Certificate in Managerial Accounting

Course details

Managerial accounting, also called management accounting, is a method of accounting that creates statements, reports, and documents that help management in making better decisions related to their business' performance. Managerial accounting is primarily used for internal purposes.

Why should one take Certificate in Managerial Accounting
This Course is intended for professionals and graduates wanting to excel in their chosen areas. It is also well suited for those who are already working and would like to take certification for further career progression.

Candidates get brushed up on managerial accounting concepts such as variance analysis, process costing and more.

Earning Vskills Managerial Accounting Certification can help candidate differentiate in today's competitive job market, broaden their employment opportunities by displaying their advanced skills, and result in higher earning potential.  

The certification covers

• Ratio Analysis
• Accounting Standards, GAAP, IFRS
• Depreciation and Inventory
• Cash Flow
• Product and Process Costing
• Cost Volume Profit Analysis

Who will benefit from taking Certificate in Managerial Accounting
Job seekers looking to find employment in management, finance and accounts departments of various companies, students generally wanting to improve their skill set and make their CV stronger and existing employees looking for a better role can prove their employers the value of their skills through this certification.
 
Benefits of Certification

• Government certification
• Certification valid for life
• Lifelong e-learning access
• Learning Hours: 10+ hrs

 
How It Works

1. Select Certification & Register
2. Receive Online e-Learning Access (LMS)
3. Take exam online anywhere, anytime
4. Get certified & Increase Employability

Test Details

• Duration: 60 minutes
• No. of questions: 50
• Maximum marks: 50, Passing marks: 25 (50%).
• There is NO negative marking in this module.
• Online exam.

 
TABLE OF CONTENT

Fundamentals of Managerial Accounting

• Managerial Accounting Basics
• Cost Concepts
• Managerial Accounting New Concepts

Financial Statements

• Financial Statements
• Importance of Financial Statements
• The Income Statement
• The Balance Sheet
• Statement of Cash Flows
• Manufacturing Costs in Financial Statements
• Financial Statement Analysis Basics
• Comparative Statement
• Common Size Statement
• Trend Analysis

Ratio Analysis

• Ratio Analysis Basics
• Limitations of Ratio Analysis
• Classification of Ratios
• Liquidity Ratios
• Leverage Ratios
• Turnover or Activity Ratios
• Profitability Ratios
• Valuation Ratios
• Comparative Analysis
• DuPont System

Accounting Standards, GAAP, IFRS

• Accounting Standards Basics
• Global Standardization and IFRS
• Enterprise Classification
• Why Accounting Standards are Needed?
• Accounting Standard Board
• Objectives of Financial Reporting
• Characteristics and Limitations of a Financial Report
• IFRS
• GAAP
• US-GAAP

Depreciation and Inventory

• Depreciation Basics
• Depreciation Accounting
• Depreciation Methods
• Inventory Management

Cash Flow

• Type of Cash Flow
• Actual Flow of Cash:
• Notional Cash Flow
• Notional outflow of cash
• Source of Cash Inflow
• Net Profit Method
• Outflow of Cash
• Changes in Current Accounts
• Change in Current Liabilities

Cost Accounting

• Concepts of Cost
• Costing, Cost Accounting and Cost Accountancy
• Objectives of Cost Accounting
• Importance of Cost Accounting
• Scope of Cost Accounting
• Classification of Costs
• Cost Centre and Cost Unit
• Methods of Costing
• Techniques of Costing
• Difference between Financial Accounting and Cost Accounting
• Difference between Financial Accounting and Management Accounting

Product and Process Costing

• Process Costing Basics
• Product Costing
• Tracking Product Costs

Activity Based Costing

• Introduction
• Meaning of Activity Based Costing
• Basics of Activity Based Costing
• Distinction Between Traditional Absorption Costing and Activity Based Costing
• Objectives of Activity Based Costing
• Terminology of Activity Based Costing
• Stages in Developing Activity Based Costing System
• Different Types of Activities

Cost Volume Profit Analysis

• Cost–volume–profit (CVP) Basics
• Uses of Cost-Volume-Profit Analysis
• Cost-Volume-Profit (CVP) Analysis Assumptions
• Components of CVP Analysis
• Calculate a Cost-Volume-Profit Analysis
• Contribution Margin
• CVP Analysis and Decision Making

Budgeting

• Budgeting Basics
• Essentials of Budget
• Budget Types
• Budgeting Process
• Budgetary Control
• Functional Budgets
• Master Budget
• Fixed Budgets
• Flexible Budgets
• Zero-Base Budgeting
• Performance Budgeting
• Budget Variance

Standard Costing and Variance Analysis

• Standard Costing
• Variance Analysis Basics
• Material Variance
• Labor Variance
• Fixed Overhead Variance
• Budget Variance Analysis

Updated on 28 December, 2023