Course Info
Course Summary
Having accurate and efficient accounting and finance processes, employees, and systems are essential to any business. Without good record upkeep, policies designed to keep track of spending and overheads, and competent employees who are prepared to identify issues and risk areas, your business could fall foul of overspending, causing you to have reduced profit margins.
Understanding your accounting strategy is important to making the best financial decisions for your business and staying ahead of the game. This involves considering your systems vs. employee resources and automating processes where required, providing a safe and positive physical environment for your employees, and discovering premium products and services to enable you to secure a higher return on investment.
The role of accounting and finance requires an individual to have an overview of all working processes and departments to understand how the business works as a whole. They will be responsible for paying taxes and identifying areas for improvement based on the business’ spending habits, risks, and future goals.
Upon completion of this course, participants will be able to:
- Develop a working knowledge of income statements and balance sheets.
- Identify cost-effective processes and risk areas.
- Look for cost behaviour by the department and make positive improvement suggestions.
- Create a budgeting process and impart knowledge to other departments based on this.
- Recover from financial downfalls.
- Understand governance mechanisms.
- Motivate others when considering cost implications in change plans.
- Use Baldridge performance criteria as a benchmark for success against competitors.
- Review the business's future goals and align with key accounting decisions to ensure success.
This course is built for people who are responsible for the accounting functions within a business or are required to consider finances as part of their role to move forward and develop processes. it would be most beneficial for:
- Chief Financial Officers
- Finance Managers
- Accounting Managers
- Operational Managers
- Directors
- Business Owners
- Supervisors or Team Leaders
- Project Planners
- Support Function Management
This course uses a range of learning techniques to uncover the importance of strategic planning regarding finances and accounting. It includes interactive presentations and seminars to discuss real-life project management and financial thinking alongside group activities to create project planning frameworks to mitigate areas of financial risk.
Course Content & Outline
Section 1: Your Team & Your Finances
- Financial considerations when managing a team.
- Sociotechnical management.
- The benefits of remote and hybrid working for a business.
- Process automation gains and losses.
- The role of CFO, controller, or treasurer.
Section 2: Strategic Thinking for the Future
- Analysing your current processes.
- Identifying strategic development opportunities.
- SWOT analysis development.
- Creating a future vision.
- Planning and Gannt frameworks.
- Journey mapping and budgeting for change.
Section 3: Managing People
- Effective communication to create a clear strategy.
- Motivating a team.
- Effective coaching procedures.
- The characteristics of an ineffective team and how to avoid them.
- Managing conflict and expressing shared aims.
- The characteristics of a successful management team.
- Understanding learning and working styles.
- Effective delegation based on key skills.
Section 4: Identifying Financial Risk
- The importance of creating a contingency plan.
- Audit trails and risk identification.
- Risk mitigation and appropriate movements with departmental funding.
- Examples of strategic failure and how these could have been avoided.
Section 5: Effective Record-Keeping
- Effective accounting records and their security.
- The importance of keeping accurate records.
- Future predictions based on past events.
- IFRS reporting and reviewing.
- Analyst reporting and report intelligence.
Section 6: Implementing a Result-Focused Culture
- Displaying ROI or ROCE to business associates for planned change.
- Reviewing competitor perspectives.
- Internal review procedures and gaining buy-in for development.
- Shareholder and partnership relationship development.
Section 7: Planning for Operational Excellence
- Negotiation techniques and moving forward.
- The benefits of effective negotiation on operational performance.
- Your mission statement and how this is affected by your finances.
- The Michael Baldridge standard of excellence.
- Employee commitments and your responsibilities to your team.
Section 8: Accounting Best Practice
- Identify key success factors and implement them into your strategy.
- Financial statements and accessibility.
- Good vs. bad investments.
- Record-keeping procedures and accounting books to track change.
Section 9: Corporate Governance and Reporting
- How to utilise reporting systems to identify key areas of loss and support change strategies.
- Executive decisions backed up by facts and figures.
- Time-based costing.
- Competency-based costing.
- Activity-based costing.
Section 10: Your Finances and Forming a Balanced Scorecard
- Treasury management with FOREX, working capital, and cash flow.
- CAPEX procedures.
- Reviewing profitability and scalability.
- NPV decision-making processes.
- Personal training programs to work towards effective balanced scorecards.
Section 11: Financial Modelling for the Future
- Managing continuous improvement.
- Evaluate current successes and how your team reached them.
- Your budget and your future strategy.
- Lessons learned and moving forward.
- How to stretch your budget to go the extra mile.
Certificate Description
Upon successful completion of this training course, delegates will be awarded a Holistique Training Certificate of Completion. For those who attend and complete the online training course, a Holistique Training e-Certificate will be provided.
Holistique Training Certificates are accredited by the British Accreditation Council (BAC) and The CPD Certification Service (CPD), and are certified under ISO 9001, ISO 21001, and ISO 29993 standards.
CPD credits for this course are granted by our Certificates and will be reflected on the Holistique Training Certificate of Completion. In accordance with the standards of The CPD Certification Service, one CPD credit is awarded per hour of course attendance. A maximum of 50 CPD credits can be claimed for any single course we currently offer.
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