Postgraduate Diploma Programme Number 115 - Cost Accounting, Budgeting, Profitability Analysis, Strategy and Balanced Scorecard, Intensive Full-Time {3 Months (5 Days -30 Hours) per Week} Postgraduate Programme, Leading to Postgraduate Diploma in Cost Accounting, Budgeting, Profitability Analysis and Balanced Scorecard. Contents include: The Internal Accountant’s Role in an Organisation,; Cost Terms and Purposes;  Accounting Discipline Overview; Financial vs. Managerial Accounting;

 

Strategy and Management Accounting; Management Accounting and Value; The Value Chain Illustrated; A Value Change Implementation. Key Success Factors; Planning and Control System; A Five-Step Decision Making Process in Planning and Control; Management Accounting Outlines; A Typical Organisational Structure and the Management Accountant; Professional Ethics; Cost Terms and Purposes; Basic Cost Terminology; Cost Objects Example at BMW; Direct and Indirect Cost; BMW: Assigning Costs to a Cost Object; Cost Examples; Factors Affecting Direct/Indirect Cost Classification; Cost Behaviour; Cost Behaviour Summarised; Cost Behaviour Visualised; Other Cost Concepts; Relevant Range Visualised; A Cost Caveat;

 

Multiple Classifications of Costs; Different Types of Firms; Types of Manufacturing Inventories; Types of Product Cost; Accounting vs. Cost; Cost Flows; Cost Flows Visualized; Multiple - Step Income Statement; Cost of Goods Manufactured; Other Cost Considerations; Different Definitions of Costs for Different Applications; The Common Features of Cost Accounting and Cost Management; Cost-Volume-Profit (CVP) Analysis and Job Costing; Cost-Volume-Profit (CVP) Analysis;  A Five-Step Decision-Making Process in Planning and Control Revisited;

 

Foundational Assumptions in CVP; Basic Formulae; CVP: Contribution Margin; Cost–Volume–Profit Equation; Breakeven Point; Breakeven Point, extended:  Profit Planning; Cost Volume Profit (CVP); Profit Planning, Illustrated; CVP and Income Taxes; Sensitivity Analysis; Margin of Safety; Operating Leverage; Effects of Sales-Mix on CVP; Alternative Income Statement Formats; Job Costing; Costing Terminology; Costing Systems; Costing Systems Illustrated; Costing Approaches; Seven-Step Job Costing; Sample Job Cost Document; Sample Job Cost Source Documents; Job Costing Overview; Journal Entries; Flow of Costs Illustrated; Illustrated General Ledger in a Job Cost Environment; Accounting for Overhead.

Postgraduate Diploma Programme Number 115 - Cost Accounting, Budgeting, Profitability Analysis, Strategy and Balanced Scorecard, Intensive Full-Time {3 Months (5 Days -30 Hours) per Week}  Postgraduate Programme, Leading to Postgraduate Diploma in Cost Accounting, Budgeting, Profitability Analysis and Balanced Scorecard. Click to download the brochure for this Postgraduate Diploma Programme.

Programme Co-ordinator:        

For Whom This Programme is Designed

This Programme is Designed For:

        Balanced Scorecard Specialists;

Budget Specialists;

Business Consultants;

Certified Accountants;

Chartered Accountants;

Cost Accountants;

Department Heads;

Corporate Directors;

Entrepreneurs who want to learn about human resource management

Executive and Management Development Directors

Experienced managers who are new to the HR field

Human Resource Managers

Human Resource Professionals

Human Resource Professionals

Internal Corporate Consultant

Inventory Managers;

Licensed Accountants;

Cost Accountants;

Line Managers and Design Teams

Management Accountants;

Managers who need current, specialized knowledge

MBA Students

Operational Directors;

Organisational Change Agents

Organisational Decision-makers;

Organisational Development (OD) Professionals and Practitioners

Mid-level managers pursuing a career change or promotion

Performance Consultants

Pricing Specialists;

Product Managers;

Profit Centre Managers;

Quality Managers;

Senior Managers;

Small business owners who do not have in-house professional Human Resource Management expertise

Strategic Managers;

Supervisors;

Training and Development Specialists;

All others with a genuine interest in Cost Accounting, Budgeting, Profitability Analysis, Strategy and Balanced Scorecard.

Duration:

Intensive Full-Time {3 Months (5 Days or 30 credit Hours Per Week)}

Cost:                        

£45,000.00 Per Delegate 

The programme cost does not include living accommodation. However, students and delegates In-Venues deliveries are treated to the following:

Free Continuous snacks throughout the Event Days;  

Free Hot Lunch on Event Days;                           

Free City Tour;             

Free Stationery;                               

Free On-site Internet Access;

HRODC Postgraduate Training Institute’s   Diploma – Postgraduate; or

Certificate of Attendance and Participation – if unsuccessful on resit.

