Management Accounting in Golf Operations 3

Course Code: BPGM 256

Academic Year: 2022-2023

This course takes a deeper look into 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 student 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 student is introduced to financial ratio analysis that is used as a tool to gauge the financial health of a business.The course also introduces the student to defining, classifying and measuring liabilities for the purpose of reporting useful information about them to the decision-maker. The student 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.