福特汽车财务系统介绍.ppt

1,THEFINANCEROLEINBUSINESSTODAY,2,ROBPHEBUSCFO,FORDLIOHO26+YEARSEXPERIENCEWITHFORD,3,ThemissionofFordFinanceistocontributetothesuccessofFordMotorCompanybybeingthemostdynamic,efficient,andhigh-qualityorganizationofitskind.FordFinancepeoplestriveforexcellenceandcontinuousimprovementinthequality,effectiveness,andefficiencyoftheservicestheyprovidetointernalandexternalcustomers.,FINANCEMISSION&KEYRESPONSIBILITIES,4,Professional-Intelligence,Creativity,JudgmentandCommunicationSkillsPersonal-Integrity,Initiative,InterpersonalSkillsandTeamwork,FinancePersonnelCharacteristics,5,Developandoperatehigh-qualityfinancialreportingandcontrolsystemsDevelopoptimalbusinesspracticesandprocessesProvidehigh-qualityanalysistosupportdecisionsMakerecommendationsasBusinessAdvisors,FinanceRoles,6,FINANCEFUNCTIONS,7,FinancialReporting-FinancialStatements,TaxAccountingOperationsAccounting-CostAccounting,TransactionProcessingInternalandSystemsAuditingDealerAuditingSupplierAuditing,Accounting&Auditing,8,CapitalStructureandDividendPlanningCashandDebtManagementForeignExchangeManagementPensions,Insurance,andEmployeePayroll&Savings,Treasury,9,BUSINESSCONTROLTHECFOPERSPECTIVEONGOVERNANCE,10,WHATISBUSINESSCONTROL?,AccountingVerifications,SecurityandLocks,InternalandExternalAudit,Checklists,Signatures,Anyactiontakenbymanagementtoenhancethelikelihoodthatcompanyobjectivesandgoalswillbeachievedonasustainedbasis,11,ELEMENTSOFBUSINESSCONTROL,12,DRIVINGFLAWLESSEXECUTION,Businesscontroldrivesachievementofgoals!,13,WHEREDOYOUFOCUS?,14,CFOTOPSIX,GovernanceandEthicsCashandTreasuryAssetIntegrityRevenuePurchasingandPayablesAccounting,15,GOVERNANCEANDETHICS,Establishingadecisionframeworkfordoingtherightthing,16,GUIDELINESFORAUDITCOMMITTEES,PurposeProvideAssistanceToTheBoardOfDirectorsOnItsFiduciaryResponsibilitiesEnsureReliabilityOfAccountingAndControls,ReportingPractices,AndQualityAndIntegrityOfFinancialReports,17,GUIDELINESFORAUDITCOMMITTEES,MembershipTwoOrMoreFinanciallyAdeptDirectorsEachShouldbeNon-ExecutiveMembersOfTheBoardCompanyCFOAndExternalAuditorsShouldAttendMeetingsButAreNotCommitteeMembersMeetingsHeldAtEachBoardMeetingIndividualMeetingsBetweenCommitteeAndCompanyCFOAndExternalAuditorsAtLeastAnnually,18,GUIDELINESFORAUDITCOMMITTEES,DutiesAndResponsibilitiesAssureReliabilityOfAccountingPracticesAssureAdequateInternalControlProcessesAssureComplianceWithLegalRequirementsAndCompanyPolicyAssureAdherenceToACompanyCodeOfConductAssureAppropriateRiskManagementProcessesEstablishedReviewAppointmentAndPerformanceOfExternalAuditorReportToTheBoardOnMattersOfTheCommittee,19,CASHANDTREASURY,Protectionandmaximumutilizationofcashandinvestmentassets,20,ASSETINTEGRITY,ProtectionandusabilityofCompanyphysicalandinformationassets,21,REVENUE,Timelyrecognitionofsalesrevenueandcollectionofreceivables,22,PURCHASINGANDPAYABLES,Purchasinghighqualitygoodsandservicesandpayingtherightamountattherighttime,23,ACCOUNTING,Ensuringthataccountingrecordsareaccurateandmanagedproperly,24,EXERCISE:SPECIALMETALSTAMPERS,INC.,Method:IndividualExerciseObjective:UsetheCFOTopSixtosiftthroughinformationandfindcriticalcontrolconcernsTime:CompleteBeforeClass,Instructions:YouareRobinJames,andtodayyouaretakingoverfromJohnSmithasControlleratSpecialMetalStampers,Inc.awhollyownedsubsidiaryofWeBuildCars.Asyousitdownatyourdesk,younoticeafullin-basketrequiringyourattention.Reviewthenarrativeprovided(asummarizationofseveralintroductoryinterviews)andthecontentsofyourin-box.Whichthreeconcernswouldyoutacklefirst,andwhy?,25,BUSINESSCONTROLTOOLS,InternalControlCoordinatorsModularControlReviewPrograms6-SigmaTheGAO,Nowthatyouknowwheretofocus,whattoolscanyouusetofindandaddressconcerns?,CorporatePoliciesandStandardsApplicationControlReview(ACR)Training,26,BUSINESSCONTROLHowtoBuildControlintoBusinessProcesses,27,ELEMENTSOFBUSINESSCONTROL,28,WHYIN-PROCESSCONTROLS?,HitthetargeteverytimewithBusinessProcessControlRepeatabilitySustainability,WithoutControl,WithControl,29,CREATEACONTROLLEDPROCESS,UnderstandtheComponentsOutlinetheExistingProcessDetermineAreasofRiskAssesstheExistingControlsRedefinetheProcess,30,1.UNDERSTANDTHECOMPONENTS,GOAL,WHEREDOYOUWANTTOGET?,WHATDATAFEEDSYOURPROCESS?Remembercanbeexternalorinternal,WHATPROCESSESAREUSED?Whatresources(peopleandsystems)areusedtotransformtheinput?,WHATISTHERESULTOFYOURPROCESS?Thinkenterprise-wideareyouroutputssomeoneelsesinputs?,31,2.OUTLINETHEPROCESS,StatetheGoal-IsitMeasurable&Specific?DetailtheProcess-HowdoInputsOutputs?IdentifyProcessSteps(Sequence/Dependency)WhenareDecisionsRequired?Watchfor“DeadEnds”EndShouldEqualOutputLookacrossOrganizationsUnderstandHandoffsDrawaFlowchart,GOAL,32,3.DETERMINEAREASOFRISK,AssessGoalAlignmentHasthegoalchanged?DoestheoutputsupportthegoalDoesFailure(ofanyprocessstep)ImpactAchievementofGoals?Whatistheconsequenceoffailure?Whataretheoddsitcouldfail?LookforRedFlags,33,3.DETERMINEAREASOFRISK,SomePossibleRedFlagsHoldingAreas(e.g.overduepayments,unmatchedreceipts,incompleteorders)KeyCommunicationPointsTransitions(handoffs,transitions,etc.)KeyDecisionPointsManual/PaperProcessesAnythingThatCantBeExplainedLongDelaysinRetrievingInformationRelianceonDetectivevs.PreventativeControls,34,4.ASSESSEXISTINGCONTROLS,IDENTIFYEXISTINGCONTROLSPreventiveReduceslikelihoodofconsequenceDetectiveIdentifiesand(ifpossible)correctsundesiredresultsDirectingEncouragesadesirablebehaviortooccurASSESSCONTROLvs.RISKWhichrisksrequireadditionalmitigation?IsthereaCompanystandard/guideline?Whattypeofcontrolsmakesense?,Process,Risks,Controls,35,5.REDEFINETHEPROCESS,BuildNewControlsintoProcessMatchResourcestoRiskLevelEnsureAgreementwithStakeholders,NEWPROCESS,DocumentandCLEARLYCommunicateProcessANDRolesandResponsibilities,36,ELEMENTSOFBUSINESSCONTROL,37,WHYMONITORYOURPROCESS?,ProcesssetsupasequenceofstepsthingscangetstuckMonitoringisaredflagDealwithexceptionsAddressrootcauseintheupstreamprocess,38,HOWDOYOUMONITOR?,IdentifyKeyControlPointsintheProcessDetermineMetricsforthosePoints&OutputsEstablishTargets,Triggers,andVarianceGuidesReviewMetricsFrequentlyinandacrossDepartments,CBG/GECBusinessProcessControlHealthChart,Target,1,2,3,4,Althoughconsistent,steadyimprovementwasevidencedinmonths2and3,adeclineincontrolwasidentifiedinmonth4.Investigationofcausalfactorsidentifiedachangeinpersonneltrainingfornewemployeehasbeenprioritized.,Transactions90days,1/01,2/01,3/01,4/01,5/01,6/01,7/01,8/01,Costhasnotstabilized,andisconsistentlyabovebudget.,39,WHATHAPPENSWITHOUTCONTROL?,Norobustterminationprocess,Terminationfeesnotpaid,Cash$1.3million,TheabsenceofarobustterminationprocessimpactedtheCompanysabilitytorecoverpaymentsowed.,TheModelEprogramwaslaunchedtoprovideemployeeswithaccesstotheElectronicAgebyofferingacomputerandinternetaccessfor$5permonth.EmployeesagreetopayaterminationfeeiftheylefttheCompanypriortothe36-monthcontractend.160,000employeesparticipated.,40,41,ProfitAnalysisandBusinessPlanningForecastsandBudgets,BusinessPlanningProcess,JointVenturesandAcquisitionsOperationsAnalysis-ProductDevelopment,ManufacturingCostAnalysisMarket-RelatedAnalysisShareholderValuePlanning,FinancialAnalysis,42,ShareholderValueAdded(SVA)isameasureofhowmuchvalueacompanyiscreatingforitsshareholders,43,.CosttouseinvestorsmoneytobuyAssets.Thereturnshareholdersrequirefromtheirinvestment,44,45,46,47,MichaelPortersFiveForcesModelisagreatwaytoseethebigpictureinanyindustry.AccordingtoPorter,thestateofcompetitioninanyindustrydependsonfivebasicforces:therivalryamongindustrycompetitorsthethreatofpotentialentrantsthepowerofsuppliersthepressurefromsubstituteproductsthepowerofcustomers,48,49,Whileseeingthebigpictureisimportant,itisalsonecessarytounderstandlocalconditionsifyouwanttoactstrategically.Understandinglocalconditionsmeansunderstandingyourcosts,competition,customers,distributionchannels,products,prices,andpromotionalactivities.Seeingthebigpictureandunderstandinglocalconditionsgivesusthebackgroundforourmostimportantstrategictaskpositioningourselvesoptimallywithinourenvironment.,50,51,52,ActStrategically:FordsVisionandStrategyPyramid,SuperiorShareholderReturns,WorldsLeadingConsumerCompanythatProvidesAutomotiveProductsandServices,TransformationandGrowth,StrongglobalBrands,CONSUMERFOCUS,SuperiorConsumerSatisfaction&Loyalty,BestTotalValueToCustomers,NimbleOrganizationWithleadersAtalllevels,CorporateCitizenship,53,ToactstrategicallyyouneedtoseethebigpictureunderstandlocalconditionspositionourselvesoptimallyFordsVisionandStrategyPyramidisanexampleofalargesteptowardthegoalofcoordinatedstrategicactionandoptimalstrategicpositioning.However,toturnStrategicVisionintoaStrategicReality,allactionsmustsupportandimprovetheoverallstrategicpositionofthecompany.,54,IncreaseNetIncome,55,56,TheCustomerValueEquation,57,58,Decreasingcostsletsyoumakemoremoneyoffofeachproductthatisproduced.Decreasingcoststhroughimprovedprocessescanalsoleadtoimprovedqualityandlesswaste.,DecreasingcostshelpstoIncreaseReturnonSales,59,IncreasingCustomerSatisfactionmakesmorepeoplewanttobuyyourproducts.IncreasingCustomerSatisfactionalsogivescustomersoptionsthattheyarewillingtopayfor.,IncreasingCustomerSatisfactionhelpstoincreaseReturnonSales,60,61,FollowTheMoneyConcepts,CreateBusinessUnitsofOneEstablishProfitCentersforDifferentBusinessChannelsDivideBusinessintoSmallerManageableSubsetsMakeEverySalespersonResponsibleforaDirectBusiness,62,FollowTheMoneyConcepts,KnowtheProfitofEverythingYouSellKnowtheVariableProfitofEveryProductandServiceYouSellKnowtheVariableProfitbyMajorSeriesandOptionswithinaProductLineKnowtheProfitofEveryRegion,Zone,andDistributionChannelFocusResourcesonImprovingProfit,63,FollowTheMoneyConcepts,LeverageProductionProgrammingKnowtheProfitabilityofProductPortfolioProgramAggressivelyonHigh-MarginProductsandConservativelyonLow-MarginProductsWorkwithPDandManufacturingtoGrowHigh-MarginBusinessManageProductAllocationtoMinimizeMarketingAndMaximizeProfits,64,FollowTheMoneyConcepts,GrowNon-TraditionalBusinessChannelsRuntheChannelasaProfitCenterMaximizeTotalProfitforEveryDefinableSub-segmentPursueWin-WinOpportunitieswithTheseCustomersonHigh-MarginProductsandServicesWorkonUniqueProductOpportunitiesFocusonServiceandMakeYourselfIndispensableManageResidualValues,65,FollowTheMoneyConcepts,BusinessRegionalSalesStaffEstablishBusinessesforEachZoneManagerMakeSureTheyKnowtheProfitofEveryProductandServiceTheySellDevelopRegionalProfitImprovementPlansthatExploitGrowthOpportunitiesonProfitableBusinessFocusonDealer“Turns”toImproveWholesaleVolumesLeverageRegionalResourcesonHigh-MarginProductionwithOpenCapacity,66,FollowTheMoneyConcepts,LeverageRetailMarketingKnowtheProfitofEveryProductforEveryTypeofFinancingEstablishProcesstoPrioritizeMarketingonHigh-MarginProductionFocusonFillingOpenCapacityonHigh-MarginProductsDriveSynergieswithSupportingAdjacentBusinessesBalanceOutOldProductsEarlyTargetMarketingbyRegionandCustomerProtectResidualValues,67,FollowTheMoneyConcepts,PriceStrategicallytoImproveMarginsKnowtheProfitofAllProducts,Options,andPackagesUsePricingasaTooltoIncreaseValueonHigh-ProfitProducts(orOptions)PriceAggressivelytoImproveMarginsonLow-MarginProductsReduceComplexityandSimplifyProductOfferings(ValidatewithMarketResearch)PriceOftentoMinimizeMarketEffectofIncreases,68,FollowTheMoneyConcepts,EliminateWasteFocusonCashEstablishDisciplinedProcesstoEliminateObsolescenceEliminateReceivablesReduceCompanyInventoryCreateTaxEfficientProcessesManageCurrencyRisk,69,70,Customersalsomustbedelightedintheservicesthatyouoffer.,Nomatterwhichbrandpeoplebuy,youmustmakesurethattheirownershipexperiencesareworry-free.,Servicebrandsthatdelightcustomers,71,72,Playsacriticalroleintheongoingdevelopmentofbusinesscompetencies,oneofwhichisbrandmarketing.Communicationswiththemedia,especiallyonnewbrands,helptoshapethebrandimage.Pricetheproductrightforthetargetcustomerandfindwaystoreducecostwithoutnegativelyimpactingthebrand.Astheprimaryinterfacewiththevastarrayofsuppliers,Purchasingmustensurethatsuppliersproductproposalsareinlinewiththebrand.Theguardianofqualityandworkmanshipmustunderstandthebrandtoensurethatcostreductionsandprocesschangesdonotharmthebrandsessence.Assiststhecompanyindevelopingrobustprocesses,sothatwemayprovideaconsistentbrandmessageovertime.,73,DecreaseNetOperatingAssets,74,75,76,77,78,79,80,Whyareassetturnsimportant?,“Inthepast,Fordmighthavethoughtthatcertainpartsofthebusinessweredoingwellbecausetheyshowedpositiveearnings.SVA,however,suggeststhatsuchasimpleviewdoesnotgofarenough”.