Management Accounting for Decision Making

12 & 19 November 2024

This program is about cost analysis methods used for short- and medium-term decision-making. It includes issues related to risk and uncertainty, as well as behavioral considerations in decision making.

Learning objectives

  • Research and use data from a range of sources to make decisions.
  • Make decisions based on facts, common sense and previous experience.
  • Explain the reasoning behind decisions made.
  • Assess and lead decisions in high-risk situations.
  • Understand who are the key stakeholders and their behavioral traits.

 

Additional information

Target audience

  • CFOs, finance business partners, financial managers, financial analysts, management accountants.
  • Non-financial managers across all functions and business units.

Timing and delivery

Training date (2 workshops):  12 & 19 November 2024 

Duration: 8 hours - from 9:00 to 13:15 CET
(including one 15-minute break)

Format: Open training, LIVE/Online

Language: English

We also offer this course in a closed form, tailored to the needs of a given client.

Training program

The training program below is a sample and can be modified to meet the unique business needs of the organization.


Decision making
process
 
  • Decision criteria: profit-based versus value-based.
  • Data collection for decision making purposes.

 


Cost concepts
used for 
decision making

  • Fixed and variable costs.
  • Relevant and non-relevant costs.
  • Avoidable and unavoidable costs.
  • Opportunity costs.
  • Calculation of relevant costs: materials, labour, equipment.

 


The main types of
decisions made by organisations 

  • Minimum pricing (maximum discount) decisions.
  • Accept or reject an order decisions.
  • Shutdown decisions: deleting a segment or temporary closure.
  • Limiting factor decisions.
  • Make or buy (outsource) decisions.
  • Joint products and further processing decisions.

 


Dealing with risk
and uncertainty in decision making

  •  Expected values.
  • Standard deviations.
  • Decision trees.
  • Real options.
  • Maximax, maximin and minimax regret rules.

Heuristic decision
 making
  • Cognitive errors.
  • Emotional biases.

Organisational information

Price

350 EUR + VAT

Date

12 & 19 November 2024 (2 workshops)

Duration

8 hours - from 9:00 to 13:15 CET (including one 15-minute break)

Format

Open training, LIVE/Online

Language

English

Kapcsolat

Katalin Szilágyi

PwC's Academy leader, PwC Hungary

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