Management Accounting

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Course Description

The Managerial Accounting course provides students with a solid understanding of the key concepts and practices used in management accounting to support internal decision-making. Unlike financial accounting, which focuses on external reporting, managerial accounting emphasizes tools and techniques that help managers plan, control, and evaluate business operations.

The Managerial Accounting course will be broken down into two courses: Managerial Accounting I (part a and part b) and Managerial Accounting (part c and part d) delivered for 4 weeks each. The price below is only for Managerial Accounting I. We can run Managerial Accounting II based on client demand. Please click on course content to see what is taught in each course.

Topics covered include:

  • Financial accounting vs. management accounting

  • Cost accounting fundamentals and costing systems

  • Activity-based costing

  • Preparation of budgets and variance analysis

  • Fixed and variable cost behavior and analysis

By the end of the course, students will be equipped to interpret and apply accounting data for budgeting, cost control, and strategic decision-making—essential skills for careers in management, finance, and operations.

An understanding of basic Accounting (Accounting Essentials I) is required. Knowledge of Financial Accounting is an asset.

Benefits of Managerial Accounting

In today’s rapidly evolving economic environment, business owners face constant challenges that can significantly impact their company’s financial health. Management accounting has become an indispensable resource, offering critical insights and strategic tools that often determine whether a business succeeds or fails.

  • Enhanced Decision-Making
    Management accounting provides real-time data, enabling business owners to make informed and timely decisions.

  • Cost Control
    Effective cost management is essential for profitability. Management accounting identifies areas where expenses can be reduced or eliminated, improving operational efficiency and market competitiveness.

  • Cash Flow Management
    Maintaining a healthy cash flow is vital for survival and growth. Management accounting tools help forecast cash flow, ensuring businesses meet financial obligations while planning for long-term expansion.

  • Scenario Analysis
    Through “what-if” analyses and scenario planning, management accountants assess the potential impact of changing economic conditions. This proactive approach helps businesses prepare for uncertainty.

  • Performance Measurement
    By tracking key success factors (KSFs), businesses can evaluate both financial and non-financial performance, pinpointing areas for improvement and gaining a comprehensive view of overall health.

  • Risk Management
    Management accounting identifies and mitigates significant financial risks, safeguarding the company’s stability.

  • Budgeting and Forecasting
    Accurate budgeting and forecasting are crucial for short-term survival and long-term growth. Management accounting equips businesses with tools to plan effectively for the future.

  • Tax Planning
    Strategic tax planning by management accountants can reduce liabilities and generate substantial cost savings.

  • Stakeholder Confidence
    Transparent and reliable financial reporting builds trust among stakeholders—investors, lenders, and shareholders—strengthening confidence in the business during both stable and uncertain times.

  • Course Outline

    A. Part 1

    · Intro to management accounting

    · Differences between financial and management accounting

    · Intro to cost behavior & cost-volume relationships

    · Variable vs fixed costs

    · Cost volume profit analysis

    · Break even point and contribution analysis

    · Cost volume analysis

    · Variations of cost behavior and cost drivers

    · Committed vs Discretionary fixed costs

    B. Part 2

    · Introduction to cost management systems

    · Different cost categories

    · Activity based accounting, value-added costing, & just-in-time systems

    · Deleting Or Adding Products Or Departments

    · Optimal use of limited resources

    · Influences on pricing in practice

    · Opportunity, outlay & differential costs

    · Differential and incremental costs

    · Make or buy product decisions

    · Joint product costing

    C. Part 3

    · Introduction to Budgets

    · Master budget – the overall plan

    · How to develop a Master Budget

    · How to develop the operating budget and budgeted financial statements

    · Flexible budgets

    · Analysis of budgets versus actual operations – Variance Analysis

    · Evaluate performance using budgets

    D. Part 4

    · Management control systems & responsibility accounting

    · Non-financial measures of performance – Balanced Scorecard

    · Centralization vs de-centralization

    · Transfer pricing

    · Motivation, performance & rewards

    · Cost allocations – introduction

    · Activity based costing

    Learning Outcomes:

    By the end of this course, students will be able to:

    • Identify different types of costs and cost drivers in the accounting world

      How to help a business identify areas to reduce costs and be more profitable

      Will be able to create and analyze different what-if-scenarios for business management to make effective cost-profit related decisions

      Be able to create budgets, forecasted financials including cash flow statements and financial statements based on forecasted costs and profits

      Understand the importance of key non-financial indicators of performance for a business

      Help internal management develop more reliable, transparent and accurate internal financials that stakeholders can rely on including investors, banks and shareholders

    Course Time Commitment:

    Ø Duration: 4 weeks

    Ø Schedule: Every Tuesday and Thursday from 6-8:30pm EST

    Ø Class Time: (5) hours per week (total of 20 hours of instruction.

    All exercises are intended to be completed during class time. However, if additional practice is needed, students should expect to spend approximately 5–7 hours outside of class reviewing complex topics and working through exercises.

    Ø Format: Instructor-led online with camera on during class unless otherwise advised by instructor.

    Student Evaluation:

    The instructor will evaluate the learners based on the following criteria:

    • Participation in the classes themselves

    • Attendance for at least majority of classes

    • Performance on group discussions and stimulations during class, hands-on exercises, case studies and demonstrations, and debrief of individual and group exercises.

    • Knowledge of basic Accounting is required

    • Knowledge of Financial Accounting is an asset

    • Basic knowledge of computers

    • Intermediate level of English in reading, writing and speaking (CLB6 and higher)

  • CAD $600

  • Zaimin Karmali is a CPA (Certified Public Accountant) and Microsoft Certified.  She has a Masters in Adult Education and is a Certified Training Development Professional. She has over 10 years of teaching in both the public and private sector designing her own curriculum and training strategy on complex accounting and business topics.  She has over 20 years of accounting, audit and tax experience and has worked with a wide array of clients both in the government and private sector. She has a passion for teaching and always will. She loves to make students’ learning journey as valuable as possible, her way of making a difference in the world.

  • Training model: online

    Course length: 4 weeks, 20h

    Classes held on Tuesdays and Thursdays (6-8:30pm EST)

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