CFO培训
- 1. BUSINESS CONTROL & YOU -- THE CFO PERSPECTIVE
- 2. OUTCOMES FOR YOUTake Business Process Control Basics and Establish a CFO Perspective Leave with Helpful Tools
- 3. WHAT IS BUSINESS CONTROL?Accounting VerificationsSecurity and LocksInternal and External AuditChecklistsSignaturesAny action taken by management to enhance the likelihood that company objectives and goals will be achieved on a sustained basis
- 4. ELEMENTS OF BUSINESS CONTROLRisk ManagementCorporate CultureProcesses and SystemsMonitoring
- 5. DRIVING FLAWLESS EXECUTIONBusiness control drives achievement of goals!CORPORATE CULTURERISK MANAGEMENTPROCESSES & SYSTEMSMONITORINGManagementACHIEVEMENT OF COMPANY GOALS & OBJECTIVESEmployees
- 6. WHERE DO YOU FOCUS?Tax ComplianceDisaster RecoveryAccounts PayableAccounts ReceivableAR CollectionsSales RecognitionFacilities SecurityContract ManagementEnvironmental ComplianceSafety EngineeringHealth & SafetyFixed AssetsCredit FinancingInventoryPurchasingVariable MarketingFixed MarketingWarrantyCustomsPayroll & TimekeepingSupplier ManagementTreasuryCash ManagementJournal EntriesReconciliationProduct DevelopmentInsuranceVehicle RemarketingSystem SecurityDistribution & Logistics
- 7. CFO ‘TOP SIX’Governance and Ethics Cash and Treasury Asset Integrity Revenue Purchasing and Payables Accounting
- 8. GOVERNANCE AND ETHICSEstablishing a decision framework for doing the right thingCONTROLSAudit Committee Clear Organizational Structure Formal Delegations of Authority Policy Letters Involvement of OGC Procedures for Reporting Unusual Events 1-800-847-7911POTENTIAL RISKSGOVERNANCE Business Mismanagement Confusion & Inefficiency ETHICS Loss of Reputation Litigation Issues Asset Loss
- 9. CASH AND TREASURYProtection and maximum utilization of cash and investment assetsCONTROLSAppropriate Cash Handling Delegations of Authority Account Reconciliation Hedging & Risk Transfer Tools • • • Use of Treasury & Risk Management ExpertisePOTENTIAL RISKSPOOR CASH MANAGEMENT Theft or Loss of Cash Loss of Interest Income POOR RISK MANAGEMENT Currency, Interest Rate, & Commodity Exposure Liquidity Risk Property & Casualty Hazards Default Risk
- 10. ASSET INTEGRITYProtection and usability of Company physical and information assetsCONTROLSPhysical Security Tagging & Cycle Counts Receiving/Shipping Processes Application Control Review Disaster Recovery Plan Passwords User Access ReviewPOTENTIAL RISKSPHYSICAL ASSETS Loss, Theft, or Damage Waste & Underutilization INFORMATION ASSETS Loss, Theft, or Damage System / Business Failure
- 11. REVENUETimely recognition of sales revenue and collection of receivablesCONTROLSSeparation of Revenue Recognition & Cash Handling Procedures for Revenue Recognition Aging Follow-up Bad Debt Allowance Analysis Account ReconciliationPOTENTIAL RISKSRevenue Over/Understated Overdue Receivables Ineffective Collection Process Bad Debt Exposure
- 12. PURCHASING AND PAYABLESPurchasing high quality goods and services and paying the right amount at the right timeCONTROLSUse Purchasing Expertise Budget Management Supplier Database / Preferred Supplier Listing Low Value Purchase Review Standard Terms & Conditions Receipt Verification Pre-Payment Review Account ReconciliationPOTENTIAL RISKSPURCHASING Unnecessary Purchase Price too High Quality Not to Specification Contracts that Don’t Support Goals PAYABLES Pay Wrong Amount Pay for Goods not Received Pay Wrong Time
- 13. ACCOUNTINGEnsuring that accounting records are accurate and managed properlyCONTROLSAccount Reconciliation Reconciling Item Follow-up Journal Entry Review & Approval Up-to-Date Chart of Accounts Closing Procedures Budgeting & AnalysisPOTENTIAL RISKSACCOUNTS MISSTATED Improper Entry Made Legal Exposure to Shareholders / Regulatory DATA NOT USEFUL Poor Categorization Non-Timely DATA NOT USED
- 14. EXERCISE: SPECIAL METAL STAMPERS, INC.Method: Individual Exercise Objective: Use the CFO Top Six to sift through information and find critical control concerns Time: 15 minutesInstructions: You are Robin James, and today you are taking over from John Smith as Controller at Special Metal Stampers, Inc. a wholly owned subsidiary of We Build Cars. As you sit down at your desk, you notice a full in-basket requiring your attention. Review the narrative provided (a summarization of several introductory interviews) and the contents of your in-box. Which three concerns would you tackle first, and why?
