Course Overview
This advanced course for financial controllers emphasizes just-in-time information, dynamic budgeting and forecasting, statistical applications and the use and control of financial information.
Course Objective
Current accounting issues
Organization, reporting and information management for financial controllers
State-of-the-art statistical information techniques
Alternatives to standard A/R and A/P: purchase and sales order controls, EDI and EFT systems
Alternatives to monthly close
How financial controllers can set up a managerial information network
Dynamic planning, budgeting and forecasting for financial controllers
Who Should attend?
Vice presidents of finance, financial controllers with at least two years of controllership experience, treasurers, chief accountants ,financial employees
Course Outline
Learning Objectives
Get the Techniques to Translate Corporate Strategies into Workable Budgets and Operational Plans
Step into an Important New Corporate Role: Growth Manager
Improve Decision Making in the Face of Uncertainty
Control Costs and Deploy Resources More Effectively
Become an Active Participant in Strategic Planning
Current Accounting Strategies
Understand Management Accounting
Analyze the Relationship of Management Accounting and GAAP Accounting
Develop and Learn the Flow Concept of Information
Review the Flows of Information in GAAP Accounting
Understand the Eleven Information Segments Required
Understand Accounting’s Position in Current Organizations
Understand the Changes in Approaches to A/P and A/R
Understand the Relationship of the Various Segments of Business to the Controller
Realize the Power Position of Information
Information Flow Alternatives
Understand the Flow Control Related to the Procurement Function
Determine the Controller’s Relationship in Controls and Processes
Understand the Three Flows and Their Relationship to the GL Process
Learn the Use of EDI and EFT Processes
Discuss A/R and the Evolution to Control and Automation
Information as a Corporate Resource
Understand the Role of Information in the Modern Organization
Learn the Evolution of Information Processes
Understand the Position of Information Resource Centers in the Organization
Understand the Use of Relational Database Techniques
Dynamic Planning, Forecasting and Budgeting
Develop the Process of Objective Setting and Relate That to Planning
Learn the Flow Process of Forecasting and Budgeting
Understand Approaches to the Budgeting Process
Understand the Process of Dynamic Use of Information
Understand Dynamic Planning, Forecasting, and Budgeting Using the Internet
Delegation
Understand the Use of Statistics in Finance
Learn the Techniques Used in Statistics in Finance
Understand the Applications Best Suited for Statistical Techniques
Future Controllership Strategies
Discuss Future Strategies for Controllership
Analyze the Changes in Information Strategies
Grasp the Implications of Change on the Controllership Function
Understand the Opportunities Provided by the Changes
Realize the Power Position of the Controllership Process
Consider Future Strategies in Relation to Current Operating Position
Training Methodology
Presentation & Slides
Audio Visual Aids
Interactive Discussion
Participatory Exercise
Action Learning
Class Activities
Case Studies
Workshops
Games & Role plays
