11.1 Management Accountant Job Functions
2821. Payback period method
2Financial analysis:
2832. Net Present value
3Budget preparation:
2843. Accounting Rate of Return
4Financial management:
2854. Internal Rate of Return (IRR)
5Auditing:
2865. Profitability Index
6Management consultation:
2878.14 Buy Vs. Lease Analysis
71.2 Management Accounting Certification|Certified Management Accountant
288Key Takeaways
81.3 Educational Requirements
289Present Value
91.4 Key Takeaways
290Cost of Capital
101.5 Types of Managerial Accounting
291Payback Analysis
11Product Costing and Valuation
292Throughput Analysis
12Cash Flow Analysis
2938.16 Strategic Planning
13Inventory Turnover Analysis
294The 4 Steps of Strategic Planning Process
14Constraint Analysis
295Types Of Planning:
151.6 Financial Leverage Metrics
296Stages in the Planning Cycle
161.7 Accounts Receivable (AR) Management
297The Four Critical Factors to Planning a Successful Project
171.9 Budgeting, Trend Analysis, and Forecasting
2988.17 Strategic Management Advice
181.10 Scope Of Accounting Management
299Typical strategic management accounting techniques
191. Financial Accounting:
300The purpose of strategic management accounting
202. Cost Accounting:
301The strategic management process
213. Budgeting and Forecasting:
302Strategic decision making
224. Revaluation Accounting:
303Typical strategic management accounting techniques
235. Cost Control Procedures:
304• Activity-based costing
246. Statistical Methods:
305• Benchmarking
257. Inventory Control:
306• Costing
268. Reporting:
307• Budgeting
279. Taxation:
308• Competitive position monitoring
2810. Methods and Procedures Design and Installation:
309• Customer profitability analysis
2911. Internal Audit:
3108.18 Internal Financial Presentation And Communication: Show Investors How the Business is Doing
3012. Office Services:
3118.19 Sales Forecasting
3113. Financial Management:
312Sales Forecasting Methods
3214. Interpretation:
313Sales Forecasting Methods
331.11 Summary
314• Length of Sales Cycle Forecasting
341.12 Exercise: References
315Pros:
352.1 Practice
316Cons:
362.2 9 Ways To Consider The Practicing Of Account Management
317• Lead-driven Forecasting
371. Determine your accounting method
318Pros:
382. Track all expenses
319Cons:
393. Maintain accurate records
320Opportunity Stage Forecasting
404. Keep business finances separate
321Pros:
415. Perform monthly accounting reviews
322Cons:
426. Limit accounts receivable.
323Intuitive Forecasting
437. Automate when possible
324Pros:
448. Backup financial records
325Cons:
459. Consider hiring professional help
326Test-Market Analysis Forecasting
462.3 The Association of International Certified Professional Accountants (AICPA)
327Pros:
472.4 Key Takeaways
328Cons:
48Cash Accounting
329Historical Forecasting
49Accrual Accounting
330Pros:
50Accounting Principles
331Cons:
51The Revenue Recognition Principle
332Multivariable Analysis Forecasting
52Historical Cost Principle
333Pros:
53Matching Principle
334Cons:
54Full Disclosure Principle
3358.20 Financial Forecasting
55Objectivity Principle
336What makes financial Forecasting important?
562.5 The practice areas
337Types of Financial Forecasting
572.6 Applications On Accounting Management: Applied to service industry accounting practices:
338• Quantitative forecasts
582.7 Task 1: Demonstration of understanding of management accounting system
339Pro-forma financial statements
592.8 Explanation of management accounting
340Time series analysis
602.9 Different types of Management Accounting and its requirements
341Cause-effect method
612.10 Different forms of Management accounting reports
342• Qualitative forecasts
62Job cost reports:
343Expert opinions and visions
63Accounts receivable aging:
344Reference forecasts
64Inventory and manufacturing reports:
345Delphi method
65Budgets:
346Consumer research
66Performance reports:
347Scenario forecasts
672.11 Task 2: Explanation of planning tools used in management accounting
348What is financial success?
682.12 Advantage of difsferent types of planning tools
349• Profitability
692.13 Disadvantages of different types of planning tools
350• Cash flow
702.14 Task 4: Comparison of ways that management accounting of an organization use to respond the financial problems
351• Net value
712.15 Summary
352Three basic components of Financial Forecasting
722.16 Exercise
353What financial prognoses should I make?
73References: Figure Source
354• Sales Prognosis
743.1 The differences between financial and managerial accounting
355• Cost forecast (budget)
753.2 What is managerial accounting?
356• Cash flow statement prognosis
763.3 What is financial accounting?
357• Income statement prognosis
771. Looking forward vs. looking back
358Assets and liabilities
782. Reporting focus is different
359Are forecasts reliable?
