Management Accounting - Fundamentals

Overview:

It’s time to dust off those college textbooks and head back to school! For professional accountants that work outside of areas incorporating management accounting, this seminar will help practitioners to review and apply management accounting concepts. Professionals may commonly associate this field with issues such as cost accounting, break-even analysis, and variance analysis. However, management accounting expands far beyond the numerical and statistical concepts to include organizational behavior and employee motivation. In fact, management accounting even incorporates Wharton School Professor Adam Grant’s research on workplace altruism!

Furthermore, management accounting includes creative approaches to problem solving, such as the identification and classification of costs for internal decision making, the use of cost behavior for budgeting and forecasting, effective communication with non-financial managers, and the creation of incentives to align organizational strategy with employee motivations. You will work through problems and case studies as well as collaborate with your peers to discuss the use of management accounting information and tools for solving challenges within your organizations.

Course Content:

This structured course complies with the following organizational format:

• Welcome and introduction
• Decision-making and costing
• Cost-volume-profit analysis
• Relevant costing
• Performance measurement and budgeting
• Communicating with non-financial managers
• Trends in management accounting and conclusion

Learning Objectives:

After finishing this course, you will learn how to:

• Recall management accounting topics and terminology
• Classify different organizational costs by cost behavior and cost function
• Arrange and evaluate cost volume profit (CVP) and relevant costing problems
• Design approaches to relevant costing problems that align with the knowledge of key users
• Identify different types of performance measurement and budgeting tools
• Evaluate organizational strategy and key performance indicators (KPIs)
• Interpret management accounting decisions for non-financial managers
• Identify key trends in management accounting

Who Will Benefit: 

Although most practitioners will profit from this review-based seminar, this session caters to professional accountants transitioning into managerial accounting roles and responsibilities.