CFO培训
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Hedging & Risk Transfer Tools •••
Use of Treasury & Risk Management Expertise
ASSET INTEGRITY
FORD PROPRIETARY
Protection and usability of Company physical and information assets
• ETHICS - Loss of Reputation - Litigation Issues - Asset Loss
CONTROLS
Audit Committee Clear Organizational Structure Formal Delegations of Authority
Policy Letters Involvement of OGC Procedures for Reporting
CONTROLS
Separation of Revenue Recognition & Cash Handling
Procedures for Revenue Recognition
Aging Follow-up Bad Debt Allowance Analysis
Account Reconciliation
• PAYABLES - Pay Wrong Amount - Pay for Goods not Received - Pay Wrong Time
CONTROLS
Use Purchasing Expertise Budget Management
Supplier Database / Preferred Supplier Listing
FORD PROPRIETARY
BUSINESS CONTROL TOOLS
Now that you know where to focus, what tools can you use to find and address concerns?
• Corporate Policies and Standards
Health & Tax Compliance
AR Collections
Disaster Recovery Accounts Receivable
Safety
System Security
Safety Engineering
Inventory Treasury
Reconciliation
Journal Entries Vehicle Remarketing
• POOR RISK MANAGEMENT - Currency, Interest Rate, & Commodity Exposure - Liquidity Risk - Property & Casualty Hazards - Default Risk
CONTROLS
Appropriate Cash Handling Delegations of Authority Account Reconciliation
Requirements and Guidelines Established by Operations
Low Value Purchase Review Standard Terms & Conditions
Receipt Verification Pre-Payment Review Account Reconciliation
ACCOUNTING
FORD PROPRIEБайду номын сангаасARY
Ensuring that accounting records are accurate and managed properly
POTENTIAL RISKS
• ACCOUNTS MISSTATED - Improper Entry Made - Legal Exposure to Shareholders / Regulatory
• DATA NOT USEFUL - Poor Categorization - Non-Timely
BUSINESS CONTROL & YOU -THE CFO PERSPECTIVE
FORD PROPRIETARY
OUTCOMES FOR YOU
• Take Business Process Control Basics and Establish a CFO Perspective
• Leave with Helpful Tools
Customs
Sales Recognition
Fixed Marketing Environmental Compliance
Distribution
Purchasing & Logistics Warranty
Supplier Management
Contract Management
Accounts Payable
FORD PROPRIETARY
WHAT IS BUSINESS CONTROL?
Any acStioignntaatukerensby managemenCthteoceknlishtasnce the
likelihSoeocdurtihtyatacnodmLopcaknsy objeInctteivrneasl aanndd gEoxtaelrsnwalilAl buedit achievAecdcoounnatinsgusVteariinfiecdatiboanssis
FORD PROPRIETARY
WHERE DO YOU FOCUS?
Cash Management
Insurance
Payroll & Timekeeping
Variable Marketing
Facilities Security
Fixed Assets
Credit Financing
Product Development
FORD PROPRIETARY
ELEMENTS OF BUSINESS CONTROL
Corporate Culture
Processes and Systems
Monitoring
Risk Management
FORD PROPRIETARY
DRIVING FLAWLESS EXECUTION
CFO ‘TOP SIX’
• Governance and Ethics • Cash and Treasury • Asset Integrity • Revenue • Purchasing and Payables • Accounting
FORD PROPRIETARY
FORD PROPRIETARY
GOVERNANCE AND ETHICS
Establishing a decision framework for doing the right thing
POTENTIAL RISKS
• GOVERNANCE - Business Mismanagement - Confusion & Inefficiency
• DATA NOT USED
CONTROLS
Account Reconciliation Reconciling Item Follow-up
Journal Entry Review & Approval
Up-to-Date Chart of Accounts Closing Procedures Budgeting & Analysis
CONTROLS
Physical Security Tagging & Cycle Counts Receiving/Shipping Processes
Application Control Review Disaster Recovery Plan Passwords User Access Review
• Application Control Review (ACR)
• Training
• Internal Control Coordinators
• Modular Control Review Programs
• 6-Sigma • The GAO
FORD PROPRIETARY
CORPORATE POLICIES AND STANDARDS
Unusual Events 1-800-847-7911
FORD PROPRIETARY
CASH AND TREASURY
Protection and maximum utilization of cash and investment assets
POTENTIAL RISKS
• POOR CASH MANAGEMENT - Theft or Loss of Cash - Loss of Interest Income
Management
Employees
CORPORATE CULTURE RISK MANAGEMENT
PROCESSES & SYSTEMS MONITORING
ACHIEVEMENT OF COMPANY GOALS &
OBJECTIVES
Business control drives achievement of goals!
EXERCISE:
FORD PROPRIETARY
SPECIAL METAL STAMPERS, INC.
Method: Individual Exercise
Objective: Use the CFO Top Six to sift through information and find critical control concerns
FORD PROPRIETARY
PURCHASING AND PAYABLES
Purchasing high quality goods and services and paying the right amount at the right time
POTENTIAL RISKS
• PURCHASING - Unnecessary Purchase - Price too High - Quality Not to Specification - Contracts that Don’t Support Goals
POTENTIAL RISKS
• PHYSICAL ASSETS - Loss, Theft, or Damage - Waste & Underutilization
• INFORMATION ASSETS - Loss, Theft, or Damage - System / Business Failure
REVENUE
FORD PROPRIETARY
Timely recognition of sales revenue and collection of receivables
POTENTIAL RISKS
• Revenue Over/Understated • Overdue Receivables • Ineffective Collection Process • Bad Debt Exposure
Time: 15 minutes
Instructions: 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?
