DAY 1

Management and Financial Accounting: Key Concepts and Terminologies

• Identify the Major Differences and Similarities between Financial and Managerial Accounting
• Understand the Role of Management Accountants in an Organization
• Linking Strategy to Planning and Costing
• The Key Role of Budgeting and Cost Control in Contemporary Organizations
• Towards a Cross-Functional Process-View of the Organization
• Understand Your Processes: Integrating Financial and Non-financial Aspects
• Understanding The Financial Statements
• Video, Examples & Discussions

DAY 2

Cost Analysis

• What is Costing?
• Cost Concepts and Terminology
• Different Costs for Different Purposes
• Fixed vs. Variable Costs: The Cost-Volume-Profit Analysis Model
• Contribution Margin Analysis
• Manufacturing vs. Non-manufacturing Costs
• Period vs. Product costs: Inventory Evaluation and Control
• Case Study

DAY 3

Traditional vs. Advanced Techniques in Cost-control

• Under-costing and Over-costing: The Consequences for Profitability
• How to refine a Costing System?
• Indirect vs. Direct Costs
• Traditional Cost Allocations Systems vs. Activity-Based Costing
• Cost Hierarchy & Cost Drivers
• Linking Resources, Activities and Management
• Introducing Activity-Based Budgeting and Management
• Video, Case Study and Examples

DAY 4

Budgeting: Flexible Budgets and Variance Analysis

• The Role of Budgeting
• Define the Master Budget and Explain Its Major Benefits to An Organization
• Describe the Difference between a Static Budget and a Flexible Budget
• Compute Flexible-budget Variances and Sales-volume Variances
• Discuss The Behavioral Implication of Budgeting
• The Budgeting Process in Your Organization: How to improve it?
• Which tools shall we use to complement Budgeting and Costing?
• Problems, Case Study and Exercises

DAY 5

Measuring Corporate Performance: The Balanced Scorecards and Six-Sigma

• Broadening Performance Measurement Systems
• The Key Role of Customer Satisfaction and Business Process Re-engineering
• Beyond Budgeting: Integrating Financial and Non-financial Issues
• Introducing The Balanced Scorecard
• The Key Perspectives
• Introducing The Strategy Maps
• Introducing Six-Sigma
• Video, Case Study and Examples