Russ Bell & Associates Inc.

Financial Management Workshop


The objective of the Financial Management workshop is to provide workshop participants with a clear understanding of the application of the financial management processes, including information collection, assessment, variance analysis and forecasting .


Upon the completion of this workshop, the participants will make better decisions based on financial and operational information, develop better budgets build on objectives, and provide more accurate, timely and relevant financial information to decision makers.



Workshop Elements
The workshop provides a detailed examination of financial management processes used in your organization through the following modules:


I. Financial Management Principles:

II. Corporate Reporting Requirements:

III. Strategic Management:

IV. Budget Development:

V. Variance Reporting and Forecasting:


The Custom Design Process

The custom design process is a collaborative effort involving key personnel from your organization and instructors from Russ Bell & Associates. Stage one involves research and content customization followed by review and approval of the material, and finally a revision and enhancement stage. The design process ensures that ďadult-centeredĒ training methods are used and that the workshop content, the workbook, the instructional methods, and the interactive case studies meet the training needs of your organization.




I. Financial Management Principles:

Accounting principles provide consistent guidelines to accounting practices and allow a consistent understanding and interpretation of financial results. Key principles will be assessed in detail. Two overarching concepts: materiality and conservatism will also be reviewed.


II. Corporate Reporting Requirements: Managers are expected to provide meaningful information and analysis to senior management. Thus they must have knowledge of the internal management reporting process, corporate reporting requirements, and financial reporting objectives. Financial reporting objectives will be reviewed and the value and use of the organizationís Balance Sheet, Statement of Earnings and Statement of Cash will be presented. Your organizationís reporting timelines, accounting systems, management reports, and review and approval processes will be reviewed.


III. Strategic Management: This module will be developed around your organizationís management framework. We will discuss how your organization does visioning, strategic planning, operational planning, and budgeting.


IV. Budget Development: Management involves responsibility and accountability for finances and operations. In this module we will provide a detailed assessment of budgeting concepts and principles and will be directly linked to your organizationís planning framework. We will also consider management planning processes, assessment activities, expectation setting, effective communication strategies, and evaluation techniques, as they relate to budget development. Importantly, key issues in budget development will be explored including critical assumption development, data sources, comparison and analysis processes, and key indicator and benchmark identification.


V. Variance Reporting and Forecasting: Variance reporting and forecasting are indicators pointing to areas requiring management attention. We will present the processes of variance analysis and forecasting emphasizing management decisions and action.