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Introduction
The considered adult education scenario will include a three-session program on the professional development of financial managers and the assessment of career growth prospects for the position of financial director (CFO). Each of the sessions will consist of two-hour classes with mentors and contain both theoretical and practical tasks to increase the members knowledge and skills to operate in new working conditions. The key topics to be covered will relate to the principle of budgeting in a dynamic financial environment, forecasting management results, and evaluating performance and motivating criteria for being productive as a CFO. Basic models and approaches to financial management will be explored due to real-world examples, and numerous aspects of market analytics will be discussed based on the experiences of the participants involved.
The objectives of the courses imply realizing specific educational tasks. They are as follows:
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conducting a series of lessons on the topic of increasing adult students knowledge in the field of financial management and budgeting;
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preparing program members for CFO positions;
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strengthening the planning and forecasting skills of the participants.
According to Lindquist and Rausch (2015), the target audience participating in such an educational program needs to understand the range of responsibilities and enhance marketability to acquire valuable attainments and performance. As a result, the learning mechanism involves complex activities that encompass teaching various practical and theoretical concepts in a short time frame, which, in turn, requires close interaction between mentors and adult learners. In addition, the analysis of the existing approaches to financial management needs to be considered, which is an essential perspective in terms of planning income and expense transactions and assessing cash flows within individual organizations.
To evaluate the success of the planned educational program, quantitative methods of analysis will be involved. In particular, this implies assessing the assimilation of the studied materials by comparing the participants results of the final test. Due to a small number of members (12 people), the training outcomes will be analyzed at the individual level, which, as Huber et al. (2020) state, allows adapting financial and economic training programs more efficiently. The program will take place in a rented office that can accommodate 20 people. The room has five desktop computers, a projector for displaying video presentations, and a graphics board.
As teaching materials, academic resources will be involved, specially prepared handouts, and a course of lectures. The seats are arranged in a semicircle so that everyone present could have visual contact with mentors. At the same time, in view of the current epidemiological situation, the program members will sit separately not to violate social distance, and the premises allow for this. The program is scheduled for the second half of February 2021; each of the three two-hour sessions will take place on Saturdays. The last session will end with a summary test, and its results will be sent to the participants by email. The target audience includes 12 representatives of different organizations who hold positions as financial analysts. Eight of them are males from 32 to 43, and 4 are women from 34 to 46.
Lesson Plan
Session 1. Hour 1
At the first session, the course facilitator will introduce the three mentors involved in the teaching process, familiarize the group with the learning objectives, and provide access to a chat room to exchange relevant materials. The basics of the course will be presented, and the ultimate goals will be determined based on the curriculum. The main learning topics will be covered, and the participants will have an opportunity to ask questions. The facilitator will familiarize the group with the program, offer to register on the required online platform, and explain the assessment system based on evaluating the knowledge gained by participating in the final test. After the end of the first hour, a 10-minute break will be offered.
Session 1. Hour 2
At the second hour, the mentor involved in the training process will invite the group members to enter into a discussion about the existing financial budgeting tools, thereby assessing the experience of the participants. At this stage, a strategy of using a variety of resources will be applied, including visual and audio files, which will enhance comprehension and contribute to assimilating educational materials ( Strategies for teaching adult learners, 2020). One potential problem with such a strategy is a large volume of new data, but the current experience of group members is an incentive for them to adapt more quickly to the programs pace. The views of each participant will be listened to, and conclusions will be drawn based on the discussion. The session will end with analyzing a practical problem that the participants will have to solve by dividing them into three groups of four people and the presentations of their solutions to other members.
Session 2. Hour 1
At the beginning of session two, the participants will review modern budgeting methods and models through the prism of technological tools and innovative approaches. The strategy of relating the members past experiences to the new materials will make it possible to substantiate conclusions about the updated algorithms of financial practices in companies ( Strategies for teaching adult learners, 2020). In addition, this strategy will provide an opportunity to apply the acquired skills in the future. One of the potential challenges is the participants distinctive experiences. However, due to the discussion practice, a large number of terms and concepts can be learned more quickly, and real-life examples will be applied as drivers. Budgeting models and ERP systems will be viewed through the prism of the CFO position. After the end of the first hour, a 10-minute break will be offered.
Session 2. Hour 2
During the second hour, the hands-on session will involve sharpening forecasting and planning skills based on the materials learned. After a half-hour assignment, the strategy of debate and the challenge of ideas will be applied by the mentor involved in this session. This strategy will allow group members to think critically and express evidence-based ideas ( Strategies for teaching adult learners, 2020). One of the possible difficulties is misunderstanding among the participants due to their distinctive professional backgrounds. Nevertheless, this problem can be eliminated by providing all members of the learning group with equal opportunities to express and justify their individual positions. Basic theoretical concepts on planning and forecasting financial results for CFO positions will be reviewed.
Session 3. Hour 1
The final session will begin with summarizing the materials studied and approaches to financial budgeting. As a strategy, the third mentor will use the method allowing the participants to practice what they have learned during the course program. This strategy is one of the tools for taking stock and honing skills ( Strategies for teaching adult learners, 2020). Individual participants may face challenges when remembering all of the materials. However, due to a team approach, all the key ideas and concepts will be repeated to reinforce the knowledge gained. After the end of the first hour, a 10-minute break will be offered.
Session 3. Hour 2
45 minutes of the last hour will be devoted to the control test. Upon completion, the participants will be able to discuss the proposed materials and ask all the desired questions. The facilitator invited to the last session will explain the procedure of assessing the tests and remind how further interaction with all the members will take place online. Each participant of the program will receive a personal certificate confirming the completion of the educational program for advanced training in the field of financial budgeting.
Evaluation Plan
To assess the adult education program delivered, three evaluation tools will be applied: teacher observation of learners, learner self-evaluation, and peer evaluation and professional growth strategy. According to Seaman and Fellenz (1989), all these three approaches can help summarize the main outcomes of the educational program from different perspectives. With regard to learning accomplished, the opinions of mentors and learners can help assess the effectiveness and relevance of educational materials in relation to the objectives of the program. For instance, the participants test results may be used for this purpose. Teaching effectiveness can be analyzed due to feedback obtained from the course participants and their views on the qualifications and professionalism of mentors in interaction with the adult audience. Finally, the aspect of content delivery can be assessed through the strategy of peer evaluation and professional growth delivery when the group members share views on the value of the program to their work environment. All these evaluation tools are significant components of the analysis of the proposed teaching plan.
References
Huber, L. R., Sloof, R., Van Praag, M., & Parker, S. C. (2020). Diverse cognitive skills and team performance: A field experiment based on an entrepreneurship education program. Journal of Economic Behavior & Organization, 177, 569-588.
Lindquist, T. M., & Rausch, A. (2015). So you want to be a CFO? A CPAs guide to the experience, skills, and education of fortune 500 CFOs. The CPA Journal, 85(12), 38-45.
Seaman, D. F., & Fellenz, R. A. (1989). Effective strategies for teaching adults. Prentice Hall.
Strategies for teaching adult learners. (2020). The Peak Performance Center. Web.
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