Six Dimensions of Effective Accounting and Finance Teams Training Courses -

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Course Methodology

This course uses a mix of exercises, workshops, group case studies, and presentations based on the issues and challenges facing the participants. Conceptual ideas, rules, and best practices will also be discussed in selecting KPIs, process mapping, cost saving techniques and innovative tools.

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 Audience

Professionals in the field of finance and accounting, directors, managers, supervisors, and finance professionals who desire to understand, apply and implement practical tools to enable them to structure and run the finance and accounting departments more effectively.

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

Introducing KPIs: financial and non-financial
- What are KPIs
- The crucial role of KPIs in managing performance
- Designing a KPI measurement system
- How should KPIs 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 knowledge sharing culture
- 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 training courses 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

Accounting and finance process re-engineering
- Definition, elements and characteristics of a process
- Must-haves for each process
- Process approach to improvement of A&F function
- Advantages of process mapping
- The Plan, Do, Check, Act (PDCA) approach
- Types of mapping tools: simple flow charting, Swimlane, SIPOC
- Process-mapping software
- Best practices in process mapping
- Mapping an A&F process
- Value stream maps: value added and non-value added analysis
- Cycle time map: opportunities in terms of reducing cycle time and defects
- Lean thinking to reduce waste in processes
- 5S: a framework to organize and maintain your workplace

Roadmap for innovation in accounting and finance
- Which A&F processes require most time and effort
- Automation opportunities in A&F
  - Utilizing ERP solutions to close time gaps
- Eight essential attributes for innovation
- Steps for innovation and transformation
- Aligning key stakeholders
  - Step 1: Understand the problem
  - Step 2: Enlist champions for the tasks
  - Step 3: Start with the end in mind
- Engaging the organization
  - Step 4: Motivate stakeholders by articulating vision
  - Step 5: Communicate
  - Step 6: Act
  - Step 7: Consolidate

Stakeholders’ satisfaction: internal and external
- A&F internal and external stakeholders
- Why stakeholders’ satisfaction is important
- Using surveys and questionnaires as a tool for improvement
  - Setting the objective of surveys
  - Writing survey questions
    - How to ask
    - What do survey questions tend to measure
  - Sampling methods
  - Administration and analysis of survey results
- The importance of demographics
- Simulation: building a satisfaction survey
  - Customers (A/R), suppliers (A/P), employees (payroll), banks (treasury), budgeting, control, financial reporting and analysis

Achieving realistic cost savings
- Importance of saving costs and improving productivity
  - External reasons for cost reduction and savings
- Advantages and disadvantages of saving costs
- Cost reduction decision table
- Example of capabilities developed by companies to reduce costs
- Strategic and tactical cost actions
- Shared service centers versus centralization versus outsourcing
  - Organizations that would benefit from shared service centers
  - Process of implementing a shared service center
- Cost management scenarios based on company’s situation
  - How to play going forward
- Revenues and cost targets to increase shareholder value
  - Limitations of simple employee lay-offs
  - Use of target costing
  - Control of maintenance, office supplies, theft and lawsuits
- 10 steps to accomplish cost reductions

Meirc Professional Certificate (MPC)

MPC certified courses by Meirc Training and Consulting are designed for those willing to challenge themselves and go the extra distance. Participants who fully attend an MPC course and successfully complete the test on the last day, will receive a Meirc Professional Certificate (MPC), in addition to the one they receive for attendance. MPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.