Presented by SMU Cox School of Business
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Information
Date: April 19 – 23, 2010
Format: Five days, 8 a.m. – 5 p.m.
Cost: $6,250, includes five nights of lodging;
materials; breakfasts, lunches, breaks; one group dinner. A $1000
discount is applicable when registering for both the Strategic Financial
Skills and Strategic Leadership Skills courses that are scheduled
for a two-week period. Group discounts are also available for multiple
attendees from the same organization. Payment plans available.
"In today's competitive environment, energy companies
are doing more with less—and in leadership positions, technical
skills matter less than business acumen. Financial skills, accounting
knowledge, capital-allocation expertise and strategic insight are
necessary to make your mark in the company. This course tackles
those subjects and helps non-financial managers in every function
of the company understand, interpret and use data to make better
business decisions."
Michael R. Vetsuypens, Ph.D.,
Professor of Finance
SMU Cox School of Business
Description
Hundreds of executives have chosen our Strategic Financial Skills
program for its concentrated coverage of financial management techniques
uniquely tailored to the complexities of their industry. This comprehensive
weeklong program uses a hands-on approach to help you understand
and master the energy sector’s financial essentials. Your
instructors are senior teachers with significant experience in executive
development, business, consulting and energy industry financial
management. You’ll share ideas and discuss industry issues
with participants from around the world in small discussion groups
and lively classroom sessions. You’ll meet mid-level to senior-level
professionals from many segments of the energy industry and a variety
of functional areas within their companies. In a series of information-packed
class sessions, you'll learn the essentials of the business side
of the energy industry. By the end of the week, you'll have a working
knowledge of the key areas of financial management.
Topics
- Value creation. Focusing on the creation of value rather than
operational measures of success; how managerial decisions affect
the firm's value
- Capital investment and project evaluation. Basic discounted
cash flow concepts; estimating cash flows and determining the
appropriate cost of capital; comparing capital expenditure techniques—payback,
IRR, NPV, etc.; reappraising the project decision—some "softer"
issues to consider after the numbers have been run.
- Financial accounting techniques. Understanding the three primary
financial statements—income statement, balance sheet and
cash flow statement; distinguishing between reported profit and
cash flow; analyzing published oil and gas company annual reports;
reporting the results of oil and gas firms—full-cost vs.
successful-effort vs. standardized-measure data required by the
SEC
- Financial planning and forecasting. Planning the firm's sustainable
growth; estimating future financing needs based on pro-forma statements
and other projections; making short-term vs. long-term financing
decisions; planning for growth or decline
- Measuring performance. Measuring the performance of business
units and individual managers; interaction between measurement
systems and company strategy; evaluating performance in times
of uncertainty
- Performance management. Aligning incentive compensation and
strategy; designing incentive plans based on economic-value-added
principles; the balanced-scorecard approach
- Financing large energy projects. Comparing project financing
to internal financing; creating value by efficiently allocating
risk; understanding how capital markets evaluate risk and return
in infrastructure projects; assessing bond rating process
- Financial engineering. Demystifying derivatives; understanding
forwards, futures, swaps and options; weighing the benefits and
risks of hedging programs
Benefits
- Gain a working knowledge of key financial techniques, practices,
terminology and controversies
- Learn essential financial concepts to strengthen your management
skills—in a concentrated setting away from the workplace
- Participate in stimulating classroom case discussions on relevant
oil and gas industry topics
- Learn how other companies have implemented successful financial
strategies
- Prepare yourself to make better financial and operating decisions—and
master a better decision-making framework
- Acquire techniques for assessing the performance of your subordinates,
your division, or your company
- Study and develop concepts and techniques you can apply to your
job immediately
- Prepare yourself for advancement to a more senior management
role in your company
Please visit our Calendar
of Events for all upcoming courses.
Register
On-Line
Who Should Attend
- Mid-senior level non-financial managers wishing to achieve financial
literacy in an energy-industry setting
- Financial managers wishing to sharpen their skills, broaden
their base of knowledge and relate their functional skills to
a broader, general management context
- Typical participants have more than five years of management
experience, range in age from mid-30s to early 50s and work for
oil and gas firms or for firms in related energy industries, including
pipeline companies, service and supply organizations, government
agencies and financial institutions.
Michael F. van Breda, Ph.D., associate professor
of accounting, teaches managerial accounting at the undergraduate
and graduate levels. He also teaches accounting theory, financial
accounting and advanced topics in accounting. In 22 years of teaching
at SMU, van Breda has served as chairman of the Accounting, Business
Law and Tax departments; director of the SMU-in-Oxford program;
and director of the Graduate Certificate Program in Finance. He
has received numerous teaching awards. Van Breda is the author of
“Prediction of Corporate Earnings and Accounting Theory”
and numerous scholarly articles. His primary research interests
are accounting theory and accounting history. Van Breda completed
his undergraduate studies in pure mathematics and theoretical physics
at the University of Stellenbosch. He holds a master’s degree
in business, summa cum laude, from the University of Cape Town and
a doctor of philosophy degree in accounting from Stanford University.
Jody Magliolo, Ph.D., is professor and distinguished
chair in accounting. Magliolo taught accounting in the undergraduate
and MBA programs at Carnegie-Mellon University and the Wharton School
before joining Southern Methodist University. Magliolo’s primary
teaching interests lie in the areas of financial accounting and
financial statement analysis. His dissertation examined oil and
gas firms’ “reserve recognition accounting” disclosures.
These disclosures, included as a part of oil and gas firms’
annual reports, value firms oil and gas reserves using rules specified
by accounting policymakers. Subsequent research analyzed the relations
between proved reserve disclosures in the financial statements and
the valuation of oil and gas firms. Magliolo’s excellence
in the classroom has been recognized with teaching awards for graduate
student instruction at Wharton and SMU. He is also the recipient
of the Cox 1995 MBA Distinguished Teaching Award and the 1996 Research
Excellence Award. Magliolo’s current research focuses on the
interaction of financial accounting and regulatory issues in banks
and insurance companies. He has published articles in the “Journal
of Accounting Research,” the “Journal of Accounting
and Economics,” the “Journal of Accounting, Auditing
and Finance,” and “The Accounting Review,” where
he has served as a member of the editorial board. He earned a bachelor
of science degree in chemical engineering from the University of
Texas and served as a process engineer for Union Carbide. He holds
a master’s degree in business administration from the University
of Texas and a doctor of philosophy degree from Stanford University.
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