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Objectives

• This course will discuss:
• Learn how to build and use financial statements to evaluate the financial / strategic performance of an organization
• Management use of advanced and strategic management accounting information
• Strategic planning for business success
• Cost management and Strategy
• Different Approaches to Costing
• Product costing in multinational firms
• Cost Planning and Budgeting
• Decision Making with Relevance Costs and a Strategic Emphasis
• Performance measurement and balanced score card
• A new role for the management accountant
• Designing strategic management accounting systems
• Operating strategic management accounting systems

The Delegates

• Chief Accountants.
• Group Finance Directors.
• Heads of Finance.
• Finance Managers.
• Financial Controllers.
• Accountants.
• Management Accountants.
• Executive Directors of Finance.
• Managers of Financial Accounts.
• Heads of Accounting and Administration.
• Finance and Information Systems Managers.
• Financial Analysts.
• Portfolio Managers

 

The Contents

• Management and Cost management Fundamentals
• The accountant’s role in the organization
• An introduction to cost terms and purposes
• The use of cost management information
• Creating cost-aware organizations
• Review of some key cost concepts
• Product vs. Period costs
• Direct and Indirect Costs
• Cost behavior: Fixed and Variable Costs
• Problems and Examples
• Different Approached to Planning and Budgeting
• Fixed and flexed budget (static and flexible budget)
• Rolling budget
• Zero based budgeting
• Activity based budgeting
• Master budget
• From costing to budget: interpreting variances (variance analysis)
• Integrate continuous improvement into variance analysis.
• Problems, Case Study and Exercises
• Traditional and Activity-based Approaches to Costing
• Absorption (Full) vs. Variable costing
• Under-costing and over-costing: the consequences for profitability
• How to refine a costing system?
• Activity-based costing (ABC) and cost-management (ABM)
• Cost hierarchy & Cost drivers
• Linking resources, activities and management
• Introducing Activity-based management (ABM)
• Linkages between ABM and ABC – monitoring value creation
• Problems, Case Study and Examples
• Other Advanced Approaches to Costing
• Job-costing systems
• Process costing systems
• Cost allocation
• Cost allocation: joint-cost situation
• Quality and strategic cost management: the concept of TQM
• Problems, Case Study and Exercises
• Analysis of corporate performance :
• Learning outcomes :
• Operating and Financial Review
• Other guidance in analysis
• Linking ratios to the cash flow statement
• Segmental information
• Test your understanding
• Application
• Problem solving and evaluation
• Activities for study groups
• Performance evaluation and feedback reporting :
• Learning outcomes :
• Preparing performance reports
• Performance evaluation
• Benchmarking
• Non-financial performance measures
• The Balanced Scorecard
• Management use of performance measurement
• Further discussions
• Test your understanding
• Cases for study groups
• Application
• Problem solving and evaluation
• Management Control Systems and Performance Issues: the concept of balanced score card
• Strategic investment units
• Control systems and transfer pricing
• Market based transfer pricing
• Cost based transfer pricing
• Negotiated transfer pricing
• Control systems and performance measurement
• New role for managers and management accountants in designing incentive systems
• Different performance measures
• Financial and non-financial performance measures
• Designing an accounting-based performance measure
• Understand ROI, RI and EVA
• Strategic performance measurement: Balanced scorecared
• Value change analysis
• Problems, Case study and Examples

The Discount

10% in case of Three P. (or more)