Introduction to Managerial Accounting
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Introduction to Managerial Accounting Course
Introduction:
Managerial accounting is the tool managers utilize to assess the success or failure of a business and determine if it is meeting its objectives. Essentially, it provides managers with a means to evaluate the performance of their departments or projects and determine if they are meeting expectations. Management goals may revolve around cost reduction or increasing production output.
Managerial Accounting focuses specifically on the accounting elements that are essential for running a business. As a result, it is crucial for students pursuing Business degrees, employees seeking to enhance their skill set, and business owners aiming to maximize profits.
The Introduction to Managerial Accounting training course is designed to provide a solid foundation in the fundamentals of managerial accounting. It will equip you with the knowledge to navigate financial and related information that managers require to make informed decisions. Throughout the course, you will learn about cost behavior and cost allocation systems, conduct cost-volume-profit analysis, and determine the relevance of costs and benefits in decision-making processes.
By completing this course, you will gain the skills necessary to analyze financial data, interpret it effectively, and use it to inform your managerial decisions. Whether you are a student, an employee, or a business owner, this course will enhance your understanding of managerial accounting and empower you to drive business success.
Course Objectives:
By the end of the Introduction to Managerial Accounting training course, you will be able to:
- Understand what managerial accounting is and why it is important.
- Describe fundamental concepts of managerial accounting.
- Apply the financial perspective of accounting for costs.
- Describe different types of costs and how they are represented graphically
- Conduct cost-volume-profit analyses to answer questions around breaking even and generating profit
- Calculate and allocate overhead rates within both traditional and activity-based cost allocation systems
- Distinguish costs and benefits that are relevant from those that are irrelevant for a given management decision
- Determine a reasonable course of action, given the financial impact, for a given management decision
Who Should Attend?
Introduction to Managerial Accounting training course is ideal for:
- Anyone interested in taking up on a managerial role
- Non-financial managers,
- Anyone in a middle or senior managerial or leadership position,
- Those aspiring to move into such a role.
- Those working in finance to refresh their knowledge
Course Outlines:
Introduction to Managerial Accounting
- Managerial Accounting and Cost Terms
- Cost Behavior and Cost-Volume-Profit Analysis
- Job Order Cost Accounting
- Performance management
Process Cost Accounting
- Cost-Volume-Profit Analysis
- Master Budgets and Planning
- Cost management
Internal controls
- Standard Costs and Flexible Budgets
- Capital Budgeting Fundamentals
- Relevant Costs and Decision Making
Cost behavior
- Fixed VS. Variable Costs
- Mixed Costs
- High-Low Method
- Absorption VS. Variable Costing
- Variable Costing (Problem Solving)
Professional ethics for management accounting professionals
- Financial statement analysis
- Corporate finance
- Decision analysis and risk management
- Investment decision