Management Accounting Essentials

This course explains the nature of management accounting and how it aids managers’ decision-making. It looks at the impact that varying levels of costs and volume have on operating profit. The course also demonstrates how budgets are used to control and monitor the performance of an organization.

The course will wrap with a summary of the key learning points, followed by an action planning exercise with a view to apply the acquired knowledge and skills immediately upon your return to work. Post-course support is also available in relation to the implementation of your action plan, up to six (6) months following course completion.

Accounting for Decision-making

• Key characteristics of accounting information
• The role of information technology
• Commercial objectives
• Capex and opex

The Key Relationship – Cost, Volume, Profits

• Costs for decision-making
• Breakeven analysis
• Types of profit
• Cost management strategies

Control through Budgeting

• Corporate plans
• Budgets and forecasts
• Types of budgets
• Behavioural aspects of budgeting

Management Accounting – Importance of Stakeholder Value

• Defining the identity and grouping of stakeholders
• Defining stakeholder value of each group
• Creating the appropriate range of performance indicators

Course Review

• Summary and recap of key learning objectives
• Action Planning

This course is suitable for:

• Staff responsible for budget preparation and reporting.
• Managers who are budget holders or have budget responsibility.
• Staff with planning responsibility who need a deeper understanding of costs and budgets.

Upon completion of this course, you will be able to:

• Understand how the finance function can create a decision support structure for managers.
• Explain the relationship between cost, volume and profits and why this is important to managers.
• Explain the scope of budgeting as a planning and control tool.
• Implement an Action Plan at your workplace using the knowledge and skills acquired through the course.