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Training and seminars

We conduct public seminars, corporate in-house training and term courses. Our programmes are conducted by highly qualified facilitators / trainers with requisite corporate/industry experience.

In-house training can be tailored to the needs and requirements of the company involved.

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Ongoing Zoom Online Masterclass Conducted By Michael Matthew Lee

From Accountant to CFO/Finance Leader to COO/CEO

You will notice that the 3 Masterclasses are designed to chart the career path of accountants and Finance Leaders, as follows:

1. TFMM – teaches the Accountant/Finance Leader to be competent in all Accounting & Finance topics that matter for career enhancement.

2. TFLB – teaches the Accountant/Finance Leader to be a competent CFO.

3. FLST- teaches the Accountant/Finance Leader who are aspiring to be COO/CEO or supporting his CEO’s strategic planning role. This is a skillset which is highly in demand!

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Consultancy

The scope of consultancy is wide-ranging, from resolution of a corporate issue/problem to special projects. Most consultancy work will require expertise from other professional disciplines and we shall work and coordinate with these professionals to achieve the objective(s) of the exercise.

Welcome To Our CFO

The CFO Desk Pte Ltd was incorporated on 18 March 2014 with the mission to help:

– Enhance the understanding and appreciation of Accounting and Finance in the public and professional sectors through training, seminars and coaching

– Companies resolve management issues and problems in Accounting and Finance

-Companies which require business valuation services

Our Courses

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Our 3 Key Masterclasses

You will notice that the 3 Masterclasses are designed to chart the career path of accountants and Finance Leaders, as follows:

  1. TFMM – teaches the Accountant/Finance Leader to be competent in all Accounting & Finance topics that matter for career enhancement.
  2. TFLB – teaches the Accountant/Finance Leader to be a competent CFO.
  3. FLST- teaches the Accountant/Finance Leader who are aspiring to be COO/CEO or supporting his CEO’s strategic planning role. This is a skillset which is highly in demand!
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The Finance Managers’ Masterclass Run 33 (Zoom)

The Finance Manager’s position is central to any Finance Department. His or her functions and responsibilities can be wide-ranging from providing and interpreting financial information, monitoring cashflows, performing investment appraisals, designing financial models for decision-making, managing risks, to liaising with auditors, bankers, lawyers and other professionals and keeping abreast with financial standards, regulations and legislation.

Admittedly, not all Finance Managers have exposure to some of these functions and so there are still knowledge and skill gaps to fill, urgently, because such knowledge and skills may be required at a moment’s notice.

This Masterclass is designed to fill these gaps and enable the Finance Manager to function confidently and even deliver performance beyond expectations. It is highly career-enhancing and career-promoting, especially with a WhatsApp community and free life-long mentorship after the end of Masterclass.

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The Finance Leaders’ Bootcamp (Run 10) (Online Zoom)

The Finance Leaders’ job is the most challenging and onerous in any company, especially in a public-listed one. Most Finance Leaders (Finance Directors, CFO, Finance Managers, Finance Supervisors and the like) are promoted from within the company, and the overriding difficulty is that incumbent does not have the full knowledge of the role and functions of the next level and how to execute them professionally. Admittedly, in SMEs, the finance manager may have to function like a CFO.

This Bootcamp is therefore designed to enhance these knowledge and skillsets and fill gaps, enabling the Finance Leader to function confidently and execute corporate finance activities professionally. It is a hugely experienced- based, as case studies are drawn/adapted from actual cases managed by the trainer over his more than 40 years of corporate experience as Group CFO and CXO of both large Main Board listed companies and non-listed companies.

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“From Finance Leader to Strategic Thinker” Run 5

There has been an urgent need for finance leaders to assist their CEOs in  corporate strategic planning  which requires a strategic thinking skillset. This skillset is in huge demand and is complimentary to the finance leaders’ professional accounting and finance skills. With this skillset, it paves the way for the finance leader to join the C-suite in later years! It is definitely a career-enhancing and career-promoting skillset.

This Masterclass emphasises the importance of cashflow sustainability and its implications to corporate growth. And successful corporate growth requires a good strategic thinking skillset. This Masterclass  teaches a structured approach to corporate planning for growth, with a framework and practical case study applications

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Financial Planning & Analysis – Moving from lagging to leading indicators

Traditional accounting & finance centres on the entity concept where the firm owns assets and owes equity & liabilities. This approach has its limitations as it does not open our minds to the acquisition and application of economic resources. I prefer to use the approach I called the ”Economic Resources Approach to Accounting” (ERAA), which encapsulates funding and operating resources, the cost of resources (capital), the flow of resources, the utilization of resources, leading to the capture of business values represented by discounted cash flows generated by operating resources. The ERAA approach will enhance the understanding of Financial Planning & Analysis (FPA) from the viewpoint of economic resources.

