Management Accounting Essentials

Description

Target audience

  • Those who wish to understand the implications of decisions made across a range of management accounting issues.
  • Those who wish to develop the ability to analyse, interpret, and question the accounting information they may encounter in a business context.
  • Those who wish to acquire a sound appreciation of accounting and finance in order to communicate and succeed in the business world.
  • Non-accounting staff who desire a practical introduction to the fundamentals of management accounting.

What you will learn

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

  • The difference between management accounting and financial accounting.
  • The difference between fixed and variable costs.
  • How to calculate variable and fixed costs using the high-low method.
  • How to use break-even analysis as a decision-making tool.
  • How to calculate and understand contribution, the break-even point, and margin of safety.
  • The limitations of break-even analysis.
  • Why overheads need to be included when costing products.
  • How to calculate a simple ‘blanket’ overhead rate.
  • How to apply absorption costing methods to fully cost out a range of products.
  • The limitations of traditional costing methods.
  • How to calculate a simply activity-based cost.
  • Why a business needs to prepare a budget.
  • The process of preparing a budget.
  • How to prepare a simple budget.
  • The problems of budgeting.
  • The purpose of simple variance analysis.
  • How various methods of costing can impact on pricing.
  • How to calculate prices using cost-plus, sales-margin, and discount methods.
  • How various pricing strategies can be used, including how target and life-cycle costing can affect product pricing.
  • How to calculate internal transfer prices in a variety of ways.

 

Further information

London Business Training & Consulting (LBTC)
Provider:
London Business Training & Consulting (LBTC)
Duration:
4 Days
Price:
£1,895 (ex VAT)
Availability:
Scheduled dates
Course type:
Classroom
Locations:
Dubai, London

Contact Information

London Business Training & Consulting (LBTC)

ONE LYRIC SQUARE
Hammersmith
London
W6 0NB

Credentials

Locations