Training Course on Organizational Financial Controls

Financial controller are charged with responsibilities of managing accounting and monitoring internal controls in organizations. Financial Controller operates 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. This training course on organizational financial controls aims to recognize the extent of change in the role of financial controllers and to focus on the areas of their organization where change is required, use the information sources within their organization to assist the management process, prepare for the introduction of advanced methods of information management, and understand the role of advanced budgeting and where it might fit into their organization.

Training Schedules per Continent

Africa    (7)Asia      (4)

America (5)Europe (3)

Target Participants

This training is designed for professionals with direct or indirect financial and accounting responsibility within a team, department, or division. The training is also ideal for managers and individuals who handle budgetary, operational and strategic plans.

What you will learn

By the end of the course the learner should be able to:

• Recognise the extent of change in the role of financial controllers and to focus on the areas of their organisation where change is required
• Identify the main responsibilities handled by financial controllers
• Practice some of the key skills required using Excel to boost the efficiency of accounting and finance work
• Assess internal controls within the finance department and the organization in general
• Integrate new developments in strategic management accounting, information management and support for decision making
• Implement methods of change management in their organisation
• Use the information sources within their organisation to assist the management process
• Critically assess the planning process in their organisation and participate fully in strategic planning
• Integrate new developments in strategic management accounting, information management and support for decision making

Course duration

5 days

Course Outline

The Main Responsibilities of Financial Controllers

• Accounting and Reporting Responsibilities
• The Controller’s Role in Management
• The Controller’s Status in the Business
• Budget Reporting and Analysis
• Managing Finance and Accounting Staff
• Evolving Role of Financial Controller

Control Function

• Structure of Internal Control
• Setting and Updating Policies and Procedures
• Assessing Internal Control Policies
• Internal Controls on Financial Reporting
• System Controls
• Backup and Disaster Recovery Planning

Cost and Management Accounting

• Introduction to Cost and Management Accounting
• Materials Costs, Labour Costs and Overhead Costs
• Product Cost Determination
• Activity Based Costing (ABC) and Activity Based Management (ABM)
• Product Profitability and the Cost of Quality
• Theory of Constraints

Planning, Forecasting and Budgeting

• Long Term and Short Term Planning
• Strategic Planning, Budgeting and Risk
• Operational Forecasting Risk
• The Balanced Scorecard, Strategy Maps, Alignment
• Sources of Competitive Advantage
• Capital Forecasting, Capital Budgeting and Risk

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)