Chief Financial Officer

Programme

The company's financial director

• Role functions: top manager, controller, treasurer, head of investment projects, head of corporate finance
• Options for building the finance and economics function
• The financial director's relations with the CEO and the company's owners
• The tree of strategic financial goals
• The strategic goal map maximising company value, building «trees» of value drivers

The company and the external financial market

• Areas of interaction between the company and the financial market
• The impact of a crisis on internal management processes
• Specifics of working with banks and other types of investors during a crisis

The company's financial statements

• Financial statement formats. Key financial statement indicators
• Overview of the possible goals and objectives of financial analysis. Content of the analysis depending on the analyst's goals and position

Classic financial analysis of the company's external statements

• Main analysis methods. Main groups of financial ratios and indicators. Possibilities and limitations of classic ratio-based financial analysis
• Financial analysis from the creditor's / borrower's point of view. Liquidity (various approaches), solvency, financial stability. The financial leverage effect
• Financial analysis from the owner's point of view. Return on equity. The systems approach to financial ratios. Factor financial analysis, «profitability trees»
• Main financial planning models. Building a short- and medium-term cash flow budget by the direct and indirect methods, advantages and disadvantages
• Financial analysis of the forecast financial position. Balance of the financial plan. Visualising financial analysis and budget execution control

Practical assignments

Making short-term financial decisions

• Working capital management. The production and financial cycles as indicators of the company's working capital management policy. Analysing the company's costs of financing the financial cycle
• Inventory management: main tasks, accounting for and valuing material costs, planning material requirements, optimal order quantity. Control systems
• Cash flow analysis methods. Cash flow management. Ensuring the required level of liquidity
• Receivables management, monitoring and control
• Shaping the trade credit policy

Structure and cost of sources of capital

• Optimising the weighted average cost of capital
• Determining the optimal capital structure

Risk management

• Classification of risks. Financial risks
• Objectives of risk management
• Risk management tools
• Qualitative and quantitative characteristics of risks
• The risk management system

Practical assignments

Modern management accounting systems

• The concept of «management accounting», its place in the company's information system
• What a management accounting system can and should do
• Using the BSC and KPI toolkit when setting up management accounting systems

Budgeting objectives and components

• The role of budgeting in company management. Goals and objectives of budget management. Causes of ineffective budgeting
• Linking the company's strategic and tactical goals as a necessary factor in effective budgeting

Modern trends in budgeting