Overview
Course overview
Financial management and control is the engine of organisational performance and getting it wrong has real consequences. This short course gives managers and finance professionals the tools to plan, monitor and control financial performance effectively. Topics include budgeting and forecasting, cost centre management, variance analysis, management reporting, internal controls and financial performance improvement. The course is equally relevant for finance professionals looking to consolidate their knowledge and for operational managers who need to take greater ownership of the financial results within their area of responsibility.
What you will study
Establish the foundations of financial management and control, covering the role of financial management in organisational performance, the distinction between financial accounting and management accounting and the principles that underpin sound financial governance.
Apply financial management and control tools to your own area of responsibility. Identify the key financial levers in your budget, the control weaknesses that pose the greatest risk and the monitoring processes you will put in place to strengthen financial discipline.
Examine real cases where financial management failure led to significant business losses, fraud, regulatory action or reputational damage. Extract the control design, governance and culture lessons and apply them to improving financial management in your own organisation.
Learn the key tools for financial planning and control, including activity-based budgeting, rolling forecasts, responsibility accounting, cost-volume-profit analysis and financial performance dashboards. Understand how each tool supports management decision-making.
Design a financial management and control improvement plan for your own organisation or function. Define the control structures, reporting processes, accountability frameworks and monitoring mechanisms you will implement to raise the standard of financial management.
Develop the ability to measure and communicate the effectiveness of your financial management and control systems. Learn how to conduct financial control reviews, benchmark your practices against best practice and report findings to senior leadership and audit committees.
Build a comprehensive understanding of internal control design, covering the COSO internal control framework, segregation of duties, authorisation hierarchies, reconciliation processes and the preventive and detective controls that protect financial integrity.
Develop proficiency in management reporting: how to design reports that give decision-makers the information they need, how to present financial data clearly and compellingly and how to ensure reporting processes are efficient, accurate and timely.
Master the discipline of variance analysis: how to calculate, interpret and act on the differences between budget and actual performance. Learn how to conduct root cause analysis on significant variances and use the findings to improve forecasting accuracy and management decisions.
Develop a working understanding of internal audit methodology, covering risk-based audit planning, fieldwork procedures, evidence evaluation, audit reporting and the role of internal audit in supporting effective corporate governance and financial control.
Who is this for?
Finance managers, operations managers, department heads and executives responsible for budgeting, cost control and financial reporting who want a structured and practical approach to financial management and control.
Learning outcome
Graduates leave with a clear financial management framework, stronger variance and performance analysis skills and the ability to design and implement financial controls that protect and improve business performance.
Assessment and delivery style
Teaching is designed to be interactive, applied and professionally relevant. Activities may include case discussion, guided exercises, workplace examples, short presentations, reflective planning and tutor-led feedback.
