Controllership Training Program

Topic Highlight

Day 1 Training (August 23, 2010) Core functions, Controller's Management Role, Managing the department, Accounts Payable, Accounts Receivable Lesson 1: Core Functions Topic 1A: the 'how to's' of working with the owner and other managers, managing the accounting department, making credit decisions, communicating the firm's financial condition to lenders and suppliers, promoting efficient cost-reduction approaches, aiding in sales price determinations, helping top management make capital decisions, setting both short- and long-term performance goals Topic 1B: Tried-and-true techniques and tools for performing the controllership function Topic 1C: Need for the controller to keep abreast of the latest developments, at least in a high-level and practical manner Lesson 2: Controllers Management Role Topic 2A: The role of the controller as a manager. Topic 2B: Practical insights to help new controllers start off properly and work with different personality types including the owner (CEO), board of directors, key managers, and outside professionals, such as attorneys, CPAs, bankers, and others. Topic 2C: Discussion on making the transition from practicing CPA or corporate middle manager to small business controller. Suggestions for developing a code of ethics and handling illegal or unethical situations. Topic 2D: Useful time-saving ideas and ways to handle conflicts and stress, including managing communication technologies such as e-mail Lesson 3: Managing the Accounting Department Topic 3A: Ideas about organizing the accounting staff, motivating the staff to excellent performance Topic 3B: analyzing data flow and functions, directing and reducing the cycle time needed for the month-end closing, and putting together an accounting manual. Topic 3C: Approaches to identifying time-consuming and efficiency-related problem areas are provided. Topic 3D: Achieving accuracy in gathering relevant data and preserving its integrity. Lesson 4: Accunts Receivable Management Instructor- Bryan Martin,Manager, BDO Topic 4A: Resolving collection problems and formulating credit policies and procedures. Guidelines and tips are offered to improve collections, analyze accounts receivable levels, investigate credit, and report accounts receivable activity to the owner and key managers Topic 4B: Systematic approach to collecting past due accounts and processing invoices and remittances, along with guidance for monitoring accounts receivable based on aging analysis Topic 4C: Discussion of software that can assist in collections Topic 4D: Discussion of using outside credit reporting services, assigning credit limits, analyzing order and invoice processing, and handling remittance exceptions Lesson 5: Managing Accounts Payable Instructor- Bryan Martin, Manager, BDO Topic 5A: practical guidance for monitoring and evaluating the purchasing function to reduce purchase and material costs while also increasing efficiency, handling the disruptions of processing exceptions, directing the processing of vendor payments, and reporting payables performance Topic 5B: evaluating and selecting vendors, developing and maintaining good working relationships with vendors, negotiating and setting up a process for purchasing, and implementing a purchasing card (p-card) system Topic 5C: Systematic approach to organizing the accounts payable process and creating error-free cash disbursements Topic 5D: Importance of measuring the efficacy of every process Topic 5E: Tips on efficiency tools such as purchase cards, balancing staff workloads, selecting the best invoice payment dates, avoiding mistakes, and minimizing company commitments and guarantees Lesson 6: Emerging Channel Risks - the FCPA and Export Compliance Samantha Parish, Senior Manager, Deloitte Topic 6A: FCPA, Close process Topic 6B: FCPA, Litigation matters Topic 6c:Setting up a close calendar, structured Close Process Day 2 Training (August 30, 2010) Inventory Managment, Cash Management, Close Process, Internal and External Reporting Lesson 7: Inventory Management Instructor- Bryan Gendron, Senior Manager, BDO Topic 7A: Discussion on ways to maintain desired inventory levels and to set inventory policies Topic 7B: Discussion of the 80-20 rule, purchase pattern analysis, EOQ calculations and practical implementation guidance, bar coding, and other techniques for managing inventory Topic 7C: Guidance for taking physical inventories, setting up internal controls over inventory, and reporting Topic 7D: Simple and easy ways to monitor