Advanced Financial Management Planning, Implementation, Reporting and Analysis for Corporate Organizations

Upon completion of this course, you will be able to:

• Use forecasting tools.
• Determine forecast accuracy.
• Apply the most accurate tool for forecasting.
• Define a resource development issue.
• Estimate revenue shortage.
• Develop revenue options.
• Assess revenue options.
• Determine optimal revenue options.
• Calculate total cost, average cost, direct cost, indirect cost, personnel cost, operating cost, and capital cost.
• Perform cost allocation.
• Use cost depreciation methods.
• Apply average cost to determine efficiency.
• Understand the concepts of present value, future value, time value of money, discount rate.
• Apply present value of cost in cost comparison.
• Apply annualized cost in cost comparison.
• Apply incremental cost in decision making.
• Calculate the net present value and the benefit/cost ratio.
• Understand conditions to which a cost-benefit analysis applies.
• Apply the cost-benefit analysis in decision making.
• Determine proper indicators for monitoring.

CONTENT

Revenue Forecasting

• Simple moving average (SMA)
• Exponential smoothing (EXS)
• Transformation moving average (TMA)
• Regression against time
• A quasi-casual forecasting model
• Determining forecast accuracy

Resource Development Analysis

• Defining the issue: revenue shortage
• Estimating revenue shortage
• Developing revenue options
• Assessing revenue options
• Making decisions

Cost Estimation

• Cost classification
• Total cost estimation
• Average cost estimation

Cost Comparison

• Calculating present value
• Calculating annualized cost

Cost-Benefit Analysis

• Introduction to cost-benefit analysis
• Issues in cost-benefit analysis

Financial Performance Monitoring

• Determining monitoring indicators
• Detecting unacceptable performance
• Understanding the causes and taking action

Cash Management

• Creating a cash budget
• Determining the optimal cash balance

Financial Reporting and Analysis: The Statement of Net Assets

• What information is in the statement of net assets?
• The accounting process
• Principles that govern accounting practices

Financial Reporting and Analysis: The Statement of Activities

• What information is in the statement of activities?
• Accounting bases

Financial Reporting and Analysis: Fund-Level Statements

• Governmental funds
• Proprietary funds
• Fiduciary funds

Financial Condition Analysis (FCA)

• What is financial condition analysis?
• Determining measures in FCA
• Identifying any warning trend of deteriorating financial condition
• Specifying the relationship
• Explaining the relationship
• FCA report writing

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.