This GLOMACS training seminar entitled The Oxford Financial Excellence Programme provides business professionals with a deeper understanding of financial management as practiced by today's most powerful companies by demystifying the complex world of finance, and providing the tools and insights that you will need to meet your own professional goals and the greater goals of the organisations you serve.
Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1 and 2 back-to-back as a 2-week training course.
Objectives
By the end of this GLOMACS training seminar, delegates will be able to:
Acquire an understanding of the fundamentals of the successful management of corporate financial performance, from the development of strategy through planning and budgeting to performance monitoring and control
Develop practical experience of the workings of a best practice financial performance management model, and of how to improve corporate financial performance in real-life
Gain the insights required to win in the global marketplace, for example relating to:
Interpreting financial statements
Evaluating financial performance
Financial forecasting
The financing decision
Determining the cost of capital
Evaluating investment opportunities
Managing risk
Raise financial skills
Training Methodology
Using a combination of training seminars, team exercises and individual exercises, delegates will gain both a theoretical and practical knowledge of the topics covered. The emphasis is on the practical application of the topics and as a result, delegates will return to the workplace with both the ability and the confidence to apply the techniques learned.
There will be a strongly participative, learning-by-doing, style, making extensive use of short case studies (both numeric / analytical and non-numeric / descriptive) and syndicates, as well as open plenary discussion sessions.
Some parts of this GLOMACS training course will include short revision / refresher sessions on accounting and DCF basics. Each day will comprise several sessions, introducing new material to build on the learning in the previous sessions.
The training seminar manual will include copies of all the material used.
Organisational Impact
Delegates will develop a set of transferable skills which will improve their powers of financial planning helping the company to increase profit, improve cash flow whilst minimizing costs and risk
Delegates will not only be able to analyse various business problems but will also be able to evaluate various courses of action and make sound recommendations for action using leading software
They will become more aware of the importance of effective planning, budgeting and forecasting making the capital budgeting process more cost effective
Updating delegates with recent developments in risk management
Providing exposure to numerous annual reports and real life cases
Emphasizing the role of risk in decision-making
Personal Impact
Develop an understanding of today’s major issues in international corporate finance and budgeting
Make improved finance and capital budgeting decisions, which will increase your importance to your organization
Be able to identify areas in which they may be able to contribute to improvements in the financial performance of your company which will help improve your career development
An ability to utilise sophisticated investment appraisal techniques
An appreciation of the key items from an annual report and recognition of important ratios and linkages
Recognition of the appropriate tool to manage risk
Who Should Attend?
Staff who wish to gain an up-to-date and broader perspective on how industry leaders continually improve their financial performance, learn about current best practices, and improve their competencies in this area
Financial and non-financial business professionals from all functions of an enterprise
Financial professionals wanting an update or a 'refresher' of their knowledge
Recent company recruits who need to learn about modern corporate financial performance management processes, and develop their competencies in this area
People from outside business who require a thorough conceptual and practical introduction to the performance management processes and techniques adopted by the leading players
Course Outline
MODULE I: Corporate Financial Planning, Budgeting & Control
DAY 1
Corporate Financial Planning
Strategic Planning
The Objective of the Firm – Meeting Shareholder & Stakeholder Objectives
Agency Theory – The Relationship between Shareholders & Management
Creative Accounting and the Case of Enron
Financial Management & Financial Planning – The Scope, Role & Responsibilities of Financial Management
Preparing a Financial Plan – The Master Budget
Forecasting Future Cash-flows and Financial Modelling
Time Series Analysis, Correlation & Regression
DAY 2
Financing the Plan
Sources of Finance – Long Term & Short Term
Evaluation of The Types of Finance - Equity vs. Debt Finance
Hybrid Finance & Financial Engineering
The Dividend Decision
The Cost of Capital and Weighted Average Cost of Capital (WACC)
Capital Asset Pricing Model (CAPM)
Accounting Rate of Return (ARR)
Net Present Value (NPV), Internal Rate of Return (IRR) Capital Rationing & Payback
DAY 3
Preparing & Managing Budgets to Support the Financial Plans
Definition of Budgets, the Budgetary Process and Budgetary Control
Types of Budgets-Fixed, Flexible, Incremental and Zero Based
The Purpose / Benefits & Problems / Limitations of Budgets
Setting / Implementing Effective Budgets - Eliminating the Problems
Responsibility Accounting and Absorption Costing
Activity-Based Budgeting / Costing (ABB, ABC)
Variance Analysis, Cost Behaviour, Break Even Analysis & Sensitivity / What If Analysis
What-If Analysis combined with Du-Pont Analysis
DAY 4
Managing and Controlling Cash Flow to Support the Financial Plan
Cash vs. Profit & The Cash Conversion Cycle
Calculating and Managing the Cashflow Cycle
Cash Flow Ratios
Working Capital
The Cost of Maintaining Working Capital
Maintaining The Optimum Level of Working Capital
Working Investment Ratios
Preparing a Monthly Cash Flow Forecast
DAY 5
Managing Financial Risk
