Chief Economist - free course from the Russian School of Management, training, Date: December 6, 2023.
Miscellaneous / / December 09, 2023
How to increase labor productivity, achieve efficiency and profitability of production, quality of products, and reduce their costs? How to ensure growth in labor productivity and wages, achieve results with lower material, labor and financial costs?
After training, you will find answers to these questions, as well as:
— Gain knowledge, skills and abilities to create a comprehensive and effective financial management system in accordance with the company’s strategy and objectives.
— Systematize knowledge and acquire skills for organizing the work of the financial and economic department.
— Learn to correctly draw up financial models and conduct financial and investment analysis based on them, and interpret the results. Master the principles of building a financial model and be able to predict profits
— You will be able to classify costs and learn about methods for calculating them.
— Learn to evaluate and analyze the company’s working capital.
— Regulate and optimize the company’s management accounting system.
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.
Business coach, founder and CEO of Center LLC, external SAP expert. Developer of the concept of the Moscow State University business incubator.
Business coach, founder and CEO of Center LLC, external SAP expert. Developer of the concept of the Moscow State University business incubator.
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.
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.
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.
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.
Working capital management.
• 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.