A Masterclass in Strategic Management Accounting
What you'll learn
- Understand the strategic role of management accounting in achieving long-term business sustainability.
- Learn how to design an ABC system, identify cost drivers, and assign costs to products and services more accurately.
- Learn how to apply quality cost concepts, such as prevention costs, appraisal costs, and failure costs, to improve business processes and product quality.
- Learn how calculate transfer prices using various methods (e.g., market-based, cost-plus, negotiated pricing).
- Learn how to create a balanced scorecard that includes financial, customer, internal process, and learning and growth perspectives
- Learn methods to measure and manage business performance using various accounting tools.
Requirements
- No expertise in accounting needed. You will learn all you need to know.
Description
This comprehensive online course is designed to give students a thorough understanding of management accounting principles and practices. Management accounting is crucial in helping organizations make informed financial decisions, improve efficiency, and achieve strategic goals. This course will cover a wide range of topics, from the basics of job and activity-based costing to advanced techniques in transfer pricing, the balanced scorecard, performance measurement, and strategic management.
Key Topics Include:
Management Accounting Fundamentals: Introduction to the role and importance of management accounting in business decision-making.
Activity-Based Costing (ABC): Designing and implementing an ABC system to accurately assign costs to products and services.
Strategic Management Accounting and Sustainability: Integrating management accounting practices with strategic planning and sustainability initiatives.
Accounting for Quality Management: Incorporating quality cost concepts to improve business processes and product quality.
Time-Driven Activity-Based Costing (TDABC): Competing on time, how to account for time constraints and bottlenecks in manufacturing and service operations. Including the Theory of Constraints.
Transfer Pricing: Exploring methods and regulatory aspects of transfer pricing within multinational corporations.
Balanced Scorecard Implementation: Developing and implementing a balanced scorecard to align business activities with organizational vision and strategy.
Performance Measurement and Management: Use of key performance indicators (KPIs) and balanced scorecards to evaluate and manage business performance.
Who this course is for:
- For accountants, business people and consultants who want to understand how management accounting systems work so that they can implement them and improve such systems in practice.
Instructor
- 4.4 Instructor Rating
- 187 Reviews
- 998 Students
- 5 Courses
Dr. Neale G O'Connor is an Accounting Professor and Founder of Ricebox - China Strategy Research.
Dr. Neale O’Connor is one of the foremost experts on technology and innovation in manufacturing in China. His speaking engagements and executive programs are in demand from international and mainland China managers. Neale has spent 18 years in Hong Kong where he researched the modernization processes of Chinese firms, examining issues such as performance measurement, order qualification, and trust. His 'China 1000' project (Chinasupplier1000) is the largest ever survey of operational risk issues for foreign buyers and Chinese suppliers. In 2016-17, he followed this up with 1000 more supplier interviews and video documented the challenges and responses of over 100 IOT startups (YouTube – Tech Asia). Most recently he has been undertaking factory quality audits for multinational clients and advising on operational and marketing improvements.
Neale is also a Cofounder of China Sourcing Academy a complete training system for professional buyers seeking to source from China. He is also a member of the CIMA Research Board of Directors (U.K.) and a Corporate Social Responsibility judge for the HKMA Financial Reporting Awards.
Neale is the author of The China Casebook on Operational Risk, and The Management Control of MNCs in China. Neale has developed corporate business cases for a number of large multinational companies including HTC, PQI, Philips, Delphi, and Alpharma. His cases are used extensively around the world. Based on publications, citations and research grants, he is one of the leading management accounting researchers in Asia.
He has previously taught at Hong Kong Baptist University, City University of Hong Kong, The University of Hong Kong and The National University of Singapore. He has worked in the Petroleum and Insurance industries as well as an Accountant.