Exam Preparation

MFC
Masterclass in Financial Control
Certificate in Accounting and Financial Control

Rating:

4.8

English

Intermediate

FACE 2 FACE

ON SITE TRAINING

LIVE VIRTUAL

TRAINING

COACHING

& MENTORING

SELF-PACED

TRAINING

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Course Overview

The MFC program is designed to extend the knowledge of people attending about recent developments in finance and accounting. Many organizations limited their finance reporting to the requirements of the IFRS standards, however, these corporate reporting requirements can be more broad and complete in order to deliver accurate and useful information for a wider range of stakeholders.

In this regard, MFC program looks to the best practices, both from the traditional and nontraditional approaches, that can be used to improve financial and cash flow analysis. Capital expenditure can result in a company thriving or surviving yet many organizations do not approach the capex decision in the most fundamental way.

This program looks at the discounted cash flows technique which is most fundamentally sound when companies wish to extend their business through the process of acquisition, so, we analyze the pitfalls that occur in the M & A scene and the likelihood that M & A will fail.

This 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.

Qassim A.

Senior Specialist - Program Enrollment

[email protected]

Let’s talk on WhatsApp

Key Takeaways

Participants will learn that there are many new reporting initiatives being practiced that are not required by the International Accounting Standards Board

You will be aware of different approaches to the analysis of organisations to see how efficient they are

You will be aware of the pitfalls associated with mergers and acquisitions and why some M & A organisations are more successful than others

You will gain an understanding of the requirements of the new reporting standards due for implementation in 2017

You will appreciate that the new standards may have an impact on the financial performance of the organisation.

International Academy of Business and Financial Management

The International Academy of Business and Financial Management™ (IABFM) is a global professional association offering certification training programs worldwide. IABFM™ hosts and organizes professional development courses and grants exclusive board designations to candidates who successfully meet its established standards and assessment criteria. With more than 200,000 members and affiliates across over 145 countries, IABFM™ focuses on advancing careers in business, finance, and management through specialized certifications.

Course Outline

Day 1

1. THE ROLE OF ACCOUNTING

» Introduction and course overview
» Overview and objective of financial reporting, management accounting and tax accounting
» Background of IFRS
» IFRS global adoption
» Success factors for management accounting to be impactful
» Success factors for tax accounting

2. CREDIT ANALYSIS

» Gathering information
» Purpose, amount, repayment, terms and security
- Assets – key questions
- Liabilities – key questions
» Other key factors
- International competition / low cost imports
- Sensitivity to input prices
» Way out analysis
- Cash flow / liquidation of assets

Day 2

3. BUDGET AS A CORPORATE PLANNING TOOL

» Core concepts in the budgeting cycle
» Critical success factors – using them as a planning tool
» Framework of master budgets and detailed budgets
» Advantages of budgeting
» Drawbacks of the budgeting process
» Identifying, implementing and monitoring corrective action

4. COSTING CONCEPTS

» Cost behavior - fixed, variable, stepped and semi-variable costs
» Full absorption vs. marginal costing – pros and cons
» Use of the overhead absorption rate
» Using fixed and flexible budgeting with standard costing

5. RELEVANT COSTING

» Fundamental concepts of relevant costs for decision making
» How to tackle fixed and committed costs in decision making
» Controllable & uncontrollable Costs
» Opportunity costs and sunk costs

Day 3

6. PREPARING FUNCTIONAL BUDGETS / GATHERING INPUTS

» Approaches to fixed budget preparation – zero-based, incremental, top-down, bottom up
» Cost estimation techniques
» Checking, sensitizing and challenging budget assumptions
» Gathering cost inputs
- Staff & Overhead budgets
» Gathering revenue inputs
-Historical data & setting targets

7. VARIANCE ANALYSIS

» Calculating core variances
» Price and volume variances – what they mean
» How to interpret favorable and adverse variances
» Using variance analysis to optimize financial performance

8. ACTIVITY BASED COSTING & BUDGETING

» Activity based budgeting – core concepts, principles and application
» Analysis of variances in a manufacturing industry
» Analysis of variances in a service industry

9. TRANSFER PRICING

» Inter-department recharges and corporate overheads
- Transfer pricing options
-Impact of transfer pricing on management decisions

10. BEYOND BUDGETING

» Core principles and concepts of beyond budgeting
» Benefits and drawbacks of traditional budgeting
» Setting targets in a beyond budgeting environment
» ‘KPI’ –improve business performance
» Benchmarking
» Core concepts and principles of target costing

11. THE BALANCED SCORECARD

»The meaning of ‘balanced scorecard’ and ‘KPI’ – and how they improve business performance
»Getting the mix right – balancing financial and non-financial measures
»KPIs relevant to delegates’
»Communicating and using the balanced scorecard within a business unit
» Getting colleagues to buy in to a remedial action plan when KPIs are off track
» Using influence and persuasion
» Different influencing strategies - and when to use them