Students and Delegates are treated to a Selection of Complimentary Products, which include:

    HRODC Postgraduate Training Institute’s Leather Conference Folder;

HRODC Postgraduate Training Institute’s Leather Conference Ring Binder/ Writing Pad;

HRODC Postgraduate Training Institute’s Key Ring/ Chain;

HRODC Postgraduate Training Institute’s Leather Conference (Computer – Phone) Bag – Black or Brown;

HRODC Postgraduate Training Institute’s 8-16 GB USB Flash Memory Drive, with Course/ Programme Material;

HRODC Postgraduate Training Institute’s Metal Pen;

HRODC Postgraduate Training Institute’s Polo Shirt.

Location:  Central London and International Locations

Postgraduate Diploma Programme Number 115 - Cost Accounting, Budgeting, Profitability Analysis, Strategy and Balanced Scorecard, Intensive Full-Time {3 Months (5 Days -30 Hours) per Week}  Postgraduate Programme, Leading to Postgraduate Diploma in Cost Accounting, Budgeting, Profitability Analysis and Balanced Scorecard. Click to download the brochure for this Postgraduate Diploma Programme.

Programme Objectives

By the conclusion of the specified learning and development activities, delegates will be able to:

       Appropriately define organisational structure;

       Ascertain the importance of considering counterparty risk in evaluating contracts;

       Be aware of the relationship between organisational structure and leader and organisational flexibility

       Be knowledgeable about mean and statistical mean;

        Calculate risk in financial exposure;

       Calculate statistics from actual data;

       Cite some risk within the financial institutions;

       Cite some strategies to manage transaction exposure;

       Conduct a risk assessment;

       Define derivatives;

       Define the bases of the ‘employer-employee relationship;’

       Demonstrate an awareness of the fundamental issues associated with Organisational Design and their implications for effective organisational functioning;

       Demonstrate an understanding of the legal bases of ‘reverse engineering’ and the extent to which it might be a copyright infringement;

       Demonstrate their ability to encourage the type of superior-subordinate relationship which will be conducive to organisational success

       Demonstrate their knowledge of how to manage equity risk;

       Describe asset behaviour and pricing implication;

       Describe financial risk in the organisational setting;

       Describe the legal and political risk environment;

       Design an organisation adhering to the principles of horizontal and vertical relationship;

       Determine an investor’s reason for investing in a derivative security;

       Determine how corporate strategy leads to effective risk management;

       Determine how credit risks are calculated;

       Determine how to manage currency risk;

       Determine the legal bases of industrial espionage as theft and ‘Grand Larceny’.

       Determine the purpose, components and parameters of the UK employment law;

       Determine the situation in which liquidity risk arises;

       Determine why settlement risk has been historically a particular problem in the foreign exchange markets;

       Discuss about sensitivity analysis as risk management;

       Discuss the co-ordinating mechanism in a simple structure;

       Discuss, with an enhanced understanding, of the relationship between Management Accounting and Value Added;

       Distinguish between different organisational structures;

       Distinguish between Financial, Cost and Managerial Accounting;

       Distinguish between organismic and mechanistic structures;

       Distinguish between the basic types of structure;

       Distinguish between the different types of matrix structures;

       Enumerate some sources of operating risk;

       Enumerate the different kinds of banking risk and explain each;

       Establish the link between financial risk and the market dynamics;

       Establish the link between risk and equity market;

       Establish the premise by which the Margin of Safety might be established;

       Establish the primary role of technology in risk management;

       Establish the relationship between Corporate Strategy and Management Accounting;

       Exhibit an understanding of the value of employees as their organisations’ Intellectual Property;

       Explain how an organisation might protect its intellectual property;

       Explain the approaches to organisational design;

       Explain the steps that will be able to take to avert, reduce and detect industrial sabotage;

       Explain the steps that will be able to take to avert, reduce and detect industrial espionage;

       Explain the underlying principle of financial risk management;

       Explain, using practical examples, the Effects of Sales-Mix on CVP;

       Formulate an organisational policy that protects its intellectual capital, whilst allowing ‘Intellectual Property Rights Law’ to remain un-infringed;

       Give the general definition of risk;

       Identify an organisational structure from verbal description;

       Identify horizontal relationships in organisational design;

       Identify some financial methods of measuring risk;

       Illustrate communication channels in an organisational chart;

       Illustrate lines of authority in an organisational chart;

       Illustrate the channels of economic exposure;

       Illustrate the effect of organisational structure on communication within an organisation

       Illustrate the models towards understanding risk;

       Illustrate the relationship between CVP and Income Taxes;

       Illustrate their ability to design an appropriate organisational structure that takes account of contingent internal and external environmental factors;

