Business Advisory: Support SMEs with Cost and Management Accounting
CPD Hours: 2
Price: R450.00
Business Advisory: Support SMEs with Cost and Management Accounting
Presenters : Constance Kawelenga CA(SA)
Overview
Small and medium-sized enterprises (SMEs) play a crucial role in the global economy, representing a significant source of employment and growth. However, many SMEs struggle with financial management, particularly when it comes to cost and management accounting.
To satisfy the needs of all stakeholders, it is important for every SME, with the help of their business advisor, to develop a sound accounting system that incorporates financial accounting, cost accounting, and management accounting.
Learning objectives
Attending this webinar will equip you with the following skills:
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Establish an internal reporting system that combines cost accounting, financial accounting, and management accounting.
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Acquire knowledge about the different cost accounting tools and techniques that business advisors can use for SMEs.
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Understand and apply the tools and techniques of management accounting in the daily business operations of SMEs.
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Use cost accounting principles to assist SME business owners and managers in their day-to-day decision-making roles.
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Apply management accounting methods in an advisory role for SMEs to make optimal decisions regarding resource utilisation.
Content
The webinar will cover the following topics:
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Relationship between cost accounting, financial accounting, and management accounting.
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Cost accounting.
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Concept of cost.
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Objectives, importance, and scope of cost accounting.
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Classifications and elements of cost.
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Methods and techniques of costing.
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Cos accounting standards.
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Role of cost accounting in SME decision-making.
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Management Accounting
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Evolution, meaning, objectives, nature, and scope.
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Tools and techniques of management accounting.
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Limitations of management accounting.
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Conflicts in profit versus value maximisation principle.
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Role of management accountant in decision-making.
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