Day 4

12. WORKING CAPITAL MANAGEMENT

» The working capital cycle
» Liquidity management
» Receivables management
- Cash vs credit options
- Credit policies
» Inventory management

13. CAPITAL BUDGETING DECISIONS

» Discounted cash flow techniques
- Net present value
- Internal rate of return
- Modified internal rate of return
» Core principles of WACC
» Adjusted present value and impact of debt on investment decisions

14. BUSINESS VALUATION

» Review of core concepts of cash flow appraisal techniques
» Free cash flow
» Principles of WACC and how it is calculated
» Asset beta and equity beta and how they are used
» Adjusted present value and impact of debt on investment decisions

Day 5

15. INTERNAL CONTROL FRAMEWORK

» Core concepts and practicalities of internal control
» A comprehensive approach addressing the design and implementation of risk management systems
- Developing risk management strategies and policies
- Creating a corporate risk register
- Key risk indicators (KRIs)
- Embedding risk management processes
- Developing the internal audit function and sound internal controls
» The COSO framework - a detailed examination of the COSO framework, including
- Framework objectives – Operations; Reporting; Compliance
- Framework components
- Control environment
- Risk assessment
- Control activities
- Information and communication
- Monitoring
» Spreadsheet risk
- Benefits of a formalized process
- Methods for improving spreadsheet models

16. OTHER DEVELOPMENT IN FINANCIAL REPORTING

» The Global Reporting Initiative
» Triple bottom line reporting
- Social
- Environmental
- Financial

17. IFRS UPDATES

REVENUE RECOGNITION
»Detailed review of the new five step model
» Identification of the performance obligation
»Determining and allocation the transaction prices
» Implementation issues and challenges
LEASES
»Challenges with the current standard
»Revised single model
»US GAAP dual model approach and key differences
» Impact on financial statements and debt covenants
FINANCIAL INSTRUMENTS
»Challenges in distinguishing debt and equity
»Recent changes in the categories of financial instruments
» Incurred loss model compared to new expected loss model for bad and doubtful debts provisioning

18. COURSE HIGHLIGTS, WRAP UP AND CONCLUSION

Who Should Attend?

This highly practical and interactive course has been specifically designed for

•Chief Accountants

•Group Finance Directors

•Heads of Finance

•Finance Managers

•Financial Controllers

•Accountants

•Management Accountants

•Any staff member that aspires to the accounting or finance functions

FAQ

What language will the course be taught in and what level of English do I need to take part in a LEORON training program?

Most LEORON courses are delivered in English. However, there are some courses offered in Arabic, mainly online. For our in-house courses, sessions can be curated and delivered in any language upon request. In general, the best way to confirm language availability is to check with our Enrollment Managers for the most up-to-date information. Simply click on “Let’s talk on WhatsApp” to chat with us directly.

What formats are the courses offered in?

LEORON delivers training in various formats including face-to-face, live virtual sessions, self-paced learning, in-house delivery as well as online courses.

Are LEORON Public courses certified by an official body/organization?

Yes, most LEORON public courses are accredited by internationally recognized bodies such as CIPD, ATD, PMI, EdEx, and many others—depending on the course.

Who accredits LEORON’s training programs?

LEORON partners with over 20 international bodies such as PMI, CIPD, ATD, EdEx, NASBA, CISI, GARP, HRCI, SHRM, ACCA, ASQ, IIA, ILM, IAC, and others

Are CPD points or PDUs provided?

Yes, learners can earn CPD credits and professional development units (PDUs) including NASBA CPEs, PMI PDUs, CISI, GARP, HRCI, SHRM, and more.

How can I register for a course?

You can register through our website by filling in the inquiry form, or by speaking directly with one of our consultants via WhatsApp or email. Once we confirm your interest, we’ll guide you through the steps.

When is the registration deadline for public courses?

Registration typically closes 14 days before the course start date, with occasional late registrations accepted upon confirmation

What is included in the course fee?

The fee generally covers 5-star venue facilities, training materials, certified instruction, lunches and refreshments, plus certification and membership where applicabl0065

Are there group rates or discounts?

Yes, group bookings and corporate-level discounts are available. Learners are encouraged to reach out to discuss specific arrangements

What support is available with registration?

Enrollment Managers and a Registration Desk assist with the entire process, including deadlines, travel logistics, and course customization. As well as any other special requests you might have. Simply to go your preferred course and click on “Let’s chat on WhatsApp” to do so.

Can I request a bespoke course at my location or within my organization?

Yes, in-house training is fully customizable in terms of curriculum, language, delivery, and timing. You can suggest dates and locations. Simply to go your preferred course and click on “Let’s chat on WhatsApp” in order to address any questions or concerns in this regards.

What is the refund or cancellation policy?

Refund and cancellation policies vary depending on the course type and location. Generally, cancellations made at least 14 days before the course start date may be eligible for a full or partial refund, while cancellations made closer to the course date may incur a fee. For exact terms, please consult your Enrollment Manager or refer to the course confirmation email.

Can I register multiple employees from my company?