793. Estimates vs. facts
360Extrapolating past trends
804. Legal requirements
361Striving for precision
815. Tools
3628.20 Annual Budgeting
823.4 Key Takeaways
363Key Takeaways
83Main Objectives of Both Accounting Practices
364Understanding Annual Budget
84Past and Present Use
365How To Calculate The Budget?
85Regulation and Uniformity
366Tips:
86Reporting Details
367Basics Elements of a Good Budget
87The Bottom Line
3688.21 Cost Allocation
883.5 How managerial and financial accounting are similar
369Example of Cost Allocation
89Management Accountant Role 1. Stewardship Accounting:
370Cost Allocation Methods
90Management Accountant Role 2. Long-term and Short-Term Planning:
371Cost Allocation and Taxes
91Management Accountant Role 3. Developing Management Information System (MIS):
372Cost Allocation Methodology
92Management Accountant Role 4. Maintaining Optimum Capital Structure:
373Process for Performing Cost Allocations
93Management Accountant Role 5. Participating in Management Process:
374A. Types of Departments
94Management Accountant Role 6. Control:
375B. Types of Drivers
95Management Accountant Role 7. Decision-Making:
376C. Objectives of Assigning Support Department Costs: Assigning Department Costs To Producing Departments
963.7 Summary
377A. A Single Charging Rate
973.8 Exercise: References
378B. Multiple Charging Rates
984.1 Introduction
3798.22 Summary
994.2. Problem statement Management accounting
3808.23 Exercise
1004.3 Research Questions
381References: Figure Resources
1014.4 Objectives of the study
3829.1 Major Facts
1024.5 Significance of the study
3839.2 Understanding What Management Accountants Do
1034.6 Literature Review : 4.6.1 Costing Practices
3849.3 Skill Set
1044.7 Problems On Traditional Accounting Management
3859.4 Formal Education
105Traditional Accounting Practices
3869.5 Professional Designations
106Changing Business Environment
3879.6 Career Ladder
107Accounting Measurement Problems
3889.7 An Example of Managerial Accounting
108Changing Accounting Practices
3899.8 Types of Accountants Make the Most Money
1094.8 Summary
3909.9 The Five Major Types of Accounting
1104.9 Exercise
3919.10 Management Accounting is a Good Career
111References: Figure Resource
3929.11 Types Of Costs
1125.1 The Role of Accounting
3931. Direct costs
1135.2 Internal Management Accounting
3942. Indirect costs
114Debt Investments: Equity Investments
3953. Overhead costs
1155.3 Accounting Data for Decision-Making
3969.12 Cost allocation Examples
1165.4 Accounting for Government Regulations
397Cost allocation example 1: Cost allocation example 2
1175.5 Accounting for Planning
3989.13 CIMA And ICMA: And ICAI stands for The Institutes of Chatted Accountants
118Using Accounting Data for Budgeting: Cost Accounting for Products
3999.14 CMA
1195.6 Ratio Analysis Based on Financial Data
4009.15 CIPFA Model: The Financial Management Model Updated
1205.7 What-If Strategies
4019.16 ACCA
1215.8 Financial Accounting for External Users
402Management accountants are capable and competent in:
1225.9 Project Planning
403Management accounting involves:
123Public Responsibility: Shareholder Responsibility
404Entry and progression
1245.10 Income Management
405Exam options
125Internal Audits
4069.17 CA
126External Audits
407Key Takeaways
127Publicly Held Companies
408Understanding a Chartered Accountant (CA)
128Privately Held Companies
409Chartered Accountants (CAs) vs. CPAs
1295.11 Differences in Accounting and Financial Reporting
410Understanding What Management Accountants Do
1305.12 GAAP
411Skill Set
1315.14 Management Accounting
412Formal Education
1325.15 Financial Accounting
4139.18 CGMA
1335.16 Summary
4149.19 Summary
134Fields of Accounting
4159.20 Exercise
135Who Uses Financial Accounting Information?
