Understand the nature of financial accounting, management accounting and finance, and how they relate to the rest of the organization;
• Understand the conceptual foundations of financial accounting, management accounting and finance, and be familiar with the principal reports they produce (particularly those likely to be used by HR managers);
• Execute detailed calculations and interpretations (with particular emphasis on applications in the human resources area) of the income statements, the balance sheet and the statement of cash flows, financial ratios, contribution margin and break-even analysis, the preparation of operating budgets, net present value, payback and return on assets for investment proposals;
• Differentiate between capital and operating budgets;
• Prepare operating budgets including the application of activity based costing, transfer pricing and allocation of service department costs;
• Develop appropriate measures of corporate performance for use in the "balanced scorecard."
|Notes||Pre-requisite: Financial Accounting 1 ACCT-112 or Accounting and Finance Concepts ACCT-123 or permission of the department.
(Students registered in Program 7200 - no pre-requisite is required to enroll in this course.)
Required course for the following outside certifications: Canadian Institute of Management, HRPA of Ontario, The Canadian Payroll Association.
This course is offered in both CE and Distance Learning formats.
For further information regarding Distance Learning, visit www.centennialcollege.ca/dl or email firstname.lastname@example.org.
|Section||Cost||Semester||Start Date||End Date||Meeting Times||Campus|
|Legend for Days
M - Monday T - Tuesday W - Wednesday R - Thursday F - Friday S - Saturday U - Sunday
TBA - To Be Announced