In order to make right strategic decisions management should clearly understand how their decisions will affect a company’s business processes and the overall financial result. In this regard not only financial specialists who directly engaged in accounting and providing management information but also management making decisions on the basis of management reports analysis should be familiar with management accounting basics.
The main goal of management accounting is to help managers in making reasonable and objective decisions.
During the course students will:
- Get insight into an enterprise’s financial analysis and learn to make competent and reasonable management decisions based on financial data.
- Get an overview of financial planning and forecasting instruments and learn to apply them in practice.
- See the difference between fixed, variable, semi-fixed and semi-variable costs.
- Get acquainted with cost management system based on the concept of "relevance".
- Become familiar with activity-based costing system (ABC costing) and CVP - analysis (costs, volume, profit).
- Study principles of price setting.
- Get insight into investment projects management and assessment (NPV, IRR, etc.).
Management accounting training format
Corporate management accounting training can be conducted in the following formats:
- an intensive basic training for a few days (3-8 days);
- a full course training in off-work hours (4-5 months);
- distance learning through online learning support system (4-5 months).
The course syllabus and schedule are adapted to the needs of every client: some aspects of the course can be given more attention, and some can be studied in less detail. A key feature of FIN.by trainings is its online learning support system test.fin.by, which allows students:
- to test their knowledge through online tests and assignments after each topic, which are graded automatically;
- to ask questions regarding theoretical material and get a prompt and detailed response from qualified professionals practicing in the field of management accounting.