Top Trends in Management Accounting Ultimately costing principles, such as the causality principle, must be converted into practical practices with supporting tools. This presentation examines how cost modeling has evolved over the last century. It will describe the trends and obstacles that have helped or delayed developments. These evolving areas and trends include:
• The expansion from product costing to include channel and customer profitability reporting and analysis.
• The integration of managerial accounting with other enterprise and corporate performance management (EPM/CPM) methods (e.g., the balanced scorecard, incentive compensation, risk management, supply chain management)
• The shift from historical reporting to predictive accounting (e.g., marginal / incremental costing; rolling financial forecasts, performance-based and driverbased budgeting, customer lifetime value [CLV] )
Publication Date: July 2015
Designed For
Any Practitioners looking expand their knowledge in accounting and its trends
Topics Covered
- The expansion from product to channel and customer profitability analysis
- Integration of MA with EPM / CPM
- The shift from historic to predictive accounting
- Imbedding analytics into MA and EPM
- Debates over costing methods (e.g., lean, TDABC)
- Managing IT as a business (chargebacks, SLAs)
- Recognition that "change management" is critica
Learning Objectives
- Recognize how trends in management accounting practices have expanded
accountants from "bean counters" to "bean growers."
- Identify and differentiate strategic KPIs in a balanced scorecard, and operational
performance indicators (PIs) in dashboards.
- Apply "predictive accounting" for driver-based budgets / rolling financial
forecasts, what-if analysis, and outsourcing decisions.
- Imbed statistics and analytics into product, channel, and customer profitability
analysis.
- Overcome implementation barriers.
Level
Overview
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Gary Cokins
Gary Cokins is an internationally recognized expert, speaker, and author in advanced cost management and performance improvement systems. He is the founder of Analytics-Based Performance Management, an advisory firm located in Cary, North Carolina. Gary received a BS degree with honors in Industrial Engineering/Operations Research from Cornell University in 1971. He received his MBA from Northwestern University’s Kellogg School of Management in 1974.
Gary began his career as a strategic planner with FMC’s Link-Belt Division and then served as Financial Controller and Operations Manager. In 1981 Gary began his management consulting career first with Deloitte consulting, and then in 1988 with KPMG consulting. 1992 Gary headed the National Cost Management Consulting Services for Electronic Data Systems (EDS) now part of HP. From 1997 until 2012 Gary was in business development with SAS, a leading provider of enterprise performance management and business analytics and intelligence software.