Advanced Management Accounting Practice Course

This course presents how Strategic Managerial Accounting primarily links the goals of the organization with its analysis of cost accounting as well as its management information systems. But beyond the cost accounting elements, this Strategic Managerial Accounting course takes a significant view of the business and its competitors for developing and monitoring business strategy

Course Objectives

By the end of the course, participants will be able to:

• Identify the function of Management Accounting (MA) and its role in organizations
  • Use accounting principles related to management accounting
  • Describe how to take a successful lead in the management and cost accounting of their organisation
  • Assess MA operations and processes and recommend improvements using the latest best practices
  • Evaluate main issues affecting MA staff to increase their efficiency and productivity

Target Audience

• Managers of accounts, Cost Accountants, MA staff and professionals as well as clerks and specialists who wish to advance their career. The course is also beneficial to professionals in accounting, finance, purchasing and procurement who work closely with Management Accountants.

Target Competencies

• Examine the role of management accounting
• Perform costing
• Prepare and analyse accounts
• Setting key performance indicators (KPIs)
• Apply market intelligence and competitive analysis best practices
• Implementing business strategies
• Budgeting and cost control

Course Outlines

• Significance of Management Accounting
  • Awareness of Competitive Conditions
  • Strategies for Improving Business Operations
• Budgeting
• Costing
• Market intelligence and competitor analysis.
  • Relative Cost Position Analysis

Costing methods

• Comparative production capacity computations
• Economies of scope and scale computations
• Supply chain processes analysis
• Comparative technology deployment
• Setting and auditing the Quality-Cost-Time (QCT) factors of projects.
• Sustainable Cost Analysis
• Management of primary fixed asset base
• Cost control measures
• Supplier relationship analysis and management
• Inventory management
• Economic Value Analysis and management decisions
• Strategic Management Accounting and Net Present Value
• Quantitative analysis of cash flows and the qualitative issues.
• Internal and External Operations Management
• Choice of appropriate business model
  • Integrated Measures
• Balanced Scorecard analysis
• Determined focus on critical result areas
• Discipline with key performance indicators
• Control systems to drive strategy.
  • Pricing Power Matrix

Cost Leadership and Product Differentiation Decisions.