The Top Seven Trends in Management Accounting

  • Accountant
  • 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

  • Who will benefit from this presentation?
    4 mins
  • Multiple-Stage Cost Assignment Tracing
    16 mins
  • Take Actions to Raise the "whale curve"
    25 mins
  • Customer Sales Volume Versus Profits
    35 mins
  • The Key to Scorecards
    48 mins
  • The Analytical Continuum
    65 mins

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

  • To explore how business analytics is an advance over business intelligence and where Big Data fits in.
  • To identify and differentiate strategic KPIs in a balanced scorecard and operational performance indicators (PIs) in dashboards.
  • To properly calculate product, service-line, channel, and customer profitability for analysis, insights and actions.
  • To perform “predictive accounting” for capacity-sensitive driver-based budgets / rolling financial forecasts, what-if analysis, and outsourcing decisions
  • 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

Course Qualification

Webinar Qualifies For

  • 1 CPE Credit of Business Management and Organization for Certified Public Accountants (CPA-US)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1.5 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    1.5
  • 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

4.5

15 Ratings

Excellent

8

Very Good

7

Average

0

Poor

0

Terrible

0

CC

Charles Chalfant, CPA (US)

Dec 25th, 2020

An excellent CPE webinar and links to additional material.

NB

Nicole Bilbrough, CPA (US)

Dec 8th, 2020

Great presentation!

HF

Haley Fell, CPA (US)

Dec 10th, 2020

very informative

DA

Dewey Adams, CMA, CPA (US)

Dec 14th, 2020

Great course

CM

Candice Mccomb, Accountant, CPA (US)

Dec 9th, 2020

Content was good, speaker does refer you back to his website and books often.

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