Managerial Accounting in Action

Interpret and apply financial information to improve operational forecasting. Raise organizational performance through financial knowledge.

Description

This course covers the essentials of managerial accounting and information reporting. By learning how to interpret and apply financial information, you will achieve better operational forecasting and organizational performance.

This course teaches you how financial reports measure business performance. It will help you understand how various operating tactics support your business strategy. After completing the program, you will understand the process of operational planning and cost-volume-profit analysis.

Who Should Take This Course?

Hospitality professionals who seek an understanding of managerial accounting to make informed decisions that can enhance their current job performance, better solve organizational problems, or prepare them for advancement.

Course Format

All eCornell courses are delivered online and are self-paced. An eCornell instructor leads the online discussions, grades any course projects, and is available to answer specific questions about the course content.

This course contains the following modules:

• Fixed and Variable Costs
  • Classifying fixed and variable costs
  • Analyzing cost behaviors
  • Understanding revenue per available room (RevPAR)
• Cost-Volume-Profit Analysis
  • Setting profit goals
  • Plotting and interpreting the CVP graph
  • Comparing profits
  • Projecting profits
• Variance Analysis
  • Assessing profit projections
  • Internal and external factors affecting profit
• Comparative Analyses
  • Internal and external comparative analyses
  • Accounting metrics

Benefits to the Learner

After completing this course, participants will be able to:

• Categorize costs into "fixed," "mixed," and "variable"
• Analyze cost behavior by using the appropriate accounting metrics
• Calculate desired profitability by using the appropriate accounting metrics
• Conduct a Cost-Volume-Profit (CVP) analysis to compare and project profits
• Conduct a variance analysis to compare projected and actual profits
• Perform internal and external comparative analyses using the appropriate accounting metrics

Authoring Faculty

Robert M. Chase, Professor Emeritus

Sponsoring School

Cornell University's School of Hotel Administration

Total Learning Time

Approximately twelve to fifteen hours over a period of four weeks.

Certificate Information

This course can be applied toward the following certificate:

• Master Certificate in the Essentials of Hospitality Management