Course Objectives

• Scan the overall environment of accounting and finance in the 21st Century
• Establish criteria to separate latest only from the best practices
• Identify International Accounting Standards topics and issues
• Recognize future of disclosures in a global environment
• Use financial analysis to assess strategic alternatives

Who Can Benefit?

• Financial staff involved with or who interface with the finance and accounting functions and who want to review best contemporary accounting practice and be aware of the upcoming techniques in financial, treasury and management accounting

Course Outline

• Introduction
  • The state of accounting today
  • Précis of the issues facing accountants world-wide
  •  Increased visibility of the profession
  •  Role of chief accounting officer / CFO
  • Leadership of CFO
  •  Essential knowledge base and techniques for accountants
  •  Next generation accountants and financial managers
  • Introduction to the integrating case study
• International Accounting Standards
  •  The place of accounting standards
  •   Disclosures matching internal processes
  •  The practical effect of standards
  • Project resources needed
  •  Review of the latest standards
  • Likely effects of next generation standards
  •  Specific examples of latest reporting under IAS
  •  The future of standards
• Financial Reporting
  • Financial reporting issues - ever more disclosure
  •  Reporting in real time
  • Continuous reporting and continuous auditing
  • Developing best reporting practice
  • Information architecture and systems to support continuous reporting
  • Interpretations needed in real time
  •  Intangibles and future elements in the reports
  •  Case study
• Financial Statement Appraisal
  •  The power of analytical review
  •   DCF NPV lives forever
  • Traditional ratios - their uses and limitations
  •  Comparative analyses
  •  Ever more ratios - the latest techniques
  •  Economic Value Added reported
  •  Connecting external reporting with internal decision making
  •   Case study
•   Performance Measurement - The Entire Business
  •  Overall analysis for value creation
  • Balanced Scorecard systems as an example
  • The process and collecting data
  •  Finance is basis and linking pin for all analyses
  •  Benchmarking across industries
  •   Sharing learning with knowledge management
  • Comparative studies
  •   Case study

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