Course Details
Your Growth, Our Mission
Course Description
Financial Controllers operate in a global environment where flexibility is the watchword. There has been widespread recognition of the need for finance to develop from being a scorekeeper to a business partner. Many organizations have changed their finance function as a result. Non-financial objectives such as risk, IT ROI, quality, reliability, lead times and customer satisfaction have gained in importance. Much more attention needs to be paid to the external environment, particularly the business’ competitive advantage, applying a wider strategic perspective.
The Training Course Will Highlight ?
In this programmer you will learn how to:
- Identify alternative roles for controllers in complex organizations
- Clarify both technical, managerial and strategic implications of financial control
- Integrate new developments in strategic management accounting, information management and support for decision making
- Implement methods of change management in their organization
Training Objective
In this programmer you will learn how to:
- Identify alternative roles for controllers in complex organizations
- Clarify both technical, managerial and strategic implications of financial control
- Integrate new developments in strategic management accounting, information management and support for decision making
- Implement methods of change management in their organization
Target Audience
The training session is beneficial to all financial employees involved in the daily operation and control of financial functions and is of particular benefit to those employees who aspire to become senior personnel in their future careers.
Training Methods
This interactive Training will be highly interactive, with opportunities to advance your opinions and ideas and will include;
- Lectures
- Workshop & Work Presentation
- Case Studies and Practical Exercise
- Videos and General Discussions
Daily Agenda
DAY 1 - Introductions - The Controller’s Position
- The Controller’s status in the business
- Controllership functions
- Organizational relationships
- The controller’s role in management
- The changing nature of the controllership role: “Finance of the Future”
- Working capital and cash flow management
- Debtors
- Creditors
- Stocks/Inventory
- Releasing cash from the balance sheet
- Optimizing cash balances
DAY 2 - Cost and Management Accounting
- Introduction to Cost and Management Accounting
- Materials costs, Labor costs and Overhead costs
- Product cost determination
- Activity Based Costing (ABC)
- Activity Based Management (ABM)
- Product profitability and the cost of quality
- Theory of constraints
- Benchmarking
DAY 3 - Planning, Forecasting and Budgeting -
- Long term and short term planning
- Strategic planning with risk
- Budgeting and risk
- Traditional budgeting and Budgetary control
- Operational forecasting risk
- The Balanced Scorecard, Strategy Maps, Alignment
- Sources of competitive advantage
- Capital forecasting, capital budgeting and risk
DAY 4 - Advanced Budgeting
- Objectives of Advanced Budgeting CAM-I and the Beyond
- Budgeting Round Table
- Target Cost Management
- Value engineering
- Challenges
- Rewards
- Requirements
- Understanding target cost
- Implementation
DAY 5 - Management Decision Strategies
- Economic Value Added (EVA)
- Electronic Data Interchange
- Value Chain Analysis
- Total Life Cycle Costing
- Managing in a Time of Change
- Enterprise Risk Management (ERM)
Accreditation
BTS attendance certificate will be issued to all attendees completing minimum of 80% of the total course duration.
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