Certified Management Accounting (CMA)

Introduction

The Certified Management Accounting (CMA) course is a comprehensive and advanced program designed for professionals seeking to enhance their skills in management accounting and financial management. This five-day course provides participants with the most modern and up-to-date concepts, tools, and techniques required to excel in the field of management accounting. It combines theoretical knowledge with practical applications to equip participants with the necessary skills to make informed financial decisions and contribute effectively to organizational success.

Objectives

• Advanced Understanding of Management Accounting: Gain a deep understanding of the principles, concepts, and techniques of management accounting, including cost analysis, budgeting, performance measurement, and decision-making.

• Financial Management Skills: Develop advanced financial management skills, including financial analysis, planning, and control, to support strategic decision-making and maximize organizational performance.

• Strategic Planning and Execution: Learn how to integrate management accounting practices into strategic planning processes, align financial goals with organizational objectives, and effectively execute financial strategies.

• Risk Management and Internal Controls: Understand the importance of risk management and internal controls in ensuring organizational sustainability and learn how to identify, assess, and mitigate risks effectively.

• Ethical Considerations: Explore ethical considerations in management accounting and learn to apply ethical principles and professional standards in financial decision-making.

Course Outline

Day 1

 Introduction to Management Accounting

• Introduction to management accounting and its role in organizational decision-making
• Cost concepts and classifications
• Cost behavior analysis and cost-volume-profit analysis
• Costing methods: Job order costing and process costing

Day 2

 Budgeting and Performance Measurement

• Budgeting concepts and techniques
• Master budget and its components
• Variance analysis and performance measurement
• Balanced scorecard and key performance indicators (KPIs)

Day 3

 Financial Analysis and Planning

• Financial statement analysis
• Ratio analysis and interpretation
• Cash flow analysis and forecasting
• Capital budgeting and investment decisions

Day 4

 Strategic Management Accounting

• Strategic planning and management accounting
• Strategic cost management
• Pricing strategies and decision-making
• Performance measurement in strategic contexts

Day 5

 Risk Management and Ethical Considerations

• Risk management and internal controls
• Corporate governance and ethical considerations
• Professional ethics in management accounting
• Exam preparation and review