Course: Managerial Accounting: Information for Planning, Decision Making and Control

The Programme Content

Managerial Accounting: a perspective

• The role of Managerial Accounting
• Financial vs. Managerial Accounting
• Cost Accounting vs. Managerial Accounting
• The work of management
• The Organization aspects of Managerial Accounting
• Using Managerial Accounting for planning, decision-making & control

Cost Concepts, Terms & Classifications

• Diff cost s 4 diff purposes
• Cost classifications
• Cost by function
• Product vs. period costs
• FC, VC & Mixed costs
• Costs for planning, control & decision making

Cost Behavior Patterns

• Analysis of cost behavior
• Fixed Costs-committed vs. discretionary
• Variable costs
• Semi-variable costs
• The Contribution Margin approach
• Comparing Gross Profit to The Contribution Margin

Cost-Volume-Profit & Break Even

• Cost-Volume-Profit & Break Even defined
• Cost-Volume-Profit analysis
• Target income calculations
• Margin of safety calculations
• Sales mix analysis
• Break Even analysis

Standard Costs

• Responsibility accounting defined
• Responsibility centers
• Standard costs & Variance Analysis
• Fixed overhead variances
• VA for factory overhead
• Absorption vs. direct costing

Relevant Costs

• Relevant costs defined
• Decision-making approaches
• Make vs. buy decisions
• Sell vs. process decision
• Lease vs. buy decision
• Adding or dropping a line decision

Capital Budgeting

• Capital Budgeting decisions defined
• Capital Budgeting techniques demonstrated
• Mutually exclusive projects
• Capital rationing & decision making
• Investment decisions
• Decision-making tools

Performance Evaluation

• Division evaluation
• Return On Investment (ROI)
• Profit planning
• Residual income (RI)
• Controlling results using ROI
• Controlling results using RI

Financial Statement Analysis

• Ratio overview
• Liquidity ratios
• Activity ratios
• Leverage ratios
• Profitability ratios
• Market ratios

Statement of Cash Flows

• P&L to Cash flow analysis
• Accrual basis of accounting
• Operations section explored
• Investing section explored
• Financing section explored
• Cash Flow statement to Balance Sheet connection

The Scandinavian Academy for Training Center adopts the latest scientific and professional methodologies in training and human resource development, aiming to enhance the efficiency of individuals and organizations. Training programs are delivered through a comprehensive approach that includes:

• Theoretical lectures supported by PowerPoint presentations and visual materials (videos and short films).
• Scientific evaluation of participants before and after the program to measure progress and knowledge acquisition.
• Brainstorming sessions and practical role-playing to simulate real-life scenarios.
• Case studies tailored to align with the training content and participants work nature.
• Assessment tests conducted at the end of the program to evaluate the achievement of training objectives.

Each participant receives the training material (both theoretical and practical) in printed form and saved on a CD or flash drive. Detailed reports, including attendance records, final results, and overall program evaluations, are also provided.

Training materials are prepared professionally by a team of experts and specialists in various fields. At the end of the program, participants are awarded a professional attendance certificate, signed and accredited by the Scandinavian Academy for Training Center.

Program Timings:

• 9:00 AM to 2:00 PM 

The program includes:

• A daily buffet provided during the sessions to ensure participants comfort.
• A closing ceremony on the final day to distribute certificates and celebrate participants achievements.

The Course

Managerial accounting is an activity that provides financial and nonfinancial information to business managers and other internal decision makers of an organization. This course examines how managerial accounting information is gathered, and how it is used by business professionals to make effective plans & decisions. Lessons such as fundamentals of managerial accounting, cost accounting concept, and managerial accounting approaches will provide you with the concepts, procedures, and analytical skills you`ll need to make informed decisions in today`s challenging business world.

Managerial accounting is not as widely used as other forms of accounting, nor is it as known. While companies concern themselves with financial accounting methods like audits, budgets and financial statements, they often completely ignore the forward-thinking methods of managerial accounting.

Key points include:

• Managerial vs. financial accounting
• Cost-Volume-Profit analysis for decision making
• Make vs. buy decisions for planning
• Fixed vs. variable vs. mixed costs for control
• Capital budgeting that makes a difference

The Goals

This course will help you learn how to:

• Cost terms and Concepts
• Cost Behavior: Analysis and Use
• Direct vs. Absorption Costing
• Overhead Costing for Planning and Control
• Standard Costs & Variance Analysis
• Relevant Costs for Decision Making
• Financial Statement Analysis

The Process

This workshop will be highly interactive & participatory. Your seminar leader will present, guide and facilitate learning, using a range of methods including discussions, case studies, real world examples and exercises. Where appropriate, these will include real issues brought to the workshop by delegates. Lessons learned from the seminar will be applied to your own organization.

The Benefits

• The improved appreciation for the accounting approach to planning
• Reduced inter-functional territorial battles
• Higher productivity during the decision making process
• Increased skill set in all phases of accounting
• Greater ability to use managerial accounting information to control positive outcomes

The Results

By successfully completing this course, delegates will be able to:

• Define managerial accounting & its impact on the organization
• Make better decisions through the results calculated
• Maintain better control of all costs
• Plan more accurately using managerial accounting
• Describe policies and company components that affect managerial accounting

The Core Competencies

Delegates will gain in the following competencies as a result of the program:

• Using financial information for guiding decisions
• Understand how to optimize decisions through make vs. buy analysis
• Be able to develop & critique plans that create results
• Control variances to industry standards
• Become comfortable conversing on accounting subjects