2018 finance academy curriculum - pwc.com€¦ · 2018 finance academy curriculum ... financial...

PwC’s Business School2018 Finance AcademyCurriculum

www.pwc.com/ng

Schedule of Topics 2018

Venue: Landmark Towers, 5B Water Corporation Drive, Oniru, Victoria Island, Lagos

Date Courses Duration

January 2018

22Monday

Finance and Accounting for Non Finance Professionals

1 Day

23-24Tuesday-Wednesday

Treasury Management and Working Capital Management

2 Days

Tuesday-Wednesday23-24 Organising and Managing Accounts

Payable 2 Days


Receivable 2 Days

Fixed Asset Management 1 Day25Thursday

26Friday

Financial Statement Analysis and Interpretation

1 Day




February 2018

19Monday

Finance and Accounting for Non Finance Professionals 1 Day



2 Days


Payable 2 Days


Receivable 2 Days

Cash Management Best Practices and Techniques

1 Day22Thursday

23Friday

Payroll Management and Effective Payroll Controls

1 Day




March 2018

19Monday


1 Day



2 Days


Payable 2 Days


Receivable2 Days

Risk Management & Governance 1 Day20Tuesday

21Wednesday

Credit Risk Management 1 Day

22Thursday

Fixed Asset Management 1 Day

23Friday

Budgeting & Budgetary Control Methods

1 Day

2018 Finance AcademyOur Curriculum Details



1Basic financial terminologies and key accounting concepts

1. Introduction to basic accounting2. Introduction to Cost accounting3. Working Capital management

The key financial statements (Profit or loss, Balance sheet, Cash flows etc.) 2

1. Introduction to key Financial statements

Financial accounting3

1. Overview of financial accounting2. Financial accounting vs Communication of information

Management accounting4

1. Introduction to management accounting2. Components of Management accounting

Financial reporting

1. Understanding what Financial reporting is.2. Accounting and reporting on a cashflow and accrual basis3. Implications for accountants

5

Financial statement analysis6

Budgeting7

1. The overview of budgeting

Treasury management8

1. Introduction to Treasury management2. Treasury Framework (components)3. Operations and Control

1. Understanding Ratio analysis2. Risk exposure3. Financial performance analysis; Trend analysis, Comparative analysis, Cashflow analysis, Ratio analysis, Inter-firm analysis

Introduction to Investment appraisal methods9

1. Investment appraisal

Training Topics

To raise the level of financial awareness of participants and enable them to use the financial information provided to make better short-term or long-term decisions in managing their businesses.

By the end of the workshop participants will: 1. Gain an understanding of business finance and the language used by accountants and those in finance.2. Understand basic accounting concepts and the flow of money in an organisation.

Course Objectives1. This course assumes that you either work in a business, or have entrepreneurial ambitions to control your own business2. People wanting a career in a Finance department.3. Entrepreneurs4. Non-accounting executive who needs to understand more about the Company’s finances

Target Audience

Course Pre-requisite: Prior knowledge of Accounting /Finance is not required. However, basic business knowledge could be a plus

Financial Statement Analysis and Interpretation


1Introduction to financial reporting and analysis

1. Generally accepted accounting principles (GAAP) or IFRS 2. Interpretation of auditors report3. Assessing reporting quality - sample company case study4. Wrap-up : Overall framework for analysing financial reports

Organisation of information in financial statements2

1. Elements of financial statements 2. In-depth assesment of elements 3. Assets, Liabilities and Equity

Business strategy analysis3

1. Interpreting financial statements (Income Statement, Profit and loss)

Financial analysis4

1. Financial statement analysis (balance sheet, income statement, statement of cash flows, statement of stockholders equity)

Forecasting

1. Trend Analysis2. Comparative Analysis3. Common size statement 4. Inter firm analysis5. Cash flow analysis

5

Valuation methods and ratios6

1. Computing financial ratios and ratio analysis

Training Topics

This course will provide participants with an understanding of the inter-relationship with financial statements line items and be able to understand how the figures that are being prepared may be interpreted or analyzed. In addition, participants will:

1. Understand the relation between the expected return and risk of investment alternatives and the role financial statement analysis plays in providing information about returns and risk.2. Understand the need to recognize the scale of operations in analyzing performance. Scale is incorporated by the use of ratios.3. Understand the usefulness of return on equity (ROE) and return on assets (ROA) as measures of profitability, and the relation between these two measures4. Understand the distinction between short-term liquidity risk and long-term liquidity risk and the financial ratios used to assess each.5. Develop skills to compare performance both over-time and across-firms. (Trend analysis, Comparative analysis etc)6. Develop skills to prepare pro forma financial statements.

