Stage IV - Planning & Implementation

The controlling scene is characterized by a variety of revolutions. New challenges with the emergence of digitization, a changed role model in the sense of business partnering and modern organizational structures such as shared service centers are only three offers from a hardly manageable shopping cart of partly overlapping and contradictory controlling developments. Software-Tools, methods have to be implemented and skills adapted. It is important to overcome the hurdles between necessities and practice in day-to-day work.

After the seminar you will be able to:

• understand the whole system of integrated cost accounting through to profit and loss accounting
• understand modern business planning with risk and reward assessment for decision-making
• measure controller performance to improve effectiveness and efficiency
• understand the relationships between P&L, balance sheet, cash flow, financial ratios and rating
• take a stand on current controlling issues

Workshop Content

I. Update of a Management Accounting System as Preparation for Planning

• Analysis and design of both production and administration cost centers (including activity-based costing)
• Requirements and methodologies of a state-of-the-art product costing
• Elements and structure of a decision- and responsibility-oriented management result account; harmonization of the income statement (internal/external)

II. Development of an Integrated Planning Concept

• Core elements of a business plan
• Inclusion of external requirements such as Business Judgement Rule, risk management, bank rating as per Basel II/III
• Connecting strategic and operational planning
• Design of a planning conference (PowerPoint- or Excel-based)
• Examples of use for predictive analytics and Monte-Carlo-Simulation

III. Financial Controlling Part 1

• Structure of a planned income statement, planned Balance Sheet and planned Statement of Cash Flows to manage structural and free Cash Flow
• Financial analysis using key figures
• Planning and managing working capital using the Cash-to-Cash-Cycle (DSO, DPO, DIO)

IV. Financial Controlling Part 2

• Hedging of financial risks (e.g. currencies, raw materials, interest rates) with the help of financial derivatives (options, swaps and futures)
• Corporate financing (gearing, leverage, cost of capital)
• Current highlights and lowlights of IFRS accounting using practical examples

V. Workshop on Current Trends in Controller Practice

• Inventory of controlling relevant topics and prioritization
• Problem solving in a team, presentations and discussions
• Example topics: outsourcing / starting a shared service center, Controlling and Sustainability (“ESG”), E-Commerce-Controlling, opportunities and risks of digitization for controllers or other topics introduced by participants

VI. Controlling the Controller’s Work

• Transparency in the controller’s service
• Performance measurement and management for controllers
• Balanced Scorecard for the controller’s service

Target groups

Stage IV – Planning & Implementation is adressed to managers and employees in controlling, financial accounting as well as in cost accounting, corporate planning, management information systems, business administration and development who want to expand their controlling knowledge in a practical way.