In the present global competitive environment, CEOs of companies require a variety of strategic and operational decisions. Traditional Cost and Management accounting have not been in tune with the changes taking place in the international market.

Becoming a Certified Management Accountant means being a Certified World Class Professional who can combine and apply accounting expertise and acumen to the changing management practices in a wide array of business functions.

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The CMA Program is a globally recognized program of the Institute of Certified Management Accountants in Australia that designates the CMA title to the successful management professional.

For more information call:

QC :372-4563

Fax :373-2544

Becoming a CMA

Certified Management Accountants are financial management professionals who have gained the knowledge and skills necessary to provide analysis, evaluation and synthesis in the area of cost and management decision-making. Our program leads to the most respected and highly sought-after designation in business: the CMA.

CMA Program

The CMA Program is a globally recognized program of the Institute of Certified Management Accountants (ICMA) of Australia that grants the CMA designation to the successful management professionals here and abroad.

The CMA Program focuses on developing skills of analysis and evaluation in the area of strategic cost and management practices while learning the organizational decision-making and communication skills essential for today’s successful management professionals.

The CMA Program is designed to be equivalent to four (4) subjects at the first year master level of most Universities in Australia. Each subject in the CMA program will have a coursework component and a research component. Program moderators facilitate group discussions and provide feedback, enabling the CMA participant to take lessons learned immediately applicable the next business day.

The CMA Program is being offered in the Asia Pacific region such as Singapore, Malaysia, Indonesia, China, Hong Kong, Macau, India, Sri Lanka, Papua New Guinea, Lebanon and now the Philippines.

Program Requirements

The CMA Program is open to both Accountants and Non-Accountants. University graduates with accounting degree need to only two (2) subjects while non- accounting graduates need to do six (6) subjects.

Participants who have successfully completed the CMA Program need to have at least five (5) years of practical experience and pass the CMA exam in order to eligible as CMA member of the Institute of Certified Management Accountants of Australia.

Senior management professionals who have at least ten (10) years of practical experience can apply for CMA membership without examination after completing the CMA Program.

Practical Experience

Relevant experience in management accounting is broadly defined to include the gaining of experience in the provision of information in a wide range of managerial functions including costing, pricing, marketing, strategy, financial analysis, logistics, information systems, etc. Accounting compliance and taxation experience is specifically excluded.

Syllabus of the CMA Program

Subject One: ADVANCED MANAGEMENT ACCOUNTING

Topics Covered:

Management Control Systems
Production and Quality Management in Modern Firms
Cost Accounting and Cost Management in a JIT Environment
Management Accounting in Modern Firms
Benchmarking
Re-engineering with Activity Based Costing (ABC)
Customer Profitability Analysis
Process Control and Activity Based Management
Implementing Re-engineered Cost Analysis and Control System
Re-engineering Management Control System
Triple Bottom Line Accounting
Corporate Governance and the Management Accountant

Subject Two: ADVANCED STRATEGIC MANAGEMENT ACCOUNTING

Topics Covered:

Corporate Strategy in Modern Firms
Marketing and Strategic Management Accounting
Accounting for Marketing Product Management
The Management Accountant’s Role in the Pricing Decision
Financial Dimensions for Pricing in International Markets
Accounting for Promotion: Push Strategy
Accounting for Promotion: Pull Strategy
The Management Accountant’s Role in the Place-Distribution Decision
Performance and Strategic Financial Structures
Strategic Value Analysis
Corporate Radar and Early Warning Signs
The Balanced Scorecard

Our previous CMA Program was attended by CFOs, Finance Managers, Controllers and Corporate Planners of top organizations in the Philippines such as Unilab, GlaxoSmithKline, Pru Life of UK, Mapfre Asian Insurance, Vitarich, HSBC, Sun Life Financials, McDonalds, Jollibee, Sykes Asia, Universal Robina Corporation, Dow Chemical, Punongbayan and Araullo, ICTSI, Jardine Davies, iBank, BMW Philippines, Splash Corporation, Summit Media, Phlippine AXA Life, Bangko Sentral, Marsman Drysdale, DLSU, UAP, JG Summit Holdings, ING Bank, Publicis Manila and others. They became pioneer members of ICMA Philippine chapter. Be part of this elite group of world-class professionals!

