Managerial Accounting and Reporting Syllabus

In accordance with the Protocol of Cooperation between Lebanese Association of Certified Public Accountants (LACPA) and Institute of Management Accountant (IMA), LACPA is introducing 48 hours training program on “Managerial Accounting and Reporting” based on the CMA training program owned by the institute.

The “Managerial Accounting and Reporting” program which demonstrates the key areas in management accounting knowledge and skills.

Managerial Accounting Syllabus

A. Budgeting and Forecasting

1.   Budgeting concepts

  1. Fundamentals: Terminology, Budget Cycle, and Reasons for Budgeting
  2. Operations and performance goals
  3. Characteristics of a successful budget process
  4. Resource allocation
  5. Other budgeting concepts

 

2.   Forecasting techniques

  1. Regression analysis
  2. Learning curve analysis
  3. Expected value

 

3.   Budget methodologies

  1. Options for Budget Creation
  2. Project budgeting
  3. Activity-based budgeting
  4. Incremental budgeting
  5. Zero-based budgeting
  6. Continuous (rolling) budgets
  7. Flexible budgeting

 

4.   Annual profit plan and supporting schedules

  1. Master budget
  2. Operating budgets
  3. Financial budgets

  

5.   Top-level planning and analysis

  1. Pro forma income statement
  2. Financial statement projections
  3. Cash flow projections

  

B. Performance Management

  1. Cost and variance measures
  1. Comparison of actual to planned results
  2. Use of flexible budgets to analyze performance
  3. Management by exception
  4. Use of standard cost systems
  5. Analysis of variation from standard cost expectations

 

  1. Performance measures
  1. Product profitability analysis
  2. Business unit profitability analysis
  3. Customer profitability analysis
  4. Return on investment
  5. Residual income
  6. Investment base issues
  7. Key performance indicators (KPIs)
  8. Balanced scorecard

 

 C.  Cost Management

  1. Measurement concepts
  1. Cost behavior and cost objects
  2. Actual and normal costs
  3. Standard costs
  4. Absorption (full) costing
  5. Variable (direct) costing
  6. Joint and by-product costing

 

 

 

  1. Costing systems
  1. Job order costing
  2. Process costing
  3. Activity-based costing
  4. Life-cycle costing

 

  1. Overhead costs
  1. Fixed and variable overhead expenses
  2. Plant-wide versus departmental overhead
  3. Determination of allocation base
  4. Allocation of service department costs

     

  1. Operational efficiency
  1. Material Requirements Planning (MRP)
  2. Just-in-Time Manufacturing (JIT)
  3. Outsourcing
  4. Theory of constraints and throughput costing
  5. Capacity concepts

 

  1. Business process performance
  1. Value chain analysis
  2. Value-added concepts
  3. Process analysis
  4. Benchmarking
  5. Activity-based management
  6. Continuous improvement concepts (Kaizen)
  7. Best practice analysis
  8. Costs of quality analysis

 

D. Financial Statement Analysis

  1. Financial Ratios
  1. Liquidity/Solvency Ratios
  2. Leverage
  3. Off-Balance Sheet Financing
  4. Activity

 

  1. Profitability analysis
  1. Profitability
  2. Revenue analysis
  3. Expense analysis
  4. Income measurement analysis

 

E. Corporate Finance

  1. Risk and return
  1. Calculating return
  2. Types of risk
  3. Relationship between risk and return

 

  1. Managing Financial Risk
  1. Business risk
  2. Financial risk

 

F. Investment Decisions

  1. Capital budgeting process
  1. Stages of capital budgeting
  2. Incremental cash flows

 

  1. Discounted cash flow analysis
  1. Net present value
  2. Internal rate of return
  3. Comparison of NPV and IRR

 

  1. Payback and discounted payback
  1. Uses of payback method
  2. Limitations of payback method
  3. Discounted payback

 

  1. Risk analysis in capital investment
  1. Sensitivity and scenario analysis