Corporate accountants worldwide continue to make the same mistakes. Why do we spend months on an annual planning process that we know is flawed? And many days preparing monthly reports which inform management ‘after the horse has bolted’? Why are so many performance measures reported monthly, when those that galvanise change are reported more frequently? Why do so many forecast and budget at account level? Why do we take three months to finish the annual accounts when the month 12 numbers were within 5% of the final audited numbers?
In an economic downturn corporate accountants need to find more time to help their businesses in a more proactive way. This workshop will enlighten and encourage controllers, CFOs, management and financial accountants to avoid these major mistakes and work more smartly. It is based on David Parmenter’s new book Winning CFOs: implementing and applying better practices, which analyses the lessons learnt from ´winning’ finance teams from around the world.
Who will benefit
- Management accountants, and financial accountants
- finance directors, chief financial officers, financial controllers
- consultants and practitioners who offer services to corporate accountants
What you can gain
- a sound understanding of the critical success factors for a “winning corporate finance team”
- an in-depth understanding of how to complete month-end reports by 3 working days, annual accounts inside 15 working days, and the annual plan in two weeks
- over twenty reporting templates for daily, weekly and monthly reporting
- checklists, workshop agendas, useful memos and timeframes for the various implementations covered in the course
- an understanding of how to process re-engineer using “post-it” stickers
- a white paper and electronic media valued at £120
- an insight on how to sell change to the Board, Senior Management, and Budget holders
Testimonials from the course run for CIMA
A selection of the testimonials for this course include:
- Best presentation I have been to this year
- Really great concepts and challenges
- Very thought provoking and relevant.
- Very informative and entertaining. Kept it interesting and interactive.
- Fantastic presenter – painted clear pictures and used good stories to illustrate points.
- One of the best presenters I’ve seen at an accounting seminar.
8.45am Registration and coffee
The course will cover how to avoid the mistakes which include:
- having over 80 account codes for the P/L
- only forecasting to year end
- breaking down the annual plan into twelve before the year starts
- making the finance team a miserable place to work
- not investing enough effort and time into leadership
- producing numbing monthly financial reports
- reporting on the wrong performance measures
- allowing month end reporting to go past three working days
- investing in a complex G/L and upgrading unnecessarily
- giving budget holders an annual entitlement
- budgeting at account code level
- taking months doing an annual plan – instead of ten working days
- not producing daily/weekly decision based reports
- letting Excel dominate the finance system
- not investing enough in accounts payable.
Workshops: workgroups will share better practices and success stories while developing their next steps to take.
5.00pm Close of seminar
Refreshments and a light lunch will be provided.
Event Organizers and Professional bodies
If this course is relevant to your clients / members, please complete the enquiry form or email to email@example.com.
Booking an in-house course
David Parmenter travels on at least five major speaking tours a year. It is highly likely that a mutually convenient date can be found.
David Parmenter is an international presenter who is known for his thought provoking and lively sessions, which have led to substantial change in many organisations. He has spoken in over 30 countries and in most continents in the world. Besides delivering in-depth workshops he has been a keynote speaker for the IBM Finance Forum, The World Capability Congress, TEC Malaysia, Profiles International Romania. David is a leading expert in: the development of winning KPIs, replacing the annual planning process with quarterly rolling planning, quick month-end processes and making reporting a decision based tool.
John Wiley & Sons Inc have published his four books, including “Winning CFOs: Implementing and Applying Better Practices”, “The leading-edge Manager’s guide to success – strategies and better practices” and “Key Performance Indicators – developing, implementing and using winning KPIs”.
David has also worked for Ernst & Young, BP Oil Ltd, Arthur Andersen, and Price Waterhouse. David is a fellow of the Institute of Chartered Accountants in England and Wales.
He has written over 50 articles for the accounting and management journals. He has won two ‘article of merit’ awards from the International Federation of Accountants. (2007 and 2009). His published articles titles include: “Quarterly rolling planning – removing the barriers to success”, “Throw away the annual budget”, “Beware corporate mergers”, “Implementing a Balanced Scorecard in 16 weeks not 16 months”, “Convert your monthly reporting to a management tool”, “Smash through the performance barrier”, “Is your board reporting process out of control?” “Implementing winning Key Performance Indicators”, “Quick month end reporting” “Conquest leadership- lessons from Sir Ernest Shackleton” etc.
7 CPD hours (where applicable)