Course ObjectivesFinance & Accounting executives

Target Audience

Course Pre-requisite: Basic knowledge of Finance and Accounting



1 Introduction to Treasury

1. The components of Treasury Framework 2. Best practises in international treasury and current trends3. Treasury reporting requirements4. Treasury operations and controls5. Preparing cash flow statements6. How Treasury has evolved since the financial crisis7. Foreign Exchange and Interest Rates Risk Management

Introduction to Working Capital2

1. Overview of working capital management2. Working capital management performance measures3. The components of Working Capital4. Working Capital Cycle5. Working Capital Versus Cash Management

Working Capital Management Performance Measures3

1. Using ratio analysis - Liquidity Ratios, Working capital turnover ratio etc2. Importance of working class management3. Raising finance - debt versus equity4. The weighted average cost of capital (WACC)5. Banking and liquidity management6. Financial strategy and the cost of capital

Treasury organisation and treasury techniques

4

1. Best practices in internatioanl treasury and current trends2. Effective internal controls and governance in the treasury function3. Aligning treasury strategy with organisational goals4. Treasury as strategic financial advisers to the organization5. Investment strategies; passive, active, matching, outsourcing and risk-reduction6. Areas where treasury takes a leading role, including bank relationship management; short and long-term borrowing and financial risk management

Treasury Risk Management

1. Market risk2. Liquidity risk3. Currency risk4. Management of Treasury risks in a finance function

5

Training Topics

Course ObjectivesThis course will benefit personnel in?Domestic treasury of Banks?Interest rate risk desk of corporate treasuries?Asset management companies with fixed—Income funds?Internal auditors of fixed—Income securities operations.

?CFOs?Treasurers of mid to large sized organisations

Target Audience

Course Pre-requisite: Basic Knowledge in Finance, experience in treasury management

In the radically changing economic environment, treasury is both central and critical to many of the key tasks facing a CFO – managing FX risks, ensuring availability of credit, driving working capital efficiency and restructuring banking relations to work in a shared services environment.

Objectives:1. To enhance the requisite knowledge and professional skills of treasury managers;2. To analyse the changing role of treasury function in banks and financial institutions in the competitive environment;3. To examine various strategies for improving treasury operations; and4. To visualize further developments in treasury function.

Organising and Managing Accounts Payable


1Overview of Purchase-to-pay Process

1. Procurement Process

Supplier Sourcing and Performance Management2

1. Vendor Management2. Supplier Sourcing

Master Data Management3

1. Functional Description

Purchase Requisition and Order Processing4

1. Purchase Requisition/ Order Processing2. Receiving, Invoice Processing and Payment3. Travel and Expenses4. Payment

Key controls within a standard Purchase-to-Pay process

1. Key risks and controls (Risk, Impact of Risk, Controls)

5

Features of a leading Practice Purchase-to-Pay (P2P) process6

Accounts Payable Accounting and Reporting7

1. Overview2. Journal Entries Related to Accounts Payable3. Accounts Payable Financial Metrics4. The Accounts Payable Turnover APT metric measures payoff frequency5. The Days Payable Outstanding DPO metric measures payoff duration6. Which other financial metrics reflect the Accounts payable balance?7. Accounts Payable Reports

Identifying cost saving opportunities within a Purchase-to-Pay process8

1. Identifying Cost Savings Opportunities2. Benefits of process excellence and optimised controls

1. Common Challenges of P2P Process

Case Study9

Winterfell & Co Limited

Training Topics

This course covers the critical activities and building blocks for implementing an effective 'Payables Management' system. Attendees would explore key policies, people, technology requirements, 'Purchase-to-Pay' sub processes, etc. and learn about the critical success factors that need to be in place for their 'Purchase-to-Pay' management process to be effective.

By the end of this training, participants will be able to design and implement effective 'Purchase-to-Pay' policies and Procedures that will help their company mitigate risks and contribute to cash flow management.

