福特汽車財(cái)務(wù)系統(tǒng)介紹ppt課件

1、THE FINANCE ROLE IN BUSINESS TODAY.ROB PHEBUSCFO, FORD LIO HO26+ YEARS EXPERIENCE WITH FORD.The mission of Ford Finance is to contribute to the success of Ford Motor Company by being the most dynamic, efficient, and high-quality organization of its kind.Ford Finance people strive for excellence and

2、continuous improvement in the quality, effectiveness, and efficiency of the services they provide to internal and external customers.FINANCE MISSION & KEY RESPONSIBILITIES.Professional - Intelligence, Creativity, Judgment and Communication SkillsPersonal - Integrity, Initiative, Interpersonal Skills

3、 and TeamworkFinance Personnel Characteristics .Develop and operate high-quality financial reporting and control systemsDevelop optimal business practices and processesProvide high-quality analysis to support decisionsMake recommendations as Business AdvisorsFinance Roles.FINANCE FUNCTIONS.Financial

4、 Reporting - Financial Statements, Tax AccountingOperations Accounting - Cost Accounting, Transaction ProcessingInternal and Systems AuditingDealer AuditingSupplier Auditing Accounting & Auditing.Capital Structure and Dividend PlanningCash and Debt ManagementForeign Exchange ManagementPensions, Insu

5、rance, and Employee Payroll & SavingsTreasury.BUSINESS CONTROLTHE CFO PERSPECTIVEON GOVERNANCE.WHAT IS BUSINESS CONTROL?Accounting VerificationsSecurity and LocksInternal and External AuditChecklistsSignaturesAny action taken by management to enhance the likelihood that company objectives and goals

6、will be achieved on a sustained basis.ELEMENTS OF BUSINESS CONTROLRisk ManagementCorporate CultureProcesses and SystemsMonitoring.DRIVING FLAWLESS EXECUTIONBusiness control drives achievement of goals!CORPORATE CULTURERISK MANAGEMENTPROCESSES & SYSTEMSMONITORINGManagementACHIEVEMENT OF COMPANYGOALS

7、& OBJECTIVESEmployees.WHERE DO YOU FOCUS?Tax ComplianceDisasterRecoveryAccounts PayableAccountsReceivableAR CollectionsSalesRecognitionFacilities SecurityContractManagementEnvironmentalComplianceSafetyEngineeringHealth &SafetyFixed AssetsCredit FinancingInventoryPurchasingVariable MarketingFixed Mar

8、ketingWarrantyCustomsPayroll & TimekeepingSupplierManagementTreasuryCash ManagementJournal EntriesReconciliationProductDevelopmentInsuranceVehicle RemarketingSystem SecurityDistribution & Logistics.CFO TOP SIXGovernance and EthicsCash and TreasuryAsset IntegrityRevenuePurchasing and PayablesAccounti

9、ng.GOVERNANCE 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 & Ine

10、fficiencyETHICSLoss of ReputationLitigation IssuesAsset Loss.GUIDELINES 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 Reports.GUIDELIN

11、ES FOR AUDIT COMMITTEESMembershipTwo Or More Financially Adept DirectorsEach Should be Non-Executive 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

12、External Auditors At Least Annually.GUIDELINES 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 Appropriat

13、e Risk Management Processes EstablishedReview Appointment And Performance Of External AuditorReport To The Board On Matters Of The Committee.CASH AND TREASURYProtection and maximum utilization of cash and investment assetsCONTROLSAppropriate Cash Handling Delegations of AuthorityAccount Reconciliati

14、onHedging & 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 Risk.ASSET INTEGRITYProtection a

15、nd usability of Company physical and information assetsCONTROLSPhysical SecurityTagging & Cycle CountsReceiving/Shipping ProcessesApplication Control ReviewDisaster Recovery PlanPasswordsUser Access ReviewPOTENTIAL RISKSPHYSICAL ASSETSLoss, Theft, or DamageWaste & UnderutilizationINFORMATION ASSETSL

16、oss, Theft, or DamageSystem / Business Failure.REVENUETimely recognition of sales revenue and collection of receivablesCONTROLSSeparation of Revenue Recognition & Cash HandlingProcedures for Revenue RecognitionAging Follow-upBad Debt Allowance AnalysisAccount ReconciliationPOTENTIAL RISKSRevenue Ove

17、r/UnderstatedOverdue ReceivablesIneffective Collection Process Bad Debt Exposure.PURCHASING AND PAYABLESPurchasing high quality goods and services and paying the right amount at the right timeCONTROLSUse Purchasing ExpertiseBudget ManagementSupplier Database / Preferred Supplier ListingLow Value Pur

