Effective Management Accounting

Description

Critics have claimed that traditional managerial accounting is at best useless and at worst dysfunctional and misleading. Most line managers do not trust their management accounting data.

21st Century management accounting develops cost/unit metrics that are useful for budgeting, cost analysis and control. Activity-based costing (ABC) brings truly accurate fact-based costing visibility. ABC does not broadly allocate overhead, but traces costs by identifying cause-and-effect relationships. Such information provides the ability to reveal the true profit margins for products and service-lines as well as for specific sales channels and customers.

The same information also helps reduce costs and improve productivity by reporting unit costs that can be used to monitor cost trends and benchmark against your competition. Removing the barriers caused by your current management accounting techniques can provide huge rewards.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions either during or after the event.

Date/Time

Monday, January 21, 2019
Registration Time: 2:00pm
2:00pm – 4:30pm

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Course Type

On-line Live Vendors

CPE Credit

2.50 hours CPE credit

Field of Study

Accounting

Level of Knowledge

Intermediate

Designed For

CFOs, Controllers, Cost Accountants engineers and other corporate financial professionals

Vendor

CPA Crossings

Prerequisites

Some cost accounting experience is useful

Advanced Preparation

None

Highlights

Fact-based Data with Management Accounting (Activity Based Costing [ABC] )

  • Why do we need advanced management accounting techniques, such as ABC?
  • How the ABC cost assignment network structure connects costs to products, channels, and customers
  • Learn to use ABC to manage product, service-line, channel, and customer profitability
  • Understand two views of costs: (1) process view versus (2) diverse
  • Comparing ABC with time-driven ABC, resource consumption accounting (RCA), lean accounting, and other costing techniques.
  • Operational Costing to Optimize Process Costs
  • How driver-based budgets and rolling financial forecasts lead to productivity improvement and cost reduction
  • Applying "Attributes" to assess "value-added costs" and "costs of quality (COQ)"
  • The Shift in ROI's Source from Tangible to Intangible Assets
  • Increasing the ROI from information - with CPM as a Value-Multiplier
  • Accelerating the Rate of Adoption for Implementing and CPM
  • Understand the barriers that slow the adoption rate of CPM: technical, misperceptions, model design, and social / cultural
  • How to overcome behavioral resistance to change

Objectives

Understand current best management accounting techniques.

Location

N/A (This is a webcast)
Member Fee $89.00
Non-Member Fee $89.00
Your Price $89.00
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