Full-time MBA Accounting for Managers: Improving the quality of your decision making
“I now understand the core of Accounting and how critical it is to reach the next professional level. The knowledge gained also taught me how to improve the quality of my decision-making process.”
This said current full-time MBA student Alisher Jafarov after completing the 4th module of the programme. “Accounting for Managers is something I was expecting to have during my MBA journey to build a profound business base for my next role as a Digital Leader. As my experience comes from Commerce and Management Consulting areas, there was no need to explore Accounting before deeply, and, to be honest, it was not my favourite area during the last ten years. However, the new knowledge and experience I’ve gained from the classes next to assignments all helped me to shift my business mind-set in a way to be able to see the bigger picture where numbers may tell more than I was thinking before.”
The lecturer, Mr. Alexander Bruggen – Professor of Management Accounting, did not only focus on traditional accounting but also on how to apply it during the operations of a company. “This provided us with several practical approaches and made it clear that we need to go beyond classic accounting and see how numbers can help us to answer questions like: how financially healthy is the company? Which investment strategy will be better to consider? Which elements should be included in the Balanced Scorecard etc. The lecturer also adapted to the class requirements, facilitated a healthy discussion between the students, and pushed us to share our own unique experiences from our professional backgrounds. And every time it happened, we started to share and learn from each other’s experiences and how we can act in different cases.”
About the Accounting for Managers module
The module focused on the use of current reporting and accounting concepts in international business. It discussed how accounting information can be interpreted and used in managerial decision-making and participants received an overview of financial decision-making and its art form.
Financial reporting is a topical issue in current years especially since abuses and irregularities have highlighted its critical importance in organisational transparency. It has a major impact on the proper and appropriate functioning of the economy. Recent years have seen trends in its globalisation and vibrant debates have been sparked on best practices and on the practicalities and possibility of using global accounting standards.
Financial reporting constitutes the basis of economic decision-making; hence its importance cannot be underestimated. It is widely perceived to be regulated and meant to follow the rules. During the module, it was discussed how possible the mechanistic application of rules is and what the implications may be for corporate behaviour and for investor decisions.
The second half of the course focused on managerial accounting. This is largely aimed at planning and controlling with the help of financial and nonfinancial information in organisations. Participants have learned how to use quantitative information for decision-making and how best to structure it to facilitate understanding.
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