This course explains the nature of management accounting and how it aids managers' decision-making. It looks at the impact that varying levels of costs and volume have on operating profit. The course also demonstrates how budgets are used to control and monitor the performance of an organization.

The course will wrap with a summary of the key learning points, followed by an action planning exercise with a view to apply the acquired knowledge and skills immediately upon your return to work. Post-course support is also available in relation to the implementation of your action plan, up to six (6) months following course completion.

Agenda

Accounting for Decision-making

Key characteristics of accounting information

The role of information technology

Commercial objectives

Capex and opex

The Key Relationship – Cost, Volume, Profits

Costs for decision-making

Breakeven analysis

Types of profit

Cost management strategies

Control through Budgeting

Corporate plans

Budgets and forecasts

Types of budgets

Behavioural aspects of budgeting

Management Accounting – Importance of Stakeholder Value

Defining the identity and grouping of stakeholders

Defining stakeholder value of each group

Creating the appropriate range of performance indicators

Course Review

Summary and recap of key learning objectives

Action Planning

Target Audience

This course is suitable for:

• Staff responsible for budget preparation and reporting.
• Managers who are budget holders or have budget responsibility.
• Staff with planning responsibility who need a deeper understanding of costs and budgets.

Learning Outcomes

Upon completion of this course, you will be able to:

• Understand how the finance function can create a decision support structure for managers.
• Explain the relationship between cost, volume and profits and why this is important to managers.
• Explain the scope of budgeting as a planning and control tool.
• Implement an Action Plan at your workplace using the knowledge and skills acquired through the course.