The MFC program is designed to extend the knowledge of people attending about recent developments in finance and accounting. Many organisations limit their reporting to shareholders to the requirements of the IFRS standards. However, many organisations are extending their reporting to a far wider range of stakeholders. MNEs, in particular, are reporting to stakeholders using approaches suggested by organisations such as the Global Reporting Initiative. The MFC program looks at some of the approaches used. Reports are prepared to be analysed by users and some of the traditional and nontraditional approaches are considered. The program also considers some techniques and approaches that can be used to improve cash flow and considers the “cash as inventory” concept of approaching cash flow control. Capital expenditure can result in a company thriving or surviving yet many organisations do not approach the capex decision in the most fundamental way. The program looks at the DCF technique which is most fundamentally sound. Many organisations wish to extend their business through the process of acquisition. We analyse the pitfalls that occur in the M & A scene and the likelihood that M & A will fail. The program also considers some of the recent changes in financial accounting as a result of changes to the IFRS standards. It also looks at the standards which are due to be implemented in 2017 and the impact they will have on the reporting process.
- Attendees will learn what the major new changes to the International Financial Reporting Standards are and the way they will impact their organisation.
- They will become aware of the major changes that are taking place in corporate reporting which now addresses a number of issues, such as Corporate Social Responsibility.
- They will see the cyclical nature of merger activity and how the major players undertake mergers and why you should presume that any mergers will fail.
- They will learn about the business valuation process which is described as being more of an “art rather than a science”. This also considers the valuation of family owned/controlled businesses and the key issues associated with the conflicting objectives of family owned/controlled businesses.
- The capital investment decision is usually premised on incorrect assumptions. Attendees will learn what are the alternative approaches to capital expenditure evaluation that will provide the optimal solution
WHO SHOULD ATTEND?
- Chief Accountants
- Group Finance Directors
- Heads of Finance
- Finance Managers
- Financial Controllers
- Management Accountants
- Executive Directors of Finance
- Heads of Accounting and Administration
- Finance and Information Systems Managers
- Financial Analysts
- Any staff member that aspires to the accounting or finance functions
Certificate in Accounting and Financial Control is issued through the International Academy of Business and Finance Managers
The International Academy of Business and Financial Management™ is one of the world’s fastest growing professional associations with more than 200,000 members, associates and affiliates in 145 countries. IABFM™ hosts and organizes certification training worldwide and offers exclusive board designations to candidates who meet the highest professional standards and assessment criteria.
The IABFM is credited by the American National Standards Institute (ANSI) the International Standards setting authority.
- Length 5 days
- Level Advanced Training
- Industry Finance & Accounting
- Prerequisites None
- Association IABFM - International Academy of Business and Financial Management
- Language English
- This program is worth 35 NASBA CPE credits
ROLE OF ACCOUNTING
PRACTICALITIES OF ASSESSING FINANCIAL STATEMENTS
RECAP OF DAY ONE
THE BUDGET AS A CORPORATE PLANNING TOOL
PREPARING FUNCTIONAL BUDGETS / GATHERING INPUTS
RECAP OF DAY TWO
ACTIVITY BASED COSTING & BUDGETING
ECONOMIC VALUE ADDED
THE BALANCED SCORECARD
WORKING CAPITAL MANAGEMENT
CAPITAL BUDGETING DECISIONS
COMPREHENSIVE CASE STUDY
INTERNAL CONTROL FRAMEWORK
INTERNAL CONTROL FRAMEWORK (CONTINUED)
OTHER DEVELOPMENT IN FINANCIAL REPORTING
IFRS UPDATE – REVENUE RECOGNITION
IFRS UPDATE – LEASES
IFRS UPDATE – FINANCIAL INSTRUMENTS
IFRS UPDATE – OTHER EMERGING ISSUES
COURSE WRAP UP AND CONCLUSION