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Managerial Accounting

Managerial Accounting

Venue
Date
Training Course
£4,500.00
Choose your own preferred Date or Venue or Contact Us for more details

✅ Total Duration:

  • Regular: 5 Days × 4 Hours = 20 CPD Hours or
  • Intensive: 2.5 Days x 8 Hours = 20 CPD Hours
  • Delivery Format: In-person
  • Target Group: Mid to Senior level managers, team leads, HR professionals, project managers
  • Assessment: Active participation, group activities, capstone project
  • Certificate: CPD Certificate with learning outcomes and hours

Training Course on Managerial Accounting

Overview

  • Managerial Accounting is the internal language of business, providing managers with critical information for planning, controlling, and decision-making within organisations.
  • This course introduces key concepts such as cost behaviour, budgeting, performance measurement, and decision analysis to equip participants with practical skills for effective management.
  • Emphasis on real-world applications, ethical considerations, and strategic use of accounting data to drive organisational success.

Learning Objectives

  • Understand the fundamental principles and concepts of managerial accounting and their role in business management.
  • Develop competence in cost classification, cost-volume-profit analysis, and budgeting techniques.
  • Apply activity-based costing and management control systems to improve decision-making.
  • Analyse financial and non-financial performance measures, including variance analysis and balanced scorecards.
  • Enhance critical thinking and ethical awareness in managerial accounting contexts.
  • Use accounting information to support strategic planning, pricing, and investment decisions.

Training Methodology

  • Interactive lectures combining theory with practical examples and case studies.
  • Group discussions and problem-solving exercises to reinforce concepts.
  • Hands-on activities using real or simulated business data for budgeting, costing, and variance analysis.
  • Use of digital tools and software platforms (e.g., myBusinessCourse) for assignments and immediate feedback.
  • Continuous assessment through quizzes, homework, and group projects to track progress.
  • Ethical scenario analyses to foster awareness of managerial responsibilities.

Organisational and Personal Impact

  • Organisations benefit from improved managerial decision-making, cost control, and resource allocation.
  • Participants gain skills to contribute to profitability, efficiency, and strategic planning.
  • Enhanced ability to communicate financial information effectively across departments.
  • Development of leadership qualities through understanding of performance measurement and accountability.
  • Preparation for roles requiring financial acumen, increasing career advancement opportunities.

Target Audience

  • Mid-level managers and supervisors seeking to improve financial decision-making skills.
  • Professionals transitioning into managerial roles with limited accounting background.
  • Entrepreneurs and business owners aiming to better understand internal financial management.
  • Finance and accounting staff desiring to deepen knowledge of managerial accounting applications.
  • Anyone interested in gaining practical skills for budgeting, cost analysis, and performance evaluation.

Course Outline

Day 1: Introduction and Cost Concepts

  • Introduction to Managerial Accounting: Purpose and scope
  • Key components: Planning, controlling, decision-making
  • Cost classifications: Fixed, variable, direct, indirect
  • Overview of cost behaviour and cost management

Day 2: Costing Systems and Cost-Volume-Profit Analysis

  • Job-order vs process costing systems
  • Activity-based costing fundamentals
  • Cost-volume-profit (CVP) analysis and break-even points
  • Practical exercises on cost allocation and CVP

Day 3: Budgeting and Profit Planning

  • Purpose and types of budgets
  • Preparing master budgets and flexible budgets
  • Variance analysis: Material, labour, and overhead
  • Case study: Budget preparation and variance interpretation

Day 4: Performance Measurement and Management Control

  • Standard costing and variance analysis in depth
  • Balanced scorecard and non-financial performance metrics
  • Responsibility accounting and decentralisation
  • Ethical considerations in managerial accounting

Day 5: Decision Making and Strategic Applications

  • Relevant costing for short-term decisions
  • Pricing strategies and profitability analysis
  • Capital budgeting basics: NPV and IRR methods
  • Integrative case study: Applying managerial accounting to business decisions

Conclusion

  • Managerial accounting is essential for effective management and organisational success.
  • This course equips participants with practical tools and critical thinking skills to analyse costs, plan budgets, measure performance, and make informed decisions.
  • By mastering these concepts, managers can drive profitability, efficiency, and strategic growth within their organisations.
  • Participants are encouraged to continue applying these principles and pursue further learning to stay current with evolving business challenges.

Courses Categories
Leadership and Management

Leadership and Management

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