       Illustrate, with a high level of understanding, the issue of Profit Planning;

       Indicate how the interest rate derivatives market are managed;

       Indicate the effects of risk in the economy;

       Indicate the importance of vertical and horizontal relationships in organisational design;

       Indicate when translation exposure occurs;

       Know how financial exposure risk are managed;

       Know the reason for the existence of foreign currency market;

       Know what determines the extent to which the company is affected by economic exposure;

       Know what type of company is susceptible to transaction exposure;

       Know when credit risk arises;

       Lead informed discussion of futures market risk;

       Learn how to interpret statistical data;

       Learn how to manage risk with forward contracts;

       Learn how to manage risk with SWAPS;

       Learn how to use PESTEL in risk management.

       Learn to identify and measure currency risk;

       List the statutory information requirement for new employees and their timescale;

       Match the organisational design approach with the level of development of the organisation;

       Name the fundamental organisational structures and their variations;

       Provide a guide for Value Change Implementation;

       Provide an enhanced understanding of The Value Chain;

       Provide an example of Alternative Income Statement Formats;

       Provide an overview of Accounting as a Discipline;

       Provide evidence of their understanding of Sensitivity Analysis;

       Provide examples of different bases of divisional structure;

       Provide the bases for structural contingencies

       Recommend the most appropriate structure for an organisation, taking contingent factors into account  

       Show the vertical relationships in an organisational chart;

       Specify risks that are associated with socio-cultural change;

       Specify what are involved in managing fraud risk;

       Suggest the approaches which might be adopted in designing an organisation;

       Suggest the organisations position in relation to research and development on the one hand, and intellectual property rights on the other;

       Suggest ways by which their organisations intellectual property might be legally exploited;

       Supply an enhanced illustration of Cost Volume Profit (CVP);

       Translate the positive and negative factors of particular types of structure to the design of an organisation which will enhance the effectiveness of an enterprise

       Use practical examples to illustrate the the concept of Operating Leverage.

Postgraduate Diploma Programme Number 115 - Cost Accounting, Budgeting, Profitability Analysis, Strategy and Balanced Scorecard, Intensive Full-Time {3 Months (5 Days -30 Hours) per Week}  Postgraduate Programme, Leading to Postgraduate Diploma in Cost Accounting, Budgeting, Profitability Analysis and Balanced Scorecard. Click to download the brochure for this Postgraduate Diploma Programme.

Module 1

The Internal Accountant’s Role in an Organisation, Cost Terms and Purposes

M1. Part 1: The Accountant’s Role in an Organisation (1)

       Accounting Discipline Overview;

       Financial vs. Managerial Accounting;

       Strategy and Management Accounting;

       Management Accounting and Value;

       The Value Chain Illustrated;

       A Value Change Implementation.

M1. Part 2: The Accountant’s Role in an Organisation (2)

       Key Success Factors;

       Planning and Control System;

       A Five-Step Decision Making Process in Planning and Control;

       Management Accounting Outlines;

       A Typical Organisational Structure and the Management Accountant;

       Professional Ethics.

M1. Part 3: Cost Terms and Purposes (1)

       Basic Cost Terminology;

       Cost Objects Example at BMW;

       Direct and Indirect Cost;

       BMW: Assigning Costs to a Cost Object;

       Cost Examples;

       Factors Affecting Direct/Indirect Cost Classification;

       Cost Behaviour.

M1. Part 4: Cost Terms and Purposes (2)

       Cost Behaviour Summarised;

       Cost Behaviour Visualised;

       Other Cost Concepts;

       Relevant Range Visualised;

       A Cost Caveat;

       Multiple Classifications of Costs;

       Different Types of Firms;

       Types of Manufacturing Inventories.

M1. Part 5: Cost Terms and Purposes (3)

       Types of Product Cost;

       Accounting vs. Cost;

       Cost Flows;

       Cost Flows Visualized;

       Multiple - Step Income Statement;

       Cost of Goods Manufactured;

       Other Cost Considerations;

       Different Definitions of Costs for Different Applications;

       The Common Features of Cost Accounting and Cost Management.

Module 2

Cost-Volume-Profit (CVP) Analysis and Job Costing

M2. Part 1: Cost-Volume-Profit (CVP) Analysis (1)

       A Five-Step Decision-Making Process in Planning and Control Revisited;

       Foundational Assumptions in CVP;

       Basic Formulae;

       CVP: Contribution Margin;

       Cost–Volume–Profit Equation;

       Breakeven Point;

       Breakeven Point, extended:  Profit Planning.

M2. Part 2: Cost-Volume-Profit (CVP) Analysis (2)

       Cost Volume Profit (CVP);

       Profit Planning, Illustrated;

       CVP and Income Taxes;

       Sensitivity Analysis;

       Margin of Safety;

       Operating Leverage;

       Effects of Sales-Mix on CVP;

       Alternative Income Statement Formats.