Program Investment

The total investment for this event is Php 75,000.00, net of applicable tax, per person. The fee is inclusive of:

Seminar fee for 12-day sessions
Break snacks in between sessions
Learning materials in two binders (1,000 page) from Australia

INSTITUTE OF CERTIFIED MANAGEMENT ACCOUNTANTS

CMA 12-DAY INTENSIVE PROGRAM

TENTATIVE PROGRAM SCHEDULE:

DAY ONE Saturday 8:30am - 5:00pm

DAY TWO Saturday 8:30am - 12:30pm

DAY THREE Saturday 8:30am - 12:30pm

DAY FOUR Saturday 8:30am - 12:30pm

DAY FIVE Saturday 8:30am - 12:30pm

DAY SIX Saturday 8:30am - 12:30pm

DAY SEVEN Saturday 8:30am - 12:30pm

DAY EIGHT Saturday 8:30am - 12:30pm

DAY NINE Saturday 8:30am - 12:30pm

DAY TEN Saturday 8:30am - 12:30pm

DAY ELEVEN Saturday 8:30am - 12:30pm

DAY TWELVE Saturday 8:30am - 5:00pm

ADVANCED STRATEGIC MANAGEMENT ACCOUNTING

DAY ONE

Topic 1: Corporate Strategy in Modern Firms This topic overviews the concepts and development of strategic planning in modern business enterprises. The traditional areas of corporate strategy; such as mission statements, objectives, and strategic planning decision models are first introduced to the student. The state of strategic thinking in the current environment is then considered, especially in relation to strategic management information systems.

Topic 2: Marketing and Strategic Management Accounting Here the marketing concept is introduced and the links between marketing and strategic management accounting are illustrated. It is shown how concepts such as the product life cycle and product portfolio matrix are linked to managerial accounting techniques such as budgeting and life-cycle costing to provide relevant information for strategic decision making. Comprehensive Case Study on Accounting for Strategic Marketing: The Roxor Watch Company: Case Study Analysis and Group presentations

Topic 3: Accounting for Marketing Product Management This topic looks at the interface between management accounting and marketing related "product management" especially in competitive environments. The "product" is the first "P" in the 4-Ps of marketing, the others being price, promotion and place distribution, which will be discussed in detail in later topics. It is shown that as a product moves through various stages of its life-cycle, there are differing financial aspects that need to be focused on for competitive positioning. It is demonstrated that the company's management accountant possesses the tools and techniques required to provide the product managers with decision-orientated information.

DAY TWO

Topic 4: The Management Accountant's Role in the Pricing Decision Here the various aspects of pricing decisions are covered, especially in competitive environments. Pricing Methods and Pricing Strategies are specifically contrasted, and the use of such techniques as CVP analysis and linear programming in the pricing area are discussed. Risk averse pricing strategies and their limitations are also covered in this topic. Comprehensive Case Study on Accounting for Pricing: Case Study on Pricing: ePrecision Manufacturing Company

DAY THREE

Topic 5: Financial Dimensions of Pricing in International Markets This topic extends the discussion of the previous section on pricing, and considers within a competitive international market. It is shown that setting a selling price in a foreign market has, in addition to strategic marketing considerations, some unique international financial dimensions, especially due to the lengthening of the channels of distribution and the impact of multiple currencies.

Topic 6: Accounting for Promotion: Push Strategy Here the principal ways of communicating with the market, referred to collectively as the "promotional mix" are overviewed. The objective of this mix is to make a sale, either by "pulling" customers towards the product (using advertising) or by "pushing" the product to the customer (using personal selling). It is shown that the management accountant has a significant role "push strategy", especially in controlling field sales operations, and evaluating sales force performance.

Comprehensive Case Study on EmpeeThree, Inc.

DAY FOUR

Topic 7: Accounting for Promotion: Pull Strategy This topic continues with the discussion on promotion, and specifically looks at "pull strategy" with its heavy reliance on advertising. It is demonstrated that the management accountant has a significant role in formulating advertising budgets, especially using specific budget models, and in the difficult areas of controlling advertising outlays and evaluating advertising effectiveness.

Comprehensive Case Study on Accounting for Promotions:

Suave Case Study Analysis and Group Presentations

DAY FIVE:

Topic 8: The Management Accountant's Role in the Place - Distribution Decision This topic considers the last "P" of the 4-P's of marketing; i.e. place (or physical distribution). It is shown that the control of the distribution function involves a "trade-off" between maximizing customer service and minimizing distribution costs, and that the management accountant has a significant role to play in achieving this balance. The various accounting techniques useful in distribution cost analysis and control are highlighted in this topic.

Topic 9: Performance and Strategic Financial Structures

Financial Performance Indicators, especially the ROI measure is considered in depth, and cost of capital definitions and computations are evaluated in this topic. The impact of financial structure on planning performance evaluation is also considered, specifically capital structure and its role is obtaining an appropriate discount rate for capital projects. Exercises on Matlock Company and Miller Modigliani, Ltd.

