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THE TOP SEVEN TRENDS IN MANAGEMENT ACCOUNTING

4.5 (171)

Gary Cokins, CMA, MBA

Analytics-Based Performance Management LLC

Monday, August 31, 2020 | 11:00 AM EDT

  • CPA

1.5 Credits

FREE

Subject Area

Business Management and Organization

Webinar Qualifies For

1.5 CPE credit of Business Management & Organization for all CPAs

1.5 CPD credit (Verifiable) for Canadian CPAs

1.5 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

In management accounting or managerial accounting, managers use the provisions of accounting information in order to better inform themselves before they decide matters within their organizations, which aids their management and performance of control functions. Management accounting is more than a vital process of preparing management reports and accounts with accurate and timely financial and statistical data. It is also a profession that involves management decision making, devising planning systems, and assisting management in the creation and implementation of an organization’s strategy. The field of management accounting is experiencing a punctuated shift toward more progressive methods and practices because : 

  • business marketing and sales techniques  are increasingly customer centric and require predictive planning 
  • operational manager needs to improve productivity by removing waste, shortening cycle times, and increasing efficiency and effectiveness

The million dollar question is that what are the top trends with management accounting? This presentation examines how cost modeling has evolved over the last century. It will describe the trends and obstacles that have helped or delayed developments. Collecting, validating, and reporting data is not the same thing as analyzing the information that can be gleaned from data.This webinar would cover the top 7 trends in management accounting including : 

  • Channel and customer profitability reporting
  • Integration of corporate and enterprise performance management (CPM/EPM) methods (e.g., strategy maps, balanced scorecard), Driver-based rolling financial forecasts
  • Applying analytics
  • Co-existing methods (e.g., lean accounting). 

Learning Objectives

  • Understand how business analytics is an advance over business intelligence and where Big Data fits in.
  • How to identify and differentiate strategic KPIs in a balanced scorecard and operational performance indicators (PIs) in dashboards.
  • How to properly calculate product, service-line, channel, and customer profitability for analysis, insights and actions.
  • How to perform “predictive accounting” for capacity-sensitive driver-based budgets / rolling financial forecasts, what-if analysis, and outsourcing decisions
  • How to overcome implementation barriers such as behavioral resistance to change and fear of being held accountable.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Auditors
  • Bookkeeper
  • Business Owner
  • CFO/Controller
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Finance Pros
  • HR Professionals
  • Tax Firm
  • Tax Pros

Testimonial

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    [no_of_record] => 171
    [average] => 4.5029
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4.5

(171)
59%
35%
5%
1%
1%