A Professor explained Marketing to MBA students

1. You see gorgeous girl in party, you go to her & say I am rich marry me.
That's Direct Marketing.

2. You attend party & your friend goes to a girl & pointing at you tells her. He'
is very rich, marry him -That's Advertising.

3. Girl walks to you & says u are rich, can u marry me ?
"That's Brand Recognition"

4. You say I m very rich marry me & she slaps u.
"That's Customer Feedback"

5. You say I m very rich marry me & she introduces you to her husband
"That's Demand & Supply Gap"

6. Before you say I m rich, marry me, you wife arrives That's Restriction from
Entering New Market

Introduction to Management Accounting

 

We begins by distinguishing between accounting, management accounting, financial accounting and cost accounting.

It then touches on information; explains the attributes of good information and the importance of information.

It also explains the management process, decision making process and decision making environment.

DEFINITION OF KEY TERMS

Accounting is the process of identifying measuring and communicating economic information to permit informed judgments and decisions by users of information.

Management Accounting is the process of identification, measurement accumulation, analysis, preparation, interpretation and communication of financial information used by management

to plan, evaluate and control within an organization and to ensure appropriate use of and accountability for is resources.

Financial Accounting is the process of measuring, classifying, summarizing and reporting financial information used in making economic decisions. It’s also concerned with the preparation of financial statements to be used by the firm’s stakeholders.

Cost accounting is the process of cost ascertainment and cost control. It is a formal system of accounting by means of which cost of product and services are ascertained and controlled.

Information is anything that is communicated and is sometimes said to be processed data. It’s data processed in such a way as to be of meaning to the person receiving it.

Management process involves planning, organizing, controlling, directing, communicating and motivating.

Decision making  is the process of choosing among alternatives.

FINANCIAL ACCOUNTING, MANAGEMENT ACCOUNTING AND COST ACCOUNTING

Accounting is the process of identifying measuring and communicating economic information to permit informed judgments and decisions by users of information.

It is therefore concerned with providing information that will help decision makers make good decisions.

To understand accounting one must understand:

•             The attributes of good information

•             Process of measuring and communicating information

•             The decision-making process

•             Users of information

•             The above points are briefly discussed below:

Users of information

The users of information can be divided into two:

•             Internal users who are parties within the organization e.g. the management or the employees.

•             External users who on the other hand, are parties outside the organisation e.g. the shareholder, creditors, government, customers, etc

From the users point of view accounting can be divided into two:

Certified Procurement and Supply Professional of Kenya (CPSP-K)

PREAMBLE

The CPSP - K curriculum/exam is designed to equip learners with knowledge, practical skills and attitudes that will enable them perform duties as buyers, supply chain managers, supervisors directors, or consultants for an organization. To achieve this, modules such as Costing and Budgeting, Finance, Leadership, Governance and Project Management are incorporated into the curriculum, in addition to core Supply Chain Management modules. The program comprises four parts including a research paper, and has been benchmarked to international curriculum and practice standards.

CERTIFIED PROCUREMENT AND SUPPLY PROFESSIONAL OF KENYA (CPSP-K)

COURSE DESCRIPTION

The Professional Course in Supply Chain Management is packaged into four (4) Parts namely:

Certified Procurement and Supply Professional part 1

Certified Procurement and Supply Professional part II

Certified Procurement and Supply Professional part III

Certified Procurement and Supply Professional part 1V

The course is concerned with the application of procurement and supply principles and solving supply chain challenges in a dynamic environment.

GENERAL OBJECTIVES OF THE COURSE

By the end of the course, the trainee should be able to:

(a)    Appreciate the importance of Procurement and Supply in an organization

(b)   Execute procurement and supply process in an organization

(c)    Apply ICT in Procurement and Supply process in an organization

(d)   Effectively manage procurement and supply finance risk and documentation

(e)    Establish procurement and supply Audit Framework

(f)    Demonstrate knowledge and advice on mitigation of emerging issues in Supply Chain Management

(g)   Appreciate the legal aspects in Supply Chain Management

(h)   Apply appropriate decision making tools in Supply Chain Management

(i)     Manage Procurement Projects

(j)     Apply research methodology principles, processes, theory and models in organisational problem solving.

(k)   Practice as a supply chain specialist/consultant.

DURATION OF THE CPSP - K PROGRAMME

The course is designed to be covered in 1,250 hours.

