At the strategic, operational and tactical levels of managing the finance function of an organization, critical economic data is needed to properly forecast the impact of the economy on an organization. The course will provide you with critical economic information of topics relevant to the financial executive and provide various potential forecast scenarios and the impact on the organization.
Course ID: AUCC
Annual Update of Essential Information for Controllers and CFO’s
Learning Objectives
- Analyze critical economic issues facing the finance department of an organization and the forecasting process
- Develop an understanding of the COSO standards of risk and the impact on AU-C 314 and AU-C 316
- At the conclusion of the course, the student will be able to:
- Analyze the impact of inflation statistics
- Analyze the impact of the Federal Open Market Committee Meeting minutes on the money supply, banking relations, and the potential direction of interest rates
- Analyze the impact of future interest rates and fair value impact on assets
- Examine trends and analyze the impact of unemployment and the labor force participation rate and potential impact on pay and benefits.
- Analyze the impact and future of oil and gas futures and other commodities
- Determine the impact of federal deficit spending and the future of the deficit and potential impact on corporate funds availability.
- Evaluate social security funding shortfalls
- Evaluate impact of unemployment compensation costs and rates by state
- Evaluate impact of Workers Compensation costs and rates by state
- Analyze the future of medical care in the United States and impact on employees and total costs by state
- Determine the impact of international economic issues on domestic operations
- Recommendations for the next year economic forecast
Major Topics
The course will examine and walk-through key economic, accounting, and finance data across the United States and internationally and its effect on both domestic and international corporations and the ability to forecast impact on corporate planning and operations.
Who Should Attend
CPAs, industry accounting staff, C-level corporate officers
Fields of Study
EconomicsPrerequisites
None