Managerial Accounting: Information for Planning, Decision Making and Control

Code

Start Date

2025-04-27

End Date

2025-05-08

City

Copenhagen

Price

7950 $

Language

Participants

1-15

Hotel

Hotel Meeting Room

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The Course

Managerial accounting is an activity that provides financial and nonfinancial information to business managers and other internal decision makers of an organization. This course examines how managerial accounting information is gathered, and how it is used by business professionals to make effective plans & decisions. Lessons such as fundamentals of managerial accounting, cost accounting concept, and managerial accounting approaches will provide you with the concepts, procedures, and analytical skills you'll need to make informed decisions in today's challenging business world.

Managerial accounting is not as widely used as other forms of accounting, nor is it as known. While companies concern themselves with financial accounting methods like audits, budgets and financial statements, they often completely ignore the forward-thinking methods of managerial accounting.

Key points include:

Managerial vs. financial accounting
Cost-Volume-Profit analysis for decision making
Make vs. buy decisions for planning
Fixed vs. variable vs. mixed costs for control
Capital budgeting that makes a difference

The Goals

This course will help you learn how to:

Cost terms and Concepts
Cost Behavior: Analysis and Use
Direct vs. Absorption Costing
Overhead Costing for Planning and Control
Standard Costs & Variance Analysis
Relevant Costs for Decision Making
Financial Statement Analysis

The Process

This workshop will be highly interactive & participatory. Your seminar leader will present, guide and facilitate learning, using a range of methods including discussions, case studies, real world examples and exercises. Where appropriate, these will include real issues brought to the workshop by delegates. Lessons learned from the seminar will be applied to your own organization.

The Benefits

The improved appreciation for the accounting approach to planning
Reduced inter-functional territorial battles
Higher productivity during the decision making process
Increased skill set in all phases of accounting
Greater ability to use managerial accounting information to control positive outcomes

The Results

By successfully completing this course, delegates will be able to:

Define managerial accounting & its impact on the organization
Make better decisions through the results calculated
Maintain better control of all costs
Plan more accurately using managerial accounting
Describe policies and company components that affect managerial accounting

The Core Competencies

Delegates will gain in the following competencies as a result of the program:

Using financial information for guiding decisions
Understand how to optimize decisions through make vs. buy analysis
Be able to develop & critique plans that create results
Control variances to industry standards
Become comfortable conversing on accounting subjects

The Programme Content

Managerial Accounting: a perspective

The role of Managerial Accounting
Financial vs. Managerial Accounting
Cost Accounting vs. Managerial Accounting
The work of management
The Organization aspects of Managerial Accounting
Using Managerial Accounting for planning, decision-making & control

Cost Concepts, Terms & Classifications

Diff cost s 4 diff purposes
Cost classifications
Cost by function
Product vs. period costs
FC, VC & Mixed costs
Costs for planning, control & decision making

Cost Behavior Patterns

Analysis of cost behavior
Fixed Costs-committed vs. discretionary
Variable costs
Semi-variable costs
The Contribution Margin approach
Comparing Gross Profit to The Contribution Margin

Cost-Volume-Profit & Break Even

Cost-Volume-Profit & Break Even defined
Cost-Volume-Profit analysis
Target income calculations
Margin of safety calculations
Sales mix analysis
Break Even analysis

Standard Costs

Responsibility accounting defined
Responsibility centers
Standard costs & Variance Analysis
Fixed overhead variances
VA for factory overhead
Absorption vs. direct costing

Relevant Costs

Relevant costs defined
Decision-making approaches
Make vs. buy decisions
Sell vs. process decision
Lease vs. buy decision
Adding or dropping a line decision

Capital Budgeting

Capital Budgeting decisions defined
Capital Budgeting techniques demonstrated
Mutually exclusive projects
Capital rationing & decision making
Investment decisions
Decision-making tools

Performance Evaluation

Division evaluation
Return On Investment (ROI)
Profit planning
Residual income (RI)
Controlling results using ROI
Controlling results using RI

Financial Statement Analysis

Ratio overview
Liquidity ratios
Activity ratios
Leverage ratios
Profitability ratios
Market ratios

Statement of Cash Flows

P&L to Cash flow analysis
Accrual basis of accounting
Operations section explored
Investing section explored
Financing section explored
Cash Flow statement to Balance Sheet connection

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