Advanced Management Accounting (8-days)

This comprehensive course covers essential aspects of management accounting and financial decision-making. It starts with an introduction to management accounting, highlighting its role in supporting commercial objectives and efficient accounting systems. Attendees will learn about the relationship between costs, sales volume, and profits, including cost allocation and break-even analysis. The programme also explores budgeting and forecasting techniques, along with the behavioral aspects of budgeting. Additionally, participants will understand how to identify and evaluate stakeholder value and select appropriate performance indicators. The course concludes with a review and actionable plan to apply these concepts effectively in the workplace.

This course also provides an overview of key financial management concepts, including investment appraisal methods that consider both financial and non-financial factors while managing risk and uncertainty. Participants will learn how to evaluate organizational performance by comparing results to budgets and understanding the importance of performance indicators. Additionally, the course explores the evolving role of managerial accounting, differentiating between product and service measurement, and incorporating beyond budgeting techniques for strategic financial management.

Accounting For Decision Making

• An Introduction To Management Accounting
• The Importance Of It In Accounting Systems
• How Management Accounting Supports Commerical Objectives

The Key Relationship- Costs, Volume & Profits

• Allocating Costs For Decision-Making Strategies
• Understanding Break-Even Analysis
• Different Types Of Accounting Profits

Control Through Budgeting

• Corporate Planning, Budgeting And Forecasts
• Choosing The Type Of Budget For A Company
• The Behavioural Aspects Of Budgeting

The Importance Of Stakeholder Value

• Identifying And Grouping The Different Stakeholder Types
• How To Identify The Value Of Each Stakeholder Group
• How To Choose Performance Indicators For Stakeholders

Investment Appraisal For Capital Decisions

• The Different Methods Of Investment Appraisal
• Understanding Non-Financial Aspects Of Appraisal
• Considering Risk And Uncertainty In Appraisal

Measuring Financial Performance

• How To Compare Performance With A Budget
• Allocating Responsibility Of Objectives In An Organisation
• Understanding The Importance Of Performance Indicators

Understanding Financial Data Analytics

• The Properties And Components Of Data
• Understanding The Steps In The Analytical Process
• How Organisations Use Analytics To Achieve Objectives

Course Review

• Summary And Recap Of Key Learning Objectives
• Action Planning

Post-Course

• Six (6) x hour-long Executive Coaching sessions at monthly intervals following Course Completion

• Finance Professionals
• Management Accountants
• Financial Analysts
• Business Managers
• Decision-Makers
• Organizational Leaders

By the end of this course, you will be able to implement a successful strategy that enables you to:

• Understand the fundamentals of management accounting and its role in business strategy.
• Recognise the significance of IT systems in enhancing the efficiency and accuracy of accounting functions.
• Explain how management accounting supports the achievement of commercial and strategic objectives.
• Allocate costs effectively to support informed decision-making processes.
• Apply break-even analysis techniques to assess financial viability and operational planning.
• Differentiate between various types of accounting profits and their implications.
• Understand the principles and processes of corporate planning, budgeting, and forecasting.
• Select appropriate types of budgets based on organisational needs and context.
• Recognise the behavioural aspects and implications of budgeting within teams and departments.
• Identify and classify different stakeholder types within an organisation.
• Assess the value and influence of various stakeholder groups in business decision-making.
• Choose and apply performance indicators relevant to stakeholder expectations and business goals.
• Apply different investment appraisal techniques to evaluate potential projects.
• Understand and incorporate non-financial factors in investment decision-making.
• Assess the impact of risk and uncertainty in investment appraisals.
• Monitor and compare actual performance against budgeted figures for accountability.
• Allocate responsibility for achieving strategic objectives across departments and teams.
• Understand the importance and application of key performance indicators (KPIs) in performance management.
• Distinguish between performance measurement techniques for products versus services.
• Describe the role of a strategic management accountant in modern organisations.
• Explore the concept of “Beyond Budgeting” and its relevance in agile financial management.