Course Methodology

This courses focuses on exercises, case studies, Excel workshops, and individual and group presentations.

Course Objectives

By the end of the course, participants will be able to:

• Identify the main responsibilities handled by financial controllers
• Describe the different financial statements used in their organizations
• Analyze company performance highlighting impact of current operations on future financial results
• Evaluate and present company budgets and assist management in selecting proper plans
• 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

Target Audience

Financial controllers, chief accountants, finance or accounting managers, supervisors, staff accountants, general ledger accountants and any professional in accounting and finance who wish to upgrade their skills as well as prepare themselves to assume the responsibilities of a financial controller.

Target Competencies

• Financial accounting and reporting
• Financial statements analysis
• Budgeting and process improvement
• Excel functions and tools

The main responsibilities of financial controllers

• Accounting and reporting responsibilities
• Budget reporting and analysis
• Managing finance and accounting staff
• Evolving role of financial controller

Accounting and reporting

• Overview of the main International Financial Reporting Standards (IFRS)
• An inside look at the key financial statements
• Statement of financial position
• Statement of comprehensive income
• Statement of cash flows
• Statement of changes in owner equity
• Key Performance Indicators (KPIs)
• Supporting bottom-line focus
• Month and year end close: Controller as a project manager

Financial statements interpretation and analysis

• Key tools in analysis
• Building block of ratios
• Liquidity ratios
• Solvency ratios
• Activity and investment ratios
• Profitability ratios
• Going beyond numbers reporting
• Excel techniques used in presenting analysis to management

Budget reporting and analysis

• The budget as an added value activity
• Evaluating the budget and highlighting objectives
• Presenting budget to top management
• Preparing meaningful actual versus budget reports

Control function

• Structure of internal controls
• Setting and updating policies and procedures
• Assessing internal control policies
• Internal controls on financial reporting
• System controls
• Backup and disaster recovery planning
• Ethical considerations

Boosting efficiency in your department

• It’s all about Excel
• The 10 must have Excel tips
• Working with text files
• Looking up records from a database
• Validating data and controlling data input
• Reconciliations and accounts analysis using pivot tables
• Creating management reports and dashboards
• Personal organization and time management
• Monitoring staff efficiency to support the accounting close
• Tools to increase staff productivity
• Managing staff skills and attitudes