Analyzing Cost Data for Management

Course Description:

Analyzing Cost Data for Management covers the managerial use of accounting, financial, and operating data for planning, control, and decision making. The course is designed for managers and entrepreneurs who need hand-on knowledge and tools in processing, developing, and analyzing financial, cost, and business data for managerial use. Topics include strategic cost management, analysis of costs; break-even and contribution analysis; cost behavior analysis; activity-based costing (ABC); responsibility accounting and corporate balanced scorecard (CBC); budget for profit planning; short-term decisions; capital budgeting.

Learning Objectives:

Upon successful completion of this course, participants will be able to:

• State what management accounting is all about
• Distinguish between management accounting and its related fields such as cost accounting and financial accounting
• Describe the three broad purposes for which the manager needs cost information
• Identify the role of the controller, the treasurer, and the Chief Financial Officer (CFO)
• Explain the role of the Cost Accounting Standards Board (CASB)
• Identify some new developments that look place in the cost/management accounting discipline over the last two decades
• List three popular certificates that recognize the expertise in the fields of cost/managerial accounting and internal auditing.