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Finance for Non-Finance Managers

This is a 2-day course packaged for operational and functional managers and senior managers who have only some knowledge of accounting and finance, but who need to understand finance to be able to perform their jobs better and/or to interface with Finance department staff. It is also designed for professionals who need a good working knowledge of Finance to apply in their job.

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Cashflow Statement Analysis – Unlocking cashflows for corporate growth.

This course is different from any other as it firstly, covers primarily how to interpret the key components of the Cashflow Statement and a profound analysis of each, applying a 7-step procedure, leading to unlocking cashflows for corporate growth.

Secondly, it teaches how to decipher past trends in cashflows, applying a 5-step procedure, leading to an enlightened appreciation of how a growing and sustainable cashflow can be managed.

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Financial Modelling for Business Decisions

This 2-day course teaches the participant how to design a financial model using simple Excel functions and how to determine the variables that are required for analysis.

Satisfied Client Stories

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I first attended “The Finance Managers Masterclass (TFMM)” conducted by Michael and found it very beneficial. Later I also attended “The Finance Leaders’ Bootcamp (TFLB)”.The knowledge that I obtained from the Masterclasses are  very relevant to my role as a finance personnel.  I like the way Michael is able to think out of the box and approach certain accounting concepts in a non-traditional way.  e.g.  on Cashflow Sustainability, we would traditionally focus on the lagging indicators which are based on historical transactions and events.  But Michael introduced concepts to also look at leading indicators which are forward-looking and project the future.  Michael is also very generous in sharing the practical experiences that he had over his more than 40 years of experiences as corporate leaders.  Those sharing were valuable insights which not all courses or books offer.  In addition, Michael is also a good mentor and provides valuable advice on finance trends & career planning.

Veron Lee
FCCA, CA (Singapore)
Regional Financial Controller
Jardine Shipping Services

Veron Lee

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The Finance Leaders’ Bootcamp Run 8

A must-go-to course for finance personnel who aspire to be part of the C-suite!  Michael has skilfully  broken down complex subjects into bit sized topics which are easy to grasp and implement.  To help the class gained a better understanding of the key concepts for each subject, real life corporate case studies were used as a reference for discussion.  The knowledge and sharing of experience in this Bootcamp cannot be easily found in textbooks.  His “after-class” mentorship is a valuable asset for his students!

Warda Marwi
AVP, Finance
Trusted Services Pte Ltd 

Warda Marwi

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My main goal before attending “The Finance Leaders’ Bootcamp” Masterclass was to get guidance and learn from an experienced CFO. The ability to share such experience in an easily understandable manner is a trademark of Michael’s teaching.

I have benefited immensely from this Masterclass. Looking back, I took a correct huge step, which is beyond my expectations.

Michael’s  wisdom and knowledge, which he shared with the class is invaluable and is being applied on the job.

Annelly Tan X. R.
FCCA (UK), Fellow CA (Singapore)
Business Manager
Soviiny Pte Ltd

Annelly Tan

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I attended the Finance Leaders Bootcamp master class during 2021 that covered a wide spectrum of key topics divided into 8 modules. What made the course different to many I have attended in the past is that Michael introduced the participant with the foundation knowledge and then applied practical experience in real life scenarios to give a better understanding on how knowledge can be used to achieve a practical goal of an organisation by taking into account factors such as internal and external limitations and presenting this to the key stakeholders so that the best decision can be made.

Michael as a mentor is very good at explaining complex matters into a more simplistic manner. I am applying my newly enhance knowledge to my daily tasks and objectives and would like to personally thank Michael for all the help and support he has given.

Imran Razak,
MAAT, FCCA
Finance Director
Carey England Limited (United Kingdom)

Imran Razak

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The Finance Managers’ Masterclass helps to unveil another aspect of a finance manager’s role. Often, we are too bogged down with the day-to-day activities that the big picture goes unnoticed. This Masterclass will help to piece the puzzle together for an aspiring-to-be or an incumbent finance manager. Michael’s delivery on each topic is lively and engaging, often, sharing with us his past work experience when emphasising on the key learning points. This Masterclass is highly recommended.

