| August 14, 2023 | 8:30-4:30 PM EDT | | CFO Series: Planning for the Long TermFocus on the skills that will help you and your organization enhance your planning skills, improve innovation and optimize decision making. HighlightsStrategy and Implementation, Foundations for Success
This seminar will focus on developing an effective strategy and more importantly on effectively implementing the strategy so that everyone in the organization, from top to bottom, is aligned and working towards its overall success.
- Effective strategies to compete in today’s world: cost leadership, differentiation,
finding niches
- Effective market segmentation
- Market positioning and targeting
- Aligning the organization
- Managing risk
Best Practices EVA/RCE: Metrics to Gauge Real Performance
How much profit is enough? Answering this question requires an understanding of the true risk involved and what the market requires of investments of similar risk. Learn why GAAP accounting measures can lead you astray when trying to evaluate the true economic performance of an enterprise. The measurement of economic costs and revenues requires the inclusion of opportunity costs that GAAP does not measure. The seminar looks at how this required return is established and provides hands-on guidance on two state-of-the-art techniques for measuring true economic profit.
- Why EPS, ROS, ROA, and ROCE fail
- Going beyond the weighted average cost of capital (WACC) to its fundamental principles.
- The importance of asset utilization
- Economic value added as a performance measure
- Latest developments in EVA; EVA margin, EVA Momentum and Residual Cash Earnings
Innovation for Continued Success: Sustaining the Organization
Disruptive innovation has ended many businesses and led others to take their place. Learn why previously successful companies failed to innovate.
- Consequences of failing to innovate
- What do innovative companies have in common?
- Four types of innovation
- Clayton Christensen’s view of innovation
- How does accounting impact innovation?
- Strategies for successful innovation
- Structuring an organization to create and benefit from innovation
Accounting for Lean and Agile: Staying in Step with Lean Operations
The plodding accounting conventions of yesterday can inhibit the quickly adapting operations of today. As business processes become faster, scheduling, inventory management, and data collection must change to reflect your organization’s new reality.
- How ‘lean’ is different from traditional practices
- Practical application of lean concepts in an accounting department
- How to see accounting output from the users’ perspective
- Insights into making your department more efficient
- Creating a culture of continuous improvement
Benefits- Go beyond the abstract discussion of strategy and focus on identifying attackable market segments and aligning the organization for success.
- Understand the weaknesses of GAAP as a financial performance measure and propose alternative approaches.
- Understand why innovation is vital to long term success and understand your key role in creating an innovative organization.
- Determine the needs of those who use financial reports and focus on better metrics that your users can understand and use to make informed business decisions.
Designed ForFinancial leaders, regardless of title, who are, or aspire to be, chief financial officers. Discussions are targeted to people in midsize organizations.
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| September 22, 2023 | 8:30-4:30 PM EDT | | CFO Series: Corporate Performance ManagementLearn how corporate performance management (CPM) can seamlessly integrate many techniques including strategy maps, a balanced scorecard, and the alignment of KPI’s to identify and track your organization’s critical success factors. Highlights Corporate performance management.
- Poor strategy execution frustrates many executives as their organizations struggle with performance improvement, making decisions using intuition in the absence of hard data. Corporate performance management (CPM) seamlessly integrates many techniques including strategy maps and a balanced scorecard. Together they align manager and employee behavior, actions and priorities using key performance indicators (KPIs) with specific targets to enable accountability.
Effective management accounting.
- Critics have claimed that traditional managerial accounting is at best useless and at worst dysfunctional and misleading. Most line managers do not trust their management accounting data. Learn how 21st century management accounting develops cost/unit metrics that are useful for budgeting, cost analysis and control. Current methods bring truly accurate fact-based costing visibility, tracing costs and identifying cause-and-effect relationships rather than broadly allocating overhead. This information provides the ability to reveal the true profit margins for products as well as for specific sales channels and customers.
Removing the barriers caused by your current management accounting techniques can provide huge rewards.
Driver-based budgeting
- The annual budgeting process is often criticized as a fiscal exercise done by the accountants that is obsolete soon after it is published, is prone to gamesmanship, is cumbersome, isn't volume sensitive and is disconnected from the strategy. You can resolve these deficiencies using capacity-sensitive driver-based expense projections. Driver-based budgeting allows for quick scenario planning and far easier analysis of a growing organization whose future may look nothing like today. Learn how the budget can be periodically refreshed to create rolling financial forecasts extending beyond the fiscal year end.
Business intelligence and data analytics
- Volatility and complexity are the new normal. Most organizations are drowning in data but starving for information. Learn how the finance and accounting function can leverage big data and the continuum of analytics – descriptive, diagnostic, predictive, and prescriptive all for better decision making. Collecting, validating, and reporting data is not the same thing as analyzing informationt to glean valuable, actionable insights. In some ways the finance function is many years behind other disciplines in applying analytics. How can the CFO function catch up?
