Certified Controller

MODULE 1 Basic Economic Concepts and Principles

1.1 Introduction to Financial Management

1.1.1 Definition and Scope of Financial Management
1.1.2 Historical Development and Relevance for Organizations
1.1.3 Purpose of Financial Management

1.2 The Role of the Controller in Organizations

1.2.1 Responsibilities and Functions of the Controller
1.2.2 Collaboration with Other Departments and DecisionMakers
1.2.3 Ethical Considerations in the Role of the Controller

1.3 Basic Economic Concepts

1.3.1 Time Value of Money and Discount Rate
1.3.2 Business and Economic Terms and Definitions
1.3.3 Fundamental Principles and Theories in Economics and Finance

1.4 Understanding Accounting and Financial Reporting as a Controller

1.4.1 Fundamental Understanding of Accounting
1.4.2 Relationship between Accounting and Financial Management
1.4.3 Analyzing and Interpreting Financial Reports as a Controller

1.5 Corporate Goals and Financial Management

1.5.1 Linking Corporate Goals with Financial Management
1.5.2 Strategic Alignment and Implementation of Financial Management Measures
1.5.3 Measurable Goals and Objectives for Successful Financial Management

1.6 Key Performance Indicators and Financial Analysis

1.6.1 Essential Financial Key Performance Indicators for Analysis and Monitoring
1.6.2 Establishing the Organization's Key Performance Indicators
1.6.3 Using Key Performance Indicators for Strategic Decision-Making
1.6.4 Understanding the Limitations of Key Performance Indicators

Module 2 Cost Management and Cost Tracking

2.1 Introduction to Cost Tracking

2.1.1 Goals and Purposes of Cost Tracking
2.1.2 The Value of Cost Tracking for Organizational Success
2.1.3 Understanding the Cost of Cost Tracking

2.2 Financial Management and Cost Tracking

2.2.1 Managing Based on Cost Tracking
2.2.2 Integration of Cost Tracking into Overall Financial Management Processes

2.3 Effective Use of Cost Centers for Internal Control

2.3.1 Definition and Application of Cost Centers
2.3.2 Purpose and Dynamic Nature of Cost Centers
2.3.3 Allocation of Internal Costs among Cost Centers

2.4 Cost Allocation

2.4.1 Methods of Cost Allocation and Their Applications
2.4.2 Advantages and Disadvantages of Different Cost Allocation Methods

2.5 Variance Analysis and Action Planning to Achieve Financial Goals

2.5.1 Identifying and Interpreting Variances in Cost Tracking
2.5.2 Developing Action Plans to Correct Variances and Achieve Financial Goals

2.6 Presentation and Communication

2.6.1 Effective Presentation of Cost Tracking Results
2.6.2 Communication with Various Stakeholders
2.6.3 Use of Visual Aids for Clear Presentation

MODULE 3 Budgeting, Forecasting Methods, and Cost Estimation

3.1 The Role of Budgeting in Financial Management

3.1.1 Goals and purposes of budgeting
3.1.2 Strategic alignment and implementation of the budgeting process
3.1.3 Linkage between the budget and overall business strategy

3.2 Principles of Budgeting

3.2.1 Fundamental principles for successful budgeting
3.2.2 Responsibility and participation in the budgeting process
3.2.3 Creating a credible budget
3.2.4 Flexibility and adaptation of the budget over time

3.3 Forecasting Methods and Techniques for Future Security

3.3.1 Methods for creating reliable and realistic forecasts
3.3.2 Use of historical data and trends for forecasting
3.3.3 Assessment of uncertainties and risks in forecasting methods

3.4 Multi-Year Budgeting and Strategic Planning

3.4.1 Development of multi-year budgets and their strategic use
3.4.2 Assessing investments

3.5 Price Calculation and Cost Estimations

3.5.1 Principles of price calculation and its connection to budgeting
3.5.2 Methods for cost estimations and their applications
3.5.3 Practical application of cost estimation methods