某汽车公司财务信息系统介绍(英文版)ftab.pptx

THE FINANCE ROLE IN BUSINESS TODAY1ROB PHEBUSCFO,FORD LIO HO26+YEARS EXPERIENCE WITH FORD2The mission of Ford Finance is to contribute to the success of Ford Motor Company by being the most dynamic,efficient,and highquality organization of its kind.Ford Finance people strive for excellence and continuous improvement in the quality,effectiveness,and efficiency of the services they provide to internal and external customers.FINANCE MISSION&KEY RESPONSIBILITIES3Professional Intelligence,Creativity,Judgment and Communication SkillsPersonal Integrity,Initiative,Interpersonal Skills and TeamworkFinance Personnel Characteristics 4Develop and operate highquality financial reporting and control systemsDevelop optimal business practices and processesProvide highquality analysis to support decisionsMake recommendations as Business AdvisorsFinance Roles5FINANCE FUNCTIONS6Financial Reporting Financial Statements,Tax AccountingOperations Accounting Cost Accounting,Transaction ProcessingInternal and Systems AuditingDealer AuditingSupplier Auditing Accounting&Auditing7Capital Structure and Dividend PlanningCash and Debt ManagementForeign Exchange ManagementPensions,Insurance,and Employee Payroll&SavingsTreasury8BUSINESS CONTROLBUSINESS CONTROLTHE CFO PERSPECTIVETHE CFO PERSPECTIVEON GOVERNANCEON GOVERNANCE9WHAT IS BUSINESS CONTROL?Accounting VerificationsSecurity and LocksInternal and External AuditChecklistsSignaturesAny action taken by management to enhance the likelihood that company objectives and goals will be achieved on a sustained basis10ELEMENTS OF BUSINESS CONTROLRisk ManagementRisk ManagementCorporate CultureCorporate CultureProcesses and Processes and SystemsSystemsMonitoringMonitoring11DRIVING FLAWLESS EXECUTIONBusiness control drives achievement of goals!CORPORATE CULTURERISK MANAGEMENTPROCESSES&SYSTEMSMONITORINGManagementACHIEVEMENT OF COMPANYGOALS&OBJECTIVESEmployees12WHERE DO YOU FOCUS?Tax ComplianceDisasterRecoveryAccounts PayableAccountsReceivableAR CollectionsSalesRecognitionFacilities SecurityContractManagementEnvironmentalComplianceSafetyEngineeringHealth&SafetyFixed AssetsCredit FinancingInventoryPurchasingVariable MarketingFixed MarketingWarrantyCustomsPayroll&TimekeepingSupplierManagementTreasuryCash ManagementJournal EntriesReconciliationProductDevelopmentInsuranceVehicle RemarketingSystem SecurityDistribution&Logistics13CFO TOP SIXGovernance and EthicsCash and TreasuryAsset IntegrityRevenuePurchasing and PayablesAccounting14GOVERNANCE AND ETHICSEstablishing a decision framework for doing the right thingCONTROLSAudit CommitteeClear Organizational StructureFormal Delegations of AuthorityPolicy LettersInvolvement of OGCProcedures for Reporting Unusual EventsPOTENTIAL RISKSGOVERNANCEBusiness MismanagementConfusion&InefficiencyETHICSLoss of ReputationLitigation IssuesAsset Loss15GUIDELINES FOR AUDIT COMMITTEESPurposeProvide Assistance To The Board Of Directors On Its Fiduciary ResponsibilitiesEnsure Reliability Of Accounting And Controls,Reporting Practices,And Quality And Integrity Of Financial Reports16GUIDELINES FOR AUDIT COMMITTEESMembershipTwo Or More Financially Adept DirectorsEach Should be NonExecutive Members Of The BoardCompany CFO And External Auditors Should Attend Meetings But Are Not Committee MembersMeetings Held At Each Board MeetingIndividual Meetings Between Committee And Company CFO And External Auditors At Least Annually17GUIDELINES FOR AUDIT COMMITTEESDuties And ResponsibilitiesAssure Reliability Of Accounting PracticesAssure Adequate Internal Control ProcessesAssure Compliance With Legal Requirements And Company PolicyAssure Adherence To A Company Code Of ConductAssure Appropriate Risk Management Processes EstablishedReview Appointment