M2. Part 3: Job Costing (1)

       Costing Terminology;

       Costing Systems;

       Costing Systems Illustrated;

       Costing Approaches.

M2. Part 4: Job Costing (2)

       Costing Approaches Summarized;

       Seven-Step Job Costing;

       Sample Job Cost Document;

       Sample Job Cost Source Documents;

       Job Costing Overview.

M2. Part 5: Job Costing (3)

       Journal Entries;

       Flow of Costs Illustrated;

       Illustrated General Ledger in a Job Cost Environment;

       Accounting for Overhead;

       Three Methods for Adjusting Over/Underapplied Overhead.

Module 3

Activity-Based Costing, Cost Management, Master Budgeting and Responsibility Accounting

M3. Part 1: Activity Based-Costing and Cost Management (1)

       Background;

       Broad Averaging;

       Over and Undercosting;

       Cross-subsidization;

       An Example: Plastim;

       Plastim and ABC Illustrated;

M3. Part 2: Activity Based-Costing and Cost Management (2)

       Plastim and ABC Rate Calculation;

       Plastim and ABC Product Costs;

       Plastim: Simple and ABC Compared;

       Conclusions;

       A Cautionary Tale;

       Rationale for Selecting a More Refined Costing System;

       Cost Hierarchies;

       ABC vs. Simple Costing Schemes;

       Activity-Based Management.

M3. Part 3: Master Budgeting and Responsibility Accounting (1)

       Budget Defined;

       The Ongoing Budget Process;

       Strategy, Planning, and Budgets, Illustrated;

       Advantages of Budgets;

       Components of Master Budgets.

M3. Part 4: Master Budgeting and Responsibility Accounting (2)

       Basic Operating Budget Steps;

       Basic Financial Budget Steps;

       Sample Master Budget, Illustrated;

       Other Budgeting Issues;

       Sensitivity Analysis;

       Budgeting and the Organization: Responsibility Accounting.

M3. Part 5: Master Budgeting and Responsibility Accounting (3)

       Types of Responsibility Centres;

       Budgets and Feedback;

       Controllability;

       Budgeting and Human Behaviour;

       Budgetary Slack.

Module 4

Flexible Budget, Direct and Overhead Cost Variances and Management Control

M4. Part 1: Flexible Budget, Direct Cost Variances and Management Control (1)

       Basic Concepts;

       Variances;

       Level 1 Analysis, Illustrated;

       Evaluation;

       Flexible Budget.

M4. Part 2: Flexible Budget, Direct Cost Variances and Management Control (2)

       Level 2 Analysis, Illustrated;

       Level 3 Analysis, Illustrated;

       Level 3 Variances;

       Variance Summary;

       Level 3 Variances.

M4. Part 3: Flexible Budget, Direct Cost Variances and Management Control (3)

       Variances and Journal Entries;

       Standard Costing;

       Standard Costs can be a Useful Tool;

       Benchmarking and Variances;

       Benchmarking Example: Airlines.

M4. Part 4: Flexible Budget, Overhead Cost Variances and Management Control (1)

       Planning and Overhead;

       Standard Costing;

       A Roadmap: Variable Overhead;

       A Roadmap: Fixed Overhead;

       Overhead Variances;

       Developing Budgeted Variable Overhead Cost Rates.

M4. Part 5: Flexible Budget, Overhead Cost Variances and Management Control  (2)

       The Details: Variable OH Variances;

       Developing Budgeted Fixed Overhead Cost Rates;

       The Details: Fixed OH Variances;

       Production-Volume Variance;

       Variable Overhead Variance Analysis Illustrated;

       Fixed Overhead Variance Analysis Illustrated;

       Production-Volume Variance;

       Integrated Variance Analysis: Illustrated.

Module 5

Inventory Costing, Capacity Analysis and Determining Costs Behaviour

M5. Part 1: Inventory Costing and Capacity Analysis (1)

       Inventory Costing Choices: Overview;

       Costing Comparison;

       Differences in Income;

       Comparative Income Statements;

       Comparative Income Statements—Three Years;

       Comparative Income Effects;

       Comparison of Alternative Inventory Costing Systems.

M5. Part 2: Inventory Costing and Capacity Analysis (2)

       Performance Issues and Absorption Costing;

       Inventories and Costing Methods;

       Other Manipulation Schemes Beyond Simple Overproduction;

       Management Countermeasures for Fixed Cost Manipulation Schemes;

       Income Effects of Inventory Build-up;

       Extreme Variable Costing: Throughput Costing;

       Throughput Costing Illustrated;

       Costing System Compared.

