Introduction to Management Accounting Training:
Management accounting training means you can understand about your business accounts. Management accounting training is more looking within to decide how to better the companies features. Management accounting training is a accounting system that it provides information for internal use by management. Management accounting helps in taking right decisions.
Global online trainings provides the best management accounting training by expert trainers. Our trainers are experts in this management accounting online training they have 10+ years experience in this training.
Mode of Training: We provide Online mode of training and also corporate, virtual web training.
Duration Of Program: 30 Hours (Can Be Customized As Per Requirement).
Materials: Yes, we are providing materials for Management Accounting Online Training.
Course Fee: Please Register in Website, So that one of our Agent will assist You.
Trainer Experience: 11 + years.
Overview of Management accounting Online training:
- Management accounting training is mainly introduced for the address informational requirements not met by finanacial accounting.
- Management accounting training main objective is to provide the data to management and enable informed decision making.
- Management accounting training is the process of preparing and providing up to date financial information to the managers of an entity. The information should be assist and support manager in making usual daily results as well as results for the short term in contrast to the financial accounting there is no legal necessities for entity to give the documents related to the management accounting.
- Management accounting training has no standards or formats that are need to follow. We also provide the class room training of Management accounting at client permission in noida ,Bangalore ,Gurgaon, hyderabad ,Mumbai, Delhi and Pune.
- Management accountant provides for the users inside of an entity these contains mainly management, owners, employes.
- Management accounting training provides information that covers the entire entity or just particular product or department called as cost center.
- Where it focus on the future of an entity. Management accounting helps mainly in planning, controlling and analyzing and performance of the organization so they follow the continuous improvement.
- Management accounting utilizes the principles and practices of financial accounting and cost accounting in addition to the other modern techniques for effective operative company
Features of management accounting training:
- Management accounting is derived from the both financial and cost accounting and the main trusters towards determining the policy and preparing the plans to get the desired objective of management.
- Management accounting training makes the corporate planning and policy effective and meaningful and it is concerned short term and long ranging planning and it uses the highly sophisticated techniques like sensitivity analysis, probability analysis. We offer management accounting training at reasonable price
- We have decision tree, ratio analysis all this are needed for the planning, controlling and evolution.
- Management accounting is futuristic in approach and it is predictive in nature and this accounting system we are not able to installed without proper cost accounting system.
- Management accounting system will generate different reports which are very useful from the management point of view.
- Planning and forecasting by providing support for building short term as well long term forecast of sells, profit , financing demand and costs.
- Management accounting is used extensively to monitor the financial performance of an organization. This constant actual performance with the operating plans and the standards. Different in financial performance are interpreted and reported on the continuous bases to the top management.
- Management accounting facilitates better coordination across department there by increasing the efficiency of an organization.
- Management accounting serves in number of another ways in well it supplies useful information to different functional authority and it provides accounting information and advice for the price determination and the pricing decisions. We also provide management accounting training material and it is prepared by professionals.
- Management accounting training helps in making the strategic decisions that decisions respective seasonal, temporary suspicious production, make over decisions, replacement decisions etc.
- One of the most important function of managerial accounting is to support management decision making and responsibilities. Those contains planning, directing and controlling operations.
- Planning involves setting goals and objectives and managerial accounting aides in this function through the budgeting and forecasting primarily.
- Directing is overseeing day to day operations as well as monitoring performance.
- Managerial accounting can assist in this functions through scheduling and other reporting.
- Controlling is another important part of management responsibility and one that is aided by managerial accounting. It is the process comparing actual result with the planned result. Differences between the two are known as variances.
- Managerial accounting mainly involved in this functions. All these functions and responsibilities help and support in the management accounting decision making.
- Decision making is never ending casting in most business because of these management accounting is changing. Changing global economy requires many business to be more flexible and adapt at quicker rates than in the past.
- Without improvements to technology this would be difficult for management accountants to support. ERP, JIT, TQM , learn manufacturing, ISO 9001 all these are management accounting.
- ERP it is information system that links several business functions for improved and timelier decision making. JIT it is inventory management system. Buying and holding inventory is expensive.
- TQM is reducing or eliminating defects in process and product. This lowers the warranty cost as well as waste cost.
- Learn manufacturing is a reconfiguration of production process o elimate the unnecessary activities. ISO 9001 will deals with the quality and continuous improvement. Technological improvements have allowed management accountants to be right in the middle of these improvement.
