Managerial AManagerial Accounting for Non-Financial Professionals: Information for Planning, Decision Making and Control

Introduction :

"Managerial Accounting for Non-Financial Professionals" is designed to provide essential accounting knowledge and skills to individuals who do not have a financial background. This course focuses on how managerial accounting information can be used for effective planning, decision-making, and control within organizations. Participants will learn to interpret financial data, understand cost behavior, and utilize budgeting techniques, enabling them to contribute more effectively to their organizations’ financial decision-making processes.

Target Audience :

• Non-financial managers and professionals seeking to understand managerial accounting principles.
• Team leaders and project managers who need to make informed financial decisions.
• Employees in operational roles who wish to enhance their understanding of financial information.
• Business professionals aiming to improve their budgeting, planning, and strategic decision-making skills.

Course Objectives :

• Understand the basic concepts and principles of managerial accounting.
• Analyze financial statements and relevant financial data to support decision-making.
• Use budgeting and forecasting techniques to plan for the future.
• Apply cost analysis methods to evaluate financial performance.
• Communicate financial information effectively to team members and stakeholders.

Course Modules :

Introduction to Managerial Accounting

• Understanding the Role of Managerial Accounting
• Differences Between Managerial and Financial Accounting
• Overview of Key Terminologies and Concepts

Financial Statements Overview

• Components of Financial Statements
• Income Statement
• Balance Sheet
• Cash Flow Statement
• Interpreting Financial Statements for Decision-Making

Cost Concepts and Classifications

• Types of Costs: Fixed, Variable, and Semi-Variable
• Direct vs. Indirect Costs
• Understanding Cost Behavior Patterns

Cost-Volume-Profit Analysis

• Analyzing Break-Even Point
• Contribution Margin Approach
• Applications of CVP Analysis in Business Decision-Making

Budgeting Basics

• Purpose and Importance of Budgeting
• Types of Budgets: Operating Budget, Capital Budget, Cash Budget
• Budget Preparation Process and Techniques

Variance Analysis

• Understanding Budget vs. Actual Performance
• Analyzing Variances: Types and Importance
• Making Informed Decisions Based on Variance Analysis

Performance Measurement

• Key Performance Indicators (KPIs) for Business Evaluation
• Using Financial Metrics to Assess Performance
• Balanced Scorecard Approach

Decision-Making Tools

• Relevant Costs and Benefits for Decision-Making
• Short-Term Decision-Making Techniques: Make or Buy, Special Orders
• Evaluating Investment Decisions: Payback Period, Net Present Value (NPV)