M5. Part 3: Determining How Costs Behave (1)

       Cost Functions;

       Cost Terminology;

       Cost Function Assumptions;

       Bridging Accounting and Statistical Terminology;

       Linear Cost Function;

       Linear Cost Functions Illustrated;

       Criteria for Classifying Variable and Fixed Components of a Cost;

       The Relevant Range Illustrated;

       Cause and Effect as It Relates to Cost Drivers.

M5. Part 4: Determining How Costs Behave (2)

       Cost Estimation Methods;

       Steps in Estimating a Cost Function Using Quantitative Analysis;

       Sample Cost—Activity Plot;

       High-Low Method;

       High-Low Method Plot;

       Regression Analysis;

       Types of Regression;

       Sample Regression Model Plot;

       Alternative Regression Model Plot;

       Terminology.

M5. Part 5: Determining How Costs Behave (3)

       Criteria for Evaluating Alternative Cost Drivers;

       Nonlinear Cost Functions;

       Nonlinear Cost Functions Illustrated;

       Types of Learning Curves;

       Sample Cumulative Average-Time Model;

       Sample Incremental Unit-Time Model;

       Time Learning Model Comparative Plots;

       Predicting Costs Using Alternative Time Learning Models;

       The Ideal Database;

       Data Problems.

Module 6

Decision-Making, Pricing Decision and Cost Management

M6. Part 1: Decision Making and Other Relevant Information (1)

       Decision Models;

       Five-Step Decision-Making Process;

       Relevance;

       Relevant Cost Illustration;

       Features of Relevant Information;

       Sunk Costs Are Irrelevant in Decision Making;

       A Starting Point: Absorption-Based Budgeted Income Statement;

       Types of Information;

       Terminology;

       Types of Decisions;

       One-Time-Only Special Orders;

       Special Order Illustration;

       Make-or-Buy Illustration;

       Potential Problems with Relevant-Cost Analysis.

M6. Part 2: Decision Making and Other Relevant Information (2)

       Avoiding Potential Problems with Relevant-Cost Analysis;

       Insourcing vs. Outsourcing;

       Qualitative Factors;

       Opportunity Costs;

       Product-Mix Decisions;

       Adding or Dropping Customers;

       Customer Profitability Analysis, Illustrated;

       Adding or Discontinuing Branches or Segments;

       Adding/Closing Offices or Segments;

       Equipment-Replacement Decisions;

       Behavioural Implications.

M6. Part 3: Pricing Decision (1)

       Pricing and Business;

       Influences on Demand and Supply;

       Time Horizons and Pricing;

       Differences Affecting Pricing: Long Run vs. Short Run;

       Alternative Long-Run Pricing Approaches;

       ABC Manufacturing Cost Illustration;

       Product Profitability Using ABC Costing: Illustration;

       Markets and Pricing;

       Market-Based Approach;

       Understanding the Market Environment;

       Five Steps in Developing Target Prices and Target Costs.

M6. Part 4: Pricing Decision (2)

       Value Engineering;

       Value Engineering Terminology;

       Cost Incurrence and Locked-In Costs Graph;

       Problems with Value Engineering and Target Costing;

       Target Costing Illustration;

       Cost-Based (Cost-Plus) Pricing;

       Forms of Cost-Plus Pricing;

       Common Business Practice;

       Life-Cycle Product Budgeting and Costing;

       Important Considerations for Life-Cycle Budgeting;

       Life Cycle Budgeting, Illustrated;

       Other Important Considerations in Pricing Decisions;

       The Legal Dimension of  Price Setting.

M6. Part 5: Cost Management (1)

       A Systems Framework:

       Accounting Information System.

       Factors Affecting Cost Management:

       Global Competition;

       Growth of the Service of the Industry;

       Advances in Information Technology;

       Advances in the Manufacturing Environment;

       Customer Orientation;

       New Product Development;

       Total Quality Management;

       Time;

       Efficiency.

       The Role of Management Accountant:

       Planning;

       Controlling;

       Continuous Improvement;

       Decision Making.

M6. Part 6: Cost Management (2)

       Accounting and Ethical Conduct:

       Benefits of Ethical Behaviour;

       Standards of Ethical Conduct for Management Accountants.

       Cost Management Concepts:

       Cost Assignment:

       Cost Objects ;

       Accuracy of Assignments.

       Product Costs:

       Definition;

       Product Costs and External Financial Reporting.

       External Financial Statement:

       Income Statement: Manufacturing Firm;

       Income Statement: Service Organisation.

       Functional-Based Cost Management Systems:

       Activity-Based Cost Management Systems;

       Choice of Cost Management Systems.