416References: Figure Resources
136Owners and Managers
41710.1 Introduction: How Managerial Accounting Works
137Investors and Creditors
41810.2 Managerial Accounting vs. Financial Accounting
138Other Users
41910.3 Key Takeaways
1395.19 Exercise
42010.4 Types of Managerial Accounting
140References: Figure Resource
421• Product Costing and Valuation
1416.1 Introduction
422• Cash Flow Analysis
1426.2 Activity-based costing and management: But exactly how would activity-based costing help us cut production costs?
423• Inventory Turnover Analysis
1436.3 Key points about activity-based costing
424• Constraint Analysis
1446.4 Key Takeaways: The ABC calculation is as follows:
425• Financial Leverage Metrics
1456.5 Example
426• Accounts Receivable (AR) Management
146Requirements for Activity-Based Costing (ABC): Benefits of Activity-Based Costing (ABC)
42710.5 Budgeting, Trend Analysis, and Forecasting
1476.6 Grenzplankostenrechnung: GPK distinguishes two types of cost centers:
42810.6 Techniques
1486.7 Lean accounting
429Management Accounting: Technique 1. Financial Planning:
149Continuous improvement by
430Management Accounting: Technique 2. Analysis of Financial Statements:
1501. Value stream-oriented thinking
431Management Accounting: Technique 3. Historical Cost Accounting:
1512. More transparent, on-demand reporting
432Management Accounting: Technique 4. Standard Costing:
1523. Delivering what the customers value
433Management Accounting: Technique 5. Budgetary Control:
153Example
434Management Accounting: Technique 6. Marginal Costing:
154Process execution before accounting
435Management Accounting: Technique 7. Funds Flow Statement:
1556.8 Resource Accounting Management: How to Use RCA?
436Management Accounting: Technique 8. Cash Flow Statement:
1566.9 The Three Pillars of RCA
437Management Accounting: Technique 9. Decision Making:
1576.10 Capacity Management: Activity-Based Resource Planning
438Management Accounting: Technique 10. Revaluation Accounting:
1586.11 Throughput Accounting: The concepts of Throughput Accounting
439Management Accounting: Technique 11. Statistical and Graphical Techniques:
1596.11 Transfer Picking
440Management Accounting: Technique 12. Communicating:
160Getting to the Transaction: Basic Information
44110.7 Summary
1616.12 Completing the Transaction
442Cost Reports
1626.13 Summary
443Budgets
1636.14 Exercise
444Execution Reports
164References: Figurte Resource
44510.8 Exercise: References
1657.1 introduction
44611.1 Introduction: There are multiple ways to deal with risk, including the following:
1667.2 Purpose
44711.2 Understanding Management Risk
1677.3 What Is RAB
44811.3 Company Management Risk
1687.5 What Is Resource Accounting and Who Determines the Standards:
44911.4 Fund Management Fiduciary Responsibilities
1697.6 Background: As stated in the International Good Practice Guidance,
45011.5 Fraudulent Activities
1707.7 Concepts of Resource Consumption Accounting
45111.6 Accounting Representation of Risk
1717.8 The Core Elements of RCA
45211.7 Summary: Representation of risk
1727.9 Continue Reading
45311.8 Exercise: References
1731. Helping Forecast The Future
45412.1 Introduction
1742. Helping In Make-Or-Buy Decisions
45512.2 Example: Account Management and Strategy Best Practices
1753. Forecasting Cash Flows
45612.3 Strategic Account Management Best Practices
1764. Helping Understand Performance Variances
457Best Practice1: Know When to Designate a Client as a Strategic Account
1775. Analyzing The Rate Of Return
458Best Practice 2: Select Your Strategic Account Manager (SAM) Carefully
1787.10 Exercise: References
459Best Practice 3: Know the Players inside the Strategic Account
1798.1 Introduction
460Best Practice 4: Build Dependency
1808.2 The main functions of management accounting
461Best Practice 5: Provide Insight to Create Value for the Client’s Business
1818.3 Key Takeaways: Example:
462Best Practice 6: Validate the Plan
1828.4 Bussiness Metrics Development
46312.4 Steps
1831. Financial Metrics
464Step 1: List the population of key accounts which you intend to include in the key account management matrix
1842. Non-Financial Performance Measures
465Step 2: Define key account attractiveness
185Metrics and Scorecards
466Step 3: Allocate weights to each of the attractiveness criteria, as shown in the example below.
