Course detail
Finance Services Center Management
FP-fscmKAcad. year: 2018/2019
The course is focussed on the following areas of shared services centres (SSCs): SSCs concept, project management, transition, process documentation, accounting, IFRS, accounts payable, accounts receivable, knowledge transfer, business process improvement, corporate values and culture, and soft skills.
Language of instruction
English
Number of ECTS credits
2
Mode of study
Not applicable.
Guarantor
Department
Learning outcomes of the course unit
The student can explain the centralisation of processes as a way to manage supporting functions in global economy. They know how to explain project management applied to shared services centres. They know the basics of process documentation, due process and convergence between CZ GAAP and IFRSs. They know the main skills required in the shared service centres.
Prerequisites
A knowledge of accountancy and corporate finance, ability to work with Microsoft Excel.
Co-requisites
Not applicable.
Planned learning activities and teaching methods
The course is made up of seminars that explain the basic principles, problems and characteristics of shared services centres financial management. The seminars combine theory with best practice studies and business game simulations.
Assesment methods and criteria linked to learning outcomes
The examination is classified according to the ECTS scale. Exams in the classroom and exams for homework are classified at the end of each seminar. The final classification is given by sum total of individual classifications.
Course curriculum
SSCs concept; project management; transition, process documentation, knowledge transfer, IFRS foundation and statements, accounting – finance macroprocess; continual improvement; corporate value and culture; soft skills.
Work placements
Not applicable.
Aims
The main objective of the course is to introduce the shared services centres concept - its core elements with a focus on financial management.
Specification of controlled education, way of implementation and compensation for absences
Participation in seminars is compulsory and active participation by students is required. Attendance is checked by exams in the classroom and an attendance sheet.
Recommended optional programme components
Not applicable.
Prerequisites and corequisites
Not applicable.
Basic literature
Not applicable.
Recommended reading
Not applicable.
Classification of course in study plans
- Programme MGR-KS Master's
branch MGR-UFRP-KS , 2 year of study, winter semester, elective
Type of course unit
Guided consultation in combined form of studies
3 hod., compulsory
Teacher / Lecturer
Syllabus
The basic topics of the seminars are as follows:
1. Shared services centres concept - Centralisation of processes as a way to manage supporting functions in global economy. Review of the main drivers and implications of SSC's for corporations.
2. Project management applied to shared services centres - Business Case Review, Programme Management, Project Governance, Risk and Issue Management, Financial Review, and closing the projects.
3. General transition overview - Planning and managing transitions of business processes from clients to central location in Shared Service Centre. Review of the main workstreams of transition: Configure Solution, Due Diligence, Manage Knowledge Transfer, Service management, Technology and Work Environment, Deploy Process and Training.
4. Main features and techniques used for process documentation.
5. Transition exercise - Transition activities in real life experience with a focus on performing Knowledge Transfer tasks from planning through execution to reporting and closure.
6. Accounting - due process and convergence between CZ GAAP and IFRS. Objective of financial statements, basic elements of financial statements and their recognition.
7. Accounting - Overview of order to cash (O2C) and the procure to pay (P2P) processes in a production company with a focus on the accounting part of the process. Interaction with other departments, workflow, contact with customers, contact with suppliers.
8. Accounting - Monthly closing process, time schedule of the monthly closing activities, other monthly activities of the financial department, year-end closing, time schedule, components of financial statements, purpose of financial statements, financial audit.
9. Business process improvement - Continuous improvement an overview and business game.
10. Business process improvement - Multiple round business simulation focused on finding improvements in the given process.
11. Business process improvement - Multiple round business simulation focused on finding improvements in the given process.
12. Corporate value and culture - An inside look at the core values of highly-engaged and successful companies to learn what makes them tick, what they believe and how they do business.
13. Soft skills - Overview of the main skills required in SSCs and thus help to realise gaps and personal opportunities.
14. Summary of the semester - a wrap up, review of the knowledge/skills enhancing, feedback from students.
1. Shared services centres concept - Centralisation of processes as a way to manage supporting functions in global economy. Review of the main drivers and implications of SSC's for corporations.
2. Project management applied to shared services centres - Business Case Review, Programme Management, Project Governance, Risk and Issue Management, Financial Review, and closing the projects.
3. General transition overview - Planning and managing transitions of business processes from clients to central location in Shared Service Centre. Review of the main workstreams of transition: Configure Solution, Due Diligence, Manage Knowledge Transfer, Service management, Technology and Work Environment, Deploy Process and Training.
4. Main features and techniques used for process documentation.
5. Transition exercise - Transition activities in real life experience with a focus on performing Knowledge Transfer tasks from planning through execution to reporting and closure.
6. Accounting - due process and convergence between CZ GAAP and IFRS. Objective of financial statements, basic elements of financial statements and their recognition.
7. Accounting - Overview of order to cash (O2C) and the procure to pay (P2P) processes in a production company with a focus on the accounting part of the process. Interaction with other departments, workflow, contact with customers, contact with suppliers.
8. Accounting - Monthly closing process, time schedule of the monthly closing activities, other monthly activities of the financial department, year-end closing, time schedule, components of financial statements, purpose of financial statements, financial audit.
9. Business process improvement - Continuous improvement an overview and business game.
10. Business process improvement - Multiple round business simulation focused on finding improvements in the given process.
11. Business process improvement - Multiple round business simulation focused on finding improvements in the given process.
12. Corporate value and culture - An inside look at the core values of highly-engaged and successful companies to learn what makes them tick, what they believe and how they do business.
13. Soft skills - Overview of the main skills required in SSCs and thus help to realise gaps and personal opportunities.
14. Summary of the semester - a wrap up, review of the knowledge/skills enhancing, feedback from students.