Certificate Program In Management Accounting
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Brief Introduction
Learn how to analyse financial statements to make the right decisions that will add value to the organisation.Description
Course Introduction:
Knowledge of management accounting helps in designing the most appropriate internal financial information systems. The Management Accounting course explains how you can analyse financial statements to make the right decisions in the day-to-day activities in an organisation, which in turn will help add value to the organisation.
Why Learn Management Accounting?
With the help of financial data, managers make decisions regarding day-to-day activities in the organisation. Management accounting helps in taking the right decisions. It is concerned with providing information to managers, that is, people in an organisation who direct and control its operation. Managerial accounting is manager-oriented and provides the essential data with which the organisations are actually run.
Management accounting is much broader than financial accounting because it includes aspects of managerial economics, industrial engineering, and management science. However, management accounting and financial accounting are part of the total accounting information system. The content of management accounting system is driven by the needs of the financial accounting system. A firm’s profitability is of interest to investors but managers need to know the profitability of individual products. The accounting system should be designed to provide total profits and profits for individual products. Hence, accounting system should be able to supply different information for different purposes.
Join us on this exciting journey as we learn about Management Accounting and how to apply it in organisations.
Learning Plan
You are expected to spend the following effort in completing this course:
Activity Time Spent (hrs.)
Read Learner Handbook 1
Watch videos for all modules 20
Self-Assessment Exercises 5
Total 26
What Next?
This course provided you an overview of the field of Management Accounting. To gain further competency as a Management Accounting professional you would need to gain an understanding of one or more of the following areas:
- Finance for Non-Finance
- Basic Corporate Finance
- Equity Research
- Financial Risk Management
- Private Equity
Management Accounting is a powerful and important field for all organisations. To remain employable and competitive, you need to be frequently taking courses and learning about all the different aspects of Management Accounting and how they are applied across companies.
Requirements
- Requirements
- Prerequisite for this course is knowledge of Financial Accounting. If you do not already have this knowledge, you can do the course on Financial Accounting.
Knowledge
- By the end of this course, you will be able to:
- •Define Management Accounting and its functions
- •Differentiate between Financial Accounting and Management Accounting
- •Explain and describe some techniques of financial statement analysis
- •Describe the relevance of a funds flow statement
- •Prepare a funds flow statement
- •Explain the meaning and purpose of cash flow analysis
- •Explain the process to be followed to prepare a cash flow statement
- •Describe the format of a cash flow statement
- •List the important terms in Costing
- •Describe the assumptions of marginal costing
- •Explain CVP analysis, break-even analysis and margin of safety
- •Apply CVP analysis in managerial decision-making
- •Define budgets and budgetary control
- •Explain the importance of variance analysis
- •Describe material and labour costs
Manipal Global
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