Benefits- Learn how to identify and track your organization’s critical success factors.
- Discover how to convert “too much data” into useful information.
- Explore ways to use metrics to create flexible budgets and rolling forecasts.
- Find out why “What causes cost?” is the most important question in management accounting.
- Understand how business intelligence (BI) and business analytics (BA) can help you make sense of your organization's data.
- Learn how managerial accounting can become managerial economics.
Designed ForFinancial professionals who are, or aspire to be, chief financial officers. The discussions are targeted at those in midsize organizations. View Full Event Details |
| October 27, 2023 | 8:30-4:30 PM EDT | | CFO Series: Skills for 2023 and BeyondGain the skills that will help you and your organization become more effective. Learn how to select the appropriate metrics, discover the hidden value of ‘mistakes’ and understand why and how diversity is a reality in today’s organizations. HighlightsDEI Done Right: Lessons from Change Agents
Why is DEI so important for businesses? What are the economic benefits of DEI activities? What are the ethical considerations for DEI? What can business executives do to encourage diversity? What can executives do to ensure inclusion of diverse employees, shareholders, customers, and other stakeholders?
- Business case for DEI activities
- Ethical considerations of DEI
- Economic benefits of DEI
- Definition and clarification of diversity, equity, and inclusion
- Examples of effective DEI initiatives
Accomplishments Follow Failures: Success Through Experimentation
Every success is the result of numerous experiments that failed. Every scientific advance was preceded by failures. To be direct, failures lead to success. Every failure is temporary and is merely an opportunity to improve. Successful organizations continuously experiment so they can learn and stay ahead of the competition. We will demonstrate the advantages of embracing experiments as a method to improve the organization and fuel growth.
- Why are failures required for success?
- Why are failures so feared?
- What are some of the more common reasons for failures?
- Why do poor leaders believe that failure is failure?
- What does ‘fire bullets then cannonballs’ mean?
- How should you and your organization embrace experiments?
Getting the Most When Selling a Business: Little Details to Get Top Value
Every business will be sold eventually. When you have built a great business and decide to move on – you want the most you can get for that terrific organization! What are the steps to take to maximize the value realized? What are the three levers to achieve maximum value? Learn how to prepare for a successful sale of the organization to maximize shareholder value.
- What do buyers really want?
- Steps to take so your business will be attractive to buyers
- The process to prepare for a sale: steps and timing
- Pitfalls to avoid
- The value of a strong advisory team
- Key considerations
Measure What Matters: Identify the ‘Right’ KPIs and Metrics
With all the data available today in our organization, industry, economy, and globally, how do we identify what to measure and how? Metrics from other industries may be applicable to your industry. Metrics are not only for managers; they are for employees at all levels. Effective dashboards help achieve organizational goals and objectives. We have too much data and this seminar will show you how to turn data into useful information.
- Identify and describe metrics from many industries
- Tailor metrics to fit your industry and organization
- Find the right metrics to achieve your strategic goals
- Understand why and what to measure
- Establish an understandable dashboard
- Determine high-level and detailed KPIs
- Learn how to assist management to make informed decisions
Benefits- Understand the benefits of diversity, equity and inclusion (DEI) initiatives and learn proven, effective techniques to realize those benefits.
- Learn from successful organizations that have embraced experimentation.
- Identify the key considerations when preparing to exit the business to achieve optimal sales price.
- Determine the nontraditional metrics and modify them to fit your organization's specific business needs for more actionable, informed business decisions.
Designed ForFinancial leaders, regardless of title, who are, or aspire to be, chief financial officers. The discussions are targeted to people in midsize organizations. View Full Event Details |
| November 27, 2023 | 8:30-4:30 PM EDT | | CFO Series: Staying Ahead in a Dynamic EconomyFocus on the skills that will help you and your organization become more effective dealing with risk, fraud, cybersecurity, mergers, and acquisitions. HighlightsCybersecurity for the CFO: Ransomware and Beyond
Cybercrime increased by more than 500 percent during the pandemic. Many financial leaders are tasked with overseeing computer security, which is typically outsourced. Verizon reports that 44 percent of all data breaches by companies with less than 1,000 employees were caused by malicious employees. We will review a multi-step plan on how to enhance your data integrity.
- Identifying weaknesses within your cybersecurity
- Recognize the more common threats
- Understand your most vulnerable risk – your employees, including you
- How, where and how many backup plans
- Is an IT disaster recovery plan sufficient?
- The pros and cons of the cloud
- Do we truly understand our cyber-insurance policy?
- The need for a method to shut everything down immediately
- How cybersecurity is not for IT alone, it is crucial for the entire organization
Detecting Internal Fraud: Expect the Unexpected
Two-thirds of small businesses will experience some form of employee fraud according to the Better Business Bureau. 30 percent of business failures result from employee fraud; and current estimates indicate businesses lose 5 percent of their revenues to occupational fraud. Many businesses do not have adequate controls in place to prevent and detect fraud, often because of time, staff, or financial constraints. This session will discuss common frauds and identify realistic ways for businesses to take steps to prevent becoming the next victim.
