School of Financial Training - free course from the Russian School of Management, training, Date: September 9, 2022.

Expert, consultant. Certified internal auditor. Honorary member of the International Compliance Association. Experience in retail and FMCF as Head of the Internal Audit Service and Financial Director - more than 18 years.

Teacher, consultant. Member of the Institute of Internal Auditors. Author of programs and courses on topics related to risk management, anti-corruption policy and economic security.

Ph.D., associate professor, trainer-consultant on management and financial planning. Has extensive experience in leadership work. Author of teaching aids.

Organization of financial, economic and accounting services
• Financial, economic and accounting service: structure, role and place in the company. Signs and causes of ineffectiveness.
• Workshop: Analysis of the reasons for the inefficiency of the financial, economic and accounting services in the company. Making management decisions. How many accountants, financiers, and economists does a business need?
• Functions and products of financial, economic and accounting services. What and for whom are we creating? Methods for assessing the quality and “usefulness” of financial and accounting services products. Assessing the quality of management reports.
• 10 main areas of optimization. Complex application of “simple” methods. Development and implementation of document flow regulations: why does the document not always work?
• Optimization of numbers and selection of personnel. Evaluating the effectiveness and ensuring the efficiency of the service. Methods for estimating time to perform functions.
• Optimization of business processes of financial, economic and accounting services. Implementation of optimized functional matrices: basic conditions. Project implementation: goals, deadlines, interaction between managers.

Effective budgeting system
• Assessing the effectiveness of the budgeting system. What to do when budgeting is ineffective.
• Approaches to the formation of a financial structure using examples of companies in various industries.
• The essence and stages of building a company's budgeting system.
• Effective practical budgeting techniques.
• Special budgeting tools. Budgeting bodies.
• Software selection.
• Regulation and automation of the budgeting system.
• Main alternatives to budgeting: balanced scorecard, early indicator system, risk management.
• Material incentives as part of the company's motivational policy. Financial incentive schemes.

Management of risks
• Risks in modern business. Qualitative and quantitative understanding of risks. The positive and negative side of forecasts. Managing flexibility (reactive and proactive).
• Business process risks and asset risks. Classification of assets for risk purposes.
• Risk management culture. Evolution of the risk management system. Major business failures caused by inadequacy of risk management systems.

Development of new approaches to risk management regulation.
• Risk map as a tool for risk analysis and control. Examples of mapping for various industries. Risk register of a manufacturing company.

Compiling a database of risk events that have occurred.
• Development of a risk management strategy.
• Anti-risk measures: passive and active.
• Internal control. Coso model.
• Financial risks. Exchange rate volatility. Risks in global financial systems. American and European attitudes towards risk control measures. Tighter regulation.
• Risk assessment. Quantitative risk analysis. Risk analysis, their prioritization. Diversification of risks.
• Risk and return. Risk statistics. Beta coefficient. Risk-free return. CAPM model.
• Process risk management with analysis of consequences and causes.

Liquidity management. Working capital
• Working capital management.
• Lack of working capital and overstocking. Control over inventory turnover.
• Cash flow management.
• Bank lending and financial risk management.

Management accounting: practice of application
• Concept, types and place in the economic system of the company.
• Objectives of management accounting.
• Basic components of a management accounting system.
• Interface of management accounting systems with the accounting system. Management accounting technology.
• Documentation in management accounting.
• Creation of an adequate reporting system.
• Creation of internal regulations governing management accounting.
• Control over management accounting.
• Ways to improve the efficiency of the management accounting system.
• Why is management accounting a CFO's problem? Automation.

Treasury system: organization, automation and functions
• Organization and functions of the treasury system in the company.
• Treasury is a tool for effective management of company funds.
• Who is the treasurer? The relationship between the treasurer and the cash manager and financial director. Sample job description form.
• Key functions of the treasury.
• Is the treasury department a profit center or a cost center?
• Problems of implementing cash management systems and advantages of controlling their movement.
• Organization of treasury in holding companies.
• Internal treasury: methods of redistributing resources between holding units.
• External treasury: methods of organizing work in financial institutions.
• Who makes sense to implement treasury?
• Where to start implementing treasury?
• Stages of work on setting up intra-company budgeting.
• The place of cash budget in the system of intra-company budgeting.
• Methodology for preparing a cash flow statement.
• Monetary base of the cash flow statement. Does the treasurer need a cash flow statement?
• Key points of the balance sheet and income statement for ODDS.
• Techniques for preparing cash flow statements using direct and indirect methods in accordance with international standards (IFRS-IFRS).

Cost management
• Cost management and business efficiency
• Levels of cost management
• Cost classification
• Product costing
• Cost management and operational management decisions
• Cost optimization methods

Financial model
• Management Accounting.
• Unit economics.
• Three main forms of financial model.
• Profit and loss statement (P&L).
• Revenue.
• Costs (fixed and variable, direct and indirect).
• Objectives of the OPU.
• Filling out and maintaining the Operating Procedures.
• Profitability.
• Types of profit.
• Filling examples.
• Balance sheet (BB).
• Balance goals.
• Assets and liabilities.
• Liquidity.
• Filling examples.
• Cash Flow Statement (CFS).
• ODDS objectives.
• Financial planning.
• Payment schedule.
• Operating activities of the company.
• Investment activities of the company.
• Financial activities of the company.
• Filling examples.
• ROE is the main indicator for the owner of the company.
• Typical errors.
• Templates, examples, formulas and their analysis.
• Recommendations and life hacks from personal experience.

Controlling
• Controller as corporate navigator and economic conscience.
• “Second” opinion, a system of organizational balances and the “4 eyes” principle. The controller is like a corporate navigator, co-pilot and economic conscience.
• Options for organizational design of controlling. Separation of the functionality of the controller and financial director. "Deadly sins" of the controller. Modern requirements for controller competencies.
• Features of controlling in different corporate cultures. Command&Control or Self-Organizing System? Organizational “substitutes” for the control function.
• Management by goals and benchmarks.
• Visualization and “digitization” of business strategy: finance - clients - processes - personnel. “Control panels” for owners, for the general director, for key (functional) managers.
• System of control indicators (KPI) – strategic and operational levels. Decomposition of goals and indicators: company – division – position.
• Management accounting and reporting.
• Ratio (numbers) and Emotio (visualization) in management reporting.
• Financial responsibility centers (cost centers – profit centers – service centers) and internal prices.
• Assessing the profitability of products and customers (product-customer matrix).
• Flexible budgeting.
• Beyond Budgeting is an alternative to traditional budgeting.
• “Rolling” and flexible budget. Corporate system of norms and limits.
• Soft skills of the controller.
• Communication of the controller with managers and colleagues of various psychotypes.

Business value management and valuation of small and medium-sized businesses in Russia
• The concept of business value. Definition. The concept of cost-based management. Basic concepts.
• Eighteen factors for creating and increasing business value for Russian small and medium-sized businesses.
• Business valuation. Income, cost and comparative approaches to business valuation. Assessment methods within each approach.
• Specifics of company valuation in Russia
• Typical reasons for selling a business. Psychology of a business seller as an important factor in negotiations.
• Sale of a business as one of the stages of the company's strategy.
• Procedure for selling a business. Expertise of business as a subject of sale. Pre-sale preparation. Search for a buyer. How to search and find a business buyer? Types of buyers. Channels of communication with customers - advertising, direct sales, etc. Preparing for the deal. Deal.
• Legal registration of purchase and sale transactions for small and medium-sized businesses. Financial settlements within the framework of purchase and sale transactions of small and medium-sized businesses.