Risk Management & Types of Risk
Identifying Risk – SWOT Analysis
The Major Quantitative & Qualitative Risks Facing Companies
Establishing a Risk Management Strategy
Financial Risk Management & Hedging Techniques
Managing Exchange Rate & Interest Rate Risk
Derivatives-Forwards, Futures, Options & Swaps
Risk Management Glossary of Terms
MODULE II: The Oxford 5-Day MBA in Finance
DAY 6
An Introduction to the Financial Markets
An Introduction to the Equity Markets
IPO
Market Indices
International Equity Market Links
An Introduction to Bond Markets
Long Term vs. Short Term
Treasury vs. Corporate
Types of Bond
An Introduction to the FX market
The Spot and Forward Market
Exchange Rate Trends and Linkages
Carry Trades
An Introduction to the Derivatives Market
Futures
Options
The Link between Risk and Return
DAY 7
Evaluating Investment Opportunities
The Markowitz Model of Portfolio Risk
The Capital Asset Pricing Model
A Practical Application of the CAPM to a range of companies
The Time Value of Money and Discounted Cash Flow Techniques
The Gordon Growth Model
A Practical Application of Forecasting Dividends
Determining the Cost of Debt
The Weighted Average Cost of Capital (WACC)
The Ameritrade Case
Investment Appraisal using the Net Present Value Approach
The Importance of the Cost of Capital
Scenario Analysis
Payback and Adjusted Payback
The Internal Rate of Return (IRR) approach
A Practical Application of the IRR Approach
Pitfalls in using the IRR Approach
Real Options
DAY 8
A Walk through An Annual Report
The Balance Sheet
The Income Statement
The Cash Flow Statement
Ratio Analysis
A Practical Application of Ratio Analysis
Apple vs. Microsoft
Next vs. Tesco
Easyjet vs. British Airways
Forecasting Sales
The Cost of Sales Approach
DAY 9
The Corporate Financing Decision
Financial Leverage
Modiglianni and Millers Theory of Capital Structure
The Risk of Bankruptcy
The Optimal Capital Structure
The Dividend Decision
The Clientele Effect
The Taxation Effect
The Principal Agent Problem
The Market for Corporate Control
DAY 10
Risk Management
Hedging Exchange Rate Risk using
The Forward Market
The Options Market
Zero Cost Collars
Hedging Commodity Price Risk using
Options
Futures
Practical Application of Airlines Hedging Fuel Price Risk - The importance of correlation
Certificates
On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance
Providers and Associations
Endorsed Education Provider
GLOMACS is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org
In Association With
Oxford Management Centre
A GLOMACS - Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients.
This GLOMACS training seminar entitled The Oxford Financial Excellence Programme provides business professionals with a deeper understanding of financial management as practiced by today's most powerful companies by demystifying the complex world of finance, and providing the tools and insights that you will need to meet your own professional goals and the greater goals of the organisations you serve.
Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1 and 2 back-to-back as a two-week training course.
Objectives
By the end of this GLOMACS training seminar, delegates will be able to:
Acquire an understanding of the fundamentals of the successful management of corporate financial performance, from the development of strategy through planning and budgeting to performance monitoring and control
Develop practical experience of the workings of a best practice financial performance management model, and of how to improve corporate financial performance in real-life
Gain the insights required to win in the global marketplace, for example relating to:
Interpreting financial statements
Evaluating financial performance
Financial forecasting
The financing decision
Determining the cost of capital
Evaluating investment opportunities
Managing risk
Raise financial skills
Training Methodology
Using a combination of training seminars, team exercises and individual exercises, delegates will gain both a theoretical and practical knowledge of the topics covered. The emphasis is on the practical application of the topics and as a result, delegates will return to the workplace with both the ability and the confidence to apply the techniques learned.
There will be a strongly participative, learning-by-doing, style, making extensive use of short case studies (both numeric / analytical and non-numeric / descriptive) and syndicates, as well as open plenary discussion sessions.
Some parts of this GLOMACS training course will include short revision / refresher sessions on accounting and DCF basics. Each day will comprise several sessions, introducing new material to build on the learning in the previous sessions.
The training seminar manual will include copies of all the material used.
Organisational Impact
Delegates will develop a set of transferable skills which will improve their powers of financial planning helping the company to increase profit, improve cash flow whilst minimizing costs and risk
Delegates will not only be able to analyse various business problems but will also be able to evaluate various courses of action and make sound recommendations for action using leading software
They will become more aware of the importance of effective planning, budgeting and forecasting making the capital budgeting process more cost effective
Updating delegates with recent developments in risk management
Providing exposure to numerous annual reports and real life cases
Emphasizing the role of risk in decision-making
Personal Impact
Develop an understanding of today’s major issues in international corporate finance and budgeting
Make improved finance and capital budgeting decisions, which will increase your importance to your organization
Be able to identify areas in which they may be able to contribute to improvements in the financial performance of your company which will help improve your career development
An ability to utilise sophisticated investment appraisal techniques
An appreciation of the key items from an annual report and recognition of important ratios and linkages
Recognition of the appropriate tool to manage risk
Who Should Attend?
