Strategic Financial Management

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

This course will enable you to:

  • Understand the limitations of traditional accounting models in an increasingly dynamic and fast changing world
  • Contribute more effectively to corporate strategy by taking a more proactive and forward-looking approach
  • React to conditions of rapid change through enhanced awareness, anticipation and adaptation
  • Understand and use alternative expressions of profit that start with a recognition of the impact on cash flow of the various stakeholders in a company
  • Understand the different relationships between profits, expansion and cash flow model in the traditional accounting and financial management models
  • Monitor the success of projects, strategies and even total businesses by articulating NPVs over time
  • Understand how strategic financial management fits together in an integrative model

Can you contribute to the making and monitoring of strategic decisions? Can you augment the traditional accounting model so as to provide information relevant to an increasingly dynamic world?

In Strategic Financial Management David Allen argues that, if you concentrate on looking backwards, you will find it difficult to play your rightful part at the strategic level of management.

Less functional approaches to management have had a big impact on control systems and have left the traditional accounting model looking inappropriate and even misleading.

Strategic Financial Management brings together financial management and strategic management and provides the financial criteria for all management decision making – maximising the net present value of projected cash flows – focusing in particular on the two key ingredients: cash flow and net present value.

Always provocative and stimulating, David Allen will challenge your assumptions and encourage you to think again about the role of accountancy in a new dynamic world.

Strategic management

  • What is causing the increased rate of change in the business environment?
  • How is the philosophy of management responding to these pressures?
  • What effect is this having on control systems?
  • How are businesses responding to these changes?

Financial management

  • What is financial management?
  • How is financial management controlled?
  • What are the objectives?

Cash flow

  • What are the cash flow basics?
  • What are the different points of view?
  • How is the flow of funds managed?

Net present value

  • How do we arrive at NPVs?
  • What is the arithmetic of discounting?
  • What is the purpose of budgetary control?
  • How does this all fit together?

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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