Finance for the Non-Financial Directors & Managers

SPEAKERS


Mark


Mark has over 20 years banking experience the majority of which was front-office based. He has held a number of line and strategic positions in international banks in the City of London, where he developed an expertise in lending to and assessing the strength of international financial institutions.

He then became a senior risk manager and FSA registered MLRO for the London operations of a European bank. Out and Out Answers Ltd is a specialised vehicle for delivering AML/ prevention of financial crime advice to those UK professionals (solicitors and accountants etc) and firms governed by the Proceeds of Crime Act 2002 and the 3rd EU AML directive (high value dealers, estate agents etc).

In addition, he has been invited back onto the Accountancy TV Channel to discuss the impact of the 3rd EU Anti-Money Laundering directive on accountants practicing in the UK.

Specialties:
 FATF AML Specialist
 Expert on implementing the 3rd EU AML Directive
 POCA 2002
 Finance for Non Finance Managers
 Corporate Governance
 Independent reviews AML systems
 Risk based AML & Financial Crime
 Risk based AML Training
 AML coaching support for incumbent CEOs and MLROs
 FSA Financial Crime Compliance
 Data Protection Compliance
 Risk based AML implementation and controls
 Impact assessments of risk based AML on a firm’s existing systems
 Captivating speaker.

This three-day Master Class is a highly interactive and participative workshop that is designed to give senior executives an understanding of, and the practical ability to use, the key business financial skills to improve their business decision making.

This Master Class uses a combination of participative seminars, discussions, case studies and problem solving to ensure that delegates learn and develop the confidence to use the various principles and techniques.

Who Should Attend Finance for the Non-Financial Manager?

 Executive Management
 Strategy Directors / Heads
 Business Owners / Managing Directors
 Operations Directors
 Operations Managers / Supervisors
 Executive Assistants / Executive Personal Assistants
 Commercial Managers
 Team Leaders / Supervisors
 General Managers
 Functional Leads
 Project Mangers / Directors
 Business Analysts / Consultants
 Procurement Professionals
 Change Managers and Consultants
 Administration Managers
 Management Consultants
 Finance Support Staff
 Plus anyone who requires a fundamental understanding of business finance.

By Attending This Highly Interactive Master Class You Will Be Equipped With The Skills to:

 Understand fundamental business finance concepts; understand, analyse and interpret financial statements: Profit Statement, Balance Sheet and Cashflow Statement
 Understand the vital difference between profit and cashflow; identify the key components of working capital and how they can be managed to generate strong cashflow
 Use powerful analytical tools to measure and improve the performance of their own company and assess the effectiveness of their competitors
 Understanding the Structure of Financial Statements
 Analysis of Financial Statements: Ratio Analysis
 Definition, Rationales and History of Integrated Reporting
 King Report on Corporate Governance
 The International Integrated Reporting Framework
 Interaction and Linkages with Other Reporting Frameworks

Training Methods

 This three-day Class is a highly interactive and participative workshop that is designed to give senior executives and understanding of and the practical ability to use the key business financial skills to improve their business decision making.

AGENDA & PROGRAM

Program Outline

Module 1: Understanding Financial Statements by Non-Finance Directors

Structure of Financial Statements
Complete Set of Financial Statements
Basic Financial Statements
What Statements Are Required
Titles of Statements
Location of Statements
Alternative Statements
Basic Formats and Alternatives of Each Statement
Reading of the Financial Statements by General Users
How to Read the Statement of Comprehensive Income
How to Read the Statement of Financial Position
How to Read the Statement of Cash Flows
How to Read the Statement of Changes in Equity
Analysis of Financial Statements: Ratio Analysis
Different Readings of Financial Statements by Other Stakeholders

Module 2: Background of Integrated Reporting

 Definition of Integrated Reporting
 Rationales for Integrated Reporting
 History of Integrated Reporting
 The International Integrated Reporting Council (IIRC)
 Structure of the IIRC
 The IIRC Pilot Programme
 King Report on Corporate Governance
 Integrated Reporting Key Dates
 The IIRC’s Next Steps and Critical Path

Module 3: Integrated Reporting Framework

 The International Integrated Reporting Framework

o The fundamental Concepts

 Business Model
 Capitals
 Value Creation

o The Guiding Principles

 Strategic focus and future orientation
 Connectivity of information
 Stakeholder responsiveness
 Materiality and conciseness
 Reliability and completeness
 Consistency and comparability

o Content Elements
 Organizational overview and external environment
 Governance
 Opportunities and risks
 Strategy and resource allocation
 Business model
 Performance
 Future outlook

o Preparation and Presentation

 Frequency of reporting
 The materiality determination process
 Disclosure of material matters
 Involvement of those charged with governance
 Credibility
 Time frames for short, medium and long term
 Reporting boundary
 Aggregation and disaggregation
 Use of technology
 Examples of Integrated Reporting

Module 4: Interaction and Linkages with Other Reporting Frameworks

 Financial Reporting Frameworks
o IASB Framework, the U.S. Concepts and the Common Framework
o Financial Information vs. Financial Reporting vs. Financial Statements
o Objectives of Financial Statements
o Underlying Assumptions
o Users of Financial Statements and Information Needs
o The Role of Accountability and Stewardship
o The MOU between the IIRC and the IFRS Foundation
o The Concept of Materiality: Integrated vs. Financial Reporting
 The IFRS Practice Statement on Management Commentary
 The Disclosure Framework and the Debate on Reporting Burden
o FASB and the Center for Audit Quality (CAQ), Forum Observations

Summary

o FASB Invitation to Comment, Disclosure Framework
o The EFRAG Discussion Paper, July 2012
 Sustainability Reporting
 OECD Principles of Corporate Governance
 COSO Enterprise Risk Management— Integrated Framework and COSO Internal Control - Integrated Framework
 Stakeholder Management

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