Education
In 2006 she graduated from the Financial Academy under the Government of the Russian Federation. Economist with a degree in Accounting, Analysis and Audit.
2009 defended her thesis at the Postgraduate School of the Financial Academy under the Government of the Russian Federation. Candidate of Economic Sciences. Specialty 08.00.12 - "Accounting, statistics".
In 2012 she completed her studies in the full ACCA program. Membership Diploma. (The Association of Chartered Certified Accountants, Member).
Diplomas. Certificates. Certificates
- Diploma of higher education
- ACCA Diploma in International Financial Reporting (DipIFR)
- ACCA membership certificate
- Certificate of honorary member of ACCA
- Certificate of professional accountant - financial consultant
- Certificate in Financial Statement Transformation
- ACCA Training Certificate (DipIFR)
- Certificate of professional development in 2009
- Certificates of advanced training in 2008
- Certificate of the program "Russian Intellectual Resources"
- Certificate of publishing house Who is Who (Switzerland) on the inclusion of a biography in the collection Who is Who in Russia
Field of activity
An expert in the field of financial and management reporting, IFRS reporting, business process automation (over 10 years of practice in large, medium and small businesses).
Chief Editor professional magazine and the Finotchet.ru system., has many publications on the preparation of financial statements in accordance with IFRS and management reporting.
Lecturer at the Financial University, University of Economics, Statistics and Informatics, Institute international standards accounting and management. Author and presenter of educational webinars and corporate trainings.
Professional experience
in the field of accounting consulting:
Accounting outsourcing in full, personalized accounting, funds, statistics. Client consulting. Participation in audits and projects to restore and set up accounting, optimize taxation. Work as chief accountant, financial director. Branches: services, trade, production, construction.
in the field of IFRS:
Projects on transformation, introduction of parallel accounting, audit of statements in IFRS format. Transformation in full. Writing and defending reports. Development and implementation of methods of transformation and consolidation, parallel accounting. Industries: manufacturing, services, insurance, banks, trade, investment companies, aviation.
Snezhana Manko
How to Tidy Up Your Company Finances: A Practical Guide for Small and Medium Businesses
Editor D. Salnikova
Chief Editor S. Turco
Project Manager M. Shalunova
Cover design Y. Buga
Correctors E. Aksenova, N. Vitko
Computer layout M. Potashkin
© Snezhana Manko, 2018
© Alpina Publisher LLC, 2018
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* * *When after working with big companies, where business processes are built and automated, financial management methodology is built up, where teams of strong financiers, consultants, auditors work, where is the question “How to increase EBITDA?” causes not laughter, but real concern of top management, I immersed myself in the finance of medium, small and small companies, and found that it cannot be called finance. Rather, financial chaos or lack of financial management, financial management and even the most elementary financial accounting.
At first I thought that this was probably an isolated case. But ... one company, then the second, fifth, tenth, fiftieth, about a hundred companies (revenue from 0.3 to 30 million rubles per month, the number of employees from three to one hundred and fifty, areas of activity from one to twelve), with which I managed to work in recent years on financial modeling, financial analysis, business automation, implementation of accounting systems, preparation of management reporting, hiring financial staff, creating financial departments, training managers in financial literacy - everywhere is about the same thing. It became clear that the mess in finance is not a unique case, but a massive systemic error in small and medium Russian business(not without exceptions, of course).
The error is this.
1. Business owner (he, as a rule, also CEO, if we are talking about small business) understands that the company's finances are a mess. This happens when he cannot find answers to questions:
how much profit he earned;
how much can withdraw dividends;
why we work more and more, but there is no money;
who owes us, to whom we owe;
why there is no money again and where to get it (cash gap);
what is the contribution of each employee to the result.
I’m not talking about such questions as “how much is my business worth”, “what are the assets in the business”, “how to attract funding at a low rate”, “what will happen to the result if you open new directions, launch new products, etc. etc., which many people don't think about.
2. The business owner delegates the issue of finance to a specialist (accountant, financier, consultants) in order to start counting money (a typical request is “count at least something”, or “count everything”, or “put finances in order”), without understanding what should be the output, what will be the result of solving this problem.
3. After some time, accounting, figures, separate reports appear, but the overall picture is still not visible and understandable, since there is no management reporting (a set of data for making balanced and economically justified management decisions). Also, there is still no normal financial planning, financial analysis, control and financial management, no comprehensive financial management system. In principle, it is logical, because at the previous stage there was no such request. What they asked for, they got.
