6 Credits: Accounting
Communication drives the success or failure of an accounting department. Essentials of Developing Information for Management teaches you techniques for providing timely, accurate information, which allows management to make effective decisions.
Instructor Steven Bragg helps you identify which items are significant and teaches you how to simplify and pare down the information you provide. You’ll learn the essential nature of protecting cash, a universally desirable, fungible, and easily concealed asset; the way to have an effective collection process; and how to set up and use a budgeting system as a key spending control.
Developing information and assisting management in making decisions is the crux of the accountant’s job; this course expertly covers the major aspects of developing information for management. Everyone in the accounting department will benefit from the useful, practical advice contained in Essentials of Developing Information for Management.
This course covers material also contained in Accountants’ Guidebook.
Upon successful completion of this course, participants will be able to:
- 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
- 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
- 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
- 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
- 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
October 7, 2022
There are no prerequisites.
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 250 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 …