Managerial Accounting: Information For Planning, Decision Making And Control
Course Overview
- 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
Course Objectives
- 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
Course Audience
This training program is designed for:
-
Accountants and Financial Analysts seeking to strengthen their knowledge of cost and managerial accounting.
-
Budgeting and Planning Professionals responsible for preparing and analyzing budgets.
-
Financial Controllers and Finance Managers who oversee cost control and performance measurement.
-
Internal Auditors involved in evaluating cost structures and variance analysis.
-
Operations and Department Managers who use cost and financial data for decision-making.
-
Anyone involved in financial planning, reporting, or management decision-making wishing to enhance their skills in managerial accounting.
Course Methodology
This course will be delivered through an interactive approach that combines:
-
Presentations and explanations of key concepts and tools.
-
Practical examples and case studies to link theory with real-world applications.
-
Group discussions and exercises to encourage participant engagement.
-
Hands-on problem solving to apply concepts such as CVP analysis and variance analysis.
Course Outline
Day 1: Managerial Accounting – A Perspective
-
The role of managerial accounting
-
Financial vs. managerial accounting
-
Cost accounting vs. managerial accounting
-
The work of management
-
Organizational aspects of managerial accounting
-
Using managerial accounting for planning, decision-making, and control
Day 2: Cost Concepts, Terms, and Classifications
-
Different costs for different purposes
-
Cost classifications
-
Cost by function
-
Product vs. period costs
-
Fixed, variable, and mixed costs
-
Costs for planning, control, and decision-making
Day 3: Cost Behavior Patterns
-
Analysis of cost behavior
-
Fixed costs: committed vs. discretionary
-
Variable costs
-
Semi-variable costs
-
Contribution margin approach
-
Comparing gross profit to contribution margin
Day 4: Cost-Volume-Profit (CVP) and Break-Even Analysis
-
Defining CVP and break-even
-
CVP analysis
-
Target income calculations
-
Margin of safety calculations
-
Sales mix analysis
-
Break-even analysis
Day 5: Standard Costs and Variance Analysis
-
Responsibility accounting and responsibility centers
-
Standard costs and variance analysis
-
Fixed overhead variances
-
Variance analysis for factory overhead
-
Absorption vs. direct costing