Module 1: Introduction to Management Accounting and Cost Concepts

·       The role of management accounting in organizations

·       Differences between management and financial accounting

·       Cost classification: fixed vs. variable, direct vs. indirect, product vs. period

·       Cost behavior analysis

·       The cost accounting cycle

·       Practical session: Classifying different costs for a manufacturing company.

Module 2: Cost Accounting Systems

·       Job order costing: principles and applications

·       Process costing: principles and applications

·       Hybrid costing systems

·       Activity-based costing (ABC) overview

·       Choosing the appropriate costing system

·       Practical session: Applying job order costing to track costs for a specific project.

Module 3: Cost-Volume-Profit (CVP) Analysis

·       Break-even point calculation

·       Margin of safety

·       Target profit analysis

·       Sensitivity analysis in CVP

·       Multi-product CVP analysis

·       Practical session: Performing a cost-volume-profit analysis for a business scenario.

Module 4: Budgeting and Budgetary Control

·       The budgeting process: master budget and its components

·       Operational budgets vs. financial budgets

·       Flexible budgets vs. static budgets

·       Budgetary control and performance reporting

·       Behavioral aspects of budgeting

·       Practical session: Developing a sales budget and a production budget for a company.

Module 5: Standard Costing and Variance Analysis

·       Setting standard costs: direct materials, direct labor, overhead

·       Calculating direct material variances (price and quantity)

·       Calculating direct labor variances (rate and efficiency)

·       Calculating variable overhead variances (spending and efficiency)

·       Analyzing and interpreting variances

·       Practical session: Calculating and interpreting variances from standard costs.

Module 6: Performance Measurement

·       Responsibility accounting and responsibility centers

·       Financial performance measures: ROI, residual income, EVA

·       Non-financial performance measures: balanced scorecard

·       Transfer pricing

·       Performance evaluation and incentive systems

·       Practical session: Calculating ROI and residual income for different business units.

Module 7: Relevant Costing for Decision Making

·       Identifying relevant costs and revenues

·       Make-or-buy decisions

·       Special order decisions

·       Sell or process further decisions

·       Discontinuing a product or segment

·       Practical session: Analyzing a make-or-buy decision using relevant costing.

Module 8: Pricing Strategies

·       Cost-plus pricing

·       Value-based pricing

·       Competition-based pricing

·       Target costing

·       Price elasticity of demand

·       Practical session: Evaluating different pricing strategies for a new product.

Module 9: Capital Investment Decisions

·       The capital budgeting process revisited

·       Discounted cash flow methods: NPV and IRR

·       Payback period and accounting rate of return

·       Comparing capital budgeting methods

·       Considering risk in capital investment decisions

·       Practical session: Evaluating a capital investment project using NPV and IRR.

Module 10: Activity-Based Costing (ABC) and Strategic Management Accounting

·       Principles of activity-based costing

·       Identifying cost drivers and cost pools

·       Allocating overhead costs using ABC

·       Using ABC for decision making and profitability analysis

·       The role of management accounting in strategic planning

·       Practical session: Applying activity-based costing to allocate overhead costs.

Requirements:

·       Participants should be reasonably proficient in English.

·       Applicants must live up to Armstrong Global Institute admission criteria.

Terms and Conditions

1. Discounts: Organizations sponsoring Four Participants will have the 5th attend Free

2. What is catered for by the Course Fees: Fees cater for all requirements for the training – Learning materials, Lunches, Teas, Snacks and Certification. All participants will additionally cater for their travel and accommodation expenses, visa application, insurance, and other personal expenses.

3. Certificate Awarded: Participants are awarded Certificates of Participation at the end of the training.

4. The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.

5. Approval of Course: Our Programs are NITA Approved. Participating organizations can therefore claim reimbursement on fees paid in accordance with NITA Rules.

Booking for Training

Simply send an email to the Training Officer on training@armstrongglobalinstitute.com and we will send you a registration form. We advise you to book early to avoid missing a seat to this training.

Or call us on +254720272325 / +254725012095 / +254724452588

Payment Options

We provide 3 payment options, choose one for your convenience, and kindly make payments at least 5 days before the Training start date to reserve your seat:

1. Groups of 5 People and Above – Cheque Payments to: Armstrong Global Training & Development Center Limited should be paid in advance, 5 days to the training.

2. Invoice: We can send a bill directly to you or your company.

3. Deposit directly into Bank Account (Account details provided upon request)

Cancellation Policy

1. Payment for all courses includes a registration fee, which is non-refundable, and equals 15% of the total sum of the course fee.

2. Participants may cancel attendance 14 days or more prior to the training commencement date.

3. No refunds will be made 14 days or less before the training commencement date. However, participants who are unable to attend may opt to attend a similar training course at a later date or send a substitute participant provided the participation criteria have been met.

Tailor Made Courses

This training course can also be customized for your institution upon request for a minimum of 5 participants. You can have it conducted at our Training Centre or at a convenient location. For further inquiries, please contact us on Tel: +254720272325 / +254725012095 / +254724452588 or Email training@armstrongglobalinstitute.com

Accommodation and Airport Transfer

Accommodation and Airport Transfer is arranged upon request and at extra cost. For reservations contact the Training Officer on Email: training@armstrongglobalinstitute.com or on Tel: +254720272325 / +254725012095 / +254724452588