Management Processes
Typical responsibilities for accounting and financial managers
- Understanding basic financial statements
- Key performance indicators
- Typical accounting review procedures
- External reporting for lenders and other stakeholders
- Company/Employee handbood or policy manual
- Job descriptions and expectations
- Incidents, actions, and documentation
- Performance evaluations
- Budget process (esp in a multi-department or multi-company environment
- Resource allocation and project/proposal evaluation and comparisons
- Cash requirements planning
- Planning models and scenario development
Management Tools
Develop and use tools and templates
- Detailed 12-month rolling budget
- By department, business segment or company
- Long-range forecasting models
- Incorporate multiple variables
- Headcount, prices, costs, volumes
- The impact and significance of employee development
- Cross-training and preparedness
- Training / pay rate / value
- Goal setting, assignments, prioritization
- Performance evaluation criteria
- Recognize the importance of effective communication
- Dashboard report – daily, weekly, monthly report of key performance indicators
- “Windshield” – develop a budget, and measure performance against it!
- “Roadmap” – a long-range (5 year) strategic financial plan