Management Accounting for Human Resources
|Lecture hours per week||4|
|Lab hours per week|
Accounting and finance [A&F], the financial information system of the organization, serves to summarize organizational plans and the results of actual operations from a monetary / economic perspective. 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 decisions made or faced by the HR manager have an accounting or financial aspect/impact. Understand this requires knowledge of A&F procedures and concepts. 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.
(This course was previously catalogued as HRPD-403)