Description:
Executives and decision makers need to know what projects, processes, activities, and programs cost to make the best use of limited resources in achieving efficient and effective operations while promoting a performance accountability culture. This seminar is an essential overview for understanding and applying Activity Based Accounting to data driven planning and actions.
Who Should Attend?
All government (federal, DoD, state and local) executives, CFOs and resource managers charged with program performance planning and accountability for the best use of public funds.
Level:
Advanced
Tuition:
$579.00
Credits:
8.0 CPE
Class Type:
This course is currently being offered in the following training modalities:
- Online
- Activity Costing Executive Seminar on Performance Accountability - FINC9010A
- Class Length: This class is listed as a 2-day course.
- Activity Costing Executive Seminar on Performance Accountability - FINC9010A
- In-Person Classroom
- Activity Costing Executive Seminar on Performance Accountability - FINC9010D
- Class Length: This class is listed as a 2-day course.
- For in-person training sessions, participants are required to download the course materials to a personal device (e.g., laptop or tablet) and bring their device to class for use during classroom instruction.
- Activity Costing Executive Seminar on Performance Accountability - FINC9010D
- On-site
Learning Outcomes:
- Understand the application and requirements of Managerial Accounting.
- Learn about the mechanics of Activity Based Accounting and classification of costs.
- Recognize and avoid pitfalls misapplied costing approaches.
- Learn how to get started using Activity Based Costing in your organization.
- Applying Activity Based Costing to decisions and mission performance.
Course Outline
Hour 1 Getting Started
- Introductions
- Determine Specific Goals of Students
- Differentiate External Reporting from Managerial Accounting
- Define the Various Categories of Managerial Accounting
- Discuss Managerial Accounting’s Requirements: Usefulness, Credibility, and Affordability
Hour 2 The Mechanics of Activity Based Costing
- Differentiate Direct Costing, Allocation, and Guessing
- Define Cost Pools, Cost Objects, and Cost Drivers
- Teach Direct Simple Allocation Mechanics
- Practice Allocation Math
Hour 3 Pitfalls in Designing Activity Based Costing Approaches
- Discuss Importance of Selecting Good Cost Drivers and the Consequences of Bad Ones
- Wrong Driver Pitfall at Hypothetical Facility Cost Allocation Example
- Too Many Pools Pitfall through Fort Huachuca Example
- Ignoring Behavioral Implications Pitfall in Navy Patent Support Overhead Allocation
Hour 4 Other Allocation Considerations
- Level of Effort Example at IRS
- Step Down and Reciprocal Allocation Considerations
- Explore Misleading Managerial Accounting Issues
- Discuss Critical Criteria in Designing Managerial Accounting
Hour 5 How Can Activity Based Costing Benefit Your Mission?
- Using Activity Based Costing to Determine Cost Based User Fees
- Present and Discuss Application in FDA User Fee Determination
Hour 6 How Can Activity Based Costing Benefit Your Mission?
- Define the “Cost Managed Organization” and Costing’s Role in Cost Management
- Information Use in Cost Managed Organizations for After Action Cost Reviews
- Present and Discuss Application in Organization Based Control at Army Installation
Hour 7 How Can Activity Based Costing Benefit Your Mission?
- Define the Role Based Control Process for Managing Overhead and Support Functions
- Present and Discuss Application in Role Based Costing at Navy R&D
Hour 8 How Can Activity Based Costing Benefit Your Mission?
- Summary and Conclusions
- Solicit Students Take Aways and Discuss Their Applications of the Seminar
