Strategic Management Accounting, Incorporating Balanced Score Card

Human Resource and Organisational Development Consultancy (HRODC) Training Institute
London, United Kingdom

Course Format: Classroom | E-learning | Virtual Class | Online | On-site | Blended | Self-paced

Course Description:

'' DAY 1 �Management and Cost management Fundamentals

A review of key cost concepts

· The accountant’s role in the organization
· An introduction to cost terms and purposes
· The use of cost management information
· Creating cost-aware organizations
· Review of some key cost concepts
· Product vs. Period costs
· Direct and Indirect Costs
· Cost behavior: Fixed and Variable Costs
· Problems and Examples
Different Approached to Planning and Budgeting

· Fixed and flexed budget (static and flexible budget)
· Rolling budget
· Zero based budgeting
· Activity based budgeting
· Master budget
· From costing to budget: interpreting variances (variance analysis)
· Integrate continuous improvement into variance analysis.
· Problems, Case Study and Exercises
DAY 2 �Traditional and Activity-based Approaches to Costing

· Absorption (Full) vs. Variable costing
· Under-costing and over-costing: the consequences for profitability
· How to refine a costing system?
· Activity-based costing (ABC) and cost-management (ABM)
· Cost hierarchy & Cost drivers
· Linking resources, activities and management
· Introducing Activity-based management (ABM)
· Linkages between ABM and ABC �monitoring value creation
· Problems, Case Study and Examples
DAY 3: Other Advanced Approaches to Costing

· Job-costing systems
· Process costing systems
· Cost allocation
· Cost allocation: joint-cost situation
· Quality and strategic cost management: the concept of TQM
· Problems, Case Study and Exercises
DAY 4 �Cost Planning and Pricing Decisions: Life-Cycle-Costing, Target costing and Target Pricing

· Linking process development to costing
· Costing and pricing for short run
· Costing and pricing for ling run
· Target costing, target pricing and its implications
· Three major influences on pricing decisions
· Distinguish between cost incurrence and locked-in costs
· Cost plus approach to pricing
· Customer profitability analysis
· Life cycle product budgeting and costing to assist in pricing decison
· Problems, Case study and Examples
Day 5: Management Control Systems and Performance Issues: the concept of balanced score card

· Strategic investment units
· Control systems and transfer pricing
· Market based transfer pricing
· Cost based transfer pricing
· Negotiated transfer pricing
· Control systems and performance measurement
· New role for managers and management accountants in designing incentive systems
· Different performance measures
· Financial and non-financial performance measures
· Designing an accounting-based performance measure
· Understand ROI, RI and EVA
· Strategic performance measurement: Balanced scorecared
· Value chain analysis
· Problems, Case study and Examples
...''

Phone:+44 (0) 20 82657008

School Address:

328 Linen Hall, 162-168 Regent Street, London. W1B 5TD, UK
122A Bhylls Lane, Wolverhampton, West Midlands WV3 8DZ, UK



Jobs & Resumes: London
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