Module 7

Strategic Profitability Analysis and Sales Variance Analysis: Incorporating Balanced Scorecard and Cost Allocation

M7. Part 1: Strategy, Balanced Scorecard and Strategic Profitability Analysis (1)

       Strategy;

       Five Aspects of Industry Analysis;

       Basic Business Strategies;

       Implementation of Strategy;

       The Balanced Scorecard;

       Balanced Scorecard Perspectives;

       The Financial Perspective;

       The Customer Perspective;

       The Internal Business Prospective;

       The Learning and Growth Perspective;

       The Balanced Scorecard Flowchart;

       Balance Scorecard Illustrated.

M7. Part 2: Strategy, Balanced Scorecard and Strategic Profitability Analysis (2)

       Strategy and the Balanced Scorecard, Illustrated;

       Common Balanced Scorecard Measures;

       Balanced Scorecard Implementation;

       Features of a Good Balanced Scorecard;

       Balanced Scorecard Implementation Pitfalls;

       Evaluating Strategy;

       Revenue Effect of Growth;

       Cost Effect of Growth for Variable Costs;

       Cost Effect of Growth for Fixed Costs.

M7. Part 3: Strategy, Balanced Scorecard and Strategic Profitability Analysis (3)

       Revenue Effect of Price Recovery;

       Cost Effect of Price Recovery;

       Cost Effect of Price Recovery;

       Cost Effect of Productivity for Variable Costs;

       Cost Effect of Productivity for Fixed Costs;

       Strategic Analysis of Profitability Illustrated;

       The Management of Capacity;

       Analysis of Unused Capacity;

       Engineered vs. Discretionary Costs;

       Managing Unused Capacity.

M7. Part 4: Cost Allocation, Customer Profitability Analysis and Sales Variance Analysis (1)

       Cost Allocation;

       Purposes of Cost Allocation;

       Six-Function Value Chain;

       Criteria for Cost-Allocation Decisions;

       Cost Allocation Illustrated;

       Corporate and Division Overhead Allocation Illustrated;

       Customer Revenues and Customer Costs;

       Customer Revenues;

       Customer Cost Analysis.

M7. Part 5: Cost Allocation, Customer Profitability Analysis and Sales Variance Analysis (2)

       Customer Cost Hierarchy Example;

       Other Factors in Evaluating Customer Profitability;

       Customer Profitability Analysis Illustrated;

       Sales Variances;

       Sales-Mix Variance;

       Sales-Quantity Variance;

       Flexible-Budget and Sales-Volume Variances Illustrated;

       Sales-Mix and Sales–Quantity Variances Illustrated;

       Sales Variances Summarized.

Module 8

Cost Allocation and Process Costing

M8. Part 1: Allocation of Support Department Costs, Common Costs and Revenues (1)

       Allocating Costs of a Supporting Department to Operating Departments;

       Methods to Allocate Support Department Costs;

       Allocation Method Trade-Offs;

       Allocation Bases;

       Comparative Allocation Bases Illustrated.

M8. Part 2: Allocation of Support Department Costs, Common Costs and Revenues (2)

       Methods of Allocating Support Costs to Production Departments;

       Choosing Between Methods;

       Allocating Common Costs;

       Methods of Allocating Common Costs;

       Cost Allocations and Contracting;

       Revenue Allocation and Bundled Products.

M8. Part 3: Cost Allocation: Joint Products and By Products (1)

       Joint Cost Terminology;

       Examples of Joint Cost Situations;

       Joint Process Overview;

       Reasons for Allocating Joint Costs.

M8. Part 4: Cost Allocation: Joint Products and By Products (2)

       Joint Cost Allocation Methods;

       Method Selection;

       Sell-or-Process Further Decisions;

       Sell-or-Process Further Flowchart;

       By-products;

       Comparative Income Statements for Accounting for By-products.

M8. Part 5: Process Costing

       Job vs. Process Costing;

       Process Costing;

       Five-Step Process-Costing Allocation;

       Equivalent Units;

       General Ledger Cost Flows Illustrated;

       Result of the Process (As Before);

       Transferred-In Costs;

       Hybrid Costing Systems.

Module 9

Accounting for Spoilage, Rework and Scrap with Balanced Scorecard

M9. Part 1: Spoilage, Rework and Scrap (1)

       Basic Terminology;

       Accounting for Spoilage;

       Types of Spoilage;

       Process Costing and Spoilage;

       Inspection Points and Spoilage;

       The Five-Step Procedure for Process Costing with Spoilage.

M9. Part 2: Spoilage, Rework and Scrap (2)

       Job Costing and Spoilage;

       Job Costing and Accounting for Spoilage;

       Job Costing and Rework;

       Accounting for Scrap;

       Aspects of Accounting for Scrap;

       Number of Units of Normal and Abnormal Spoilage Changes, Depending on When Inspection Occurs.

