Effective Management Accounting

Learning Objectives

• To recognize the need for 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 apply “Attributes” to assess ”value-added costs” and “costs of quality (COQ)”

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 useful because :

• It brings truly accurate fact-based costs with visibility. 
• It traces costs by identifying cause-and-effect relationships to just broadly allocating overheads.
• this enables us to see the true profit margin for products and service lines and 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.

Gary Cokins - 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.

Click to access more Full-day CPE webinars 

Overview

• Key Questions

  6 mins
• Gary's Part Time Role as the IMA Executive in Residence

  13 mins
• How i became an expert with ABC

  23 mins
• Activity Costs "Pile up" into Outputs.

  38 mins
• Value of Company

  51 mins
• Getting Efficient with Conformance-related COQ

  89 mins