Warda Maruri,
Finance Manager
Fragrance Realty Pte Ltd

Warda Maruri

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I ran into Michael’s Masterclass from Hong Kong at the time of COVID-19 outbreak whereby online learning became a viable option.

The course content covers a wide range of Finance topics and Michael has his own way of interpretation that I learnt to think through from different angles and viewpoints.

Michael is a recommendable trainer teacher with great passion to share his insights and work experience to his students. He has all-round knowledge and corporate experience about Finance and Business.

The Masterclass is an opportunity for me to refresh myself on the Accounting & Finance knowledge and skillsets. Furthermore, it is a great value added to my work in terms of some areas which I never come across, which are beyond textbooks.

Michael is an absolute gem as my life-long mentor. He provided me instant feedback whenever I WhatsApp him and seek for his professional advice.

I have no hesitation to recommend his Masterclass to anyone who is looking for refreshment on the Accounting & Finance knowledge & skillsets and at the same time want to explore something new to bridge the experience gaps in the Finance area.

Vincee Chow
Finance Controller
Campbell Foods HK Limited
Hongkong

Vincee Chow

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Michael is a master of mentors. Lessons were well thought through where his efforts in synthesizing complex concepts were clearly felt. Personally, I enjoyed his unreserved sharing of his perspective as CFO. Michael’s lessons are insightful, and they have benefited me tremendously!

Sonia Ng Pei Fang
Finance Analyst
Dnata Singapore

Sonia Ng

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Michael is a  finance veteran who is very passionate in training and mentorship through sharing his experiences and knowledge.

Ng Yee Lee
Regional Financial Controller
Marvell Asia Pte Ltd

Ng Yee Lee

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I found TFMM content comprehensive and quite wide ranging. It is a very good refresher of what I had learnt years ago in university, but now with a practical slant, and with fresh insights after working for some 20 years.

 

With his 4 decades of senior corporate experience and exposures, Michael is willing to unstintingly share them with his Masterclass participants.

It  is really good to be able to ask things that are beyond the academics, for example how to handle inter-personal challenges at work. As an approachable mentor, Michael took the time to share some insights and provided useful advice. At this more senior level, it is not just about the getting the job done (that is taken as a given), but it is much more about managing stakeholders like colleagues, bosses, and the Board.

Natalie Lai
Group Financial Controller
Certis Group

Natalie Lai

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Michael shares his wealth of experience and expertise in topics critical to an Accountant’s learning journey. One of the topics that is most beneficial to me is financial modelling. He also gives notes and excel files to help us understand the practical side of the topics. Michael conducts his classes in an interesting and relaxed manner, which makes learning easier and fun. I strongly recommend Accountants and Finance Managers to attend this Finance Managers’ Masterclass!

Mike Seah
Account Director
Ethos Accounting LLP

Mike Seah

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I attended The Finance Managers’ Masterclass conducted by Michael in July 2019. He shared many real life case studies and scenarios which helped relate the topics he covered more in depth.

With his numerous years of experience and breadth in industry, there were many examples he shared that I could relate with. The concepts which I found complex such as group consolidation and financial reporting were explained clearly, with fianncial jargon easily understood.

Michael has been very patient with the questions the class posed and eagerly deconstructed some of the tougher questions to demonstrate how finance principles work. Michael has taken time outside class to attend to our finance questions/problems as a mentor/advisor.  You can count on him as he is very friendly and  approachable.

I would recommend his Masterclass to both beginners (non-finance professionals) and those with some years in accounting and finance function who want to learn more for career enhancement

Elvin Liang
1st Protective Coatings Segment Manager
PPG
Specialist in Oil & Gas, Energy, Chemicals, Infrastructure & Utilities.

Elvin Liang

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Michael is truly passionate and eager to share his corporate experience with us in The Finance Manager’s Masterclass (TFMM). With his exposure of over 40 years in Singapore public-listed groups, he showed us through the lens of a Group CFO on how to use the knowledge and skills that we have learnt in the past, combined with his own self-developed concepts and principles to scrutinize the financial status of a company holistically.

Academically, we learnt different topics, models and indicators to analysis the financial status from different thought and school, however, with Michael’s guidance, he bridged these knowledge like putting bits and pieces of puzzle and guided us to see the financial status of a company as a whole picture.

I have learnt a lot from Michael’s eye-opening class and am grateful that the Masterclass has changed from physical classroom to virtual classroom via Zoom that allows us to attend the class no matter in which country we are based. Michael continues to show his support and continuing mentorship even after our class has ended.

