Chief Financial Officer (Operational Level)

Role of the Financial Director and Areas of Responsibility

• The Financial Director as a business role in a modern company.
• Key functions and areas of responsibility of the Financial Director.
• Differences between the Financial Director and other financial roles.

Management Accounting as the Basis for CFO Financial Decisions

• Fundamentals and role of management accounting in business.
• Cost classification and cost behaviour.
• Analysis, allocation and management of costs.
• Financial decision-making and tools for managing a company during turbulent periods.
• Application of AI in management accounting and budgeting.
• Limitations and risks of using AI.

Cost Management, Costing Methods, CVP Analysis and Break-Even Point

• Cost management concepts and costing systems.
• Accounting for and allocation of indirect costs.
• Absorption Costing and Direct Costing.
• ABC costing.
• Just-in-Time (JIT) production management.
• Cost behaviour and Cost-Volume-Profit (CVP) analysis.
• Break-even analysis.
• Sensitivity analysis.
• Product mix analysis.
• Using financial information for management decision-making.

Management Profit and Loss Reporting, Sales Structure and Product Profitability

• Management analysis and profit maximisation.
• EBIT and EBITDA.
• Management P&L reporting.
• Preparation of management reporting: P&L, Cash Flow Statement and Balance Sheet.
• Analysis of sales profitability.
• Analysis of the profitability of individual products.

Pricing

• Mark-up-based pricing.
• Pricing decisions.
• Price elasticity of demand.
• Pricing methods.

Applied Budgeting Models for Different Types of Businesses

• Applied budgeting models for different business types.
• Budgeting in manufacturing companies.
• Budgeting in service companies.
• Budgeting in trading companies.
• Budgeting in retail/network companies.
• Practical budgeting and financial modelling cases:
  • production budgeting and analysis of increasing turnover;
  • retail network budgeting and P&L analysis;
  • budgeting an SMM agency from scratch;
  • coffee shop budgeting and scenario analysis.

Target Financial Indicators, Target Capital Structure, Plan-Fact Analysis and Transfer Pricing

• Target financial indicators.
• Target capital structure of a company.
• Plan-fact analysis.
• Profitability and WACC analysis.
• Economic Value Added (EVA).
• Liquidity ratios.
• Transfer pricing methods.

Management Reporting by Product Segments and Non-Financial Performance Indicators

• Management reporting by product segments.
• Practical application of segment reporting.
• Management control using non-financial performance indicators.

Balanced Scorecard

Lessons

• Balanced Scorecard as a management control system.
• Practical case study on the Balanced Scorecard.
• Practical application of the Balanced Scorecard.

Financial Reporting for Banks and Credit Analysis

• How banks analyse company financial statements.
• Balance Sheet analysis for banks.
• Liquidity and financial stability.
• Aggregated Balance Sheet and financial assessment.
• P&L analysis for banks.
• Cash Flow analysis and debt-servicing capacity.
• Equity and financial reliability.
• Financial risks and limitations of financial reporting.
• Financial ratio analysis.
• Integrated credit assessment.

Fundamentals of IFRS

• IFRS as a business management tool.
• IFRS 15 Revenue.
• IFRS 16 Leases.
• IAS 16 Property, Plant and Equipment.
• IAS 38 Intangible Assets.
• IAS 2 Inventories.
• IAS 36 Impairment of Assets.

Transition to IFRS and Financial Reporting Management

• Transition to IFRS: transformation or continuous accounting.
• Common errors and risks in IFRS transition.
• How a CFO reads and uses IFRS financial statements.