And Performance Of External AuditorReport To The Board On Matters Of The Committee18CASH AND TREASURYProtection and maximum utilization of cash and investment assetsCONTROLSAppropriate Cash Handling Delegations of AuthorityAccount ReconciliationHedging&Risk Transfer Tools Use of Treasury&Risk Management ExpertisePOTENTIAL RISKSPOOR CASH MANAGEMENTTheft or Loss of CashLoss of Interest IncomePOOR RISK MANAGEMENTCurrency,Interest Rate,&Commodity ExposureLiquidity RiskProperty&Casualty HazardsDefault Risk19ASSET INTEGRITYProtection and usability of Company physical and information assetsCONTROLSPhysical SecurityTagging&Cycle CountsReceiving/Shipping ProcessesApplication Control ReviewDisaster Recovery PlanPasswordsUser Access ReviewPOTENTIAL RISKSPHYSICAL ASSETSLoss,Theft,or DamageWaste&UnderutilizationINFORMATION ASSETSLoss,Theft,or DamageSystem/Business Failure20REVENUETimely recognition of sales revenue and collection of receivablesCONTROLSSeparation of Revenue Recognition&Cash HandlingProcedures for Revenue RecognitionAging FollowupBad Debt Allowance AnalysisAccount ReconciliationPOTENTIAL RISKSRevenue Over/UnderstatedOverdue ReceivablesIneffective Collection Process Bad Debt Exposure21PURCHASING AND PAYABLESPurchasing high quality goods and services and paying the right amount at the right timeCONTROLSUse Purchasing ExpertiseBudget ManagementSupplier Database/Preferred Supplier ListingLow Value Purchase ReviewStandard Terms&ConditionsReceipt VerificationPrePayment ReviewAccount ReconciliationPOTENTIAL RISKSPURCHASINGUnnecessary PurchasePrice too HighQuality Not to SpecificationContracts that Dont Support GoalsPAYABLESPay Wrong AmountPay for Goods not Received22ACCOUNTINGEnsuring that accounting records are accurate and managed properlyCONTROLSAccount ReconciliationReconciling Item FollowupJournal Entry Review&ApprovalUptoDate Chart of AccountsClosing ProceduresBudgeting&AnalysisPOTENTIAL RISKSACCOUNTS MISSTATEDImproper Entry MadeLegal Exposure to Shareholders/RegulatoryDATA NOT USEFULPoor CategorizationNonTimelyDATA NOT USED23EXERCISE:SPECIAL METAL STAMPERS,INC.Method:Individual ExerciseObjective:Use the CFO Top Six to sift through information and find critical control concernsTime:Complete Before ClassInstructions:You are Robin James,and today you are taking over from John Smith as Controller at Special Metal Stampers,Inc.a wholly owned subsidiary of We Build Cars.As you sit down at your desk,you notice a full inbasket requiring your attention.Review the narrative provided(a summarization of several introductory interviews)and the contents of your inbox.Which three concerns would you tackle first,and why?24BUSINESS CONTROL TOOLSInternal Control CoordinatorsModular Control Review Programs6-SigmaThe GAONow that you know where to focus,what tools can you use to find and address concerns?Corporate Policies and StandardsApplication Control Review(ACR)Training25BUSINESS CONTROLBUSINESS CONTROLHow to Build Control into How to Build Control into Business ProcessesBusiness Processes26Risk ManagementRisk ManagementCorporate CultureCorporate CultureProcesses and Processes and SystemsSystemsMonitoringMonitoringRisk ManagementRisk ManagementCorporate CultureCorporate CultureProcesses and Processes and SystemsSystemsMonitoringMonitoringELEMENTS OF BUSINESS CONTROL27WHY INPROCESS CONTROLS?PLANGOALPLANGOALHit the target every time with Business Process ControlRepeatability SustainabilityWithout ControlWith Control28CREATE A CONTROLLED PROCESS1.Understand the Components2.Outline the Existing Process3.Determine Areas of Risk4.Assess the Existing Controls5.Redefine the Process291.UNDERSTAND THE COMPONENTSGOALWHERE DO YOU WANT TO GET?INPUTINPUTINPUTINPUTWHAT DATA FEEDS YOUR PROCESS?Remember can be