Use of Treasury & Risk Management Expertise
ASSET INTEGRITY
FORD PROPRIETARY
Protection and usability of Company physical and information assets
• ETHICS - Loss of Reputation - Litigation Issues - Asset Loss
CONTROLS
Audit Committee Clear Organizational Structure Formal Delegations of Authority
Policy Letters Involvement of OGC Procedures for Reporting
CONTROLS
Separation of Revenue Recognition & Cash Handling
Procedures for Revenue Recognition
Aging Follow-up Bad Debt Allowance Analysis
Account Reconciliation
• PAYABLES - Pay Wrong Amount - Pay for Goods not Received - Pay Wrong Time
CONTROLS
Use Purchasing Expertise Budget Management
Supplier Database / Preferred Supplier Listing
FORD PROPRIETARY
BUSINESS CONTROL TOOLS
Now that you know where to focus, what tools can you use to find and address concerns?
• Corporate Policies and Standards
Health & Tax Compliance
AR Collections
Disaster Recovery Accounts Receivable
Safety
System Security
Safety Engineering
Inventory Treasury
Reconciliation
Journal Entries Vehicle Remarketing
• POOR RISK MANAGEMENT - Currency, Interest Rate, & Commodity Exposure - Liquidity Risk - Property & Casualty Hazards - Default Risk
CONTROLS
Appropriate Cash Handling Delegations of Authority Account Reconciliation
Requirements and Guidelines Established by Operations
Low Value Purchase Review Standard Terms & Conditions
Receipt Verification Pre-Payment Review Account Reconciliation
ACCOUNTING
FORD PROPRIEБайду номын сангаасARY
Ensuring that accounting records are accurate and managed properly
POTENTIAL RISKS
• ACCOUNTS MISSTATED - Improper Entry Made - Legal Exposure to Shareholders / Regulatory
• DATA NOT USEFUL - Poor Categorization - Non-Timely
BUSINESS CONTROL & YOU -THE CFO PERSPECTIVE
FORD PROPRIETARY
OUTCOMES FOR YOU
• Take Business Process Control Basics and Establish a CFO Perspective
• Leave with Helpful Tools
Customs
Sales Recognition
Fixed Marketing Environmental Compliance
Distribution
Purchasing & Logistics Warranty
Supplier Management
Contract Management
Accounts Payable
FORD PROPRIETARY
WHAT IS BUSINESS CONTROL?
Any acStioignntaatukerensby managemenCthteoceknlishtasnce the
likelihSoeocdurtihtyatacnodmLopcaknsy objeInctteivrneasl aanndd gEoxtaelrsnwalilAl buedit achievAecdcoounnatinsgusVteariinfiecdatiboanssis
FORD PROPRIETARY
WHERE DO YOU FOCUS?
Cash Management
Insurance
Payroll & Timekeeping
Variable Marketing
Facilities Security
Fixed Assets
Credit Financing
Product Development
FORD PROPRIETARY
ELEMENTS OF BUSINESS CONTROL
Corporate Culture
Processes and Systems
Monitoring
Risk Management
FORD PROPRIETARY
DRIVING FLAWLESS EXECUTION
CFO ‘TOP SIX’
• Governance and Ethics • Cash and Treasury • Asset Integrity • Revenue • Purchasing and Payables • Accounting
FORD PROPRIETARY
FORD PROPRIETARY
GOVERNANCE AND ETHICS
Establishing a decision framework for doing the right thing
POTENTIAL RISKS
• GOVERNANCE - Business Mismanagement - Confusion & Inefficiency
• DATA NOT USED
CONTROLS
Account Reconciliation Reconciling Item Follow-up
Journal Entry Review & Approval
Up-to-Date Chart of Accounts Closing Procedures Budgeting & Analysis
CONTROLS
Physical Security Tagging & Cycle Counts Receiving/Shipping Processes
Application Control Review Disaster Recovery Plan Passwords User Access Review
• Application Control Review (ACR)
• Training
• Internal Control Coordinators
• Modular Control Review Programs
• 6-Sigma • The GAO
FORD PROPRIETARY
CORPORATE POLICIES AND STANDARDS
Unusual Events 1-800-847-7911
FORD PROPRIETARY
CASH AND TREASURY
Protection and maximum utilization of cash and investment assets
POTENTIAL RISKS
• POOR CASH MANAGEMENT - Theft or Loss of Cash - Loss of Interest Income
Management
Employees
CORPORATE CULTURE RISK MANAGEMENT
PROCESSES & SYSTEMS MONITORING
ACHIEVEMENT OF COMPANY GOALS &
OBJECTIVES
Business control drives achievement of goals!
EXERCISE:
FORD PROPRIETARY
SPECIAL METAL STAMPERS, INC.
Method: Individual Exercise
Objective: Use the CFO Top Six to sift through information and find critical control concerns
FORD PROPRIETARY
PURCHASING AND PAYABLES
Purchasing high quality goods and services and paying the right amount at the right time
POTENTIAL RISKS
• PURCHASING - Unnecessary Purchase - Price too High - Quality Not to Specification - Contracts that Don’t Support Goals
POTENTIAL RISKS
• PHYSICAL ASSETS - Loss, Theft, or Damage - Waste & Underutilization
• INFORMATION ASSETS - Loss, Theft, or Damage - System / Business Failure
REVENUE
FORD PROPRIETARY
Timely recognition of sales revenue and collection of receivables
POTENTIAL RISKS
• Revenue Over/Understated • Overdue Receivables • Ineffective Collection Process • Bad Debt Exposure
Time: 15 minutes
Instructions: 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?