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Managerial Accounting for HR

Course Code HRMT-317
Lecture hours per week
Lab hours per week
Course Availability: Open

Accounting and finance, the “language of business”, the financial information system of the organization, serves to summarize organizational plans and the results of actual operations. Because these are so pervasive in the organization, it is necessary for Human Resources managers to understand the measurement bases and the underlying methodologies used. Many of the decisions faced by the HR manager have an accounting or financial aspect. This may require detailed knowledge of the concepts and procedures. This would be the case, for example, where the HR manager is required to prepare an operating budget for his/ her area of responsibility. Alternatively, it may require a familiarity, without necessarily requiring the ability to perform the calculations, as such. This would be the case where the HR manager is required to interpret, or react, to, standard costing variances in respect to their area of responsibility, or the effect of their decisions on the overall results of the organization.