DAY SIX

Topic 10: Strategic Value Analysis The use of "value-drivers" is considered in the linking of corporate strategy with financial performance measures. Aspects such as "free-cash flow"; "continuing value" and "business value" are specifically considered. Case Study on Strategic Value Analysis: The Rappa Port Authority

DAY SEVEN

Topic 11: Distant Early Warning Systems Short-term (weekly) and long-term (annual) corporate radar systems are considered, in order to determine the health of one's business organization. Bankruptcy prediction models (such as Z-scores) are specifically considered.

Case Study on Early Warning Systems: Maxwell Communications Company

Topic 12: The Balanced Scorecard

A "balanced" view of the corporate scorecard is considered, incorporating strategic and tactical; internal and external; financial and non-financial; and past and future oriented key-performance indicators.

ADVANCED MANAGEMENT ACCOUNTING

DAY EIGHT

Topic 1: Management Control Systems The role of accounting is often stated to be providing information for decisions. Management accounting, however, fulfils a much broader role in organizations. As well as providing a framework for planning, management accounting has an important role in management control. This topic introduces the concept of management control and considers the role of management accounting within such a control framework. The design of management accounting systems is also considered.

Topic 2: Production and Quality Management in Modern Firms This topic introduces the traditional production management techniques and strategies. The 5-P's of production are specifically considered; i.e. the product, plant, process, program, and people. The three traditional types of production; i.e. Job; Batch; and Flow production are also studied, and concepts such as quality and reliability are also introduced. Modern production management techniques originating from Japan, such as Flexible Manufacturing Systems (FMS); and Total Quality Management (TQM) are also considered. Case Study on Production and Quality: Clean Shaven Inc. Group Exercise on Production: Simulation of Production Function

DAY NINE

Topic 3: Cost Accounting and Cost Management in a JIT Environment This topic continues to look at production management techniques and strategies, especially the more modern production philosophies originating from Japan, such as Just-In-Time production (JIT). The strategic management accounting issues raised by such philosophies and techniques and aspects of the influence of the philosophy on production and purchasing are also covered. Case Study on Accounting for JIT Environment: Silicon Valley Computer

Topic 4: Management Accounting in Modern Firms This topic overviews the complexity that exists in modern industrial settings, and why the conventional management accounting techniques may provide misleading information in such environments. It is shown that indirect costs make up the largest percentage of total costs in such complex firms, and that there are many challenges in allocating such indirect costs. Methods of identifying "obsolete" cost systems and of improving cost control are also discussed.

Case Study on Target Costing: Phraud Car Parts Company

DAY TEN

Topic 5: Benchmarking This topic discusses in depth "benchmarking"; which is the formal process of measuring and comparing a company's operations, products, and services against those of top performers, both within and outside that company's primary industry.

Topic 6: Activity Based Costing This topic focuses on the principles of Activity Based Costing (ABC), which is shown as the response to the challenge of complexity. Aspects such as "volume", "structural" and "introductory" costs are specifically considered. Case study on ABC: The Mellow Company Case Study

DAY ELEVEN

Topic 7: Customer Profitability Analysis This topic moves the focus from analysis to action. Methods of finding profitable customers and products are considered, as is the area of account management

Case Study on Customer Profitability Analysis: Bills and Moon Co.

Topic 8: Process Control and Activity Based Management Here the areas of process control and activity based management are discussed. Monitoring systems, and the concepts of frequency, timeliness and accuracy are considered, especially in relation to white-collar departments. Case Study on ABM: Dilbert Laboratories

DAY TWELVE

Topic 9: Implementing Re-engineered Cost Analysis and Control Systems This outlines the implementation process of activity based costing. Behavioral aspects, especially in creating motivation are discussed. Long-term cost management models are also considered. Case Study on ABC Implementation: Oakley Paints

Topic 10: Re-engineering Management Control Systems Strategic approaches such as "product differentiation" and "cost leadership" are considered in re-engineering management control systems especially via the linking of overall performance to financial and non-financial measures.

Topic 11: Triple Bottom Line Accounting Triple bottom line accounting is changing the way organizations go about their business. This topic explores what is meant by the "triple bottom line" and what it means for organizations, now and in the future.

Topic 12: Corporate Governance: The Role of the Management Accountant This topic overviews the corporate governance structure which specifies the distribution of rights and responsibilities among different participants in the corporation, such as, the board, managers, shareholders and other stakeholders, and spells out the rules and procedures for making decisions on corporate affairs.