Effective Management Accounting

4.5 (476)

Gary Cokins, CMA, MBA

Analytics-Based Performance Management LLC

Wednesday, September 23, 2020 | 01:30 PM EDT

  • CPA Canada
  • CIA
  • CMA
  • CPA
  • CFE

2 Credits

FREE

Subject Area

Accounting

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Additional Dates

May 31, 2021 | 03:00 PM EDT Register

Course Description

Management accounting is the provision of financial and non-financial decision-making information to managers. In management accounting or managerial accounting, managers use the provisions of accounting information to inform themselves better before they decide matters within their organizations, which allows them to manage better and perform control functions.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. Enter 21st Century management accounting develops cost/unit metrics. They are useful for budgeting, cost analysis, and control.

Activity-based costing (ABC) is really useful because :

  • It brings truly accurate fact-based costs with visibility. 
  • It traces costs by identifying cause-and-effect relationship to just broadly allocating overheads.
  • It this enables to see true profit margin for products and service-lines and for specific sales channels and customers.
  • It reduces costs.
  • It improves productivity by reporting unit costs that can be bench-marked against your competition.
  • It provides a way to monitor cost trends.
  • It removed barriers caused by current management accounting techniques
  • It can provide huge rewards.

An internationally recognized expert, speaker, and author in enterprise and corporate performance management improvement methods and business analytics gives an in-depth understanding and guidance of what this method is and how should you implement it to reap real, long-term benefits for your business.

Learning Objectives

  • To recognize the need of advanced management accounting techniques, such as ABC?
  • How the ABC cost assignment network structure connects costs to products, service-lines, channels, and customers.
  • To explore how to use ABC to manage product, service-line, channel, and customer profitability
  • To identify how to measure customer lifetime value (CLV) for retail customers.
  • To recognize and understand costs across a B2B supply chain’s trading partners.
  • To differentiate between two views of costs: (1) process view versus (2) diverse outputs view
  • To compare ABC with time-driven ABC, resource consumption accounting (RCA),
  • To explore accounting, and other costing techniques.
  • To applying “Attributes” to assess ”value-added costs” and “costs of quality (COQ)”

Who Should Attend?

  • Accountant
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Bookkeeper
  • Cloud Accountants
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Young CPA

Testimonial

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(
    [no_of_record] => 476
    [average] => 4.5000
)
 

4.5

(476)
58%
36%
6%
0%
0%

KS

Great webinar

JP

Good.

AK

It was informative and useful.

TL

The Instructor covered a myriad of concepts that I have heard from different presenters over the years. His breadth of knowledge was great to have in a single source.

MP

Gary was a really great presenter. I am an auditor, not a managerial accountant, but I found his knowledge of this topic really engaging and interesting.

AG

fantastic