Introduction:
Managerial accounting is what managers use to measure the success or failure of the business and if the business is meeting its goals. Basically, it’s a way for managers to tell whether their department or project is doing well and meeting expectations. Management goals could have to do with cost-cutting or production output.
Managerial Accounting specifically addresses the elements of accounting that are useful for running a business, which means it’s vital for students pursuing Business degrees, employees looking to increase their skill set and business owners looking to increase profits
Introduction to Managerial Accounting training course will teach you the fundamentals of managerial accounting including how to navigate the financial and related information managers need to help them make decisions. You’ll learn about cost behavior and cost allocation systems, how to conduct cost-volume-profit analysis, and how to determine if costs and benefits are relevant to your decisions.
Course Objectives:
By the end of the Introduction to Managerial Accounting training course, you will be able to:
- Understand what managerial accounting is and why it is important.
- Describe fundamental concepts of managerial accounting.
- Apply the financial perspective of accounting for costs.
- Describe different types of costs and how they are represented graphically
- Conduct cost-volume-profit analyses to answer questions about breaking even and generating profit
- Calculate and allocate overhead rates within both traditional and activity-based cost allocation systems
- Distinguish costs and benefits that are relevant from those that are irrelevant to a given management decision
- Determine a reasonable course of action, given the financial impact, for a given management decision
Who Should Attend?
Introduction to Managerial Accounting training course is ideal for:
- Anyone interested in taking up a managerial role
- Non-financial managers,
- Anyone in a middle or senior managerial or leadership position,
- Those aspiring to move into such a role.
- Those working in finance to refresh their knowledge
Course Outlines:
Introduction to Managerial Accounting
- Managerial Accounting and Cost Terms
- Cost Behavior and Cost-Volume-Profit Analysis
- Job Order Cost Accounting
- Performance management
Process Cost Accounting
- Cost-Volume-Profit Analysis
- Master Budgets and Planning
- Cost management
Internal controls
- Standard Costs and Flexible Budgets
- Capital Budgeting Fundamentals
- Relevant Costs and Decision-Making
Cost behavior
- Fixed VS. Variable Costs
- Mixed Costs
- High-Low Method
- Absorption VS. Variable Costing
- Variable Costing (Problem Solving)
Professional ethics for management accounting professionals
- Financial statement analysis
- Corporate finance
- Decision analysis and risk management
- Investment decision