EXAMINATION SCHEDULE

In every year, examinations will be conducted in the periods:

May/June

November/December

EXAMINABLE UNITS:

CERTIFIED PROCUREMENT AND SUPPLY PROFESSIONAL PART I

PL1.01 Organizational Environment

PL1.02 Procurement of Goods, Services and Works

PL1.03 Procurement Planning

PL1.04 Supply Chain Management Information Systems

PL1.05 Contract Law and Negotiation

PL1.06 Finance for Procurement

CERTIFIED PROCUREMENT AND -SUPPLY PROFESSIONAL PART II

PL2.01 Supply Chain Management for SMEs

PL2.02 Procurement Costing and Budgeting

PL2.03 Procurement of Consultancy Services

PL2.04 Procurement Audit and Risk Management

PL2.05 Quantitative Techniques

PL2.06 Category Management

CERTIFIED PROCUREMENT AND -SUPPLY PROFESSIONAL PART III

PL3.01 Sustainable Procurement

PL3.02 International Procurement

PL3.03 Logistics and Inventory Management

PL3.04 Research in Procurement

PL3.05 Operations Management

CERTIFIED PROCUREMENT AND -SUPPLY PROFESSIONAL PART IV

PL4.01 Procurement Governance

PL4.02 Strategic Supply Chain Management

PL4.03 Procurement Leadership

PL4.04 Project Management

PL4.05 Public Private Partnerships (PPPs)

PL4.06 Research Project in Procurement and Supply

ENTRY REQUIREMENTS

A person seeking to be registered as a student for the CPSP examination must show evidence of being a holder of one of the following qualification

(a)    Pass in APS (K), or

(b)   Degree from a recognized university, or

(c)    KCSE C+ (plus) with minimum C+(plus) in English and in Mathematics, or

(d)   Kenya advanced certificate of education (KACE) with at least TWO principle passes and credits in Mathematics and English at Kenya certificate of education  )KCE)

(e)    Equivalent qualifications as determined by Kenya institute of Supplies Management (KISM).

ANNUAL REGISTRATION RENEWAL

a.       Validity of student registration is one calendar year from January to December. Students must renew registration annually by filling examination entry / annual registration form (CPSP/APS/2) and submitting the form to the designated KISM receiving office in Nairobi or to a designated KASNEB or KISM representative in locations outside Nairobi, in accordance with instructions on the Student Registration form.

b.      Any student who fails to renew the studentship registration within three years will be required to pay registration re-instatement fee and all the annual registration renewal arrears.

EXAMINATION ENTRY

(a)    Registered students who wish to take the examinations must submit the prescribed entry forms, duly completed together with the appropriate examination fee on or before the dates. The closing date for the receipt of entries for the December examinations is the preceding 15th August and for the June examination the preceding 15th February.

(b)   Late entries may be accepted upto one month after the closing date for the normal entries on payment of late entry fee which is an additional 50% of the normal examination entry fee.

(c)    Examination dates and list of examination centres are supplied with the examination entry form. Information on the examination dates and examination centres is also available on the KISM and KASNEB websites; www.kism.or.ke and www.kasneb.or.ke.

Associate IN Procurement and Supply of Kenya (APS-K)

PREAMBLE

The course is intended to equip the trainee with knowledge, practical skills and attitudes that will enable him/her perform procurement and supply functions in an organization. A graduate of this course will be able to work as a salaried employee or in self-employment. To achieve this objective, units such as Law; Communication, ICT and Office, Management; Quantitative Skills, Accounting; and Entrepreneurship have been included, in addition to the core units.

COURSE DESCRIPTION

The Associate in Procurement and Supply is packaged into two (2) Levels namely:

1.0 Associate in Procurement and Supply Level I

2.0 Associate in Procurement and Supply Level II

The course is concerned with the implementation of procurement and supply policies/procedures/strategies and solving related challenges in a dynamic environment.

GENERAL OBJECTIVES OF THE COURSE

By the end of the course, the trainee should be able to:

Understand the role played by the Procurement and Supply department in an organization

(a)    Understand the role played by Procurement and Supply department  in an organization

(b)   Communicate effectively when carrying out Supply Chain  Management activities

(c)    Appreciate the impact of the environment in the purchasing and supply function.

