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Study Guide - The Corporate Controller

The study guide is provided to guide you through the course material in a step by step format.

Course material is The Corporate Controller.  The cost of the text and free shipping is included in the price.

Prerequisite: None

Course level: Basic

Advanced preparation: None

Teaching method: Text and exam

 

Chapter 1 - The Controller's Job

The learning objectives for this lesson are to gain an understanding of:

  • History of the controller's function
  • Main job functions
  • Job description
  • Job Qualifications
  • Organizational structure of the accounting department
  • Ethics

Chapter 2 - Internal Control

The learning objectives for this lesson are to gain an understanding of:

  • Basic elements
  • Controls to use in your business
  • Elements of internal accounting control
  • Levels of controls
  • Responsibility for proper internal controls
  • Fraud
  • Auditing for fraud

Chapter 3 - Planning and the Strategic Pla

The learning objectives for this lesson are to gain an understanding of:

  • Strategic plan overview
  • System of plans
  • Planning cycle
  • Planning roles
  • Planning timing and planning period
  • Business mission
  • Developing long-range objectives
  • Developing long-range strategies

Chapter 4 - Long-Range Financial Plan

The learning objectives for this lesson are to gain an understanding of:

  • System of plans
  • Annual planning cycle
  • Role of the controller
  • Sales planning
  • Steps in developing the near-term sales plan
  • Methods for determining the sales forecast
  • Useful sources for forecasting information
  • Break-even chart
  • Changes in the sales mixture, sales price, and the cost

Chapter 5 - Annual Plan

The learning objectives for this lesson are to gain an understanding of:

  • System of plans
  • Annual planning cycle
  • Role of the controller
  • Sales planning
  • Steps in developing the near-term sales plan
  • Methods for determining the sales forecast
  • Useful sources for forecasting information
  • Break-even chart
  • Changes in the sales mixture, sales price, and the cost

Chapter 6 - Sales

The learning objectives for this lesson are to gain an understanding of:

  • Role of the controller
  • Sales analysis
  • Sales standards
  • Sales reports
  • Product pricing

Chapter 7 - Distribution Expenses

The learning objectives for this lesson are to gain an understanding of:

  • Role of the sales manager
  • Analyzing distribution costs
  • Analyzing by application
  • Setting the distribution budget

Chapter 8 - Direct Materials and Labor

The learning objectives for this lesson are to gain an understanding of:

  • Objectives
  • Role of the controller
  • Types of cost systems
  • Measuring and controlling direct material costs
  • Controlling direct material quantities
  • Measuring and controlling direct labor costs
  • Target costing

Chapter 9 - Overhead

The learning objectives for this lesson are to gain an understanding of:

  • Need for overhead controls
  • Responsibilities of the controller
  • Account classifications
  • Fixed and variable costs
  • Cost allocation
  • Controlling overhead
  • Production reports

Chapter 10 - General and Administrative Expenses

The learning objectives for this lesson are to gain an understanding of:

  • Functions involved
  • Accounting for and allocating administrative expenses
  • "Unique" expenses
  • Controlling costs

Chapter 11 - Cash and Investments

The learning objectives for this lesson are to gain an understanding of:

  • Objectives of cash management
  • Role of the controller
  • Cash collections
  • Cash disbursements
  • Investment of short-term funds
  • Accounting for records of investment
  • Cash and investment controls

Chapter 12 - Receivables

The learning objectives for this lesson are to gain an understanding of:

  • Functions of the credit department
  • Shortening the receivables cycle
  • Reserve for doubtful accounts
  • Receivables fraud and control

Chapter 13 - Inventory

The learning objectives for this lesson are to gain an understanding of:

  • Inventory management systems
  • Inventory tracking
  • Physical inventory procedure
  • Inventory valuation
  • Inventory fraud and controls

Chapter 14 - Property, Plant, and Equipment

The learning objectives for this lesson are to gain an understanding of:

  • Role of the controller
  • Capital budgeting\
  • Postproject appraisals
  • Other aspects fo fixed assets

Chapter 15 - Liabilities

The learning objectives for this lesson are to gain an understanding of:

  • Objectives
  • Controls
  • Credit agreement provisions
  • Debt capacity
  • Bond ratings
  • Leverage

Chapter 16 - Equity

The learning objectives for this lesson are to gain an understanding of:

  • Role of the controller
  • Cost of Capital
  • Dividend policy
  • Long-term equity planning
  • Repurchasing common shares
  • Capital stock records

Chapter 17 - Operational Accounting

The learning objectives for this lesson are to gain an understanding of:

  • Creating departmental job descriptions
  • Creating a departmental training program
  • Clearing out excess documentation
  • Documenting all major processes
  • Scheduling the department
  • Correcting the underlying cause of errorsUse of best practices
  • Outsourcing selected accounting functions

Chapter 18 - Closing Procedures

The learning objectives for this lesson are to gain an understanding of:

  • Selecting the fiscal year
  • Selecting interim reporting periods
  • Quick close

Chapter 19 - Performance Measurements and Trends

The learning objectives for this lesson are to gain an understanding of:

  • Performance measurements
  • Trends
  • Interrelationship of ratios
  • Just-in-time ratios

Chapter 20 - Financial Analysis

The learning objectives for this lesson are to gain an understanding of:

  • Analyzing financial statements
  • Analyzing working capital
  • Analyzing capital investments
  • Analyzing capacity utilization
  • Analyzing financing options

Chapter 21 - Taxes

The learning objectives for this lesson are to gain an understanding of:

  • Tax strategy
  • Tax organization
  • Role of the tax manager
  • Tax records
  • Tax versus book accounting
  • Proper classification of accounts

Chapter 22 - Selecting a Financial Information System

The learning objectives for this lesson are to gain an understanding of:

  • Reasons to purchase software
  • Defining systems requirements
  • Existing system documentation
  • Joint sessions
  • Preparing the request for proposal
  • Distribution of the request for proposal
  • Review of the vendor's completed proposal
  • Reference calls
  • Demonstration
  • Site visits
  • Cost of the system
  • Final selection
  • Contract negotiations
  • Postimplementation review

Chapter 23 - Project Risk Management

The learning objectives for this lesson are to gain an understanding of:

  • Project risk categories
  • Project risk management approach

Chapter 24 - Implementing a Successful CRM Solution

The learning objectives for this lesson are to gain an understanding of:

  • Defining a business case to drive shareholder value
  • Clearly communicating the change imperative
  • Building a winning team
  • Preparing for the worst

Chapter 25 - Organizations Large and Small Embrace Shared Services

The learning objectives for this lesson are to gain an understanding of:

  • Executive summary
  • About the survey
  • Business case
  • Implementation
  • Operations
  • Customer relations
  • Next steps

Chapter 26 - Information Technology Offshore and Outsourcing

The learning objectives for this lesson are to gain an understanding of:

  • What offshoring is
  • Providers' approach to outsourcing and offshoring
  • Variants: Build, buy, rent
  • Popular start-up options
  • How offshoring is different from engaging a local service provider
  • Ensuring that risks and rewards are balanced
  • Deciding if offshoring is good for a company

Chapter 27 - Change Management

The learning objectives for this lesson are to gain an understanding of:

  • Implementation history
  • Competing projects
  • Degree of disruption
  • Cost of failure
  • Risks

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