Strategic Management Accounting

The need for advanced management accounting practices has never been more critical. To be successful, management accountants must develop a diverse skillset and shift their mindset from transactional to transformational. This seminar provides the practical tools for strategic management accountants to add value to their organisation in the current business environment. It provides the opportunity for enhancing management accounting skills in a range of areas. From planning, budgeting and forecasting, strategy and KPIs, financial decision making and the fundamentals to step up as a commercial business partner.

Content

• The processes of strategic analysis and strategy generation.
• The influence and impact of the external environment on strategy.
• Value chains and product portfolio management.
• Key considerations in and impacts of organizational change.
• Ratios to assess profitability, financial performance, financial position and financial adaptability.
• The strategic impact of changes in capital structure.
• Sustainability and integrated reporting.
• The development of financial strategy, including methods of debt and equity financing, M&A and divestments.
• Pricing structures and the bidding process.
• Organizational risk and mitigation strategies.
• Strategic, operational and financial risks that arise from international operations.
• Financial risk and mitigation strategies.
• Risks of unethical behaviour and poor governance structures.

Learning Outcome

• Evaluate the process, tool and techniques of strategy formulation and implementation.
• Evaluate the influence of key external factors on organizational strategy.
• Evaluate the information systems requirements for successful strategic implementation.
• Identify the important elements, tools and methods in the change process.
• Recommend change leadership processes in support of strategy implementation.
• Evaluate strategic financial management policy decisions.
• Evaluate the value of entities and the opportunities for acquisition, merger and divestment.
• Evaluate the types of risk facing an organization and recommend appropriate responses (strategic, operational, financial, ethical).
• Evaluate risk management strategies and internal controls.
• Evaluate the tools and processes required for strategy implementation.
• Evaluate control systems for organizational activities and resources.
• Evaluate the risks associated with corporate governance.
• Evaluate the risks arising from changes in the environment for capital investment appraisal.

Who should attend

• Financial and non-Financial managers from all functions of an enterprise, operational and production managers, marketing managers, managers with direct financial responsibilities, executives, cost and management accountant, financial planners and cost analysts, senior managers who supervise people with financial responsibilities, and financial and budget controllers who are moving to wider responsibilities.
• First appointment managers on fast-track development programmes.
• Managers who require a refresher programme on the topic or who would benefit from having an opportunity to consider new ideas and methods.