Thank you, Michael, wishing you success in launching your new book and may your book be the top best seller globally.

Crystal Wong
Accountant
MTP Consultancy Services
Brunei Darussalam

Crystal Wong

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Being part of the professional in Accounting and Finance, continuous learning is crucial to be sustainable in the practice. As such, the Finance Managers Masterclass is a very good short course to brainstorm all the topics learnt especially, the importance of analyzing key financial ratios of an entity for better control and as risk indicators. Michael is a very experienced and knowledgeable trainer with lots of practice experiences. It’s great for his generosity to share his past experiences that are very useful in our work. I found that the topics “Financial Limits to Growth” and “Investment Appraisal” extremely useful. Personally, I really enjoyed the course and certainly learned a great deal. It is definitely a recommended Masterclass to anyone who is in this profession.

Celest Tan, Regional Controller
Essilor Amera Pte Ltd

Celest Tan

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Michael has come across to be one passionate and enthusiastic in teaching. Before the mandatory work from home measures implemented by the government, he would check with all his students to ensure that they know how to use the video software and preparing additional notes so as to make the online lessons easier to follow. He is also able to share his many years of work experience with us during the class and online to make it more interesting and relevant.

Ng Nyuk Khuen
CSO Manager
New Creation Church

Ng Nyuk Khuen

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Michael is an excellent trainer who is skilful at making complex and dense topics in accounting & finance lively and interesting, drawing out application to real world business needs. He also has the insights and responsibility to acquaint student with using teleconference tool ZOOM, way before the escalation of COVID19 spread to ensure that in trying times student continue to be able to learn without disruption.
With the “circuit breaker” enforced, the home learning experience via ZOOM was great, with good rapport and Michael’s patience and effort to continuously check on participants to ensure topics are well understood.
I thoroughly enjoy Michael’s lessons and learnt a lot, whether in person or remotely.

Chong Pang Yan
Regional Finance Leader (APAC)
MoneyGram International Inc
TFMM Run 13

Chong Pang Yan

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I find Michael’s class very practical and interesting. He always shares his personal experience when discussing the topics. This makes the dry topics come to life and I feel it makes it easier to comprehend. Some topics covered are useful in my current role and as for the rest, they will definitely come in handy in the future. Michael shares so much knowledge and insights, so much so I feel it would be a loss if someone gives this Masterclass a miss. I would recommend this Masterclass for all finance professionals with aspirations.
– Finance Controller, Turck Banner Singapore Pte Ltd

Raspal Singh

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Michael is a master of mentors. Lessons were well thought through where his efforts in synthesizing complex concepts were clearly felt. Personally, I enjoyed his unreserved sharing of his perspective as CFO. Michael’s lessons are insightful, and they have benefited me tremendously!
– Finance Analyst, Dnata Singapore

Sonia Ng

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Being part of the professional in Accounting and Finance, continuous learning is crucial to be sustainable in the practice. As such, the Finance Managers Masterclass is a very good short course to brainstorm all the topics learnt especially, the importance of analyzing key financial ratios of an entity for better control and as risk indicators. Michael is a very experienced and knowledgeable trainer with lots of practice experiences. It’s great for his generosity to share his past experiences that are very useful in our work. I found that the topics “Financial Limits to Growth” and “Investment Appraisal” extremely useful. Personally, I really enjoyed the course and certainly learned a great deal. It is definitely a recommended Masterclass to anyone who is in this profession.
– Regional Controller, Essilor Amera Pte Ltd

Celest Tan

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The Finance Managers’ Masterclass helps to unveil another aspect of a finance manager’s role. Often, we are too bogged down with the day-to-day activities that the big picture goes unnoticed. This Masterclass will help to piece the puzzle together for an aspiring-to-be or an incumbent finance manager. Michael’s delivery on each topic is lively and engaging, often, sharing with us his past work experience when emphasising on the key learning points. This Masterclass is highly recommended.
Finance Manager, Fragrance Realty Pte Ltd

Warda Maruri

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The Finance Managers’ Masterclass consists of a very well-thought out and comprehensive curriculum that covers a wide spectrum of accounting and finance related topics from a practical perspective. It was delivered in an interesting manner by an experienced facilitator who was able to give insightful examples and making sometimes complex concepts easy to understand and remember. I particularly like the way how the conceptual framework of accounting was delivered as well as the cash flow analysis module which provided new perspectives on how to interpret financial statements. I would recommend this to both finance managers seeking to deepen their skills sets as well as non-finance business owners or professionals who need to have a good grasp of finance.
– CEO, Singapore Productivity Centre Pte Ltd

