Management Accounting Essentials
London Business Training & Consulting
Key Information
Campus location
London, United Kingdom
Languages
English
Study format
On-Campus
Duration
1 week
Pace
Full time
Tuition fees
Request info
Application deadline
Request info
Earliest start date
Request info
Introduction
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.
Agenda
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
Target Audience
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.
Learning Outcomes
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.