Course Objectives

• Identify best practices for the roles of CFO, controller, treasurer, & accountants in the content of, & relationships between, financial statements (income statement, balance sheet, & statement of cash flows)
• Discuss best practices in the use of financial statements to evaluate the financial / strategic performance of an organization
• Underst& best practices in discounted cash flow (DCF) techniques & their application to financial decision-making
•   Identify best practices in corporate performance management using key success factors, weak financial signals, & strong financial signals in various industry sectors
• Underst& best practices in how EVA® (Economic Value Added), SVA (Shareholder Value Added), & RI (Residual Income) can be used to value competing strategies
• Define best practices in the value creation/destruction process in mergers & acquisitions from the market perspective & signals to management from the market
• Clarify best practices in the roles of directors, auditors, & others in their respective roles in corporate governance
• Identify best practices in the various sources of financial & business data that provide insights into business & financial strategies
• Identify best practices in the details of financial control, risk management, & financial reporting from the perspectives of the internationally recognized professional associations such as IFAC, IASB, SEC, OECD, & others
• Enhance personal networks of similarly minded high potential managers

Who Can Benefit

• Financial & non-financial managers who wish to test their high performance   & high potential knowledge, skills, & attitudes with other similar individuals will find Best Practices attractive
• Functional managers who have recognized their need for a bigger picture & a more integrative financial view will benefit from Best Practices
•   General Managers who wish to reinforce their knowledge of financial functions/processes will find added value in Best Practices

Course Outline

• Getting started with best practices in finance & accounting
  • The role of financial management – CFO, Treasurer, & Controller
  • The role of functional management in respect to financial management
  • The basic financial statements & their articulation
  •   Evaluating performance & why ROI is still a good place to start
  • Competitive perspectives related to financial statements
  •  Best practices in preparing, presenting, & populating financial statements
  •  Identifying key success factors in industry sectors
  •   Deriving lessons learned from Module one
•  Best practices in early review & projections of strategy via financial statements
  •  Short-term success evaluations process & measures
  • Weak signals for future strategic adjustments
  •   Buy, sell, or hold investments
  •  Best practices in financial review compared to targets & expectations
  • Financial performance measurement systems
  •   Best practices in finding & using key accounting assumptions
  •  Compare business system to financial results
  •  Deriving lessons learned from Module two
•  Best practices in annual reports, footnotes and corporate governance
  •  Best practices in annual reports using GAAP, IFRS, or other st&ards
  • Role of exchange commission's & social policy
  • Best practices in reconciling accounting st&ards & reporting
  • Best practices in examining corporate governance & shareholder value as well as stakeholder value
  •  Benchmarking external reviews, industry reports, & analyst reports
  • Best practices in boards of directors & their move to financial literacy
  • Benchmarking shareholder value measures
  • Deriving lessons learned from Module three
• Best practices in industry / financial analysis and balancing the scorecard
  • Best practices in asking financial managers to guide the underrating of an industry sector with ratios & other financial statements
  •  Benchmarking treasury management –cash, forex, working capital, & Capex
  • Best practices in controllership – planning, control, costing, & profitability
  •  Benchmarking value creation from the controllership function
  •  Finding best practices in non-financial inputs to financial statements
  •  Learning best practices for the cash to capital to cash (Karl Marx) & how to leave an industry sector
  •   Activity based costing, time-based costing, & competence based costing & financial analysis
  •   Deriving lessons learned from Module 4
•  Best practices in net present value thinking & next generation financial modeling
  • Best practices in NPV as the ultimate decision criterion
  • Benchmarking the use of real options as a next generation best practice
  • Presenting & communicating to executive audiences the best practices in finance & accounting
  •   Demonstrating next generation model building
  •  Challenging the finance function to best practices
  •  What applications of lessons learned in Best Practices in Finance & Accounting are applicable in your company & in your markets
  • What personal learning plans have been made to continue Best Practices in Finance & Accounting

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