Michael Tan

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Michael shares his wealth of experience and expertise in topics critical to an Accountant’s learning journey. One of the topics that is most beneficial to me is financial modelling. He also gives notes and excel files to help us understand the practical side of the topics. Michael conducts his classes in an interesting and relaxed manner, which makes learning easier and fun. I strongly recommend Accountants and Finance Managers to attend this Finance Managers’ Masterclass!
Account Director, Ethos Accounting LLP

Mike Seah

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Michael is a very experienced and knowledgeable trainer with a breadth of practical experience. In particular, I have found the “Financial limits to Growth” module extremely useful. He has also made lessons very interesting in an otherwise normally dry topic (i.e. accounting) and I would strongly recommend the course to candidates involved in the areas of credit risk management or corporate banking as the reinforcement of accounting and finance concepts is very useful.
Conglomerates & Asian Corporate Institutional Banking Group, DBS Group

JJ Poh

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Michael’s classes/sessions are intense and candid. His teaching method allows me to easily understand the fundamentals of accounting and finance. Michael’s meticulous crafting of the content materials and delivery of the sessions is a testament of his dedication to adding value to the accounting & finance professionals. He inspires us to work hard and be a lifelong learner. The lessons learnt are applicable in our work life.
If you are looking to move to the next level of your career, Michael is a great teacher to have. If you follow his lead you can do great things to impress your bosses, but you must be willing to jump in head first. He is always there as a mentor to advise and guide.
I would recommend to anyone serious about upgrading or refreshing their accounting and finance knowledge and skills by enrolling in his Masterclasses.
Thank you for the experience sharing.
Finance Manager, Varcass Pte Ltd

Lee Mei Lin

Our Articles

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Stock options trading & investment : The Greeks.

17 Nov, by Michael M Lee

Embarking on option trading and investment is not an easy endeavour. It requires knowledge of how option pricing works, how option prices behave, and the parameters which affect option prices, chief of which are the Greeks. Without the use of the Greeks to guide risk management, the trader or investor may not know what to do when option prices collapse or do not move in the direction as expected.

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Stock options trading & investment – An introduction

05 Dec, by Michael M Lee

In Rich Dad advisor Andy Tanner’s book “Stock Market Cashflow” on page 220 “How Warren Buffet generates huge profits with options”, Andy wrote, “Buffet sells a lot of options. Why? Because he understands how time decay works to the benefit of the option seller. Options provide him with a great tool to generate additional income for his holding company.” Thus, options can be used to generate additional income. It can also be used for hedging and speculation.

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Corporate Cashflow Sustainability – The Foundation for Corporate Growth

24 Sep, by Michael M Lee

Current accounting & finance theory and practice emphasise only on cashflow projections to determine the cashflow health of the company. This is inadequate as it is short-term in nature and by design. We need an assurance how cashflows will behave beyond the projection period ie the company’s Cashflow Sustainability. We are not able to ascertain Cashflow Sustainability because we currently do not have the tools to enable it. We are in a paradigm which is based on the entity concept and financial analysis is based largely on financial ratios which uncover what have gone wrong. They are lagging (historical) indicators! To enable Cashflow Sustainability we need a paradigm shift. We need a) To understand the flow of economic resources through the company and over long periods of time. b) To create new tools which forewarn what could go wrong. These are leading (predictive) indicators. c) To build a Cashflow Sustainability Framework and monitor it, and d) To assess the presence of Cashflow Sustainability periodically.

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Business Valuation – Income Approach

07 May, by Michael M Lee

The Income Approach is by far the most rigorous. But there are computation/technical difficulties in this approach which this article addresses. These are: a)    What is the key concept in the income approach? b)    What is the method of computation of business value using income approach? c)    Understanding the 2-part cashflows (5-year explicit forecast period and terminal value period) to be applied in the approach. d)    Determination of the discount rate or adjusted WACC e)    The perpetuity factor and the Gordon Model f)     Understanding Enterprise Value derived from the Income Approach g)    Deriving Equity Value (EqV) from Enterprise Value (EV) h)    Sensitivity Analysis/Financial Modelling to arrive at an appropriate range of values. i)     Counter-check range of values using the multiple-based or other approaches and reconcile the differences. It must be recognised that as Business Valuation is more an art than a  science, no two valuations based on the same approach can produce the same outcomes. But the 2 ranges of values can be reconciled based on assumptions applied, the risk assessment of the valuation, the availability of the information provided by client or extracted from public sources, the defensibility of the figures, and how each valuer exercises his/her judgement  and effort in maximising the range of value defensibly for the client.

