Stage IV Workshop: Planning & Implementation

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... reinforces the usage of the Controller's tools - the system of management accounting as well as corporate planning - in a comprehensive case study, step by step, including the practice of the specific terminology.

The Budget Ltd Company:
An Integrated Controlling Case Study

Management Accounting

  • Derive a controller-like management report from product costing and cost centre accounting
  • Build up a management account, develop a priority list, divide costs into proco and struco in the performance and cost centre budgets
  • Rationale and method of activity based costing

Planning system

  • Develop a planning and budgeting system
  • Design a framework for budgeting
  • Organize the analyses and prognoses as information basis

Planning and Budgeting

  • Organize and carry out a strategic and operational planning meeting. Group assignment by functions: business units, sales, engineering, controller, treasurer
  • Achieve approval on company's overall ROI-target
  • Budget meeting - Feedback - Does the plan meet the objectives and is it realistic?

Balance Sheet and Methods

  • Elaborate a finance budget based on planned sales, costs and the investment budget
  • Cost summary and cost of sales method in the P&L
  • Influence of IFRS/US-GAAP
  • Work out a planned balance sheet, a cash flow statement and financial ratios

Financial Controlling and Reporting

  • Reconcile profit- and finance plans
  • Does the planned cash flow meet our requirements for financial stability?
  • Financial objectives and reporting
  • Cash flow statement and working capital analysis
  • A holistic view of controlling

Group Work on Selected Topics and Presentation of Findings

  • Controller as a change agent in the development of controlling
  • Problem-solving skills and behaviour when working on strategic topics
  • How to convince controller's customers
  • Rules for and experiences from controller's home visits
  • How to organise the "storage of ideas" and to set priorities
  • Assemble in the meeting room and practise team work
  • Presentation of findings
  • Latest trends in controlling