Essentials of Management Accounting (In-House)
Essentials of Management Accounting (In-House)
The Essentials of Management Accounting two weeks course is aimed at financial managers and staff who need to acquire and apply essential management accounting skills and financial management knowledge and skills.
Management accounting is a methodology employed by a company's senior management team to extract business-critical data, such as that regarding the firm's financial position, so that vital day-to-day operational decisions can be made.
Suitability - Who should attend?
Who should attend
The Essentials of Management Accounting training course is for executives and persons responsible from the fields of corporate accounting, who wish to develop their skills and improve their qualification; managers from all fields, in particular from the field of technology and distribution, who seek a better understanding of the terms, contents, and the interpretation of the results provided by controlling and decision makers, who are dependent on controlling-related documents and wish to discuss them on an equal basis.
Outcome / Qualification etc.
By the end of the course, participants will be able to:
- Gain a sound insight into the current systems of Management Accounting
- Learn the principles of production accounts and look at different costing and accounting systems
- Know the essential requirements for a meaningful Management Accounting system and its components
Training Course Content
Accounting-Basics
- Accounting Systems – Overview,
- Tasks and Definitions
- Harmonisation of Management Accounting and Financial Accounting
Basic systems of Management Accounting
- Actual cost system (Cost Type-, Cost Center- and Cost Unit Accounting)
- Standard Marginal Cost Accounting (Allocation base planning, cost classification, standard costing)
- One- and multi-level contribution margin accounting
- Use of contribution margin accounting for decision support (program planning, order acceptance, price limits, Break Even-analyses, etc.)
- Activity-based costing
Further Aspects
- Basic forms of strategic Management Accounting (Target Costing, Life-Cycle-Costing)
- Controlling as the coordination of the entire management system
Financial Planning and Control
- Why organisations set out financial plans in the form of budgets
- How to prepare functional budgets
- How to prepare a 'master budget' based on functional budgets
- How to interpret budget statements and so advise managers on financing projected cash shortfalls and/or investing projected cash surpluses
- Fixed and flexible budgets
Expenses
Course Price: £5590 excl. VAT
Request information - obligation free
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