Effective Management Accounting

  • Accountant
  • CIA
  • CMA
  • CPA (US)
  • CFIRS
  • CWS

Published: December, 2020

Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • What has Caused intrest in CPM?
    3 mins
  • What is Direct and Absorption costing?
    10 mins
  • What is Multiple-stage cost flowing?
    21 mins
  • Combined ABC and Project Accounting
    36 mins
  • Why do Customer-related Costs Matter?
    43 mins
  • Benefits from ABC/M Rapid Prototyping
    55 mins
  • Driving Cost of Quality Downward
    63 mins

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

Course Qualification

Webinar Qualifies For

  • 2 CPE Credit of Accounting & Auditing for Certified Internal Auditors (CIA)
  • 2 CPE Credit of Accounting & Auditing for Certified Internal Auditors (CIA)
  • 2 CPE Credit of Cost Management for Certified Management Accountants (CMA)
  • 2 CPE Credit of Cost Management for Certified Management Accountants (CMA)
  • 2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Gary Cokins, CMA, MBA

Advisor, Gary Cokins

Gary Cokins is an internationally recognized expert, speaker, and author in enterprise and corporate performance management improvement methods and business analytics. He is the founder of Analytics-Based Performance Management, an advisory firm located in Cary, North Carolina at www.garycokins.com . Gary received a BS degree with honors in Industrial Engineering/Operations Research from Cornell University in 1971. He received his MBA with honors from Northwestern University’s Kellogg School of Management in 1974.Gary began his career as a strategic planner with FMC’s Link-Belt Division and then served as Financial Controller and Operations Manager. In 1981 Gary began his management consulting career first with Deloitte consulting, and then in 1988 with KPMG consulting. In 1992 Gary headed the National Cost Management Consulting Services for Electronic Data Systems (EDS) now part of HP. From 1997 until 2013 Gary was a Principal Consultant with SAS, a leading provider of business analytics software. 

About Company

Analytics-Based Performance Management LLC. provides advisory services to organizations, consulting firms, and software vendors with their challenges to get started, implement, and leverage enterprise and corporate performance management (EPM / CPM) methods such as customer profitability analysis (using ABC), analytics, rolling financial forecasts, strategy maps, and balanced scorecards (KPIs).

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.8

16 Ratings

Excellent

13

Very Good

2

Average

1

Poor

0

Terrible

0

LC

Liang Chang, CPA (US)

Dec 22nd, 2020

This lecture is very helpful! It helps me to refresh the Activity Based Costing theory that I learnt from my graduate program. Also, it gives me an idea how accounting professionals can provide valuable information to the management and work with management to come up with right management decisions.

LD

Lisa Diggs, CPA (US)

Jan 30th, 2021

Really amazing content for management accountants.

CS

Charles Sugrim, CPA (US)

Dec 20th, 2021

Good lecture

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