Basic Set of Management Accounts November 2024

Available from

25 November, 2024

CPD

Course Category:

Management Accounting

Level:

Moderate

The purpose of the webinar on Basic Set of Management Accounts is to provide CIBA members with a clear understanding of the essential components and structure of management accounts. November 2024

Not Available

Product Information

What you will learn

Attending this webinar will equip you with the following skills:

Understanding Management Accounts:

What management accounts are and their importance in business decision-making.

Differences between management accounts and statutory financial statements.

Key Components of Management Accounts:

Income statement (profit and loss statement).

Balance sheet (statement of financial position).

Cash flow statement.

Variance analysis and comparison against budgets.

How to Prepare Management Accounts:

Gathering relevant financial data.

Structuring and presenting the information clearly and accurately.

Importance of consistency and standardization.

Using Management Accounts for Decision-Making:

How to analyze financial information to support business strategy and operations.

Identifying key performance indicators (KPIs) to monitor and improve performance.

Using management accounts for cash flow forecasting, cost control, and performance tracking.

Best Practices and Common Pitfalls:

Tips on maintaining accuracy and relevance in management accounts.

How to avoid common mistakes in compiling and interpreting the accounts.

Tailoring Management Accounts for Different Stakeholders:

- - - Customizing the presentation of management accounts for various users (management, shareholders, investors).

Description

Unlock the power of financial insight in our dynamic 1-hour webinar on the Basic Set of Management Accounts! Perfect for CIBA members, this session will teach you how to create and analyze management accounts that drive smarter business decisions. You’ll learn to master essential reports like income statements, balance sheets, and cash flow statements, and discover how to use them for effective budgeting, cash flow forecasting, and performance tracking. With practical tips, real-world examples, and insider tricks, this webinar will empower you to take control of your financial reporting and elevate your decision-making skills. Don’t miss out—level up your financial expertise!

Information

Format: Recording of Online Live Streamed event
Recording: Loaded to your CIBA Academy profile

Price

This event is free to attend

Content

The webinar will cover the following topics: 

- - - 1. Welcome and Introduction
      - Overview of the session.
      - Purpose and learning objectives.
      - Brief introduction to management accounts and their significance.
      1. Key Components of Management Accounts
      - Income Statement (Profit & Loss Statement): Structure and insights for decision-making.
      - Balance Sheet (Statement of Financial Position): Understanding the financial health of a business.
      - Cash Flow Statement: Tracking the flow of funds and ensuring liquidity.
      - Variance Analysis: Comparing actuals to budgets for better financial control.
      1. Preparing Management Accounts
      - Step-by-step guide on gathering data and compiling the basic reports.
      - Tips for ensuring accuracy and consistency.
      - Practical examples of management account preparation.
      1. Using Management Accounts for Business Decisions
      - How to interpret management accounts to support business strategy.
      - Identifying and using Key Performance Indicators (KPIs).
      - Case study: Using management accounts for performance tracking and forecasting.
      1. Best Practices and Avoiding Common Pitfalls
      - Tips for ensuring relevance and accuracy in reports.
      - Common mistakes and how to avoid them.
      1. Q&A and Closing Remarks
      - Open floor for delegate questions.
      - Key takeaways and closing thoughts.

Certificate

The following CPD is awarded 2 Units Business Education – Management Accounting.

1 unit for 1-hour CPD webinar

1 unit for assessment completed

Requirements

There are no preconditions for this course.
Moderate level.
Recorded webinar made available on a specified date.

Presenter

Leana van der Merwe

Leana van der Merwe is a Chartered Accountant and Registered Auditor with over 18 years of experience in business accounting, auditing, and corporate governance. She has held key leadership roles throughout her career, including as an Audit Director at RSM South Africa and as a Technical and Standards Executive within the professional body space at SAIPA. At RSM, Leana played a crucial role in driving audit excellence and managing international engagements across various sectors, while at SAIPA, she was instrumental in guiding over 14,000 members through complex regulatory environments and leading significant industry initiatives.

Leana’s expertise extends to her active participation in several prestigious committees, such as the PAFA Technical Advisory Group, the IFAC Anti-Money Laundering Committee, and the IFRS Foundation’s SME Implementation Group, where she has significantly influenced legislative commentary and stakeholder engagement on both local and international stages.

Currently, Leana serves as an Independent Contractor, engaged by the Chartered Institute of Business Accountants (CIBA) in their Technical, Education, and Professional Development units. In this role, she continues to drive innovation and excellence, providing critical support and insights to professionals in the accounting sector. Leana is a sought-after speaker and thought leader, recognized for her strategic vision, transformative leadership, and commitment to advancing the profession.

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