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The Basics of Management Accounting course is aimed at financial managers and staff who need to acquire and apply essential management accounting skills and financial management knowledge and skills. Management accounting is an increasingly complex methodology with a shortage of professionals who can perform as strategic business partners.
Who Should Attend
The Management Accounting training course is for executives and persons responsible from the fields of corporate accounting, who wish to develop their skills and improve their qualification; managers from all fields, in particular from the field of technology and distribution, who seek a better understanding of the financial terms.
Benefits of the Program
By the end of the course, participants will be able to:
Gain a sound insight into the current systems of Management Accounting
Learn the principles of production accounts and look at different costing and accounting systems.
Know the essential requirements for a meaningful Management Accounting system and its components
Basic systems of Management Accounting
Actual cost system (Cost Type-, Cost Center- and Cost Unit Accounting)
Standard Marginal Cost Accounting
Use of Management Accounting for Decision Making
Basic forms of strategic Management Accounting (Target Costing, Life-Cycle-Costing)
Financial Planning and Control
How to prepare functional budgets
How to prepare a ‘master budget’ based on functional budgets