CIMA P2 “Business Performance Management”. Level 1 - course 41,990 rub. from Specialist, training 36 academic hours, date of May 29, 2023.
Miscellaneous / / December 03, 2023
This course is aimed at training financial and economic specialists in competencies in the field of management accounting with taking into account international requirements and approaches currently widely used in Russian management practice business.
This course is part of the CIMA course system, focused on comprehensive training of specialists in order to obtain the international CIMA Certificate “Performance Management business", issued by the International Association of Management Accountants CIMA (Chartered Institute of Management Accountants), whose headquarters are located in London.
The course program corresponds to the training program developed by the International Association of Management Accountants CIMA and includes 2/3 of the examination program for the qualifying exam in the subject P2 “Performance Management business."
The course is intended for students starting training in the CIMA P2 subject “Business Performance Management” and includes the following main sections of the subject:
- planning and cost analysis to strengthen competitiveness,
- cost management and budgeting,
- monitoring and evaluating the performance of companies with several divisions.
The course is recommended for practicing economists, financial managers (analysts), financial controllers, management accounting specialists, managers financial and economic departments, financial directors, directors of economics and finance, as well as heads of departments and enterprises supervising financial and economic areas.
At the end of this course, students will receive basic knowledge and competencies in the field of international management accounting (managerial level), which they can immediately implement at practice both in terms of business management, and will also feel the strength and desire to fully study the subject P2 “Business Performance Management” for the purpose of entering an external qualification exam.
You will learn:
- build a value chain for new products, reduce costs and set target prices during the product life cycle, choose effective marketing strategies;
- analyze factors affecting the cost of products in order to reduce costs without losing the quality and consumer properties of products;
- evaluate individual functional properties of the product in order to increase consumer value;
- manage costs based on the principle of continuous improvement; prepare reports on quality costs;
- reengineer business processes; identify actions that do not create additional value for the product; reduce costs of unproductive processes;
- combine the principles of organizing production according to the concept of “just in time” (JIT), total quality management and the theory of constraints;
- determine the profitability of customers, distribution channels and conduct profitability analysis;
- anticipate adverse consequences in terms of “over-fulfilling the budget” and budget manipulation; determine target (financial and non-financial) budget indicators to increase the level of motivation;
- form a balanced system of score cards (BSC);
- assess the activities of enterprises with several divisions; calculate key indicators for assessing financial consequences, including profitability ratios, liquidity, - asset turnover, return on investment, residual income and economic Additional cost;
- apply different approaches to transfer pricing depending on the specific situation; assess the impact of transfer prices on the company’s performance;
- conduct economic assessment and selection of investment projects based on NPV and IRR indicators.
Module 1. Cost planning (3 ac. h.)
- Life cycle cost accounting
- Targeted cost management
- Cost analysis
- Functional analysis
Module 2. Cost analysis (4 ac. h.)
- Process-oriented management (ABM).
- Profitability of products, customers and sales channels.
Module 3. Cost management methods (2 ac. h.)
- Modern business environment
- Just-in-time management system
- Total Quality Management (TQM)
- Accounting for transmittance and theory of constraints
- Kaizen costing
- Business process reengineering (BPR)
- Supply chain management
- Value chain
Module 4. Budgeting (alternative performance indicators) (4 ac. h.)
- Behavioral aspects of budgeting and budget control.
- Non-financial performance indicators.
- Non-profit organizations.
- Benchmarking.
- Balanced scorecard.
- Sources of business information.
Module 5. Assessing the effectiveness of companies with several divisions (7 ac. h.)
- Responsibility centers, accounting by responsibility centers
- Calculation and evaluation of key performance indicators
- Reports for decision making (visualization tools)
Module 6. Pricing issues (4 ac. h.)
- Pricing strategies and decisions
- Demand curve and profit maximization
- Pricing methods
Module 7. Transfer pricing (6 ac. h.)
- Transfer pricing
- International transfer pricing
Module 8. Making investment decisions (6 ac. h.)
- The process of making and implementing investment decisions (model of making investment decisions; time value of money and discounting; net present value NPV; internal rate of return IRR; annuities)