MBA Expert: Finance - free course from the Russian School of Management, training 250 hours, Date: December 5, 2023.

MBA teacher at Russian School of Management. Developer of digital transformation programs, designer of complex social systems. Organizational designer, systems engineer.

MBA teacher at Russian School of Management. Organizational psychologist, expert in personnel training and development, building management teams.

ACCA, MBBA, practicing auditor, specialist in tax, financial, management consulting, business coach

Practicing auditor, business coach, member of the Moscow Chamber of Auditors, Institute of Internal Auditors, Chamber of Tax Consultants of Russia.

Organization of financial, economic and accounting services
• CFO of the new era - how we make decisions and what they should be like in our organization.
• Financial and economic service – structure, goals, role and place in the organization.
• Functions and products of financial and economic service departments – what and for whom we create in order to benefit the organization.
• Fundamentals of Internal Control – an effective tool for managing the organization’s activities (COSO Model).
• Fundamentals of Risk Management – ​​creating and protecting organizational value: COSO ERM 2017 and ISO 31000:2018.
• Fundamentals Compliance is the basis for the success and sustainable development of an organization and ethical business conduct (ISO 37301:2021).
• Basics of Corporate Fraud – how not to lose what we create.
• Cycles of accounting operations and components of working capital - business process diagrams, internal control systems and management systems, fraud risks, compliance and ethics of business relations.
• Effective communication - why it is important for financial, economic and accounting services and other departments of the organization. Financial service employees – what competencies they need.
• Basics of the Balanced Scorecard – how to use indicators to manage a company and its divisions.

Effective budgeting system
• Implementation of a budgeting system in the company. General budgeting cycle.
• Budget structure of the company. Financial Responsibility Centers (FRC).
• Step-by-step implementation of a budgeting system in the company. Budget analysis techniques.
• General budget structure of a manufacturing and trading company.
• Application of Unit economics in the development of budgets.
• Application of Direct-costing methodology in budgeting.
• Formation of a budget for income and expenses using the reverse method.
• Identification of infrastructural limitations of the business development model.
• Formation of a cash flow budget.
• Determination of the profit zone during budgeting.
• Formation of a forecast balance.
• Regulations for operational budget planning

Working capital management
• Improving company efficiency through working capital management.
• Analysis of the efficiency of using the company's current assets.
• The relationship between the financial (monetary) cycle and the level of working capital. Management of the company's financial cycle.
• An example of increasing company efficiency through optimization of the financial cycle.
• Analyze the company's ability to generate cash flows based on its cash flow budget.
• Calculation of the company's working capital needs.
• Company cash management. Ensuring balance sheet liquidity and solvency.
• Accounts receivable management. Use of factoring.
• Cost of working capital financing.
• Example of calculating the cost of financing net working capital.

Management of risks
• Basic requirements for the risk management system.
• The concept of three lines of defense.
• Components and principles of the risk management system.
• Participants and main elements of the risk management system.
• Identification and formulation of risks.
• Expert methods for identifying risks.
• Risk analysis and assessment.
• Development and implementation of risk management measures.
• Internal documents in the field of risk management.
• Risk reporting forms.

Business value management and valuation of small and medium-sized businesses in Russia
• The concept of value-based management. Basic concepts.
• The value of public companies and the value of medium and small companies. Comparative analysis. Value multipliers.
• Value creation factors for small and medium-sized companies in Russia.
• Analysis of cases of created and not created value of small and medium-sized companies.
• Economic effect from mergers and acquisitions.
• Concept of economic profit. Economic profit as a condition for creating business value.
• Business valuation. Basic approaches and methods.
• Business valuation. Income approach.
• Reasons for selling small and medium-sized businesses, peculiarities of behavior of sellers. Risks when selling a business.
• Preparation for the sale of small and medium-sized businesses. Stages of the transaction. Financial and legal schemes of transactions.

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.

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.

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 analysis: key users, questions, reporting forms. Profit and efficiency analysis
• Business analysis: key users, questions, reporting forms. Profit and efficiency analysis
• Cash flow and efficiency analysis
• Types of analysis and their applicability. Key indicators of profitability and profitability
• Indicators used to analyze the market, customers and business processes
• Personnel analysis. Analysis of the Cost-Volume-Profit relationship (C-V-P analysis)

Justification and evaluation of investment projects
• Introduction to investment analysis.
• Project time frame.
• Time value of money.
• Return on investment, determination of the project discount rate.
• Procedure for evaluating investment initiatives.
• Strategic rationale for the project.
• Project implementation plan as the basis of the financial model.
• Indicators of economic efficiency of the project.
• Sources of financing and their impact on project performance.
• Analysis of project risks, making decisions on investments taking into account risks.

Business planning
• Target audience of the business plan.
• Summary of the business plan.
• About insiders.
• Company description – mission and values.
• Company description – history and current position.
• Description of the company – organizational structure.
• Company description – business model.
• Description of the market and environment.
• Description of competitors.
• SWOT analysis.
• PESTLE analysis.
• Strategic planning.
• Typical mistakes in strategic planning.
• Operational plan.
• Sales (distribution).
• Implementation of the plan.
• Description of risks.
• Financial plan.
• Description of the command.
• Investment memorandum.
• Analysis of additional materials and links.

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.

Modeling in business: business and financial models
• Business plan/business model.
• Osterwalder's business model.
• Application of simulation.
• Project risk analysis.
• Project presentation structure.

Systems thinking
• Systems thinking: systems and their properties.
• Linear thinking and systems thinking: examples and features.
• Analysis of a problem situation, creating a complete picture, questioning, visualization.
• Search for cause-and-effect relationships in systems. Ishikawa Fish visualization tool.
• Sherwood's circular causality diagram.
• Feedback in the system: balancing and reinforcing.
• Organization as a system.
• Thinking traps. What prevents you from making informed decisions.
• Key provisions. Theories of system limitations, search for system bottlenecks.
• Systems thinking as a competency.

