Financier - free course from the Russian School of Management, training 250 hours, date: December 6, 2023.

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.

Ph.D., Staff consultant to the Moscow Government on optimization of business processes and development of IT infrastructure.

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

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.

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 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 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.

Tax planning. Tax control
• Important changes in tax control legislation in 2019.
• Rights of the Office of the Federal Tax Service of the Russian Federation as a higher tax authority in relation to the Inspectorate of the Federal Tax Service of the Russian Federation.
• Repeated tax audit.
• Taxpayer rights.
• Request by tax authorities for documents from taxpayers.

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.

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

Internal audit and controlling
• Internal audit in the internal control and risk management system.
• Organization of internal audit.
• Stages of internal audit.
• Controlling.

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.