Course Overview
Course Description
This intensive 5-day course provides a comprehensive introduction to managerial accounting principles and practices. Participants will learn essential tools for cost analysis, budgeting, and decision-making that are crucial for business success. The course covers key concepts such as cost behavior, cost-volume-profit analysis, and performance evaluation techniques.
Learning Objectives
- Understand the fundamental concepts and principles of managerial accounting
- Develop skills in cost classification, allocation, and analysis
- Learn to prepare and interpret budgets and variance reports
- Apply managerial accounting techniques to support decision-making
- Gain proficiency in performance measurement and evaluation
Course Modules
Day 1: Introduction to Managerial Accounting
- Overview of managerial accounting concepts
- Differences between financial and managerial accounting
- Cost terminology and classifications
- The role of managerial accounting in decision-making
Day 2: Cost Behavior and Cost-Volume-Profit Analysis
- Fixed, variable, and mixed costs
- Cost-volume-profit relationships
- Break-even analysis
- Contribution margin concepts
Day 3: Job Order and Process Costing
- Job order costing systems
- Process costing systems
- Overhead allocation methods
- Activity-based costing
Day 4: Budgeting and Variance Analysis
- Master budget preparation
- Flexible budgeting
- Standard costing
- Variance analysis and reporting
Day 5: Performance Measurement and Decision-Making
- Responsibility accounting
- Balanced scorecard approach
- Relevant costs for decision-making
- Capital budgeting techniques
Practical Wins for Participants
- Ability to analyze and interpret cost information for better decision-making
- Skills to prepare comprehensive budgets and conduct variance analysis
- Techniques to evaluate and improve organizational performance
- Enhanced capacity to support strategic business initiatives through financial analysis
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