- Changing technologies are changing then the management accountant skills also changing and expanding.
Difference between Management accounting and financial accounting:
- Management accounting training is emphasis on internal use of the information accounting numbers that your creating. Financial accounting is opposite to the management accounting its mainly for external use.
- Financial accounting information that produce for lenders or bondholders , people are organization to whoms the firm owns money and then also about the shareholders. These financial statement for these groups and also there are another group. Global online trainings is best in providing management accounting training in online mode.
- Shareholders or owners of the firm but they are not managers they are not actually inside the firm for the most part. But we are talking about the external parties when we think about the management accounting its strictly for internal use firms don’t typically report what their managerial accounting practices are and what they numbers are just used by managers internally.
- Management accounting is not required and that makes the sense because we are using it for internal purpose so its really not something that’s mandated if you are thinking about the financial accounting.
- We are thinking about that is required the securities exchange act of 1933 and 1934 B is not optional for a firm put together a balance sheet or an income statement or financial statement.
- To report and you to know the firm has to be in compliance it has to file these reports it has to do financial accounting.
- In Management accounting things like cvp analysis and some other things none of these required so really firm is doing these management accounting because it helps the firm actually be more profitable and it has value.
- Management accounting is kind of consistent with these ideas for internal use and it is not required if it is not follow the GAP.
- Manager of the organization come up with the whatever kind of the managerial accounting numbers they want they just disregards certain types of things and they will not care about the market expensive.
- But in the financial accounting we should follow the GAP its not optional for the firm when they put together their income statement, but in the management accounting you don’t have to follow GAP and coming up with it whatever kind of numbers are useful for the organisation.
Financial accounting is one of the factor in accounting and it is to be learn for management accounting.
Nature of management accounting training:
Nature of management accounting training are the following
- Service function the work of this is to assist the management by giving the needed information which are related to the accounting.
- More concerned with future this is related to the future because decisions are taken by the analyzing accounting information for future.
- Selective in nature in this selective information will be given from the mess data to the management.
- Only supplies data not a decision it will give the data to the management it will not take any decisions.
- Integrated system in this system it will have both the accounting and the management.
Objectives of management accounting training:
The main objective is to provide the selective information to the management. Another objectives of management accounting training is to assist in planning and also in decision making , controlling, coordination and reporting.
Management accounting of value chain:
Value chain is the series of activation that will insert value to a product or service. It contains all the actions from the inception of the product idea through the after sales customer support.
The activities are broadly classified as follow
- Research and development
- Production for manufacture / Purchases for merchandisers
- Customer service
- Research and development are also known as R and D are the cost associated with the researching and developing new products or services and or the process of producing them.
- This is often known as conceptual stage. So costs are associated with this activity are classified.
- Design are in between the R and D and production activities is the process of taking a conceptual design or product created by R & D engineers and trying to find out a way to mass produce it at a price consumer would be willing to pay.
- This is the main step, for that reasons we are not using the hydrogen cars. R and D knows how to build them but design will figure out the way to mass produce them at a price that consumers would be willing to pay.
Production for manufacture / Purchases for merchandisers:
- Production is the activity where the resources are used to produce a product or service intended for sale. Design will create a manufacturing process that laborers can perform then the goods to be mass produced.
- This is the purchase activity for merchandisers where finished merchandise is purchased with the intent to resell. Any cost associated with this activity will be classified here.
Marketing is the promotion and advertising of products and services. The goal of marketing is to create customer demand for products and services, so if any costs are associated with these activity are classified here only.
- Distribution is the process of delivering products to consumers, for few companies this is expensive and large portion of their balance of value chain.
- Wal mart and distributing goods to more than the 11, 000 stores worldwide that is a massive distribution channel. But small law firm will use the post office and have very small distribution cost. So cost associated with these activities are classified here.
- Customer service is the support provided for customers after the sale, this is not confused with the marketing activity someone will confused with these two.
- Customer service is after the sale where the marketing is getting the sale and cost associated with this activity are classified here.
- Management accounting will focus on the production activity of the value chain.
Conclusion of Management accounting training:
Global online Trainings provide best Management Accounting online training by expert trainers. Management accounting training helps in business accounting gives information for internal use by management. We also give information on the financial accounting also. Our trainers explain each and every activities of management accounting training. Taking management accounting training have so many benefits. Average package for management accounting will be 7-8 lakh per annum.