Course Detail(BF093 : Effective Management Accounts)

BF093 : Effective Management Accounts

7.00 CPE Hours (Others)
Classroom

This course is also available as a Live Webinar session. To view the available dates, please click here

Programme Objective
An effective set of management accounts is one which can be used as a tool for decision-making and performance evaluation. Used correctly, management accounts can drive desired behaviors and actions of business units and departments to improve performance.
This programme:

  • Provides insight into the differing types management account structures and how they are used for differing types of decisions
  • Provides an understanding of variance analysis as a tool for promoting accountability and enabling corrective action.

Programme Outline

1.   Differing management account structures & their use

        •         Common features in all formats

        •         Common decisions using management accounts

        •         Traditional format

        •         Contribution format

        •         Brand Result format

        •         Incorporating WACC (Weighted-Average Cost of Capital)

 

2.   Analyzing variances

        •         Relevance of flexing the budget

        •         Interpreting & analyzing variances  

                         o         Sales variances

                         o         Material variances

                         o         Labor variances

                         o         Spending variances

                         o         Capacity variances

        •         Impact of budgeting method

        •         Checklist for variance reports


* Participants are required to bring along their calculator for hands-on exercises.
 

 

Training Methodology

•         Lectures

•         Exercises

•         Case Studies

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

Finance Managers, Accountants and Analysts who need to structure management accounts for users’ effective decision-making and performance evaluation •Business Unit heads and Department heads who wish to understand how management accounts can assist them in decision-making and promotion of accountability

Competency Mapping

Others = 7.00 Hours

Schedule & Fees

Date & Time

29 Jun 2022 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

Chow Chan Kwan

Venue

60 Cecil Street
ISCA House
Singapore 049709

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Chow Chan Kwan
 
Mr Chow has more than 15 years of industrial experience as General Manager of various manufacturing and retail subsidiaries of a multinational company in Singapore and China.
 
He has also delivered accounting and finance lectures to students pursuing the Certificate in Management (CIM) at the Singapore Institute of Management (SIM), and conducted in-house financial training during the initial stage of his career as a statistics and research officer at a Malaysian bank.
 
Chow holds a Master of Business Administration (MBA) degree in Accounting and Finance from Ohio University in the USA.  While pursuing his MBA degree, he delivered accounting lectures to freshmen students, a provision under the university’s Graduate Assistant Scholarship Scheme.
 
Mr Chow is currently a professional trainer and consultant, specialising in Accounting, Finance, Taxation, Strategic and Supply Chain Management.
 
 

This course is also available as a Live Webinar session. To view the available dates, please click here

Programme Objective
An effective set of management accounts is one which can be used as a tool for decision-making and performance evaluation. Used correctly, management accounts can drive desired behaviors and actions of business units and departments to improve performance.
This programme:

  • Provides insight into the differing types management account structures and how they are used for differing types of decisions
  • Provides an understanding of variance analysis as a tool for promoting accountability and enabling corrective action.

Programme Outline

1.   Differing management account structures & their use

        •         Common features in all formats

        •         Common decisions using management accounts

        •         Traditional format

        •         Contribution format

        •         Brand Result format

        •         Incorporating WACC (Weighted-Average Cost of Capital)

 

2.   Analyzing variances

        •         Relevance of flexing the budget

        •         Interpreting & analyzing variances  

                         o         Sales variances

                         o         Material variances

                         o         Labor variances

                         o         Spending variances

                         o         Capacity variances

        •         Impact of budgeting method

        •         Checklist for variance reports


* Participants are required to bring along their calculator for hands-on exercises.
 

 

Training Methodology

•         Lectures

•         Exercises

•         Case Studies

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

Finance Managers, Accountants and Analysts who need to structure management accounts for users’ effective decision-making and performance evaluation •Business Unit heads and Department heads who wish to understand how management accounts can assist them in decision-making and promotion of accountability

Competency Mapping

Others = 7.00 Hours

Programme Facilitator(s)

Chow Chan Kwan
 
Mr Chow has more than 15 years of industrial experience as General Manager of various manufacturing and retail subsidiaries of a multinational company in Singapore and China.
 
He has also delivered accounting and finance lectures to students pursuing the Certificate in Management (CIM) at the Singapore Institute of Management (SIM), and conducted in-house financial training during the initial stage of his career as a statistics and research officer at a Malaysian bank.
 
Chow holds a Master of Business Administration (MBA) degree in Accounting and Finance from Ohio University in the USA.  While pursuing his MBA degree, he delivered accounting lectures to freshmen students, a provision under the university’s Graduate Assistant Scholarship Scheme.
 
Mr Chow is currently a professional trainer and consultant, specialising in Accounting, Finance, Taxation, Strategic and Supply Chain Management.
 
 

Upcoming Schedule

Date & Time

29 Jun 2022 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

Chow Chan Kwan

Venue

60 Cecil Street
ISCA House
Singapore 049709