About the Course

The 5-day interactive Accounting & Management Control System (AMCS) training course is designed to equip delegates with an in-depth understanding and practical knowledge of the latest principles, techniques, and innovations in the accounting and management control field. It ensures a robust knowledge of critical financial analysis techniques, starting with the foundational aspects of accounting principles, including GAAP and IFRS, and moving through comprehensive financial statement analysis and advanced performance evaluation metrics. It focuses on cost management and operational control, exploring contemporary cost accounting methods, strategic cost management applications, and budgeting and variance analysis for enhanced operational decision-making.

Delegates will gain insights into designing effective management control systems, focusing on performance measurement, the Balanced Scorecard, and the strategic linkage of management controls to organisational objectives. This training program further integrates cutting-edge topics like the use of ERP systems, business intelligence, and big data analytics alongside the impacts of AI, blockchain, and cybersecurity on financial processes. Finally, it addresses vital governance, risk management, and sustainability issues while keeping an eye on emerging global trends and the future context of accounting and management control systems. It aims to prepare professionals for the evolving challenges and opportunities in accounting and management control, enhancing their capabilities to contribute to strategic decision-making and organisational success.

Core Objectives

The delegates will achieve the following objectives:

• Gain a solid understanding of GAAP and IFRS principles and their application in financial reporting and analysis
• Develop skills in comprehensive financial statement analysis to evaluate company performance accurately
• Learn contemporary cost accounting and strategic cost management methods for effective operational control
• Create management control systems that align with and support organisational objectives, incorporating tools like the Balanced Scorecard
• Understand the impact of technological innovations such as ERP systems, AI, and blockchain on accounting and management control
• Explore the principles of corporate governance, ethics, and risk management strategies to uphold integrity and professionalism
• Analyse current and future trends in accounting and management control to prepare for the evolving business context

Training Approach

The training course is structured around a dynamic and interactive pedagogical approach, incorporating a mix of interactive sessions, case study analyses, and practical exercises tailored to engage delegates actively and foster a deep understanding of the subject matter. They are encouraged to share their insights and experiences through interactive sessions, facilitating a rich exchange of knowledge and perspectives.

Case study analyses provide real-world context, allowing delegates to explore complex scenarios and apply theoretical concepts in practical settings. Practical exercises reinforce learning outcomes, directly enabling them to apply new skills and tools to realistic situations. This comprehensive method ensures a balanced mix of theory and practice, enhancing delegates’ learning experience and preparing them to implement their newfound knowledge effectively in their professional roles.

The Attendees

This training course is designed for professionals in the financial sector who want to enhance their expertise in accounting and management control.

Likewise, it will be valuable to the professionals but not limited to the following:

• Financial Analysts and Accountants
• Management Accountants
• Financial Controllers and Finance Managers
• Chief Financial Officers (CFOs)
• Internal Auditors and Compliance Officers
• Strategic Planners and Business Analysts

Daily Discussion

DAY ONE: ACCOUNTING PRINCIPLES AND FINANCIAL ANALYSIS 

• Overview of Accounting Principles: GAAP and IFRS
• Comprehensive Financial Statement Analysis: Income Statement, Balance Sheet, Cash Flow Statement
• Advanced Ratios and Financial Metrics for Performance Evaluation
• Dynamic Financial Analysis Techniques: Trend Analysis, Horizontal and Vertical Analysis
• The Role of Accounting in Corporate Finance and Investment Decision Making

DAY TWO: COST MANAGEMENT AND OPERATIONAL CONTROL

• Detailed Examination of Cost Accounting Techniques: Job Order Costing, Process Costing, and Activity-Based Costing (ABC)
• Strategic Cost Management: Concepts and Real-world Applications
• Operational Budgeting and Forecasting Techniques
• Variance Analysis for Cost Control and Performance Management
• Integrating Cost Information into Operational Decision-Making

DAY THREE: ADVANCED MANAGEMENT CONTROL SYSTEMS 

• Design and Implementation of Effective Management Control Systems
• Performance Measurement: Financial and Non-financial Indicators
• The Balanced Scorecard and Strategy Maps: From Theory to Practice
• Strategic Management Controls: Linking Strategy to Performance
• Role of Management Control Systems in Achieving Organisational Objectives

DAY FOUR: TECHNOLOGICAL INNOVATIONS AND DATA ANALYTICS

• Leveraging ERP Systems for Enhanced Management Control
• Introduction to Business Intelligence (BI) and Big Data Analytics in Accounting
• The Impact of AI and Machine Learning on Financial Processes and Decision-Making
• Blockchain Technology and Its Application in Accounting and Auditing
• Cybersecurity Fundamentals for Accountants and Financial Professionals

DAY FIVE: GOVERNANCE, RISK MANAGEMENT, AND EMERGING TRENDS

• Corporate Governance and Ethics in Financial Reporting
• Comprehensive Risk Management Strategies and Internal Controls
• Sustainability and Environmental Accounting: Concepts and Practices
• Emerging Trends in Accounting and Management Control Systems: A Global Perspective
• Future of Accounting: Challenges and Opportunities