external or internalWHAT PROCESSES ARE USED?What resources(people and systems)are used to transform the input?OUTPUTOUTPUTOUTPUTOUTPUTWHAT IS THE RESULT OF YOUR PROCESS?Think enterprisewide are your outputs someone elses inputs?302.OUTLINE THE PROCESSState the Goal-Is it Measurable&Specific?Detail the Process-How do Inputs Outputs?Identify Process Steps(Sequence/Dependency)When are Decisions Required?Watch for“Dead Ends”End Should Equal OutputLook across Organizations Understand HandoffsDraw a FlowchartINPUTINPUTINPUTINPUTOUTPUTOUTPUTOUTPUTOUTPUTGOAL313.DETERMINE AREAS OF RISKAssess Goal AlignmentHas the goal changed?Does the output support the goalDoes Failure(of any process step)Impact Achievement of Goals?What is the consequence of failure?What are the odds it could fail?Look for Red Flags323.DETERMINE AREAS OF RISKSome Possible Red FlagsHolding Areas(e.g.overdue payments,unmatched receipts,incomplete orders)Key Communication Points Transitions(handoffs,transitions,etc.)Key Decision PointsManual/Paper ProcessesAnything That Cant Be ExplainedLong Delays in Retrieving InformationReliance on Detective vs.Preventative Controls334.ASSESS EXISTING CONTROLSIDENTIFY EXISTING CONTROLSPreventive Reduces likelihood of consequenceDetective Identifies and(if possible)corrects undesired resultsDirecting Encourages a desirable behavior to occurASSESS CONTROL vs.RISKWhich risks require additional mitigation?Is there a Company standard/guideline?What type of controls make sense?ProcessRisksControls345.REDEFINE THE PROCESSBuild New Controls into ProcessMatch Resources to Risk LevelEnsure Agreement with StakeholdersINPUTINPUTINPUTINPUTOUTPUTOUTPUTOUTPUTOUTPUTNEWPROCESSDocument and CLEARLY Communicate Process AND Roles and Responsibilities35Risk ManagementRisk ManagementCorporate CultureCorporate CultureProcesses and Processes and SystemsSystemsMonitoringMonitoringRisk ManagementRisk ManagementCorporate CultureCorporate CultureProcesses and Processes and SystemsSystemsMonitoringMonitoringELEMENTS OF BUSINESS CONTROL36WHY MONITOR YOUR PROCESS?Process sets up a sequence of steps things can get stuckMonitoring is a red flagDeal with exceptionsAddress root cause in the upstream processABFCDEPLANGOAL37HOW DO YOU MONITOR?Identify Key Control Points in the Process Determine Metrics for those Points&OutputsEstablish Targets,Triggers,and Variance GuidesReview Metrics Frequently in and across DepartmentsCBG/GECBusiness Process Control Health ChartTarget1 2 3 4Although consistent,steady improvement was evidenced in months 2 and 3,a decline in control was identified in month 4.Investigation of causal factors identified a change in personnel training for new employee has been prioritized.Transactions 90 daysCost/Transaction1/012/013/014/015/016/017/018/01Cost has not stabilized,and is consistently above budget.38WHAT HAPPENS WITHOUT CONTROL?No robust termination process Termination feesnot paid Cash$1.3 millionThe absence of a robust termination process impacted the Companys ability to recover payments owed.The Model E program was launched to provide employees with access to the Electronic Age by offering a computer and internet access for$5 per month.Employees agree to pay a termination fee if they left the Company prior to the 36-month contract end.160,000 employees participated.3940Profit Analysis and Business Planning Forecasts and Budgets,Business Planning Process,Joint Ventures and AcquisitionsOperations Analysis Product Development,Manufacturing Cost AnalysisMarketRelated AnalysisShareholder Value PlanningFinancial Analysis41Shareholder Value Added(SVA)is a measure of how much value a company is creating for its shareholders42.Cost to use investors money to buy Assets.The return shareholders require from their