Training Course on Understanding and Applying Management Accounting Techniques & Principles

Course Outline

Module 1: Introduction to Management Accounting and Cost Concepts

ü  Defining Management Accounting vs. Financial Accounting

ü  The Role and Importance of Management Accountants in an Organization

ü  Fundamental Cost Concepts: Direct, Indirect, Product, Period Costs

ü  Cost Classification for Different Purposes (Decision Making, Control)

ü  Practical Session: Case study on identifying and classifying costs in various business scenarios.

Module 2: Cost Behavior Analysis and Estimation

ü  Understanding Fixed, Variable, and Mixed Costs

ü  Methods for Estimating Cost Functions (High-Low, Scattergraph, Regression Analysis)

ü  The Relevant Range Concept

ü  Contribution Margin Analysis

ü  Practical Session: Exercise using sample data to separate mixed costs and analyze cost behavior patterns.

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

ü  Understanding CVP Assumptions and Components

ü  Calculating Break-Even Point (Units and Sales Value)

ü  Target Profit Analysis and Margin of Safety

ü  Operating Leverage and its Implications

ü  Practical Session: Using spreadsheet software to perform CVP analysis for sensitivity and scenario planning.

Module 4: Budgeting and Budgetary Control

ü  The Role of Budgets in Planning and Control

ü  Types of Budgets: Master Budget, Operating Budgets, Financial Budgets

ü  Static vs. Flexible Budgets

ü  Budgetary Control Process and Reporting

ü  Practical Session: Workshop on developing a departmental operating budget (e.g., Sales, Production).

Module 5: Standard Costing and Variance Analysis

ü  Setting Standards for Materials, Labor, and Overhead

ü  Calculating Direct Material Variances (Price, Quantity)

ü  Calculating Direct Labor Variances (Rate, Efficiency)

ü  Calculating Manufacturing Overhead Variances (Variable and Fixed)

ü  Practical Session: Analyzing and interpreting variances to identify performance issues and corrective actions.

Module 6: Activity-Based Costing (ABC) and Management

ü  Limitations of Traditional Cost Allocation Methods

ü  Principles of Activity-Based Costing: Cost Pools and Cost Drivers

ü  Designing and Implementing an ABC System

ü  Activity-Based Management (ABM) for Process Improvement

ü  Practical Session: Case study applying ABC principles to allocate overhead costs more accurately.

Module 7: Short-Term Decision Making Using Relevant Costing

ü  The Concept of Relevant Costs and Benefits

ü  Make-or-Buy Decisions

ü  Accepting or Rejecting Special Orders

ü  Product Mix Decisions with Constraints

ü  Practical Session: Analyzing business scenarios to make optimal short-term decisions based on relevant cost analysis.

Module 8: Performance Measurement and Evaluation

ü  Financial Performance Measures: ROI, Residual Income (RI), EVA

ü  Non-Financial Performance Measures

ü  Introduction to the Balanced Scorecard Framework

ü  Designing Effective Performance Reports

ü  Practical Session: Group exercise on developing a simple Balanced Scorecard for a hypothetical company division.

Module 9: Transfer Pricing

ü  Purpose and Objectives of Transfer Pricing

ü  Methods of Setting Transfer Prices (Market-based, Cost-based, Negotiated)

ü  Impact of Transfer Pricing on Divisional Performance and Motivation

ü  International Transfer Pricing Considerations (Overview)

ü  Practical Session: Case study analyzing different transfer pricing methods and their consequences.

Module 10: Strategic Management Accounting

ü  Integrating Management Accounting with Business Strategy

ü  Value Chain Analysis

ü  Target Costing and Kaizen Costing

ü  Life Cycle Costing

ü  Practical Session: Workshop applying strategic management accounting tools (e.g., Value Chain Analysis) to a business case.

About Our Trainers

Our trainers are highly experienced professionals with extensive backgrounds in management accounting, finance, and business management. They possess practical industry experience combined with proven training capabilities, ensuring a relevant, engaging, and effective learning experience.

Quality Statement

We are committed to providing high-quality training programs. Our course content is regularly updated to reflect current best practices and industry trends. We utilize a variety of teaching methodologies to cater to different learning styles and ensure maximum knowledge transfer and skill development.

Admission Criteria

ü  Participants should be reasonably proficient in English. 

ü  Applicants must live up to Phoenix Center for Policy, Research and Training 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@phoenixtrainingcenter.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 / +254737296202

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: Phoenix Center for Policy, Research and Training 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 / +254737296202 or Email training@phoenixtrainingcenter.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@phoenixtrainingcenter.com or on Tel: +254720272325 / +254737296202