Management Accounting
About Management Accounting
Management
accounting focuses on all accounting aimed at informing management
about operational business metrics. It uses information relating to the costs of products or services purchased by the company. Budgets are
often used to quantify the decisions made in operational planning.
Management accountants use performance reports to note variances between
actual results from budgets.
Why is Management Accounting important?
Management Accounting provides various benefits as
•
Planning - In management accounting, the financial information and
non-financial information are presented at regular intervals say weekly,
fortnightly to the management. This presentation includes forecasts,
budgets, and in-depth analysis. Hence it assists the management in
planning the business activities.
• Decision making - Since
management accounting presents various charts, forecasts, and analyses
the management uses it for decision making.
• Identify early signs
of problems - If a product is not performing well the management can
identify it early on as the accounts are presented at regular intervals.
This will aid in overcoming the constraints early on and avoiding
future losses.
Who should take the Management Accounting Exam?
• Finance and accounting professionals
• Innovators
• Anyone who wants to assess their skills
• Managers and senior executives
• Accounting consultants
• Any professional engaged in the operational management of the company
Management Accounting Certification Course Outline
1. Introduction to Management Accounting
2. Standard Costing
3. Budget, Budgeting and Budgetary Control
4. Performance Measurement
5. Control Management
6. Performance, Schedule and Cost of Projects
7. Earned Value Management