This training workshop explains the nature of management accounting and how it aids managers’ decision-making. It looks at the impact that varying levels of costs and volume have on operating profit. The training workshop also demonstrates how budgets are used to control and monitor the performance of an organization.
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
This training workshop 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 training workshop, 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.