M9. Part 3: Balanced Scorecard: Quality, Time and Theory of Constraints (1)

       Quality as a Competitive Tool;

       Two Basic Aspects of Quality;

       Quality and Failure;

       Four Perspectives of the Balanced Scorecard;

       The Financial Perspective: Costs of Quality (COQ);

       Elements of Costs of Quality Reports;

       Cost of Quality Exclusions;

       The Customer Perspective.

M9. Part 4: Balanced Scorecard: Quality, Time and Theory of Constraints (2)

       The Internal Business Process Perspective;

       Control Charts;

       Pareto Diagrams;

       Cause-and-Effect Diagrams;

       Nonfinancial Measures of Internal Business Process Quality;

       The Learning and Growth Perspective for Quality;

       Advantages of COQ (Financial) Measures;

       Advantages of Nonfinancial Measures of Quality.

M9. Part 5: Balanced Scorecard: Quality, Time and Theory of Constraints (3)

       Time as a Competitive Tool;

       Two Operational Measures of Time;

       Time Drivers;

       Simple Time Presumptions;

       Theory of Constraints and Throughput- Contribution Analysis;

       Four Steps in Managing Bottleneck Operations;

       Methods to Relieve Bottlenecks;

       The Balanced Scorecard and Time-Related Measures.

Module 10

Inventory Management, Simplified Costing, Capital Budgeting and Cost Analysis

M10. Part 1: Inventory Management, Just-in-Time (JIT) and Simplified Costing Methods (1)

       Inventory Management in Retail Organizations;

       Costs Associated with Goods for Sale;

       Management of Inventory Costs;

       The First Step in Managing Goods for Sale;

       Basic EOQ Assumptions;

       EOQ Formula;

       Ordering and Carrying Costs Illustrated;

       Ordering Points;

       Ordering Points Illustrated;

       Inventory Management and Safety Stock;

       Safety Stock Computation Illustration;

       Estimating Inventory-Related Relevant Costs;

       Carrying Costs.

M10. Part 2: Inventory Management, Just-in-Time (JIT) and Simplified Costing Methods (2)

       Opportunity Costs;

       Cost of a Prediction Error;

       Just-in-Time Purchasing;

       Relevant Costs in JIT Purchasing;

       Relationship between Carrying and Ordering Costs Illustrated;

       Analysis of Alternative Purchasing Policies Illustrated;

       JIT Purchasing and Supply-Chain Analysis;

       Supplier Evaluation Illustrated;

       Inventory Management and Materials Requirements Planning;

       MRP Information Inputs.

M10. Part 3: Inventory Management, Just-in-Time (JIT) and Simplified Costing Methods (3)

       Inventory Management and JIT Production;

       JIT Production Goals;

       JIT Production Features;

       Other Benefits of JIT Production;

       JIT and Enterprise Resource Planning Systems (ERP);

       Performance Measures and Control in JIT;

       Backflush Costing;

       Special Considerations in Backflush Costing;

       Sample Journal Entries in Backflush Costing;

       Sample General Ledger Flows in Backflush Costing;

       Lean Accounting.

M10. Part 4: Capital Budgeting and Cost Analysis (1)

       Two Dimension of Cost Analysis;

       Project and Time Dimensions of Capital Budgeting Illustrated;

       Capital Budgeting;

       Five Stages in Capital Budgeting;

       Four Capital Budgeting Methods;

       Discounted Cash Flows;

       Net Present Value (NPV) Method;

       Three-Step NPV Method;

       NPV Method Illustrated;

       Internal Rate of Return (IRR) Method;

       IRR Method Illustrated;

       NPV vs. IRR Methods.

M10. Part 5: Capital Budgeting and Cost Analysis (2)

       Sensitivity Analysis Illustration;

       Payback Method;

       Accrual Accounting Rate of Return Method (AARR);

       AARR Method Formula;

       Evaluating Managers and Goal-Congruence Issues;

       Relevant Cash Flows in DCF Analysis;

       Net Initial Investment;

       Cash Flow from Operations;

       Terminal Disposal of Investment;

       Cash Flow Effects from Investment Decisions, Illustrated;

       Managing the Project;

       Strategic Considerations in Capital Budgeting.

Module 11

Management Control Systems, Transfer Pricing and Multinational Operations

M11. Part 1: Management Control Systems

       Management Accounting System (MAS);

       Management Information System;

       Operational Control System:

       Loading;

       Sequencing;

       Detailed Scheduling.

       Inventory Control;

       Cost Control;

       Quality Control System;

       Budgeting as a Control Mechanism;

       Evaluating Management Control Systems.

