Financial Control in SMEs

by David Allen
access120 days access
cpd hours4 CPD hours
price£75+vat

This course will enable you to:

  • Identify the cost of capital
  • Understand corporate responsibility
  • Develop tactics and strategy
  • Implement delivery based costing
  • Identify and deal with potential criticism

The way SMEs approach financial control needs to be different to the approach of large organisations. SMEs are not distracted by share prices and can afford to think long term.

In this course, David Allen encourages accountants to be proactive in the management of their businesses; looking both outwards and forwards and dealing with the inevitable uncertainties that entails. It looks at how new concepts such as risk management and corporate social responsibility should be considered alongside more traditional techniques like standard costing and budgetary control.

The course contains advice on how to develop a comprehensive structure of financial control appropriate to today's conditions. The course concludes by looking at how accountants can prepare for a change of ownership.

Financial Control in SMEs is part of Nelson Croom's Issues and Debates suite of learning. Issues and Debates courses stimulate intelligent dialogue and debate and provide a valuable and evolving resource of professional knowledge and experience. These courses are topical, practical and highly relevant to today's changing market. Each module is split into two activities: Understanding the issues and Putting it into practice. The first encourages you to think about a topic, drawing on your own professional experience and knowledge. The second helps you to put ideas and/or theories into practice as part of your day-to-day work.

The business environment

  • Competition and volatility
  • Corporate responsibility
  • Managerial responses
  • Trust and learning

Survival of the most fitted

  • Cost of capital
  • Why bother?
  • Tactics and strategy
  • Cash flow

Management accountancy

  • Management accounting
  • Activity based costing
  • Budgetary control
  • Capital expenditure

Major strategic issues

  • Discounting forecast cash flows
  • Residual value
  • Heading off criticism
  • Earnings and EBITA

David Allen CBE, MPhil, FCMA, FCIS was employed for many years by the Cadbury Schweppes group, holding directorships of various companies, latterly Cadbury Ltd. Whilst with the group, he coined the expression Strategic Financial Management to refer to an approach which enabled the finance function to play a proactive role in the formation and monitoring of strategy, and offered an antidote to short-termism.

During that period he was also president of the Chartered Institute of Management Accountants (CIMA), chairman of the Management Accounting stream of the International Federation of Accountants, a visiting professor at Loughborough University Business School and a member of the Review Panel of the Financial Reporting Council.

He retired from all of the above in order to concentrate on the promulgation of the concept and practice of Strategic Financial Management, through the medium of S. F. M. Ltd. This involved writing, lecturing and consulting, and led to a number of non-executive directorships in private and public sectors.

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