Measurement & Evaluation Of The Efficiency Of The Accounting & Financial Performance Using The Balanced Scorecard (BSC)

Course Code: FA27

►Course Objective


  • Understand the Finance and Accounting jargon
  • Learn Costing and Budgeting Terminologies used in business
  • Determine full costs of outputs for the goods and services provided
  • Master traditional techniques and recent best practices
  • Link Finance and Operation for Budgeting Purposes and Strategy Execution
  • Learn How to Build a Comprehensive Performance Measurement System


►Target Audience


  • Financial Professionals, Finance Controllers Treasurers and Inventory Professionals
  • Senior Professionals with a direct responsibility for Financial Management and Control
  • Accountants, Planners, & Cost Professionals
  • Any professional who has responsibility for any portion of the planning process
  • Any professional, at a medium and senior level, who is a part of the financial decision making team
  • New interns and trainees with finance related responsibilities


►Course Outline



Management and Financial Accounting: Key Concepts and Terminologies

  • Identify the Major Differences and Similarities between Financial and Managerial Accounting
  • Understand the Role of Management Accountants in an organization
  • Linking Strategy to Planning and Costing
  • The Key Role of Budgeting and Cost Control in contemporary organizations
  • Towards a Cross-Functional Process-View of the organization
  • Understand your Processes: Integrating Financial and Non-financial aspects
  • Understanding the Financial Statements
  • Video, Examples & Discussions



Cost Analysis

  • What is Costing?
  • Cost Concepts and Terminology
  • Different Costs for Different Purposes
  • Fixed vs. Variable Costs: The Cost-Volume-Profit Analysis Model
  • Contribution Margin Analysis
  • Manufacturing vs. Non-manufacturing Costs
  • Period vs. Product costs: Inventory Evaluation and Control
  • Case Study



Traditional vs. Advanced Techniques in Cost-control

  • Under-costing and Over-costing: The Consequences for Profitability
  • How to refine a Costing System?
  • Indirect vs. Direct Costs
  • Traditional Cost Allocations Systems vs. Activity-Based Costing
  • Cost Hierarchy & Cost Drivers
  • Linking Resources, Activities and Management
  • Introducing Activity-Based Budgeting and Management
  • Video, Case Study and Examples



Budgeting: Flexible Budgets and Variance Analysis

  • The Role of Budgeting
  • Define the Master Budget and explain its major benefits to an organization
  • Describe the Difference between a Static Budget and a Flexible Budget
  • Compute Flexible-budget Variances and Sales-volume Variances
  • Discuss the Behavioral implication of Budgeting
  • The Budgeting Process in your organization: How to improve it?
  • Which tools shall we use to complement Budgeting and Costing?
  • Problems, Case Study and Exercises



Measuring Corporate Performance: The Balanced Scorecards and Six-Sigma

  • Broadening Performance Measurement Systems
  • The Key Role of Customer Satisfaction and Business Process Re-engineering
  • Beyond Budgeting: Integrating Financial and Non-financial Issues
  • Introducing the Balanced Scorecard
  • The Key Perspectives
  • Introducing the Strategy Maps
  • Introducing Six-Sigma
  • Video, Case Study and Examples

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Date & Location

Date : 19 January 2020

Duration : 5 days

Place : Istanbul

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Date : 20 September 2020

Duration : 5 days

Place : Kuala Lumpur

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