- 15. BUSINESS CONTROL TOOLSInternal Control Coordinators Modular Control Review Programs 6-Sigma The GAONow that you know where to focus, what tools can you use to find and address concerns?Corporate Policies and Standards Application Control Review (ACR) Training
- 16. CORPORATE POLICIES AND STANDARDSFinance Manual (www.dearborn.ford.com/fm/) Policy Letters (www.ctis.ford.com/policydirect/) Global Information Standards (http://www.dearborn4.ford.com/gim/gis/index.htm) Corporate Systems Manual (http://www.dearborn.ford.com/security/policy/csm/)Requirements and Guidelines Established by OperationsOther guidelines are available on the process owners’ sites
- 17. APPLICATION CONTROL REVIEW (ACR)Review and approval process for system developmentThe ACR process requires the business owner of a new or fundamentally changed system to certify controls are in place before system launch. The process includes a checklist of controls and discussions with GAO on a preventive basis Essential for guarding information assetsACR Homepage (www.dearborn.ford.com/eis/552/)
- 18. TRAININGAdditional training resources for you and your organizationCorporate Training Courses with control emphasis including: Global 8D (Root Cause Analysis), and Statistical Process Control Local training through XXXX (To be filled in prior to course) Business Process Control Training A comprehensive set of training courses on specific functional areas from the GAO For more information visit our web-site reference at: www.finance.ford.com/gao/sites/Training/BPC-training.htm
- 19. INTERNAL CONTROL COORDINATORSCo-located (within automotive groups) subject matter experts in control with business perspectiveLocal support for everyday operational control questions Assist Management and Operations Proactively in: Identifying process improvement opportunities Developing and implementing solutions Resource for Modular Control Review Process, a self-assessment of controls (see following slide)http://www.dearborn.ford.com/fm/intcntrl/icntgd89/icgprc89/8960/896020.htmlInternal Control Coordinator Roles & Responsibilities (FM 80-60-20)
- 20. MODULAR CONTROL REVIEW PROGRAMSHelps you identify areas of concern on a progression basis (based on risk) Should be used at least annually to ensure that operations are under control Process based control checklists for operational reviewModular Control Review Program (FM 89-60-10)http://www.dearborn.ford.com/fm/intcntrl/icntgd89/icgprc89/8960/896010.htmlhttp://www.finance.ford.com/gao/programs/busprogs.htmModular Control Review Programs
- 21. 6-SIGMAApplication of 6-Sigma Principles to Business Process ControlsPrinciples of 6-Sigma are based in Control • • • Planning, measuring and monitoring are critical components • • • Emphasize the 6-Sigma Mindset6-Sigma Web-site www.6-sigma.ford.com
- 22. THE GAOAdditional resources dedicated to improving your businessUse reviews as a catalyst to create a control mindset within the operating team • • • Jointly identify risks and opportunities to focus efforts on high reward areasThe GAO Website (www.finance.ford.com/gao/)
- 23. CHECKPOINT: CAN YOU…Move Beyond the Business Process Control Basics to Establish a CFO Perspective Go to Other Resources to Get More Information
- 24. BUSINESS CONTROL & YOU -- THE CFO PERSPECTIVE
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