18、chase ReviewStandard Terms & ConditionsReceipt VerificationPre-Payment ReviewAccount ReconciliationPOTENTIAL RISKSPURCHASINGUnnecessary PurchasePrice too HighQuality Not to SpecificationContracts that Dont Support GoalsPAYABLESPay Wrong AmountPay for Goods not Received.ACCOUNTINGEnsuring that accoun

19、ting records are accurate and managed properlyCONTROLSAccount ReconciliationReconciling Item Follow-upJournal Entry Review & ApprovalUp-to-Date Chart of AccountsClosing ProceduresBudgeting & AnalysisPOTENTIAL RISKSACCOUNTS MISSTATEDImproper Entry MadeLegal Exposure to Shareholders / RegulatoryDATA N

20、OT USEFULPoor CategorizationNon-TimelyDATA NOT USED.EXERCISE: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

21、 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 in-basket requiring your attention. Review the narrative provided (a summarization of several introductory interviews) and the contents of your i

22、n-box. Which three concerns would you tackle first, and why? .BUSINESS 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 Revi

23、ew (ACR)Training.BUSINESS CONTROLHow to Build Control into Business Processes.Risk ManagementCorporate CultureProcesses and SystemsMonitoringRisk ManagementCorporate CultureProcesses and SystemsMonitoringELEMENTS OF BUSINESS CONTROL.WHY IN-PROCESS CONTROLS?PLANGOALPLANGOALHit the target every time w

24、ith Business Process ControlRepeatability SustainabilityWithout ControlWith Control.CREATE A CONTROLLED PROCESSUnderstand the ComponentsOutline the Existing ProcessDetermine Areas of RiskAssess the Existing ControlsRedefine the Process.1. UNDERSTAND THE COMPONENTSGOALWHERE DO YOU WANT TO GET?INPUTIN

25、PUTINPUTINPUTWHAT 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 enterprise-wide are your outputs someone elses inputs?.2. OUTLIN

26、E 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 FlowchartINPUTINPUTINPUTINPUT

27、OUTPUTOUTPUTOUTPUTOUTPUTGOAL.3. 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 Flags.3. DETERMINE AREAS OF

28、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 Detecti

29、ve vs. Preventative Controls.4. 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 mitig

30、ation?Is there a Company standard / guideline?What type of controls make sense?ProcessRisksControls.5. REDEFINE THE PROCESSBuild New Controls into ProcessMatch Resources to Risk LevelEnsure Agreement with StakeholdersINPUTINPUTINPUTINPUTOUTPUTOUTPUTOUTPUTOUTPUTNEWPROCESSDocument and CLEARLY Communic

31、ate Process AND Roles and Responsibilities.Risk ManagementCorporate CultureProcesses and SystemsMonitoringRisk ManagementCorporate CultureProcesses and SystemsMonitoringELEMENTS OF BUSINESS CONTROL.WHY MONITOR YOUR PROCESS?Process sets up a sequence of steps things can get stuckMonitoring is a red f

32、lagDeal with exceptionsAddress root cause in the upstream processABFCDEPLANGOAL.HOW 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 / GECBusine

33、ss Process Control Health ChartTarget1234Although 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 /

34、Transaction1/012/013/014/015/016/017/018/01Cost has not stabilized, and is consistently above budget.WHAT 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

35、.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.Profit Analysis a

36、nd Business Planning Forecasts and Budgets, Business Planning Process, Joint Ventures and AcquisitionsOperations Analysis - Product Development, Manufacturing Cost AnalysisMarket-Related AnalysisShareholder Value PlanningFinancial Analysis.Shareholder Value Added (SVA) is a measure of how much value

37、 a company is creating for its shareholders. Cost to use investors money to buy Assets. The return shareholders require from their investment .Michael 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

38、 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 customers.While seeing the big picture is important, it is also necessary to understand local conditions if you want to act strateg

39、ically.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 oursel

40、ves optimally within our environment.Act Strategically:Fords Vision and Strategy PyramidSuperiorShareholderReturnsWorlds LeadingConsumer Company thatProvides AutomotiveProducts and ServicesTransformation andGrowthStrong globalBrandsCONSUMER FOCUSSuperiorConsumerSatisfaction &LoyaltyBest Total ValueT

41、o CustomersNimbleOrganizationWith leadersAt all levelsCorporateCitizenship.To 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

42、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.Increase Net Income.The Customer Value Equation.Decreasing costs lets you make more money off of each product that is produced.