M11. Part 2: Organisational Structure as a Control Mechanism (1)

       An Introduction to Organisational Design

       Approaches to Organisational Design

       Classical Organisational Design

       Bases of Classical Organisational Design

       Formal authority

       Rules & regulations

       Precedent for the establishment of future policy

       Protagonists of the Classical Approach to organisational Design

       Max Weber

       Frederick Taylor

       Henri Fayol

M11. Part 3: Organisational Structure as a Control Mechanism (2)

       Organisational Structure and Internal and External Relationships

       Levels of Control and Role Specificity

       Mechanistic and Organismic Structures and Their Types of Relationships

       A Case in Point: The Mechanistic Factory Setting;

       Vertical Relationships in Organisational Design

       Horizontal Relationships in Organisational Design

       Lines of Authority and Accountability in Organisational Design

       Types of Organisational Structure

       The Simple Structure

       The Functional Structure

       The Divisional Structure and Its Internal Relationships

M11. Part 4: Organisational Structure as a Control Mechanism (3)

       Bases of Divisionalisation

       Product Divisional Structure

       Service Divisional Structure

       Geographic or Regional Divisional Structure

       The Matrix Structure

       Divisional Matrix Structure;

       Functional Matrix Structure.

       Customised Matrices;

       The Divisional Structure Compared with the Functional Structure on the Basis of:

       Communication,

       Co-Ordination,

       Worker Autonomy,

       The Organisation of the Matrix Structure

       Identifying and Designing Organisational Structures

M11. Part 5: Transfer Pricing and Multinational Operations

       Costs of Decentralization;

       Decentralization and Multinational Firms;

       Choices about Responsibility Centres;

       Transfer Pricing;

       Three Transfer Pricing Methods;

       Market-Based Transfer Prices;

       Cost-Based Transfer Prices;

       Hybrid Transfer Prices;

       Negotiated Transfer Prices;

       Comparison of Transfer-Pricing Methods;

       Transfer Pricing Illustration;

       Minimum Transfer Price;

       Multinational Transfer Pricing and Tax Considerations.

Module 12

Organisational Performance Measurement and Financial Risk Management

M12. Part 1: Organisational Performance Measurement (1)

       Financial and Nonfinancial Measures;

       Balanced Scorecard Flow;

       Accounting-Based Performance Measures;

       Choosing Among Different Performance Measures;

       Return on Investment (ROI);

       Residual Income (RI);

       Economic Value Added (EVA);

       Return on Sales (ROS);

       Choosing the Time Horizon of the Performance Measures;

       Choosing Alternative Definitions for Performance Measures;

       Choosing Measurement Alternatives for Performance Measures;

       Choosing Target Levels of Performance;

       Choosing the Timing of the Feedback;

       Performance Measurement in Multinational Companies.

M12. Part 2: Organisational Performance Measurement (2)

       Managers vs. Organization Units;

       The Trade-Off: Creating Incentives vs. Imposing Risk;

       Moral Hazard;

       Intensity of Incentives;

       Preferred Performance Measures;

       Performance Measures at the Individual Activity Level;

       Compensation for Multiple Tasks;

       Team-Based Compensation;

       Executive Compensation Plans;

       Strategy and Levers of Control;

       Diagnostic Control Systems;

       Boundary Systems;

       Belief Systems;

       Interactive Control Systems.

M12. Part 3: Financial Risk Management (1)

       Defining Risk – Generally;

       Financial Risk: A Plausible Definition;

       Financial Risk in an Organisational Setting;

       Financial Risk and ‘Market Dynamics’;

       Liquidity Risk;

       Operating Risk;

       Fraud Risk;

       Settlement Risk;

       Corporate Strategy and Risk Management;

       The Currency Derivatives Market.

M12. Part 4: Financial Risk Management (2)

       Asset Behaviour and Pricing Implications;

       Credit and Counterparty Risk;

       The Legal and Political Risk Environments;

       Risk as an Economic Factor;

       Technological Risk Factor;

       Risk associated with Socio-Cultural Change.

       Risk in Financial Institutions;

       Banking Risk;

       Risk and the Currency Market.

M12. Part 5: Financial Risk Management (3)

       Risk and the Equity Market;

       Futures Market Risk.

       Economic Exposure;

       Transaction Exposure;

       Translation Exposure;

       Calculating Risk in Financial Exposure.

       Managing Risk with Forward Contracts;

       The Interest Rate Derivatives Market;

       Managing Equity Risk;

       Identifying and measuring Currency Risk;

       Managing Financial Exposure Risk.

Postgraduate Diploma Programme Number 115 - Cost Accounting, Budgeting, Profitability Analysis, Strategy and Balanced Scorecard, Intensive Full-Time {3 Months (5 Days -30 Hours) per Week} per Week} Postgraduate Programme, Leading to Postgraduate Diploma in Cost Accounting, Budgeting, Profitability Analysis and Balanced Scorecard. Click to download the brochure for this Postgraduate Diploma Programme.