This course will give a complete look of how accounting data is gathered, recorded, how it is analysed and exhibited both inside and remotely, to help successful administration, control, and decision making. This is significant because that key personnel in a firm use accounting data which is frequently said to be the ‘language of business’; henceforth it is fundamental to comprehend and to have the capacity to utilize this language.
This course will likewise introduce candidates to the frameworks and structures of financial and the management accounting and their value in ensuring the success of the business. Candidates will be presented to and enjoy an ‘MBA Level’ experience in terms of content.
- Members of the Operational Management team.
- Managers who have responsibility for Departments Performance.
- Consultants who provide advice on systems and operations.
Introduction to Accounting
- The significance of accounting data
- The job of the Finance Function
- The accounting equation and financial related accounting systems.
- Reporting facts and applying judgment.
- Preparing the Income Statement and Balance Sheet.
- Accounting standards and bookkeeping benchmarks.
- The structure of the Income Statement
- The structure of the Balance Sheet
- The impact of deterioration and impairment on profit.
- Specifying and valuing stock.
- Cash flow Statement preparation.
- The significance of cash flow in business.
Management Accounting for Control and Decision-Making
- Analysing costs and Combining.
- The direct and indirect expenses structure.
- Handling overheads – absorption costing or ABC?
- Cost-Volume-Profit and break-even analysis.
- Methods of Decision making – make or purchase.
- Methods of Decision making – the effect of limiting factors.
Communicating the plan through Budgeting
- Corporate arranging and corporate targets executed through budgeting.
- The method of budgeting and timescale.
- Sales budget anticipating procedures.
- Cascading the financial limits over the entire business.
- Arranging practical budgets and the cash budget plan.
- Budgeting standards, strategies and applications.
Measuring performance to inform Decision Making
- presenting Monthly the board detailing
- putting and utilizing models.
- Specifying and figuring variances.
- performing and arranging variances – who is capable?
- Measuring duty focus performance, ROI, RI, and EVA.
- Non-financial performance – the Balanced Scorecard.