“Itspossiblethatthosepartsofthebusinessactuallydestroyedshareholdervaluewithprofitsnothighenoughtocoverthenetoperatingassetsandmeetshareholderdemands.SVAunderscorestheimportanceofcreatingprofitswhileimprovingassetturns.”,81,Atfirstglance,ProductBappearstobebetterforthecompanybecauseitproducesmorenetincomethanProductA.ProductBhoweveriscomparativelymoreassetintensive.Despiteitsrelativelyhighnetincome,ProductBactuallydestroysshareholdervalue.,ExampleofAssetTurns,82,Inventoriesgenerallyrepresentasignificantpartofnetoperatingassets.ThebestwaytocomprehensivelyreduceinventoriesistoadoptaKanban(or“pull”)philosophy.Kanbanthinkingfocusesonmaximizingthevalue-addedflowandtheefficiencyoftheoverallsystemratherthananindividualprocessstep.,ReduceInventories,83,IsitinthebestinterestoftheCompany?,WhenevaluatingactionstoincreaseSVA,remembertoconsiderthecompletebusinessimpactofyourdecision.SomeactionsMAYAPPEARtoincreaseSVAbutareeithersuperficialfinancialengineeringornotintheLONG-TERMbestinterestofthecompany.,ExamplesSomecostreductionscanmakeSVAhigherintheshortterm,butleadtolowerquality,decreasedcustomersatisfactionandlowerSVAoverthelongterm.LeasingassetscandecreasenetoperatingassetsbutmaynotalwaysincreaseSVA.Theassociatedleasingcostsmaybegreaterthanthebenefitoflowernetoperatingassets.,84,BusinessAdvisorPlanningCycle,StrategicReviewBusinessPlanObjectiveSettingandManagementReporting,85,STRATEGICPLANNINGPROCESS,(1)Acustomerfocus,(2)AclearVisionandMission,(3)AffordableBusinessStructuresand(4)Goals,strategiesandtacticswhichsupportcustomerneedsaswellasthecompanyVisionandMission.,Providesthebackdropforsounddecision-makingandbusinessplanning.Keyelementsofthestrategicplanningprocessinclude:,86,STRATEGICPLANNINGPROCESSELEMENTS,Vision:Whattheorganizationwantstobeinthelongrun.Mission:WhattheorganizationdoesorneedstodotoachieveitsVision.StrategicPlan:ThegoalsthatmustbeachievedandthebroadgeneralstrategiesinherentinthosegoalsfortheMission.BusinessPlan:Eachoperationdevelopsspecificstrategiesandgeneraltacticsintheformofabusinessplanthatisspecificallytime-boundtoachievetheStrategicPlan.Budget:ThecurrentyearoperatingactionsintheBusinessPlan,87,PRODUCTPLANSAREATTHEHEARTOFTHEBUSINESS,AffordableBusinessStructure:Affordabilityisdefinedbythemarketequationandacompetitiveprofitreturn.CompanyFinancialRequirements:EachmajoroperationisexpectedtogeneratesufficientnetcashflowtofunditsgrowthandtogeneratepositiveSVA.ExternalMarketFactors:Theexternalmarketfactorsdeterminetheparameterswithinwhichyouestablishthevariablesfortheaffordablebusinessstructure,88,FORDSANNUALPLANNINGPROCESSASANEXAMPLE,ExternalFactorsStudy:Establishesthekeycompetitive,economicandgovernmentalscenariosthatcanaffectthebusiness.CyclePlan:Providesa10-yearoutlookforvehicleproductprograms.FinancialPlanningVolumes(FPVs):Representtrendautomotiveindustryandsegmentvolumesusedforlong-termfinancialplanning.,89,FORDSANNUALPLANNINGPROCESSASANEXAMPLE,BusinessPlan:ProvidesthefinancialquantificationoftheOperatingPlansandCommitmentsandincludekeyfinancialtargets.CashandSpendin