(d)   Recognize and apply ICT skills in supply chain management.

(e)    Appreciate the emerging trends and issues in procurement and supply management

DURATION OF THE APS-K PROGRAMME

The course is designed to be covered in 500 hours (1 year).

EXAMINATION SCHEDULE

In every year, examinations will be conducted in the periods:

•May/June

•November/December

ASSOCIATE IN PROCUREMENT AND SUPPLY LEVEL I

AL1.1 Principles of Procurement and Supply

AL1.2 Supply Markets

AL1.3 Introduction to Business Law

AL1.4 Supply Chain Management

AL1.5 Entrepreneurship and Business Ethics

ASSOCIATE IN PROCUREMENT AND SUPPLY LEVEL II

AL2.1 Stores and Distribution

AL2.2 Procurement and Supply Relationships

AL2.3 Contract Administration

AL2.4 Quantitative Skills

AL2.5 Communication and Office Management

ENTRY REQUIREMENTS

A person seeking to be registered as a student for the APS examination must show evidence of being a holder of one of the following qualifications:

(a)Kenya Certificate of Secondary Education (KCSE) examination with an aggregate average of at least grade C plain, or

(b)Equivalent qualifications as determined by Kenya Institute of Supplies Management (KISM

ANNUAL REGISTRATION RENEWAL

(a) Validity of student registration is one calendar year from January to December. Students must renew registration annually by filling Examination Entry/Registration Renewal form (CPSP/APS/2) and submitting the form to the designated KISM receiving office in Nairobi or to a designated KASNEB or KISM representative in locations outside Nairobi, in accordance with instructions in the  form.

(b) Any student who fails to renew the studentship registration within three years will be required to pay registration re-instatement fee and all the annual registration renewal arrears.

EXAMINATION ENTRY

(a)    Registered students who wish to take the examinations must submit the prescribed entry forms, duly completed together with the appropriate examination fee on or before the specified dates. The closing date for the receipt of entries for the December examinations is the preceding 15^th August and for the June examination the preceding 15th February.

(b)   Late entries may be accepted upto one month after the closing date for the normal entries on payment of late entry fee which is an additional 50% of the normal examination entry fee.

(c)    Examination dates and list of examination centres are supplied with the examination entry form. Information on the examination dates and examination centres is also available on the KISM and KASNEB websites; www.kism.or.ke and www.kasneb.or.ke

WITHDRAWAL FROM THE EXAMINATION

Application for withdrawal must be accompanied by a letter quoting the student’s registration number, preferred examination center and reason(s) for withdrawal. Students who withdraw from the examination before the closing date specified for late entry are entitled to a refund of 50% of the examination entry fee paid. Students who withdraw on account of illness are entitled to a refund of 75% of the examination entry fee paid, subject to production of an authentic medical certificate covering the examination dates.

DEFERMENT OF EXAMINATION FEES

A student shall be allowed to defer examination fees to the subsequent examination sitting only once in any particular part upon application and providing sufficient reason(s) for deferment. The successful applicants shall be required to pay an administrative charge equivalent to 15% of the applicable examination fees thirty days prior to the examination period, failure to which the opportunity granted for deferment will lapse.

ABSENTEEISM FROM EXAMINATION

A student absent from an examination will forfeit the examination entry  fee paid.

Additional information on APS-K examination is available from:

(a)    KISM offices

(b)   KASNEB offices

(c)    Kenya National Library Services (KNLS) branches countrywide

(d)   Training institutions

(e)    KISM and KASNEB websites

FEE

APS Registration 5,000

APS Late Registration 7,200

APS Reinstatement 4,000

APS Renewal 1,200

APS Level I 2,200

APS Level II 3,200

CPSP Registration 5,500

CPSP Late Registration 8,000

CPSP Reinstatement 5,500

CPSP Renewal 1,500

CPSP Part I (per paper) 2,500

CPSP Part II (per paper) 3,500

CPSP Part III (per paper) 4,000

CPSP Research Paper 15,000

Exemption CPSP Part I 3,750

Exemption CPSP Part II 5,250

Exemption CPSP Part III 6,000

*Late examination entry attracts an additional 50% of the normal entry fee.

*No exemptions at APS Levels and at CPSP Part IV

CERTIFIED PROCUREMENT AND SUPPLY PROFESSIONAL OF KENYA (CPSP-K)