Effective Management Accounts & Variance Analysis

by Mr Chow

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  • Provides insight into the differing types of 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
  1. Differing Management Account Structures and 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. Analysing Variances
    • Relevance of Flexing the Budget
    • Interpreting & Analysing Variances
      • Sales variances
      • Material variances
      • Labor variances
      • Spending variances
      • Capacity variances
    • Impact of Budgeting Method
    • Checklist for Variance Reports
  • Financial Managers, Accountants and Analysts who need to structure management accounts for 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 promoting accountability

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, Strategic and Supply Chain Management.

Dates

08 Oct 2021
13 Dec 2021

Course Fee

S$565.00

The class offers in-class or virtual learning
  • Time: 9am – 5pm
  • MIS Member enjoy 10% Discount
  • Register for 8 or more participants to enjoy 10% Group Discount
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