investment 43444546Michael Porters Five Forces Model is a great way to see the big picture in any industry.According to Porter,the state of competition in any industry depends on five basic forces:the rivalry among industry competitors the threat of potential entrants the power of suppliers the pressure from substitute products the power of customers4748While seeing the big picture is important,it is also necessary to understand local conditions if you want to act strategically.Understanding local conditions means understanding your costs,competition,customers,distribution channels,products,prices,and promotional activities.Seeing the big picture and understanding local conditions gives us the background for our most important strategic task positioning ourselves optimally within our environment.495051Act Strategically:Fords Vision and Strategy PyramidSuperiorShareholderReturnsWorlds LeadingConsumer Company thatProvides AutomotiveProducts and ServicesTransformation andGrowthStrong globalBrandsCONSUMER FOCUSSuperiorConsumerSatisfaction&LoyaltyBest Total ValueTo CustomersNimbleOrganizationWith leadersAt all levelsCorporateCitizenship52To act strategically you need to see the big picture understand local conditions position ourselves optimallyFords Vision and Strategy Pyramid is an example of a large step toward the goal of coordinated strategic action and optimal strategic positioning.However,to turn Strategic Vision into a Strategic Reality,all actions must support and improve the overall strategic position of the company.53Increase Net Income5455The Customer Value Equation5657Decreasing costs lets you make more money off of each product that is produced.Decreasing costs through improved processes can also lead to improved quality and less waste.Decreasing costs helps toIncrease Return on Sales58Increasing Customer Satisfaction makes more people want to buy your products.Increasing Customer Satisfaction also gives customers options that they are willing to pay for.Increasing CustomerSatisfaction helps to increaseReturn on Sales5960Follow The Money ConceptsCreate Business Units of OneEstablish Profit Centers for Different Business ChannelsDivide Business into Smaller Manageable SubsetsMake Every Salesperson Responsible for a Direct Business61Follow The Money ConceptsKnow the Profit of Everything You SellKnow the Variable Profit of Every Product and Service You SellKnow the Variable Profit by Major Series and Options within a Product LineKnow the Profit of Every Region,Zone,and Distribution ChannelFocus Resources on Improving Profit62Follow The Money ConceptsLeverage Production ProgrammingKnow the Profitability of Product PortfolioProgram Aggressively on HighMargin Products and Conservatively on LowMargin ProductsWork with PD and Manufacturing to Grow High Margin BusinessManage Product Allocation to Minimize Marketing And Maximize Profits63Follow The Money ConceptsGrow Non-Traditional Business ChannelsRun the Channel as a Profit CenterMaximize Total Profit for Every Definable SubsegmentPursue WinWin Opportunities with These Customers on HighMargin Products and ServicesWork on Unique Product OpportunitiesFocus on Service and Make Yourself IndispensableManage Residual Values64Follow The Money ConceptsBusiness Regional Sales StaffEstablish Businesses for Each Zone ManagerMake Sure They Know the Profit of Every Product and Service They SellDevelop Regional Profit Improvement Plans that Exploit Growth Opportunities on Profitable BusinessFocus on Dealer“Turns”to Improve Wholesale VolumesLeverage Regional Resources on HighMargin Production with Open Capacity65Follow The Money ConceptsLeverage Retail MarketingKnow the Profit of Every Product for Every Type of FinancingEstablish Process to Prioritize Mark