186Criticism of Business Metrics
467Example:
187Key Takeaways
468Step 4: Define the parameters for size, growth, profit potential, and ‘soft factors’
1888.5 Price Modelling
469Step 5: Score each key account
189Absorption Pricing
470Step 6: Define business strength/position
190Breakeven Pricing
47112.5 Exercise: References
191Cost Plus Pricing
47213.1 Introduction
192Dynamic Pricing
47313.2 What an event manager does
193Freemium Pricing
47413.3 What an event management company does: Some of the areas an event management company might manage to include:
194High-Low Pricing
47513.4 What an event management proposal might look like
195Limit Pricing
47613.5 An example of an event management proposal
196Loss Leader Pricing
47713.6 Event Planning Skills
197Marginal Cost Pricing
478• Organizational Skills
198Penetration Pricing
479• Communication
199Premium Pricing
480• Networking Savvy
200Price Leadership
481• A Basic Understanding of Events
201Price Skimming
482• Client-first Approach
202Psychological Pricing
483• Problem-solving
203Time and Materials Pricing
484• Negotiation and Budgeting
204Value-Based Pricing
485• Multitasking
205Examples Of Price Modelling
486Creativity
2068.6 Product Profitability
487• Leadership
207Advantages
488• Passion for Planning
208Geographic Vs. Industry Or Client Segment Reporting
489• Tech Savvy
209Example
49013.7 Top 10 skills needed for successful event management
210Objective
4911. People skills
211Scope
4922. Flexibility
212Factors that should be considered in determining whether products or services are related include:
4933. Listening
213Factors that should be considered in identifying geographical segments include:
4944. Organised
214Segment revenue is the aggregate of:
4955. Passion
215Segment revenue does not include:
4966. Communication
216Segment expense is the aggregate of:
4977. Calm under pressure
217Segment expense does not include:
4988. Problem-solving
218Primary and Secondary Segment Reporting Formats
4999. Decisive
219Business and Geographical Segments
50010. Experience
220Reportable Segments
50113.8 Summary
221Segment Accounting Policies
50213.9 Exercise: References
222Disclosure
50314.2 Types of Managerial Accounting
223Primary Reporting Format
50414.3 The different areas of accounting and what they entail
224Secondary Segment Information
5051. Financial accounting
225Illustrative Segment Disclosures
5062. Management accounting
226Other Disclosures
5073. Governmental accounting
2278.7 Sales Management Score Cards
5084. Public accounting
2281. Sales Volume by Location
5095. Cost accounting
2292. Competitor Pricing
5106. Forensic accounting
2303. Existing Client Engagement
5117. Tax accounting
2314. Employee Satisfaction
5128. Auditing
2325. Upsell and Cross-Sell Rates
51314.4 Summary
2336. Sales Cycle Length
514Transactions within the Firm
2347. Close Ratio
515Entity Split Up into Accounts
2358.8 Cost Analysis
516Types of Accounts
236Objectives
51714.5 Exercise: References
237Importance Of Cost Accounting
51815.1 Introduction
238Advantages
51915.2 Accounting Tools
239Scope Of Cost Accounting
520You’ll be able to:
240Classification Of Costs
521Fresh-books – cloud-based accounting software
2418.9 Cost-Benefit Analysis
522Sage Accounting – accounting and business management software
242Key Takeaways
523Turbo CASH – open-source accounting app
243The Cost-Benefit Analysis Process
524K-My Money – personal finance manager.
244The costs involved in a CBA might include the following:
525Account Edge Pro – desktop accounting software
245Benefits might include the following:
526Gnu Cash – personal and small business accounting software
246Limitations of Cost-Benefit Analysis
52715.3 Basic accounting software
247The major steps in a cost-benefit analysis
5281. Accounting software
2488.10 Life Cycle Cost Analysis
5292. Invoicing software
249Life cycle costing process
5303. Business credit card
250Life cycle costing process for intangible assets
5314. Business bank account
251Life cycle costing assessment example
5325. Financial calendar
252Purpose of the life cycle cost analysis
5336. Accountant
2531. Choose between two or more assets
53415.4 Summary
2542. Determine the asset’s benefits
535Corporate Accounting
2553. Create accurate budgets
536Public Accounting
2568.11 Client Profitability Analysis
537Forensic Accounting
257CPA allows businesses to take the following key strategic decisions:
53815.5 Exercise
258Revenue associated with the customer
539References
259Costs associated with the customer
540A
260CPA results: Customer profitability check
541B
261Customer Classification Matrix (cost to serve/revenue)
542C
262Limitations / implementation barriers
543D
263Overcoming limitations
544E
2648.12 IT Cost Transparency
545F
265Elements of IT Cost Transparency
546G
266• IT Asset Baseline
547H
267• Business System Correlation
548I
268• Business Intelligence
549J
269Benefits of IT Cost Transparency
550K
2708.13 Capital Budgeting
551L
271What are the objectives of Capital budgeting?
552M
2721. Selecting profitable projects
553N
2732. Capital expenditure control
554O
2743. Finding the right sources for funds
555P
275Capital Budgeting Process
556Q
2761. Identifying investment opportunities
557R
2772. Evaluating investment proposals
558S
2783. Choosing a profitable investment
559T
2794. Capital Budgeting and Apportionment
560U
2805. Performance Review
561V
281Capital Budgeting Techniques