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Business Valuation – A primer

20 Apr, by Michael M Lee

Business Valuation is a relatively new profession and is an area where certain accounting standards and principles may not readily apply. As it is more art than science, it is incumbent on the valuer to apply his/her expertise, experience, knowledge, and competence to determine, defend and maximise the value of subject matter assigned.

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The Essence of Corporate Cashflow Sustainability

26 Jan, by Michael M Lee

"The Essence of Corporate Cashflow Sustainability' is my first Finance book published in early June 2022 for both local and international readership. It is not an academic treatise but one written based on my decades of corporate experience both at the Finance and Operations senior executive levels. This book explains how you can develop, build, monitor and assess Cashflow Sustainability (in a Framework) for your company to support ongoing corporate growth. It is both enlightening and career-enhancing as the knowledge and skillsets to be acquired from this book are not available in current Finance textbooks/literature; much less from practice. The synopsis, outline and preface of the book as well as the book testimonials can be found in the main text. Please do not hesitate to contact me at michael@cfodesk.com.sg if you need further information.

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The Economic Resources Approach to Accounting (ERAA)

05 Feb, by Michael M Lee

Traditional accounting embraces the entity concept, which is good for explaining debits & credits, and what the entity owns and owes. But as businesses evolve, sustainability of cash and cashflows becomes vital, while the emphasis on entity and its going concern assumption remains important. Without cash and cashflows there is no entity, let alone going concern! Most companies painfully experience this situation during the current world-wide pandemic! Cash is the most vital economic resource for an entity‘s survival and so my proposed new concept and approach is called “The Economic Resources Approach to Accounting” (ERAA), shifting the focus from Entity to Economic Resources. The business owner, the Board and Management’s main interest is on how the economic resources of the company are acquired, allocated/deployed, profitably utilised, and redeployed. The current set of financial statements do not reflect this economic cycle clearly. For centuries, Accounting has been entrapped by the Entity focus, losing sight of the greater importance of Economic Resources. My article on ERAA (as attached) highlights this issue and proposes solutions. Professional awakening, recognition, and full awareness of this issue are necessary for a focussed action towards ERAA, internationally. Otherwise, business managers remain at best, inadequately enlightened, or at worst, consistently unenlightened in still fully embracing the Entity Approach to Accounting!

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Cashflow Statement – Period & Trend Analysis

29 Jun, by Michael M Lee

Cashflow Statement – Period & Trend Analysis This is follow-on paper of my earlier paper dtd 26 April 2020 on “Cashflow Statement (CFS) – An enhanced presentation”. In this paper, which is geared towards the business leaders’ perspective, I shall discuss 1) Why a company’s sustainability of cashflow is important 2) The current CFS presentation allowing for different treatment of certain items 3) The traditional way of analysing Period CFS, and a proposal for a robust approach 4) Trend CFS analysis, leading to the determination of the company’s cashflow sustainability, and how the finance leader needs to be involved in strategic thinking process to assess whether investment activities are appropriate for maintenance or corporate growth per strategic plan. The business community needs to know that cashflow sustainability of a company is a necessary but not sufficient condition for the company’s overall financial health. The company also needs to grow its operating resources to further validate its going concern assumption.

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Cashflow Statement – An Enhanced Presentation

26 Apr, by Michael M Lee

The Cashflow Statement is the most important period statement as it depicts the cashflow health of the company. In its current presentation format, it may not be as useful as it should be, especially for non-accounting trained users who may be Board directors, Senior Management, shareholders or investors. These business readers/users are interested to know:. a) Why P&L Profit after tax (PAT)is not all cash?, b) What is the fully cash PAT?, c) What cause an adverse Cashflow Gap between P&L PAT and fully cash PAT and how can it be fixed?, d) Is the company’s going concern assumption threatened as a consequence of a huge negative Cashflow Gap? Unfortunately, the current presentation format does not highlight these areas simply because the focus is not on the PAT Cashflow Gap!