Course Objectives1. Accounts Payable Managers2. Procurement Managers3. Other Finance & Accounting Executives

Target Audience


Organising and Managing Accounts Receivable


1Overview of the Order to Cash process

1. Order-to-Cash taxonomy2. Order-to-Cash process consists of the ordering, accounting and receivable processes3. Order Processing4. Order Fulfilment5. Invoice to cash

Common issues that occur within the Order-to-Cash cycle2

1. Typical issues of the Order-to-cash process

Features of a leading practice Order-to-Cash process3

1. Order Processing 2. Invoicing3. Collection and Account Receivable Management4. Credit Management5. Cash Application6. Customer Service and dispute management

Identified risks and related controls within the Order-to-Cash process4

1. Categories of Order to Cash control activities2. Risks and controls in the Ordering process3. Risks and controls in the Invoicing process

Account Receivable accounting and reporting

1. Leading practices in the Account Receivables process2. Accounting Treatment3. Relevant IFRS

5

Case Study, Experience Sharing & What PwC Can do.6

1. Angus & Co Limited

Training Topics

Delegates will learn the critical success factors for an effective Order-to-Cash process management. This would include key policies, key people, technology requirements, Order-to-Cash sub processes, etc.

By the end of this training, participants will be able to design and implement effective Order-to-Cash policies and Procedures that will help their company improve recovery of receivables, mitigate risks and contribute to cash flow management.

Course Objectives1. Accounts Receivable Managers2. Other Finance & Accounting executives

Target Audience


Fixed Asset Management


1 Introduction to Asset management

1. What is Asset Management

Why Fixed assets must be managed2

1. How to manage fixed assets? (e.g. location, quantity, condition, depreciation)2. Importance of fixed asset management3. Fixed asset tracking4. Asset life cycle management

Tools and techniques3

1. Fixed asset management software2. Fixed asset register3. Physical Verification of fixed assets

Standard Fixed asset Control Procedures4

1. Regulation and compliance2. Establishing Standard Operating Practices (SOPs) and Internal Control3. Asset analysis

Training Topics

Delegates will learn the importance of good fixed asset information for managing company performance, this training will teach the skills, information and insights on how to make the fixed asset function a key to enhancing the company's return on fixed assets.

Participants will learn how to make the fixed asset database accurate, how to get the cooperation of line managers and how to provide essential data for a wide range of reporting needs.

Course Objectives1. Accounts Receivable Managers2. Other Finance & Accounting executives

Target Audience


Cash Management Best Practices and Techniques


1 Overview of cash management

1. What is cash management?2. Functions of cash management3. Components of cash management

Cash flow management2

1. Introduction to cash flow management2. Preparing and understanding cash flow statements & financial forecast3. Linking cash flow forecasting with working capital management4. Improving cash flow management through efficient structure5. Using cash flow management to enhance shareholders value

Financial strategy and cost of capital3

1. Introduction to cost of capital2. Weighted average cost of capital (WACC)3. Cost of debt4. Capital structuring5. Case study on cost of capital

Investment appraisal and valuation4

1. Introduction: why appraise investments?2. Appraisal process3. Appraisal methodologies4. Assessing a project5. Making the business case

Training Topics

This course emphasizes to your employees the management of current assets and current liabilities. It covers planning a firm's overall level of liquidity, stressing cash management and credit policies.

Employees will also understand cash flow life cycle, ways to optimize cash flow, maximize profit & minimize risks and other cash forecasting techniques

Participants will also understand investment appraisal from setting up the spreadsheet through to making the investment decision. We will cover payback period, ROI, NPV, IRR and making the business case.

Investment Appraisal Objectives:1. Be able to assess a project from a financial point of view2. Understand what’s expected of you and how the process of project appraisal works3. Be able to use appraisal methodologies such as payback period, ROI, NPV and IRR4. Make a compelling business case

Course ObjectivesThis course is specifically designed for the following:1. Bankers, 2. Corporate Treasurers, 3. Operation managers and 4. Finance professionals5. Business contractors/supplierswho require an understanding of the essentials of cash management or need to refresh or expand their knowledge.

Target Audience

Course Pre-requisite: knowledge skill level on accounting and financial management.

