Stage II - Financial & Management Accounting

The increasing influence of accounting and transfer prices on figures and performance measurement shows that accounting knowledge is indispensable in controlling. Holistic corporate management requires linking profitability and financial transparency and controllers must be able to present the planned budget, including investments, in terms of their effect on the income statement, balance sheet, cash flow and financial ratios. That’s why we begin with integrated profit and financial planning in Stage II. You will look at the entire investment evaluation, learn about the potential offered by modern IT tools and the impact of internal cost allocation and transfer pricing on key figures.

After the seminar you will be able to:

• instrumentally advance the controlling of structural costs
• work with the balance sheet, cash flow statement and financial ratios and explain their use
• calculate investments, add sensitivities and present them in a comprehensible manner
• professionalise sales controlling with a wide range of tools
• understand the impact of internal cost allocation and transfer pricing

Seminar Content

Controlling of Structure Costs / Fixed Costs

• Plan and manage costs applying Zero Base Budgeting ZBB
• Introduce and use Activity Based Costing ABC with limited effort
• Process Mining: IT-based analysis & visualization of processes improve compliance, process stability and costs
• Robotic Process Automation (RPA) – a central component of digital transformation

Principles of Financial Accounting

• What do the balance sheet and cash flow statement provide? Differences between the Contribution Accounting and P&L (according to cost summary and cost of sales method)
• Cash flow statement based on IAS 7 or DRS 21
• Procedure for constructing the budgeted balance sheet and the budgeted cash flow statement

Case Study for Medium Term Financial Planning

• Plausibility checks for a business plan as part of the financial diagnosis: Key ratios on liquidity, stability and profitability as a “quick check”
• Financial management and working capital in combination

Value Based Controlling

• Calculation of the weighted average cost of capital WACC
• Criteria for investment evaluations: dynamic payback period, Net Present Value NPV and investment portfolio; potential weaknesses of the Internal Rate of Return IRR
• Introduction to business valuation: Shareholder Value (Discounted Cash Flow); Economic Value Added^TM; multiples; Due Diligence

Fundamentals of Sales and Customer Controlling

• Overview: integration of strategic and operational sales controlling tools
• Big Data in sales and marketing: influence of Predictive Analytics and Dynamic Pricing
• Key figures for sales in a “digital world”
• Target Costing – “strategic calculation” and management of customer value
• Workshop: profit center accounting and segment reporting (IFRS 8 compliant), customer result account, sales deductions, incentive model for the sales force, dashboard for the sales manager

Transfer Pricing

• Conflicts of interest: managing performance versus tax optimization
• Where and how transfer pricing influences controller’s key figures
• Internal charging: an instrument to optimize the use of internal resources

Target groups

The Seminar Stage II – Financial & Management Accounting is addressed to managers and employees in controlling, financial accounting as well as in cost accounting, corporate planning, management information systems, business administration and development.