Staff who wish to gain an up-to-date and broader perspective on how industry leaders continually improve their financial performance, learn about current best practices, and improve their competencies in this area
Financial and non-financial business professionals from all functions of an enterprise
Financial professionals wanting an update or a 'refresher' of their knowledge
Recent company recruits who need to learn about modern corporate financial performance management processes, and develop their competencies in this area
People from outside business who require a thorough conceptual and practical introduction to the performance management processes and techniques adopted by the leading players
SEMINAR OUTLINE
MODULE I: Corporate Financial Planning, Budgeting & Control
DAY 1
Corporate Financial Planning
Strategic Planning
The Objective of the Firm – Meeting Shareholder & Stakeholder Objectives
Agency Theory – The Relationship between Shareholders & Management
Creative Accounting and the Case of Enron
Financial Management & Financial Planning – The Scope, Role & Responsibilities of Financial Management
Preparing a Financial Plan – The Master Budget
Forecasting Future Cash-flows and Financial Modelling
Time Series Analysis, Correlation & Regression
DAY 2
Financing the Plan
Sources of Finance – Long Term & Short Term
Evaluation of The Types of Finance - Equity vs. Debt Finance
Hybrid Finance & Financial Engineering
The Dividend Decision
The Cost of Capital and Weighted Average Cost of Capital (WACC)
Capital Asset Pricing Model (CAPM)
Accounting Rate of Return (ARR)
Net Present Value (NPV), Internal Rate of Return (IRR) Capital Rationing & Payback
DAY 3
Preparing & Managing Budgets to Support the Financial Plans
Definition of Budgets, the Budgetary Process and Budgetary Control
Types of Budgets-Fixed, Flexible, Incremental and Zero Based
The Purpose / Benefits & Problems / Limitations of Budgets
Setting / Implementing Effective Budgets - Eliminating the Problems
Responsibility Accounting and Absorption Costing
Activity-Based Budgeting / Costing (ABB, ABC)
Variance Analysis, Cost Behaviour, Break Even Analysis & Sensitivity / What If Analysis
What-If Analysis combined with Du-Pont Analysis
DAY 4
Managing and Controlling Cash Flow to Support the Financial Plan
Cash vs. Profit & The Cash Conversion Cycle
Calculating and Managing the Cashflow Cycle
Cash Flow Ratios
Working Capital
The Cost of Maintaining Working Capital
Maintaining The Optimum Level of Working Capital
Working Investment Ratios
Preparing a Monthly Cash Flow Forecast
DAY 5
Managing Financial Risk
Risk Management & Types of Risk
Identifying Risk – SWOT Analysis
The Major Quantitative & Qualitative Risks Facing Companies
Establishing a Risk Management Strategy
Financial Risk Management & Hedging Techniques
Managing Exchange Rate & Interest Rate Risk
Derivatives-Forwards, Futures, Options & Swaps
Risk Management Glossary of Terms
MODULE II: The Oxford 5-Day MBA in Finance
DAY 6
An Introduction to the Financial Markets
An Introduction to the Equity Markets
IPO
Market Indices
International Equity Market Links
An Introduction to Bond Markets
Long Term vs. Short Term
Treasury vs. Corporate
Types of Bond
An Introduction to the FX market
The Spot and Forward Market
Exchange Rate Trends and Linkages
Carry Trades
An Introduction to the Derivatives Market
Futures
Options
The Link between Risk and Return
DAY 7
Evaluating Investment Opportunities
The Markowitz Model of Portfolio Risk
The Capital Asset Pricing Model
A Practical Application of the CAPM to a range of companies
The Time Value of Money and Discounted Cash Flow Techniques
The Gordon Growth Model
A Practical Application of Forecasting Dividends
Determining the Cost of Debt
The Weighted Average Cost of Capital (WACC)
The Ameritrade Case
Investment Appraisal using the Net Present Value Approach
The Importance of the Cost of Capital
Scenario Analysis
Payback and Adjusted Payback
The Internal Rate of Return (IRR) approach
A Practical Application of the IRR Approach
Pitfalls in using the IRR Approach
Real Options
DAY 8
A Walk through An Annual Report
The Balance Sheet
The Income Statement
The Cash Flow Statement
Ratio Analysis
A Practical Application of Ratio Analysis
Apple vs. Microsoft
Next vs. Tesco
Easyjet vs. British Airways
Forecasting Sales
The Cost of Sales Approach
DAY 9
The Corporate Financing Decision
Financial Leverage
Modiglianni and Millers Theory of Capital Structure
The Risk of Bankruptcy
The Optimal Capital Structure
The Dividend Decision
The Clientele Effect
The Taxation Effect
The Principal Agent Problem
The Market for Corporate Control
DAY 10
Risk Management
Hedging Exchange Rate Risk using
The Forward Market
The Options Market
Zero Cost Collars
Hedging Commodity Price Risk using
Options
Futures
Practical Application of Airlines Hedging Fuel Price Risk - The importance of correlation
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