the overall function of inventory management Lesson 8: Cash Management Instructor- Stephan Thomas, Sr Director, Alvarez Marsal Topic 8A: Maintain the optimum amount of cash by enforcing cash collections at the earliest, and cash payments at the latest, time possible, so that the firm has use of the cash for the maximum time period Topic 8B: Understand the cash flow cycle, forecast monthly, weekly, and daily cash needs, and use available cash Topic 8C: Methods and ideas for lowering bank fees, accelerating cash collections, preparing cash reports, and streamlining operating procedures Topic 8D: Software that can assist in forecasting Topic 8F: Contemporary issues section to keep controllers abreast of new cash management trends Lesson 9: TBD Instructor- TBD Topic 9A: Topic 9B: Topic 9C: Lesson 10: Management Reporting Instructor- Christina Minasi, Senior Manager, BDO Topic 10A: Gathering useful management information for preparing meaningful reports Topic 10B: Practical tools for assessing information needs, their costs and benefits, and making decisions about preparing and using reports Topic 10C: Contemporary illustration of a management report includes identifying and assessing the company's key functional areas,key performance indicators,and critical success factors Topic 10D: worksheets and forms for preparing key executive reports focused on critical success factors, which link reports to strategic business planning goal setting Lesson 11: External Reporting Instructor- Ahmad Ejaz,Senior Manager, BDO Topic 11A: Planning calendar Topic 11B: Position papers, emerging issues, documentations Topic 11C: Managing with the regulation S-X and Regulation S-K Topic 11C: XBRL Readiness Topic 11D: Disclosure Committee, Attorney and Auditor Communications Topic 11F: Printers and Timely Filing Lesson 12: Emerging Topics - TBD Topic 12A: TBD Topic 12B:TBD Day 3 Training (September 13, 2010) Business Planning, Budgeting, Evaluating proposed Capital Investments, Obtaining Financing Lesson 13: Business Planning Instructor- Kalyan Raman, Director, PwC Instructor- Luca Caporicci,Manager, PwC Topic 13A: benefits derived from the business planning process and its role in building strategies, budgeting, and evaluating performance Topic 13B: Budgeting process of production, marketing, staffing, capital expenditure, operating, and cash flow management Topic 13C: step-by-step guidance for performing business planning, including preliminary planning considerations; the use of SWOT analysis to evaluate a project's strengths, weaknesses, opportunities, and threats; the life-cycle curve; portfolio management; and setting and monitoring performance goals Topic 13D: Linking the goals to current budgets and key management reports Lesson 9: Budgeting Instructor- Kalyan Raman, Director, PwC Instructor- Luca Caporicci,Manager, PwC Topic 14A: Practical steps for preparing a detailed line-item budget Topic 14B: Discussion of the importance of creating short- as well as long-term budgets Topic 14C: Steps involved in budget preparation for sales, accounts receivable, receipts, and selling and administrative activitiest Topic 14D: Detailed case study example of a completed budget package Topic 14E: How to put the business plan into measurable numbers and maintain consistency with the accounting presentation and general ledger Topic 14F: Discussion of software that can assist in budgeting Topic 14G: Contemporary issues to keep controllers abreast of new budgeting trends Topic 14H: The pitfalls of using a static budget for performance evaluation and the need to develop zero-based budgets requiring justification of every cost item Lesson 15: Evaluating Proposed Capital Investments Instructor- Kalyan Raman, Director, PwC Instructor- Luca Caporicci,Manager, PwC Topic 15A: Guidance for making capital investment decisions Topic 15B: Net present value, payback, and accounting rate of return methods for making the initial decisions and ranking the capital projects Topic 15C: Isolating and controlling capital investment risks, which can be important for a small company, is discussed, including a breakeven analysis Topic 15D: Sensitivity analysis is provided for evaluating risk factors and fixed versus variable cost trade-offs Topic 15E: evaluating lease-versus-buy and other financing options using discounted cash flow analysis, monitoring capital projects, and isolating capital investment risks Lesson 16: Obtaining Financing Topic 16A: Evaluating the company's financing needs and analyze potential internal and external cash