Yes. We support group registrations and offer corporate packages for organizations enrolling multiple participants. Our team can help coordinate the logistics for group bookings.

Who should attend these courses?

LEORON caters to a variety of professionals: from those seeking leadership development to project managers, HR specialists, finance professionals, cybersecurity, procurement, Ai enthusiasts and many others.

Do I need prior experience or academic qualifications?

Not always. Many specialized paths, like cybersecurity, accept learners without prior experience. However, some courses (e.g., PMI PDU-based ones) may have recommended prerequisites. Its always better to chat with one of our Enrollment Managers to discuss more. Simply to go your preferred course and click on “Let’s chat on WhatsApp” to do so.

Will I receive a certificate after completing the course?

Yes. Upon full attendance and successful completion, you will receive a certificate of participation or accreditation, depending on the course.

Are meals and refreshments included in face-to-face courses?

Yes. For in-person courses, lunch and coffee breaks are provided daily at the venue.

Can LEORON deliver a course in-house at our organization?

Absolutely. All programs can be delivered privately at your company or virtually for your team, customized to match your internal goals and structure.

Reviews

Review:
IAMM Internal Audit Maturity Model
In recognition of their dedication and contribution supporting IKEA Saudi Arabia in arranging training programs during 2017 & 2018, looking forward for more development and exciting effort this year. On behalf of IKEA Saudi Arabia, THANK YOU!
Dalal Kutbi
Country Learning & Development Manager at IKEA Saudi Arabia
Review:
Certified Professional in Quality and Patient Safety
Dating back to 2014, Mobily’s “LEORON” experience has grown from a single collaboration to a long-term partnership. We consider ‘’LEORON” Institute as a strategic partner, whose contribution has been nothing but premium in equipping our staff with field-based knowledge and information. Past three years have resulted with an expanded collaboration with superior customer service and support. Best Regards,
Turki S. Alsahaan
Dir L&D, Talent Management at Mobily, Etihad Etisalat Company
Review:
Certified Professional in Quality and Patient Safety
Since the partnership was signed between BAE Systems Saudi Development & Training and LEORON in 2017, we have been working together to offer the Saudi market a complete portfolio of training solutions benefiting from the wide and extensive experience of both parties. Recognizing the great success of this partnership, we are looking for further collaborations in the future that will position both companies as one of the leading training providers in Saudi Arabia. We thank the LEORON team for their full cooperation and continuing support, and look forward to further success together in the years to come.
Emad Alrajih
VP, Business Winning at BAE Systems Saudi Development & Training
Review:
Certified Professional in Quality and Patient Safety
We have been working with LEORON for the past two years and will be working with them again this upcoming year. The programs they delivered were fruitful and exciting and our organization has received positive feedback from the participants. What our organization aims to do is to provide at no cost training for all the private sector employees so that they may benefit from our offered programs in Innovation and Professional development. LEORON has helped us achieve this goal. We look forward to continuing this service and wish them the best of luck. Regards,
Nasser M. Al-Subaie
Sr. Program Officer, Enterprise Learning & Human Development at Kuwait Foundation for the Advancemen
Review:
IAMM Internal Audit Maturity Model
In recognition of their dedication and contribution supporting IKEA Saudi Arabia in arranging training programs during 2017 & 2018, looking forward for more development and exciting effort this year. On behalf of IKEA Saudi Arabia, THANK YOU!
Dalal Kutbi
Country Learning & Development Manager at IKEA Saudi Arabia
Review:
Certified Professional in Quality and Patient Safety
Dating back to 2014, Mobily’s “LEORON” experience has grown from a single collaboration to a long-term partnership. We consider ‘’LEORON” Institute as a strategic partner, whose contribution has been nothing but premium in equipping our staff with field-based knowledge and information. Past three years have resulted with an expanded collaboration with superior customer service and support. Best Regards,
Turki S. Alsahaan
Dir L&D, Talent Management at Mobily, Etihad Etisalat Company
Review:
Certified Professional in Quality and Patient Safety
Since the partnership was signed between BAE Systems Saudi Development & Training and LEORON in 2017, we have been working together to offer the Saudi market a complete portfolio of training solutions benefiting from the wide and extensive experience of both parties. Recognizing the great success of this partnership, we are looking for further collaborations in the future that will position both companies as one of the leading training providers in Saudi Arabia. We thank the LEORON team for their full cooperation and continuing support, and look forward to further success together in the years to come.
Emad Alrajih
VP, Business Winning at BAE Systems Saudi Development & Training
Review:
Certified Professional in Quality and Patient Safety
We have been working with LEORON for the past two years and will be working with them again this upcoming year. The programs they delivered were fruitful and exciting and our organization has received positive feedback from the participants. What our organization aims to do is to provide at no cost training for all the private sector employees so that they may benefit from our offered programs in Innovation and Professional development. LEORON has helped us achieve this goal. We look forward to continuing this service and wish them the best of luck. Regards,
Nasser M. Al-Subaie
Sr. Program Officer, Enterprise Learning & Human Development at Kuwait Foundation for the Advancemen