ACPM: Management accounting
The certification program in management accounting and budgeting "ACPM: Management accounting" is dedicated to building an effective financial management system in the company. It paves the way of development in finance for specialists who have not previously worked with management accounting. For those who already have some experience in this field this program allows to systematize knowledge.
It is suitable for employees of financial-economic and accounting services, financial directors, business owners.
Also this program designed for other specialists who want:
- to master financial planning, forecasting and financial analysis for making management decisions;
- to learn how to manage the company's financial indicators and influence its economic results.
Requirements for candidates
The certification program provides advanced training. Therefore, to pass it, a primary education in the field of accounting or finance is necessary.
- The nature of management accounting.
- Classification of costs for decision-making.
- Understanding the essence, tasks and components of the management accounting system.
- Knowledge of types of expenses.
- Mastering the models and methods of calculating the cost of production.
- Cost management concept. Cost behavior.
- Cost-volume-profit analysis. Break-even point.
- The ability to calculate cost price.
- Break-even analysis.
- Managerial format of the profit and loss statement.
- Analysis of the sales structure and profitability of certain types of products.
- Knowledge of the algorithm for compiling the Profit and Loss Statement (P&L) for the purpose of management accounting.
- Analysis of the report for management decision-making.
- Analysis of sales profitability.
- Setting pricing objectives.
- Mastering pricing methods.
- Budgeting; types of budgets; general (master) budget.
- Responsibility centers.
- Understanding the concept of budgets and their types.
- Factor analysis of cost by cost items.
- Accounting by responsibility centers
- Financial control: financial performance indicators.
- Financial control tools: flexible budget and transfer pricing
- Knowledge of the main financial indicators and the ability to analyze the condition of the company based on them.
- Understanding what flexible budgets are and how they are controlled.
- Understanding transfer pricing mechanisms and factors affecting it.
- Segment reporting.
- Management control: non-financial performance indicators.
- Knowledge of the role and procedure of segment management reporting.
- Understanding the correlation between financial and non-financial indicators.
- Development of the management control system: a balanced system of activity indicators.
- Knowledge of the goals and composition of the development of a balanced scorecard.
- Using financial analysis within the framework of a balanced scorecard.
Skills after completing the program
As a result of preparation for the "ACPM: Management accounting" diploma exam, the candidate has the following knowledge and skills:
- Cost management using modern approaches.
- Application of various pricing methods. Analysis of sales profitability in order to optimize the assortment.
- Calculating the cost of goods and services.
- Creation of a budget management system for the company. Formation of the financial structure and budget model of the company.
- Planning and forecasting of income and expenses. Use of alternative approaches to budgeting.
- Control of the company's financial results using management accounting tools.
- Using financial and non-financial indicators to evaluate the company's activity.
- Accounting for financial responsibility centers using transfer pricing and reporting tools.
- Implementation and using a balanced system of indicators of the company's activity.
Exam and diploma
Knowledge control takes place on an online exam. The official "ACPM: Management accounting" diploma exam is held monthly according to the schedule. Registration is required to participate in it.
The exam consists of a test and a practical part. The total duration of the exam is 3 hours. The passing score is 60 (maximum score - 100 points).
The exam is conducted by administrators, and the completed assignments are checked and graded by ACPM-accredited instructors.
The exam result is sent by email after 2-3 weeks. If a passing score is 60 or above, the ACPM International Diploma is sent electronically with the results.More about ACPM diplomas