Management Accounting – Level 1

KEY INFORMATION

  • Course Code: 1895
  • Duration: 4 days
  • Fee: £2120

COURSE OUTLINE

Cost and Break-even Analysis

  • Fixed and variable costs
  • Contribution
  • Break-even analysis
  • The margin of safety
  • Interpreting break-even analysis
  • Assumptions underlying break-even analysis

Absorption and Activity-based Costing

  • Direct and indirect costs
  • Absorption costing
  • Calculating a blanket rate
  • Over and under recovery
  • Calculating a department rate to fully cost the product
  • Activity-based costing

Budgeting

  • The advantages of budgets
  • The process of budgeting
  • Preparation of a budget
  • Problems of budgeting
  • Budgets to monitor performance and flexible budgeting
  • Variance analysis

Pricing and Costs

  • Using cost information to price your product
  • Discounts and distribution margins
  • Choosing the appropriate costing method
  • Pricing and product strategy
  • Optimum pricing
  • Target costing
  • Life-cycle costing
  • Transfer pricing

Target audience

This cost and management accounting course is suitable for:

  • Those who wish to understand the implications of decisions made across a range of management accounting issues.
  • Those who wish to develop the ability to analyze, interpret, and question the accounting information they may encounter in a business context.
  • Those who wish to acquire a sound appreciation of accounting and finance in order to communicate and succeed in the business world.
  • Non-accounting staff who desire a practical introduction to the fundamentals of management accounting.

Learning outcomes

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

  • The difference between management accounting and financial accounting.
  • The difference between fixed and variable costs.
  • How to calculate variable and fixed costs using the high-low method.
  • How to use break-even analysis as a decision- making tool.
  • How to calculate and understand contribution, the break-even point, and margin of safety.
  • The limitations of break-even analysis.
  • Why overheads need to be included when costing products.
  • How to calculate a simple ‘blanket’ overhead rate.
  • How to apply absorption costing methods to fully cost out a range of products.
  • The limitations of traditional costing methods.
  • How to calculate a simply activity-based cost.
  • Why a business needs to prepare a budget.
  • The process of preparing a budget.
  • How to prepare a simple budget.
  • The problems of budgeting.
  • The purpose of simple variance analysis.
  • How various methods of costing can impact on pricing.
  • How to calculate prices using cost-plus, sales-margin, and discount methods.
  • How various pricing strategies can be used, including how target and life-cycle costing can affect product pricing.
  • How to calculate internal transfer prices in a variety of ways.

WHAT IS INCLUDED:

  • 24 hours of classroom-based training
  • Apple iPad
Program taught in:
  • English

See 131 more programs offered by London Business Training & Consulting »

Last updated September 10, 2019
This course is Campus based
Start Date
Dec 10, 2019
Apr 6, 2020
Duration
4 days
Full-time
Price
2,120 GBP
Deadline
By locations
By date
Start Date
Dec 10, 2019
End Date
Dec 13, 2019
Application deadline
Start Date
Apr 6, 2020
End Date
Apr 9, 2020
Application deadline
Start Date
Aug 25, 2020
End Date
Aug 28, 2020
Application deadline
Start Date
Dec 1, 2020
End Date
Dec 4, 2020
Application deadline

Dec 10, 2019

Location
Application deadline
End Date
Dec 13, 2019

Apr 6, 2020

Location
Application deadline
End Date
Apr 9, 2020

Aug 25, 2020

Location
Application deadline
End Date
Aug 28, 2020

Dec 1, 2020

Location
Application deadline
End Date
Dec 4, 2020