Why Attend
Managing the accounting and finance department requires building on various dimensions to keep the balance between growth and performance. ‘course in Modern Accounting and Finance Operations` presents dynamic and modern approach to manage the accounting and finance operations on a strategical level, beyond the technical day-to-day skills.
Dimension 1 is about designing a Key Performance Indicator (KPI) measurement system which will serve as a cornerstone for managing performance of the subsequent practices. Dimension 2 focuses on building teamwork, happiness, collaboration and self-mastery for the team which is a base to achieving better results. Dimensions 3 and 4 are focused on re-inventing processes while using innovation. Dimension 5 is focused on the satisfaction of internal and external customers with whom the accounting and finance teams interact. Dimensions 6 is about using all the previous practices to improve profitability.
Course Objectives
By the end of the course, participants will be able to:
- Describe and explain the financial and non-financial KPIs of the accounting and finance team
- Build a knowledge sharing culture and individual development plans for employees
- Develop a plan to increase happiness and positive attitude in the workplace
- Apply up-to-date practices in process mapping, value mapping and process re-engineering
- Develop a practical survey to understand internal and external stakeholders` satisfaction from the accounting and finance operations
- Implement costs saving strategies and innovation initiatives
Target Competencies
- Develop financial and non-financial KPIs
- Sharing of professional knowledge
- Personal development
- Accounting and finance process analysis
- Problem solving and process re-engineering
- Change management and innovation in accounting and finance
- Risk management / Stakeholder orientation
- Cost management
Course Outline
Introducing Key Performance Indicators: financial and non-financial
- What are Key Performance Indicators (KPIs)
- The crucial role of KPIs in managing performance
- Designing a KPI measurement system
- How KPIs should be linked to Key Result Areas (KRAs)
- Input KPIs, process KPIs, output KPIs, outcome KPIs
- Common problems with KPI systems
- Evaluating your existing KPI measurement system for enhancement opportunities
- Using KPIs in different management areas to assess performance
- Which financial KPIs do executives use?
- A&F KPIs: operational-performance related
- A&F KPIs: financial-performance related
Building the team`s capabilities
- Knowledge sharing, learning and human capital growth
- Creating a culture of knowledge sharing
- Knowledge sharing models: codification versus personalization
- Placing incentives for A&F staff to share knowledge
- Employee learning frameworks: push versus pull approach
- Available “free” self-learning tools for A&F staff
- Criteria for selecting trainings from external providers
- Diversification of learning solutions
- On-the-job training methods
- Off-the-job training methods
- Creating action plans for A&F staff development programs
- Assessing succession plan for the A&F team
- Building individual development plans for team members
- Happiness and wellness in the workplace
- The right physical environment and work atmosphere
- The appreciation system: do you reward effort or results?
- Happy work protocols for different occasions
- Birthdays, outings and events
- Sports and wellness
- Motivating management styles: building trust relationship
- Happy employee/manager relationship