The second scenario is that the system appears (especially if it was ordered from external consultants who know what should be the output and completed the task of creating the system). But the company does not start using the system for its intended purpose, uses it minimally or does not use it at all, arguing as follows: “It is too early for us to deal with financial planning / there is no one to enter data into the system / there is no time to keep records ...” The company is not ready. And the owner does not insist.
As a result, as there was a mess, it remained.
4. The business owner has no time to deal with finances, there are always a lot of more important things to do than study reports and approve budgets. Redesign the site, hire the head of the sales department, increase the conversion. Launch a franchise. We need to develop the business. As before - "to the touch", intuitively. And make a profit "by feeling".
Why is this happening?
In my opinion, there are three reasons.
1. Lack of basic financial, economic education among business owners and managers, while finance is one of key functions in business along with strategy, marketing, personnel management, etc. This is neither good nor bad, it's just a fact. The consequence is a lack of understanding of what a financial management system is in a business, what risks its absence brings, what the numbers say and how to manage a business through indicators. Excessive costs. overall business inefficiency. Lack of control. Inability to hire the right financiers and work with them. In a winning position, those businesses in which one of the partners understands finances. They are inherently more systemic, manageable and scalable.
2. Financiers who are hired by the owners of small and medium-sized companies do not always understand what they want from them. They do not know how to manage finances due to low qualifications, lack of experience, and desire to deal with these issues. Basic Russian financial education(and I taught at several economic universities), unfortunately, does not instill a culture of thinking in the interests of business. Ask those who come to you for interviews: “What is the valuable end product of your activity? What do you give to the company? What are your performance criteria? What is the use of you as a financier? At best, you will be considered strange.
Financiers with necessary competencies and experience are expensive. As a rule, these are people with international qualification certificates and experience in large business (consulting or the real sector). Financial Director for 150,000–300,000 rubles. - an unaffordable luxury for a small business, whose entire monthly profit can be comparable to these figures. An employee who costs so much in the market is unlikely to go to work in small and medium-sized businesses.
3. Lack of managerial will, which is required when implementing changes. If the manager is not up to the numbers, then they will not be in the company. If he does not want to delve into and understand this topic at least basicly, even the best financiers will not help him. Just throwing money away.
What can be done?
You can do nothing. Work as you have worked, and accept that with this approach, you will not become a big business at best. No big company has a financial mess. Finances are under control, automated and managed. In the worst case, you are waiting for the financial crisis and bankruptcy. The faster the business develops, the larger the company becomes, the higher the price of a mistake, the more expensive the uncalculated “management decisions” are.
Or you can start to consciously understand your numbers, include this task in your personal development plan, put things in order in the finances of your business and implement it in corporate culture accounting, reporting and performance management.
* * *Course program
Module 1
Introductory module and bonuses.
Company finance (basics) - 15 mini-lessons in the record.
MS Excel in 4 hours - a mini-course in the recording.Module 2
Workshop "Financial Fact".
6 weeks, 13 lessons, 3 online meetings, exam.
The task of the workshop is to compile the management reporting of the company.Module 3
Workshop "Financial plan".
3 weeks, 6 lessons, 1 online meeting, exam.
The task of the workshop is to create a financial model and financial plan company/project.Module 4
Workshop "Financial analysis".
3 weeks, 7 lessons, 1 online meeting, exam.
The task of the workshop is to find opportunities for the growth of the company's profits, to identify financial risks.Module 5
Project protection.
The task of the workshop is to protect the real case on which the practice was performed.Who is leading?
Snezhana Manko
financier, Ph.D., FCCA methodologist and key expert of the schoolGraduate of the Financial University under the Government of the Russian Federation, practicing consultant in the field of financial and management reporting, business process automation (more than 12 years of practice in large, medium and small businesses. Including projects in companies: Russdragmet, United Aircraft Corporation, Rostec Corporation, Ruscomposite, Veles Capital, Medsi, Megaplan, Alpina Publisher, etc.).
Co-founder and methodologist of the FIN-SKILL.RU project - school of finance and financial managers. Candidate of Economic Sciences, holder of international qualification ACCA (Fellow member).
Lecturer and business coach on the topic of finance - more than 5 years (including in universities and training centers). In the past - Chief Editor magazine “Corporate financial reporting. International Standards”.
Oksana Komarova
Expert practitioner in taxation, management reporting, business process automation (small, medium and big business- more than 17 years of experience)
Yana Boyko
Leading business coach and practicing expert in financial management and analysis, budgeting, management accounting, IFRS
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