Essentials of Developing Information for Management

6 Credits: Accounting


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Essentials of Developing Information for Management

Course Level
CPE Credits

6 Credits: Accounting

Course Description

The crux of effective accounting lies not just in crunching numbers, but in clearly communicating vital information to facilitate management decisions. This course, led by Steven Bragg, tackles the common problem of data overload and miscommunication in accounting departments. It agitates by highlighting the challenges of conveying complex financial data in a simplified, understandable format while also stressing the importance of cash protection, effective collection processes, and budgeting systems as spending controls. The solution emerges through learning techniques for distilling and delivering essential information, equipping participants with skills to enhance decision-making processes. This course is a must for accounting professionals keen on refining their communication strategies and playing a pivotal role in informed management decision-making.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • List a common line item found in a flash report
  • Specify when a rate variance may use a different designation
  • Define a volume variance in direct labor
  • Calculate selling price variance when given a set of variables
  • Name a possible cause of poor sales volume variance

Chapter 2

  • Cite a cause of material yield variance
  • State a way to eliminate the lag in the daily bank deposit due to cash application
  • Name a bank lockbox advantage and an alternative to it
  • Define remote deposit capture
  • Identify tasks that can be performed by online payment apps

Chapter 3

  • Identify issues that can be resolved with a courtesy call
  • Define the grace period
  • Cite an area where A-B testing is useful
  • Name a risk that results from freezing customer orders
  • Define a postdated check
  • Specify when to use the promissory note approach or file a claim in small claims court

Chapter 4

  • Identify the necessity for having different budget iterations
  • List ratios that help to enhance a budget model’s reasonableness
  • Cite an issue that may occur when changing from a material requirements system to a just-in-time system
  • Calculate direct material purchases
  • Specify when the crewing method would be used in budgeting
  • State expenses that are part of specific budgets

Chapter 5

  • Define constraint analysis and throughput
  • Name a reason that payback method is helpful for analyzing the capital budget
  • Cite why a post-installation review is conducted
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Course Specifics

Course ID
Revision Date
October 7, 2022

There are no prerequisites.

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …