Managerial Accounting in Golf Operations 1

Course Code: BPGM 242

Academic Year: 2017-2018

This course introduces students to basic financial analysis of the income statement, the balance sheet and the statement of retained earnings. It introduces the statement of cash flows that takes the students from the realm of score keeping to analyzing how management has used capital and other resources to fund business activities. At the same time, the students are introduced to the financial ratio analysis that is used as a tool to gauge the financial health of a business. The course also introduces the students to defining, classifying and measuring liabilities for the purpose of reporting useful information about them to the decision-maker. The students will actively demonstrate knowledge of liabilities, such as warranties, taxes and short-term notes payable and bonds, by figuring interest rates and returns. The course also deals with profit planning, budgeting, financial planning and decision-making, examining how volume, price, product mix and product costs relate to one another; the interdependence of the financial structure and capital structure of a business entity; and the setting of corporate objectives and priorities, projected financial results and the feedback mechanisms comparing actual results to predetermined standards. The objective of this course is to demonstrate how financial information is used in forecasting, budgeting and measuring the various financial operations of a business enterprise.