Management Accounting course in London, UK
Management Accounting course agenda:
Management Accounting – Cost and Break-even Analysis
- Fixed and variable costs
- 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
- 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
Short-term Decision Making
- What are relevant revenues and costs?
- Make or buy decisions
- Limiting factors
- Upgrading equipment
- Closure of sites or discontinuing products
Investment Appraisal Techniques
- Accounting rate of return
- Payback period
- Net present value
- Discounting to present value
- Internal rate of return
Measuring and Reporting Performance
- Performance measurement: strategy and objectives
- Financial and non-financial performance measurement
- Key performance measures
- The balanced scorecard
- Customer profitability analysis
- Integrated reporting
- Environment accounting and carbon reporting
- Corporate governance
Management Accounting course – Target audience:
This 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 analyse, 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.
Management Accounting course – Learning outcomes
Upon completion of this Management 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.
- Which costs are relevant in short-term decision making.
- Whether an organisation should make or buy products.
- Which products should be prioritised if there are limited resources.
- If a product should be discontinued or a location closed.
- The nature and significance of appraising long-term investments.
- How to use a range of investment appraisal techniques to assess and compare projects.
- The advantages and limitations of each method.
- How a business might set its long-term strategy.
- The performance of a business using non-financial as well as financial measures.
- The use of benchmarking to improve performance.
- How to construct a balanced scorecard.
- How to calculate customer profitability.
- The role of integrated reporting.
- The role of environmental accounting and carbon reporting.
- The need for corporate governance and how ethical and environmental issues should be taken into account.
In addition to LBTC’s Management Accounting course, we also offer training in Financial Accounting. To explore this course, click the link below:
£3745 + VAT