sources Topic 16B: preparing financing proposals, choosing and monitoring lenders, and negotiating loan terms Topic 16C: Resources for finding venture capital firms and publishers of ratio studies Topic 16D: Scontains information on evaluating existing debt levels and monitoring current lender relationships Lesson 17: Emerging Topics- Guest Speaker Topic 17A: TBD Topic 17B: TBD Day 4 Training (September 20, 2010) Corp tax administration, Business Insurance, Executive Tax Planning Lesson 18: Corporate Tax Administration and Planning Instructor- Kelly Gaffaney, Tax Partner, Deloitte Topic 18A: Practical steps for improving the company's tax compliance and planning process Topic 18B: Dealing with the IRS, like-kind exchanges, shareholder/employee benefits, and tax record retention guidelines Topic 18C: Tax planning ideas are given for closely held businesses in such areas as compensation planning, benefits, and disbursements Topic 18D: Preparing corporate returns and electronic tax filing Topic 18E: Strategic issues related to C and S corporations as well as state and local tax requirements and approaches to reducing their burden Topic 18F: Dealing with an IRS audit and the proper retention of records Lesson 19: Managing Business Insurance Topic 19A: Identify and manage risks and control insurance costs Topic 19B: Bidding insurance, always a difficult area, is discussed along with selecting agents and analyzing coverages Topic 19C: The insurance bidding process, insurance companies ratings, commercial automobile policies, and compensation insurance Topic 19D: Other practical helps include a premium trend worksheet, risk profile questionnaire, and a cost/benefit analysis worksheet Lesson 20:Executive Tax and Financial Planning Instructor- Kelly Gaffaney, Tax Partner, Deloitte Topic 20A: various tax planning strategies for highly compensated individuals, including fringe benefits and deferred compensation Topic 20B: Basic elements of estate planning for business owners, including buy-sell agreements Topic 20C: Effect of the American Jobs Creation Act of 2004 on deferred compensation, health savings plans, and tax planning for charitable contributions Lesson 21: Emerging Topics (Impairment)-Russell Bertuccelli- Director, Huron Consuting Topic 21A: Annual Impairment Matters Topic 21B: Walk-through of Impairment Example Day 5 Training (September 27,2010) Personnel Management, Systems Management, Facilities Administration, Contemporary issues Lesson 22: Personnel Management Topic 22A: Various troublesome personnel issues, such as hiring and firing employees, classifying contract labor workers, complying with a myriad of laws, and controlling company salary expenses Topic 22B: Current federal wage and hour issues and offers ideas for developing an employee handbook Topic 22C: Family and Medical Leave Act, sexual harassment issues, the Age Discrimination in Employment Act (ADEA), the Small Business Job Protection Act, and other current developments affecting personnel management Topic 22D: Ethical issues related to personnel management Lesson 23: Systems Management Instructor- Jayraman Swaminathan,Manager, SOAProjects Topic 23A: Evaluating the information systems, acquiring hardware, selecting accounting software, supervising system operations, setting up basic security measures, and meeting users' needs Topic 23B: Guidelines for back-up procedures, disaster recovery techniques, and anti-virus programs Topic 23C: Computer-related fraud and abuse and relevant management requirements of the Sarbanes-Oxley Act Topic 23D: assessing, upgrading, and replacing a current system Topic 23F: New Technology Developments Lesson 24: Facilities Administration Topic 24A: Choose office equipment, phone systems, copiers, multifunction machines, and fax machines Topic 24B: Common-sense approach to meeting office facility needs Topic 24C: information on negotiating facility leases, locating various types of office equipment, and evaluating vendors Lesson 25: Contemporary Issues Topic 25A: Contemporary issues evolving in the business and controllership marketplace Topic 25B: Business process reengineering (BPR), total quality management (TQM), the Internet, activity-based costing/management (ABC/M), and electronic data interchange (EDI) Topic 25C: Ethical issues of concern to companies and, in particular, controllers Topic 25D:current methods and developments in a variety of areas with business owners (CEOs) and make decisions about their deployment Lesson 26: Emerging Topics- Guest Speaker Topic 26A: TBD Topic 26B: TBD