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Financial Statement Analysis – The VISA Approach (Using both leading and lagging indicators) (Final Part 5)

31 Jan, by Michael M Lee

Central to the V.I.S.A. Approach is the appreciation of the economic flows of transactions through the accounting system as depicted in the ERAA diagram. Then the key factors (V.I.S.A. components) in each of the financial statements, which pose potential risks to the financial health of the company must be recognised. Reviewing and analysing these key factors using both lagging and leading indicators on a regular basis (quarterly) and taking the appropriate actions to mitigate or forestall the risks will save the company from unintended corporate failure.

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Financial Statement Analysis – What is V.I.S.A.? (Part 4)

31 Jan, by Michael M Lee

In this penultimate part of my 5-part series on Financial Statement Analysis (moving from lagging to leading indicators), I shall discuss the areas in the financial statements (Balance Sheet, P&L Statement, and Cashflow Statement) in which accountants/CFOs and CEOs are seriously concerned about, agonising over the sustainability of the firm’s operational and financial performance. This is more so when the firm’s business or the economy heads south.

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Financial Statement Analysis – Is there an optimal capital structure? (Part 3)

31 Jan, by Michael M Lee

This is the 3rd accounting & finance article of my 5-Part Financial Statement Analysis (FSA) series. In this article, I shall discuss capital structure; its importance and implications to financial management and operational success. Much of the discussion will be centered on the practical aspects rather than its theoretical underpinnings (ie setting aside Modigliani & Miller Theorem and Robert Hamada’s Equation).

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Financial Statement Analysis – Using leading indicators (Part 2)

31 Jan, by Michael M Lee

This is the second of my 5-article series on the inadequacy of traditional financial statement analysis (FSA) in predicting, preventing and protecting business and financial risks of a company. The following 2 leading indicators are useful in managing such risks.

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Financial Statement Analysis – Using lagging indicators (Part 1)

01 Jan, by Michael M Lee

his article is the first of 5 parts which examine why traditional financial statement analysis (FSA) using ratios are lagging in the prediction, monitoring and control of the financial health of a company. It ends with how a systematic and integrated approach applying both lagging and leading indicators could proactively satisfy those objectives.

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Financial Statement Analysis – Moving from lagging to leading indicators

15 Nov, by Michael M Lee

Every accountant is expected to know how to perform a Financial Statement Analysis, which is key to understanding the financial health of any company. However, traditional financial statement analysis uses financial ratios which are based on historical (after-the fact) data. They produce an analysis which, at best, are lagging indicators of the financial health of a company.

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“Debit and Credit” – Upon this Rock, the House of Accountancy was built!

14 Nov, by Michael M Lee

While debits and credits appear basic and simple to the accountant, their explanation and determination are not. This paper provides the explanation and guidelines in treating the 2 legs of a transaction as debit or credit. I hope it now makes good sense in rationalizing what appears to be “mysterious” to non-accountants and accountants alike.

Our Blog

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Update on my 2nd book – “Testimonies & Reviews”

07 Oct, by Michael M Lee

Overall, the testimonies point to a new direction in corporate growth using a purpose-designed Corporate Planning Framework, as devised by Michael. In his earlier book “The Essence of Corporate Cashflow Sustainability”, he designed a Cashflow Sustainability Framework to underpin corporate planning. Both frameworks are easy to fathom and apply, enabling corporate expansion and growth in perpetuity. C-suite executives and senior management personnel who are empowered to shape the destinies of the enterprises under their charge are advised to read these 2 enlightening and thought-provoking books.

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Preface of my 2nd book “Corporate Growth & Cashflow Sustainability”

26 Sep, by Michael M Lee

"Corporate Growth & Cashflow Sustainability" builds on my first book "The Essence of Corporate cashflow Sustainability", launched in June 2022. This 2nd book is scheduled to be launched in early 2024. It defines what corporate growth means and how it is best measured. The issues and challenges of corporate growth are identified and discussed, and a Framework for Corporate Planning for C-suite executives is devised for easy implementation. Underlying this Framework is the requirement for Cashflow Sustainability as its main pillar of support.

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My 2nd Book : Corporate Growth & Cashflow Sustainability – CONTENTS

23 Aug, by Michael M Lee

This 2nd book "Corporate Growth & Cashflow Sustainability" builds on my first book "The Essence of Cashflow Sustainability" and discusses an approach to Corporate Strategic Planning for growth on a strong pillar of Cashflow Sustainability. It is a handbook for C-suite executives who are keen to have a comprehensive knowledge of how to grow sales, earnings and total assets, from a practitioner's standpoint. The contents cover, in some detail, a flow of important finance and operations topics that are highly enlightening for the corporate growth journey.

