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.
- Financial Professionals, Finance Controllers, Treasurers, and Inventory Professionals.
- Senior Professionals with direct responsibility for financial management and control.
- Accountants, Sales, Purchasing Professionals, and those responsible for the relationship with banks.
- Any Professional, at junior or senior level, who is a part of the financial decision- building a team.
- New Interns and Trainees with finance-related responsibilities.
- Head of Departments, Process Owners, Administrative Personnel associated with budget management.
At the end of this course the participants will be able to:
- Understand current accounting issues.
- Understand the organization, reporting, and information management for financial controllers.
- Understand state-of-the-art statistical information techniques.
- Understand alternatives to standard A/R and A/P: purchase and sales order controls, EDI, and EFT systems.
- Understand alternatives to monthly close.
- Understand how financial controllers can set up a managerial information network.
- Understand dynamic planning, budgeting, and forecasting for financial controllers.
- Learning Objectives.
- Current Accounting Strategies.
- Information Flow Alternatives.
- Information as a Corporate Resource.
- Dynamic Planning, Forecasting, and Budgeting.
- Future Controllership Strategies.
Unit 1: 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
Unit 2: 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
Unit 3: 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 of Control and Automation
Unit 4: 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
Unit 5: 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
Unit 6: Delegation:
- Understand the Use of Statistics in Finance
- Learn the Techniques Used in Statistics in Finance
- Understand the Applications Best Suited for Statistical Techniques
Unit 7: 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