This course is the ideal precursor for our intermediate level training courses. A zero knowledge to mid-level managers



1 Payroll Environment

1. Types of payroll systems2. How to effectively run your payroll department/office3. The acts that govern payroll4. Integration with company policies5. Responsibility of the payroll administrator6. Internal payroll audit

Payroll Management2

1. Definition of an employee and how an employee designation impacts payroll2. Employee time management and tracking3. Employee compensation4. Additional employee benefits5. Types of deductions and why they are used6. Ethical considerations in the payroll function7. Linking payroll with the HR (Human Resource) function8. Setting up your payroll division

Training Topics

The efficient management of the payroll function is crucial for any business with multiple employees. It is an aspect that requires attention to detail and careful observation of the regulatory environment. The integration of the payroll function with the finance and human resource departments further contributes to the operational management of a successful organisation.

This intensive 1-day training course gives a comprehensive understanding of the principles of payroll management and effective controls with a strong emphasis on practical application in the working environment. Whether you are seeking to manage these functions within your organisation or to diversify your skillset for career progression, this training course will provide you with the skills and knowledge needed to perform the vital function of payroll management and the effective implementation of controls.

You will find value in taking this training course by formalising and updating your skills and learning the most up-to-date processes and best practices involved in the payroll function.

Participants will develop the following competencies:

1. Understanding the payroll regulatory and compliance environment2. Confidence in managing the payroll department3. Skills to identify risk and implement controls4. Ability to integrate the payroll division with the HR and finance department

Course Objectives

1. How to effectively run a compliant payroll office2. Practical payroll implementation3. How to generate information and reports for internal and external use4. How to plan, organize, implement and monitor work within the payroll environment5. Integration of payroll into the HR and finance departments6. Mitigating risk and implementation of controls7. Performance of internal and external payroll audits

Course Objectives1. Payroll administrators who wish to enhance their payroll knowledge and application2. Human Resource professionals who wish to gain a better understanding of the payroll system and how it is integrated into the corporate human resource environment3. Accountants who wish to diversify their skillset for career progression

Target Audience


Effective Payroll Controls

1. Protection of personal information2. What are internal controls?3. Identifying risks in the payroll cycle4. Implementation of payroll controls5. Evaluating payroll controls6. Outsourcing arrangements and responsibilities7. Common mistakes and how to avoid them

5

Corporate Integration4

1. Linking payroll with company finance department2. Recording of payroll transactions in the accounting records3. Application of payroll accruals4. Common payroll measurements and how they are used5. Contents of the various payroll reports and how to use them6. How to utilise payroll reports for problem solving7. Payroll and external audit procedures


Training Topics


Practical Payroll Implementation3

1. The key steps involved in payroll activities.2. Creating cost centres, pay points and job codes3. Maintaining employee data4. Processing leave5. Setting up payslips and ensuring regulatory compliance6. Capturing overtime and additional payment information7. Making amendments and accounting for specific transactions8. Updating to new pay period and month-end procedures

Credit Risk Management


1Introduction to Credit Risk Management (CRM)

1. Overview of credit risk management2. Credit risk management framework3. Risk management organisation (RMO)4. Hierachy to set credit procedures5. Credit policy development framework

Credit risk ratings2

1. Monitoring and control framework2. Types of credit risk rating processes3. Decision support model4. Benefits of risk rating

Classical vs modern approach to CRM3

1. Classical approach to CRM2. Modern approach to CRM

Credit portfolio management (CPM)4

1. Portfolio stress testing2. Objectives of credit portfolio management (CPM)3. Components of credit portfolio management4. Roles & responsibilities for portfolio manager5. Portfolio performance evaluation6. Metrics for managing a portfolio

Training Topics

This course introduces advanced analytical and structuring techniques for assessing, limitingand offsetting credit risks. This advanced credit risk training course will enable delegates to manage and employ the tools used in credit risks & credit analysis to assess individual, sector and portfolio credit risks.

At the end of the course, delegates will be able to manage and contribute to the process by which credit decisions are made and help to decide which critical risk factors are relevant to their marketplace.

They will be comfortable assessing the sources of finance available to companies and understand the relationship between gearing and leverage and how they can be managed to achieve different financial performance and debt servicing outcomes.

