Management Accounting - Level 1
Course
In Hammersmith
Description
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Type
Course
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Level
Intermediate
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Location
Hammersmith
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Duration
4 Days
The difference between management accounting and financial accounting.
The difference between fixed and variable costs.
How to calculate variable and fixed costs using the high-low method.
How to use break-even analysis as a decision- making tool.
How to calculate and understand contribution, the break-even point, and margin of safety.
The limitations of break-even analysis.
Why overheads need to be included when costing products.
How to calculate a simple ‘blanket’ overhead rate.
How to apply absorption costing methods to fully cost out a range of products.
The limitations of traditional costing methods.
How to calculate a simply activity-based cost.
Why a business needs to prepare a budget.
The process of preparing a budget.
How to prepare a simple budget.
The problems of budgeting.
The purpose of simple variance analysis.
How various methods of costing can impact on pricing.
How to calculate prices using cost-plus, sales-margin, and discount methods.
How various pricing strategies can be used, including how target and life-cycle costing can affect product pricing.
How to calculate internal transfer prices in a variety of ways.
Facilities
Location
Start date
Start date
About this course
Those who wish to understand the implications of decisions made across a range of management accounting issues.
Those who wish to develop the ability to analyse, interpret, and question the accounting information they may encounter in a business context.
Those who wish to acquire a sound appreciation of accounting and finance in order to communicate and succeed in the business world.
Non-accounting staff who desire a practical introduction to the fundamentals of management accounting.
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The average rating is higher than 3.7
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This centre has featured on Emagister for 5 years
Subjects
- Management
- Budgeting
- Accounting
- Calculus
- Safety Management
- Management Accounting
- Cost Accounting
- Cost analysis
- Costing
- Analysis
Course programme
- Fixed and variable costs
- Contribution
- Break-even analysis
- The margin of safety
- Interpreting break-even analysis
- Assumptions underlying break-even analysis
- Direct and indirect costs
- Absorption costing
- Calculating a blanket rate
- Over and under recovery
- Calculating a department rate to fully cost the product
- Activity-based costing
- The advantages of budgets
- The process of budgeting
- Preparation of a budget
- Problems of budgeting
- Budgets to monitor performance and flexible budgeting
- Variance analysis
- Using cost information to price your product
- Discounts and distribution margins
- Choosing the appropriate costing method
- Pricing and product strategy
- Optimum pricing
- Target costing
- Life-cycle costing
- Transfer pricing
Management Accounting - Level 1