This course invites Dr. Alan Parkinson, the well-known professor of University College London, to be the honorable lecturer on presenting the impacts of the changing world on finance function, and raising the response of finance function to the external influences. Alan will also guide the finance executives to utilize ‘DMAIC Principle’ (Define, Measure, Analyze, Improve, and Control) for optimizing company’s finance process. This course will help companies create values from customers’ perspective and implement effective financial reform for enhancing competitive advantages.
Knowing current worldwide changes and their major influence on finance function
Understanding the finance function solutions for coping the changes and the development tendency of finance accounting
Learning ‘DMAIC Principle’ for optimizing the finance process
Strengthening data mining and acknowledgement
Building partnership between finance and management level
Enhancing value creation from customers’ perspective
CFO
Finance Director
Chief Accountant
Finance Manager
Finance/ Accounting Personnel
Day 1
- The implications of a changing world for the Finance function
- Tasks of Accountants
- Changes in The Organisational World
- Manual Workers vs Knowledge Workers
- The Impact on the World of Accountants
Finance in the Future
- The Shift in Focus within Finance
- Better Performance Through Better Finance Support
- Finance and IT Interfaces
- Changing Information Demands
Improve the Finance process: Inputs into Outputs
- ‘Business Partners’
- ‘Lean’ methodology
- Undesirable effects (UDE’s)
- Force field analysis
Balanced scorecards
- BSC KPIs
- BSC Mechanisms
- Practical Application
- Advice For Successful Implementation
- The Efficiency/Effectiveness Matrix
Key performance indicators
- Measuring Efficiency, Effectiveness, Economy
- The 3Es&VFM
- Holistic Measures
- The Efficiency/Effectiveness Matrix
Day 2
USING BUDGETS TO MANAGE AND PLAN:Beyond Conventional Budgeting
- STRATEGIC CORPORATE PLAN
- Budget Relationships(based on commercial business)
- Traditional Budgeting
- Playing Games with the Budget
- The Hockey Stick
- Influencing behaviorthrough responsibility accounting
- The Utility of Budgets
From ‘Old’ to ‘New’ Budgeting
- Alternative Business Structures
- Six Principles of Devolved Leadership
- Unsuitability of Budgets
- Six Adaptive Processes
Thoughts about costs
- Another Way of Looking at Costs
- Full Costing
- Contribution Costing‘Contribution Significance’ in Your Area
- Activity Based Costing and Illustration
- Cost Pools
Variances from Budgets
- Making Sense of Budget Variances
- Investigating Variances
