This course explains the nature of management accounting and how it aids managers’ decision-making.
The course will also include a site visit to an organization relevant to the course so delegates can develop an understanding of how their contemporaries function in the real-world.
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.
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
- Industrial visit to a relevant organization.
- An insight into the internal working of companies.
- An opportunity to learn through interaction with practising professionals.
- Summary and recap of key learning objectives
- Action Planning
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.
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.
- Develop a practical perspective into contemporary work practices in your field.
- Implement an Action Plan at your workplace using the knowledge and skills acquired through the course.
£3435 + VAT