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2nd Book by Michael Matthew Lee “Corporate Growth & Cashflow Sustainability”

17 Jul, by Michael M Lee

The discussions in this 2nd book provide a new perspective of how corporate growth should be conducted by C-Suite Executives. Undoubtedly, cashflow sustainability must be its foundation. But a well-designed Framework for Corporate Planning must be the necessary guide for the C-Suite Executives to achieve greater success in the corporate growth journey ahead!

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Update on my 2nd book “Corporate Growth & Cashflow Sustainability”

12 Jul, by Michael M Lee

Hi Friends, Re: Corporate Growth & Cashflow Sustainability My second book “Corporate Growth and Cashflow Sustainability” is supposed to be published about this time. Due to my other commitments, it will have to be delayed to early 2024. This book is an enlightening handbook for C-Suite executives, as I am also providing C-Suite coaching services. A draft Preface of the book has been written and I am sharing it with you here.

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M&A – Quantification of synergies

12 May, by Michael M Lee

One key objective of M&A is to find and extract synergies from the target company to enhance the bidder's company/group's shareholder value. this provides a pathway for effective negotiations. Without a quantification of expected synergies, the bidder will not know when to walk away from negotiations, with no regrets at all!

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Extent of M&A deals and funding requirements to achieve corporate objectives.

07 May, by Michael M Lee

A company's growth and development depend very much on non-organic growth, typically Mergers and Acquisitions (M&A). But most of the time, Management do not know how many M&A targets to acquire and how much funding is needed to achieve corporate objectives. This is a huge problem and may be the main cause for the company's operational and financial failure! Over the years, as Group CFO of several main board public-listed companies, I have been studying this problem and finally devised a simple Financial Model to resolve it (ie. the extent of M&A deals and the funding required). Now, you can have the benefit of my sharing!

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Proportion of debt and equity in M&A funding

07 May, by Michael M Lee

The proportion of debt and equity in M&A funding is always a challenge. It affects Earnings per share (EPS), financial risks, and Weighted Average Cost of Capital (WACC) immediately and over the longer term. Normally, management would simply apply debt and/or cash to fund the acquisition., without much thought. But without proper analysis, it could adversely impact the company in the future. This is not a topic that could be easily understood or fathom.

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Corporate Sales Budgeting Template (Free for use)

27 Apr, by Michael M Lee

Admittedly, every finance leader encounters challenges in preparing sales budgets, for management or the Board, and this template "comes to the rescue" !

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Corporate Sales Budgeting using LRM

26 Apr, by Michael M Lee

Corporate sales budgeting has always been a challenge. While we try very hard to defend projected sales figures one year or 3 years forward, the realistic assumptions needed to support those numbers somehow become inadequate over time. In the first place, even the sales trend or sales pattern cannot be easily extrapolated. This is where the statistical method of Linear Regression Model (LRM) comes in.

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Four new courses uploaded on e-learning platform

22 Apr, by Michael M Lee

These 4 new courses cover important topics for accountants (and finance leaders) to be completely competent in. Learning gaps (knowingly or unknowingly) in each of these topics will be filled and knowledge of the concepts, principles and mechanics will be enhanced. They are also useful for non-finance professionals who need to know accounting & finance adequately. Dive into these courses now to further enhance your career!

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Monthly Cashflow Projection : AR / AP build-up

01 Apr, by Michael M Lee

The Monthly Cashflow Projection template is built up from analysis of AR collections and AP payments based on %age estimates of collections and payments, derived from past experience.

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WACC template

31 Mar, by Michael M Lee

The Capital Structure is a critical funding engine in any company and its weighted average cost (WACC) must be determined regularly. WACC is also the hurdle rate which qualifies acceptance of new investments/projects based on their ROI (IRR). Capital Structure changes with new retained earnings, new share issues, and increases/decreases in borrowings, which lead to changes in WACC and hurdle rate.

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Accounting & Finance (A&F) Templates

27 Mar, by Michael M Lee

A&F templates are useful productivity tools that can enhance one's job performance. But tools cannot be properly used/applied if the concepts and principles involved are not well understand. So first seek to understand the concepts and principles by attending relevant Masterclasses found on "Courses" page.

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The CFO Desk E-learning platform

20 Mar, by Michael M Lee

We have launched the CFO Desk e-learning platform, which can be accessed at cfodesk.trainercentralsite.com. This platform offers e-learning and Zoom-weblink Masterclasses for both accountants and non-finance professionals.

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