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).

Leader and employees
• What does a Leader need for effective management.
• Purposefulness and result orientation.
• Forecasting and planning.
• Control and self-control.
• Making decisions.
• Problem solving.
• Delegation.
• Communication with employees.
• Development of employee potential.

Leader and team
• What is the meaning of Leadership.
• The Leader's Path.
• How to develop leadership qualities.
• Power and influence of the Leader.
• Leader's personal effectiveness.
• How to stay on track.
• Leader and team.
• Systematic view of the team.
• Team management styles.
• Improving the efficiency of teams.
• Motivating employees and teams.

Business system
• Attention management.
• Intellectual capital management.
• Resource balance.
• Strategy.
• Modern company design.
• VUCA world and requirements for companies.
• Systems and structures.
• Resource-target modeling.
• Management.
• Smart management in the digital world.
• Uncertainty and its impact on management.

Marketing system and opportunity search
• Marketing functions. The evolution of marketing thought. Formation of value.
• Modern marketing: strategy, tactics, trends.
• Marketing management.
• Working with marketing information. Calculation of market capacity.
• Concentration index. Expert methods. Low-budget ways to analyze the market.
• Marketing research. Objectives of the task. Implementation specifics.
• WEB analytics. End-to-end analytics.
• Marketing research scenario. Construction of CJM.
• Algorithm for developing a new product. Generation of ideas. Design thinking.
• Blue ocean strategy. Value innovation. Innovative business models.

Systems design
• Complexity management tools.
• 3 useful analysis tools.
• Method of scientific search for solutions to problems.
• Matrix of tools for designing control systems.
• Development of a value proposition.
• Digital transformation of business.
• Digital transformation team.
• Digital maturity scale.
• Competencies of top managers.
• Digital transformation technologies.

Creating and promoting value
• Positioning. Points of differentiation. Positioning niches.
• Positioning: algorithm for generating and constructing a map.
• Branding: development algorithm and identity.
• Naming. Name development. Registration of trademarks in the Russian Federation.
• Brand design. Packaging is a brand differentiation strategy. Brand KPIs.
• Brand strategy. Growth in the value of private label (private label). Brand portfolio optimization.
• Methods of setting prices. Psychology of price. Dynamic pricing.
• Strategy and tactics in communications. Algorithm for developing creative and media strategy.
• Integrated Internet marketing. Internet marketing tools.

Human Resource Management Strategy
• Human capital of the company. HR function audit.
• HR strategy.
• HR analytics.
• Personnel cost management: budget formation.
• Personnel cost management: cost optimization methods.
• Corporate culture of the company.
• Organizational change management: development / preparation for implementation.
• Organizational change management: dealing with resistance/maintaining change.
• Personnel marketing. Employer value proposition.
• Promotion of the HR brand when working with different generations of employees.

Key technologies in the field of human resource management
• Competency model.
• Personel assessment.
• Recruitment.
• Personnel adaptation. Mentoring.
• Personnel training and development.
• Theories of motivation.
• System of material motivation.
• Fixed part of remuneration. Grading.
• Variable part of remuneration. Management by objectives.
• Internal research into the state of human resources.

Financial instruments for increasing efficiency
• Budgeting as an effective technology for company management.
• Unit economics as a basis for financial modeling.
• Determining the profit zone when scaling a business.
• Identification of infrastructural limitations of the business development model.
• Forecasting business performance based on the budget of income and expenses.
• Formation of a balanced business development plan based on the cash flow budget.
• Formation of investment policy based on CFS indicators.
• Forecasting the need for resources and possible sources of business financing based on the forecast balance.
• Internal business assessment based on three key methods. Application of terminal value to increase business value.
• Business valuation based on economic added value.

Construction of a financial management system. Analysis of investment projects and risk management
• Practical application of existing reporting systems for company management tasks.
• Fundamental analysis of the company. Dashboard of operational analysis of the company.
• Key methods for diagnosing the financial condition of a business: historical, vertical, plan-fact.
• Increased efficiency through identification of immobilized assets. Asset turnover.
• Methodology for making management decisions based on the analysis of indicators of the cash cycle model.
• Performance analysis based on the financial results statement.
• Methodology for a comprehensive analysis of factors affecting the efficiency of operating activities.
• Key success factors when analyzing internal and external investment projects.
• Risk management as the basis of a business management system. Creating a risk matrix. Risk management methods.
• Analysis of the sensitivity of investment projects based on risk management and development of project implementation scenarios.

Flexible project management in business
• The place of flexible design approaches in business. Product Development, Customer Development and Lean Startup.
• Business model of the project and business.
• MVP. A minimally working product to find a solution.
• Pivot: when and how a decision or strategy should be changed.
• Agile in project management. Popularity of different Agile approaches.
• Scrum. The concept of Sprint. Roles in Scrum.
• Team members. Functions and required skills.
• Documents in the project: Product backlog. Sprint backlog. Burndown chart.
• Processes: Sprint planning, review and retrospective. Scrum meeting.
• Implementation of Scrum. Problems and solutions.

Classic or “planned” approach to projects
• 5-phase project life cycle. Participants and their roles according to PMBoK.
• Effective project launch. Stakeholder requirements and Charter.
• Project content. Hierarchical work structure (WBS).
• Calculation of task durations and project schedules.
• Calculation of the cost of work and the project budget.
• Risk identification and mitigation.
• Project execution management.
• Control of project deadlines, budget and content.
• Change management system.
• Project reporting. Project closure and lessons learned.