Cost and Management Accounting (CMA) Programme

VENUE: Mwanza, Tanzania
DATES: 20th – 31st May, 2019 (2 weeks)
FEES: US $ 1,300 only

Statement of Need
One of the cardinal principles of organizational success is the ability to develop appropriate costing and pricing systems, budgeting and budgetary control systems and empower staff to prepare strategic, medium, and annual operational plans and translate them into annual budgets. Cost and management accounting involves spelling out and costing the resources needed to operationalize the plans. The resources here include human, capital, technology, plant and machinery, as well as financial resources (required money). In addition, organizations need to control the implementation of the plans by deploying the resources provided in the budget, so as to enable the organization to achieve its SMART objectives. This programme will prove to be very beneficial to all Organizational Officers involved in Cost and Management Accounting (CMA).

Objectives of the Programme
By the end of the programme, participants will be able to correctly:

• Comprehend Cost and Management Accounting (CMA) theory, methods and techniques and be able to correctly apply them in their organizations
• Participate in the development of annual plans and budgets, covert plans into the required costs (hence budgets) and introduce budgetary controls in their respective areas of operation, and
• Successfully implement CMA methods and/or Techniques in their areas of command

Subject Areas shall include:

• Cost and Management Accounting (CMA) in comparison with Financial Accounting
• Cost Behavior: Variable Cost behavior, Fixed cost behavior and Semi-Fixed Cost behavior
• Preparation of Cost of Goods Manufacturing and their Sales
• Cost-Volume-Profit (C-V-P) Analysis (Break – Even Analysis): Single product C-V-P analysis and Multiple Products C-V-P analysis, and
• Cost Accounting Systems applications, Job Order Costing System and Process Costing system
• Standard Costing for Materials and Variance Analysis; Standard Costing for Factory Overhead and Variance Analysis
• Responsibility Accounting Systems and Flexible Budgeting Systems, as well as
• Behavioral Aspects of Budgeting

Target Participants
The primary target audience consists of the management and staff involved in the costing preparation and implementation of annual plans and budgets, monitoring the implementation, and reporting on compliance with the approved cost accounting system.