Mini MBA: Accounting & Finance
Overview
Finance is a core process/function in business that requires executive attention. Accounting is the language of business; understanding and applying this language to your business in general remains the single most valuable competence of management. Professionals need to enhance their personal competence in identifying best practices in finance and in accounting, to benchmark financial and analytical skills in a complex and changing environment. This Finance & Accounting training course, based on Mini-MBA concept, focuses on world-class companies and their finance function and accounting processes to show participants which elements have achieved best practices status, enabling them to remove much of the mystique associated with the management of finance and accounting.
Objectives
Identify best practices for the roles of CFO, controller, treasurer, and accountants in the content of, and relationships between, financial statements (income statement, balance sheet, and statement of cash flows) Discuss best practices in the use of financial statements to evaluate the financial/strategic performance of an organization Understand best practices in discounted cash flow (DCF) techniques and their application to financial decision-making Identify best practices in corporate performance management using key success factors, weak financial signals, and strong financial signals in various industry sectors Understand best practices in how EVA (Economic Value Added), SVA (Shareholder Value Added), and RI (Residual Income) can be used to value competing strategies Define best practices in the value creation/destruction process in mergers and acquisitions from the market perspective and signals to management from the market Clarify best practices in the roles of directors, auditors, and others in their respective roles in corporate governance Identify best practices in the various sources of financial and business data that provide insights into business and financial strategies Identify best practices in the details of financial control, risk management, and financial reporting from the perspectives of the internationally recognized professional associations
Audience
Anyone who wishes to reinforce their knowledge of financial and accounting function/processes
Methodology
The Finance & Accounting Mini MBA training course uses a range of approaches to learning, including experiential group activities, individual exercises, mini-case studies, role plays, and syndicate discussions. Formal inputs are used to introduce the underpinning theory. A key part of the learning process is sharing the differing experiences participants bring, as well as experimenting with novel and sometimes challenging techniques.
Outline
Day 1 – Foundations of Financial Management The role of financial leadership: CFO, Treasurer, and Controller Interaction between functional management and financial management Overview of basic financial statements and their interrelationships Evaluating performance: ROI as a starting benchmark Competitive perspectives in interpreting financial statements Best practices in preparing, presenting, and analyzing financial reports Identifying key success factors across industry sectors Key takeaways and lessons learned Day 2 – Strategic Insights from Financial Statements Tools for evaluating short-term performance and success measures Detecting weak signals for future strategic adjustments Investment decisions: buy, sell, or hold Best practices in reviewing financial results versus targets Effective financial performance measurement systems Identifying and validating key accounting assumptions Linking business systems to financial outcomes Key takeaways and lessons learned Day 3 – Annual Reporting, Disclosures, and Governance Best practices in annual reporting under GAAP, IFRS, and other frameworks The role of regulatory bodies and social responsibility policies Reconciling multiple accounting standards in reporting Corporate governance: balancing shareholder and stakeholder value Benchmarking through industry reports, external reviews, and analyst insights Enhancing board of directors’ financial literacy Measuring and benchmarking shareholder value Key takeaways and lessons learned Day 4 – Financial & Industry Analysis with Balanced Scorecard Leveraging financial ratios for sectoral and industry analysis Treasury management benchmarking: cash, FX, working capital, and CAPEX Controllership best practices: planning, cost management, and profitability analysis Value creation through the controllership function Integrating non-financial inputs into financial performance Best practices for cash-to-capital cycles and sector exit strategies Advanced costing methods: activity-based, time-based, and competence-based costing Key takeaways and lessons learned Day 5 – Advanced Decision-Making and Financial Modeling NPV as the ultimate decision criterion Benchmarking the use of real options in financial decisions Communicating financial insights effectively to executive stakeholders Demonstrating next-generation financial modeling techniques Challenging the finance function to adopt best practices Applying best practices in your company and market context Developing personal learning plans for continuous improvement Key takeaways and lessons learned