43、Decreasing costs through improved processes can also lead to improved quality and less waste.Decreasing costs helps toIncrease Return on Sales.Increasing Customer Satisfaction makes more people want to buy your products.Increasing Customer Satisfaction also gives customers options that they are will

44、ing to pay for.Increasing CustomerSatisfaction helps to increaseReturn on Sales.Follow The Money ConceptsCreate Business Units of OneEstablish Profit Centers for Different Business ChannelsDivide Business into Smaller Manageable SubsetsMake Every Salesperson Responsible for a Direct Business.Follow

45、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 Profit.Follow Th

46、e Money ConceptsLeverage Production ProgrammingKnow the Profitability of Product PortfolioProgram Aggressively on High-Margin Products and Conservatively on Low-Margin ProductsWork with PD and Manufacturing to Grow High- Margin BusinessManage Product Allocation to Minimize Marketing And Maximize Pro

47、fits.Follow The Money ConceptsGrow Non-Traditional Business ChannelsRun the Channel as a Profit CenterMaximize Total Profit for Every Definable Sub-segmentPursue Win-Win Opportunities with These Customers on High-Margin Products and ServicesWork on Unique Product OpportunitiesFocus on Service and Ma

48、ke Yourself IndispensableManage Residual Values.Follow 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 Profitab

49、le BusinessFocus on Dealer “Turns to Improve Wholesale VolumesLeverage Regional Resources on High-Margin Production with Open Capacity.Follow The Money ConceptsLeverage Retail MarketingKnow the Profit of Every Product for Every Type of FinancingEstablish Process to Prioritize Marketing on High-Margi

50、n ProductionFocus on Filling Open Capacity on High-Margin ProductsDrive Synergies with Supporting Adjacent BusinessesBalance Out Old Products EarlyTarget Marketing by Region and CustomerProtect Residual Values.Follow The Money ConceptsPrice Strategically to Improve MarginsKnow the Profit of All Prod

51、ucts, Options, and PackagesUse Pricing as a Tool to Increase Value on High-Profit Products (or Options)Price Aggressively to Improve Margins on Low-Margin ProductsReduce Complexity and Simplify Product Offerings (Validate with Market Research)Price Often to Minimize Market Effect of Increases.Follow

52、 The Money ConceptsEliminate Waste Focus on CashEstablish Disciplined Process to Eliminate ObsolescenceEliminate ReceivablesReduce Company InventoryCreate Tax Efficient ProcessesManage Currency Risk.Customers also must be delighted in the services that you offer.No matter which brand people buy, you

53、 must make sure that their ownership experiences are worry-free.Service brands that delightcustomers.Plays a critical role in the ongoing development of business competencies, one of which is brand marketing.Communications with the media, especially on new brands, help to shape the brand image.Price

54、 the product right for the target customer and find ways to reduce cost without negatively impacting the brand.As the primary interface with the vast array of suppliers, Purchasing must ensure that suppliers product proposals are in line with the brand.The guardian of quality and workmanship must un

55、derstand the brand to ensure that cost reductions and process changes do not harm the brands essence.Assists the company in developing robust processes, so that we may provide a consistent brand message over time.Decrease Net OperatingAssets.Why are asset turns important?“In the past, Ford might hav

56、e thought that certain parts of the business were doing well because they showed positive earnings. SVA, however, suggests that such a simple view does not go far enough.“Its possible that those parts of the business actually destroyed shareholder valuewith profits not high enough to cover the net o

57、perating assets and meet shareholder demands. SVA underscores the importance of creating profits while improving asset turns.At first glance, Product B appears to be better for the company because it produces more net income than Product A.Product B however is comparatively more asset intensive.Desp

58、ite its relatively high net income, Product B actually destroys shareholder value.Example of Asset TurnsProduct A B Net Income$ 500$ 700- Asset Charge 400 800= SVA$ 100$(100).Inventories generally represent a significant part of net operating assets.The best way to comprehensively reduce inventories

59、 is to adopt a Kanban (or “pull) philosophy.Kanban thinking focuses on maximizing the value-added flow and the efficiency of the overall system rather than an individual process step.Reduce Inventories.Is it in the best interest of the Company?When evaluating actions to increase SVA, remember to con

60、sider the complete business impact of your decision. Some actions MAY APPEAR to increase SVA but are either superficial financial engineering or not in the LONG-TERM best interest of the company.ExamplesSome cost reductions can make SVA higher in the short term, but lead to lower quality, decreased