Masterclass in Financial Control (In-House)
LEORON Professional Development Institute
Course description
Masterclass in Financial Control (In-House)
The MFC program is the “controlling” module of the masters series in administering business organizations. It focuses on the tools to management in directing and controlling the activities of a business to determine whether targets are being met within acceptable risk parameters.
This is a “nuts and bolts” course which begins with an examination of (short-term) working capital management covering how to right size and monitor working capital and tackling credit controls. We review the process of “managing the numbers”, that is, the more traditional approach using the analysis of financial results and the use of ratios as a control tool.
The program then pushes into more pro-active managerial tools reflecting cutting edge organizations that are results orientated: standard costing, relevant costing and cost behavior are examined with a view to achieving the most effective budgetary planning and variance analysis processes. Activity-based costing and Beyond Budgeting are compelling examples of the more pragmatic and practical approach to planning and controlling.
A key part of the course is the focus on how successful companies focus on EVA (economic value added) and how to use EVA to practically assess the value that a business is creating of their business and how they design and implement appropriate KPI (key performance indicators) and OKR systems (objectives and key results). The course incorporates how to consider and implement more recent trends in the applications of using blockchain as an effective control tool.
Who should attend?
Who Should Attend?
This highly practical and interactive course has been specifically designed for
- Directors and Senior Officers
- Heads of Finance
- Chief Accountants
- Financial Controllers
- Management Accountants
- Managers Responsible for Controlling Cost
- Internal Auditors
Training content
Day 1
- Course Background and Overview
- The Modern Accountants Role
- Working Capital Management
- Application of Advanced Ratio Analysis
Day 2
- Application of Advanced Ratio Analysis (continued)
- Effective use of DuPont Analysis as a Control Tool
- How Your Bank Assesses & Analyzes Credit Risk
- Review of Costing Concepts
- Relevant Costing in Decision Making
Certification / Credits
Key Takeaways
Take-away toolbox of the “how to do” techniques in effective cost control
- Getting the right level of working capital coupled with effective monitoring and controlling this critical component of a company’s resources
- Application of advanced ratios to identify problems in an early stage and how to take effective action
- Mechanisms to link long-term corporate goals to short-term target-setting
- Getting the buy-in of staff: mastering the link between corporate culture and effective controls
- The course is supported by a series of case studies led by a course director with years of experience. His examples are thought provoking and elicit a significant amount of group discussion, so Participants learn the “how to”. This is not an academic course.
Why choose Leoron?
LEORON has worked with some of the largest companies in the World - but importantly we care about the individual. Through our Customer Happiness Team we ensure that everyone who attends a LEORON course has the support before, during and after to ensure their training needs are met.
We offer the highest level of training delivery, whether that be in our live-virtual training or in-classroom sessions, with our expert instructors guiding you through everything so that you’re left feeling assured and confident to utilize your new knowledge going forward.
About Leoron
LEORON Professional Development Institute
LEORON is the fastest growing global training institute in the World, having evolved over the past 11 years into a dominant training institute that offers a comprehensive set of training and development solutions to both individuals and businesses. Our locations...