Course ObjectivesMiddle Managers in Oil and Gas Finance Functions

Target Audience

Course Pre-requisite: Basic knowledge of finance and risk management

Risk Management & Governance


1Overview of Purchase-to-pay Process

1. Importance and aim of risk management2. Historical development of risk frameworks and standards

Risk and organisational culture2

1. Enterprise risk management2. Risk management policies3. Risk financing and transfer

Training Topics

This course will explain the legal and compliance background to risk management and explain the core principles and processes of managing risks. Employees will learn the following:1. Understand benefits of risk management in a company2. Provide participants with understanding of the influence of risk management on the quality of corporate governance3. Determine responsibilities and job description of risk management specialists4. Explore in details risk management process according with the best practices and perspectives of developing markets5. Examine in details basic methods of risk management process

The following are specific benefits to your company as employees are equipped on learning preventive risk management skills:1. How to identify risks that are not apparent2. Trained staff are able to provide insights and support to Board of Directors3. Obtain credit from regulatory agencies for cooporation4. With a preventive risk mitigation system in place, the company can build a better defense to litigation cases.5. Reducing litigation risk upfront makes the company a more attractive investment.6. Preventative risk management programs provide greater insight into insurance, indemnity and liability issues and allow the company to better focus and structure its inquiry.

Course Objectives1. Managers and specialists of: - HR, - Sales, - Marketing, - Finance, - Client service, - Production, - Procurement, and - IT departments who are interested in enhancement of company stability through effective risk management.

2. Heads and specialists of : - Risk management, - Internal audit, - Internal control and - Supervision departments oriented to implementation and evaluation of effective risk management system

3. Risk officers4. Certified public accountants5. Certified fraud examiners6. Compliance officers7. Etc.

Target Audience

Course Pre-requisite:1. Basic knowledge of finance and control2. Basic internal and external audit knowledge.3. Basic business and financial risk awareness.

Risk management principles and techniques3

1. Management reporting and balanced scorecards2. Risk variability and uncertainty3. Risk mitigation and retention4. Portfolio diversification5. Classification of risks

Emerging risk areas4

1. Globalisation2. Technology, cyber risk and data security3. Reputational risk4. Terrorism and geopolitical risk

Risk Management & Governance

Training Topics

Course Pre-requisite:1. Basic knowledge of finance and control2. Basic internal and external audit knowledge.3. Basic business and financial risk awareness.

Predicting commodity prices and assessing impact

1. Predicting commodity prices and assessing impact

5

Risk appetite and risk control structures7

1. Control assurance reporting2. Ownership of risk

Compliance and control9

1. Compliance and control overview

1. Common types of financial risks2. Case study - Kodak

Strategy and business risk8

COSO framework - practical applications6

1. COSO Integrated framework2. Risk assessment3. Control environment4. Control activities5. Information and communication6. Monitoring activities7. Case study - practical applications

Corporate Governance10

1. Implementing an effective risk management framework

Budgeting & Budgetary Control Methods


1 Overview of Budgeting

1. The basic concepts of budget and budgeting2. Budgeting procedures and budget administration3. Components of operating budget (sales budget, production budget, production cost budget, ending inventory budget, cost of goods sold budget, selling expenses budget, adminstrative expenses budget and budgeted income statement)

Approaches to Budgeting2

1. Methods and selection rationale (e.g bottom up, top down, roll over, historical, zero-based budgeting)2. Budgeting approaches

Training Topics

This course aims to strengthen Senior Management's understanding of the budgeting process; its different methods and how to measure performance. Participants will learn how to prepare budgets and how to link budgets to the organisation's overall strategy.

Course ObjectivesFinance & Accounting Executives

Target Audience

Course Pre-requisite: Basic knowlede of finance and accounts

Types of Budgets3

1. Multi-year considerations2. Methods for developing budget assumptions3. Budget justifications4. Budget consolidation5. The preparation of operating budgets6. The preparation of financial budgets

Budgetary Control4

1. Budget control and monitoring2. The basic concepts of budgetary control3. The process of budgetary control4. Budgetary variance5. Management reserve6. Budget versus actual performance measurement7. Budget revisions8. Budgeting and variance analysis

Class Acitivities

1. Review case study2. Building a example budget3. Flexible budget calculator; Sensitivity analysis calculator; Cash flow calculator

5

Register and learn from the best!

For booking and enquiries please contact:

Sophia SuleT: +234 808 974 9819E: [email protected]

Belinda EnenmoT: +234 906 408 5168E: [email protected]

[email protected]

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 158 countries with more than 236,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more by visiting us at www.pwc.com/ng

© 2017 PricewaterhouseCoopers Limited. All rights reserved. In this document, PwC refers to PricewaterhouseCoopers Limited (a Nigerian limited liability company), which is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity.

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2018 finance academy curriculum - pwc.com€¦ · 2018 finance academy curriculum ... financial...

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