- Defining the problem: What are the key elements of occupational fraud?
- Requirements for internal controls: SOX, FCPA, SAS 115 as well as lenders, investors, regulatory bodies
- How to develop a risk profile for the organization and employees
- Establishing specific controls targeting the business’ risk
- Monitoring the culture, the staff, and the controls for effectiveness
Mergers and Acquisitions: Tips and Speed Bumps to Avoid
Mergers, acquisitions, and alliances have been — and will continue to be — major paths to organizational growth and increased competitive advantage. Despite the great initial promise of many mergers and alliances, few seem to yield the anticipated results. Numerous studies indicate that between 55 percent and 77 percent of mergers fail to accomplish their intended purpose. This course helps financial professionals, and their advisors identify, execute, and consummate mergers and acquisitions that create shareholder value while avoiding the many traps that can cause post-acquisition failure.
- Identifying potential acquisition candidates
- Make strategic acquisitions
- Understand the keys to effective and efficient due diligence
- Plan and execute an effective integration
- Key considerations
Transition Smoothly in Business: Success and Fun in Your New Role
Most professionals will change roles many times. Is your position changing - a promotion, a new job, retirement, joining a board? How to transition smoothly and understand those who you will work with? How will you fit in? How will youI learn what to do and what not to do? This seminar will prepare you to move on and be successful.
- The two crucial questions to ask when taking on a new role
- How to check out the new organization and the new manager – before you start
- Approaches to maintaining professionalism when others do not
- Ways to interact with multiple generations
- Learning to adapt to changing situations
- Techniques to integrate work and social life
Benefits- Understand the risks of cyber-crime and how to enhance data security.
- Identify a business’ fraud risk profile and create meaningful internal controls.
- Identify the key considerations when exploring mergers as a tactic to achieve strategic objectives.
- Learn how to fit in and become productive in a new environment.
Designed ForFinancial leaders, regardless of title, who are, or aspire to be, chief financial officers. Discussions are targeted to people in midsize organizations View Full Event Details |
| December 11, 2023 | 8:30-4:30 PM EST | | CFO Series: Today's Staff Retention and AccountingFocus on skills that will help you and your organization become more effective including today’s methods to retain key employees, equity compensation plans, inventory accounting and timeless lessons from great leaders to improve the organization. HighlightsStaff Retention: Attract and Keep the Best People
Why do your best employees leave? Does it seem like you spend far too much time recruiting? Do your people leave just as they become productive? If you think your turnover is because the younger generations are different from earlier generations, you are probably not looking at the real source of the problem. Review the facts and research why people leave and learn the changes to make now.
The real costs of turnover
12 factors that make employees happy
Examples of great organizations
Lifestyle issues
Exit interviews and stay interviews
Accounting for Equity Compensation Plans: Beware of the Pitfalls
In today’s business world, there's a war for talent and organizations with the best talent will win. We clearly need to motivate talented personnel. Equity compensation plans are useful to retain, reward and recruit. The GAAP and tax accounting for equity compensation plans is not static and decisions that you make during plan set-up can have major consequences to your organization’s bottom line and your management team’s personal tax situations. Review nuances and details that impact proper accounting. This session will help you understand issues including:
Why most equity compensation plans fail?
Complexity of GAAP accounting for equity compensation plans
Tax implications of equity compensation plans
Who and how an equity compensation plan should be administered?
Compliance issues to consider
Recommendations to design a better equity compensation plan
Inventory Accounting: GAAP, Software and Variance Recognition
Proper inventory accounting is deceptively complicated. Do you have the required accuracy? Do you desire to become more thorough in inventory accounting, or need to refresh, or strengthen your inventory accounting skills? This session focuses on the crucial components including GAAP inventory, inventory software methods for dealing with variances and breaking down costs in materials, labor and overhead.
Awesome Business Lessons from the Past: Learn from the Best!
Why not learn, or re-learn, some amazing business lessons from the past that are still effective today? We see today’s problems and believe that these problems have never occurred before. We will discuss timeless business lessons that are as practical today as when they were written decades ago. We will review; ‘How to Win Friends and Influence People,’ ‘Today and Tomorrow,’ and ‘The Art of War.’ Let’s learn from the very best, as these lessons have been battle tested and proven over time.
Six methods to get others to like you: How to learn what others want
12 ways to win others to your way of thinking: How to destroy your enemies
Fundamental principles of Henry Ford’s success: Technology, training and ‘Scientific Method’
13 steps necessary to plan for success: All plans must adjust to changing realities - What are the traps to avoid?
How to use these principles to move your organization forward
Benefits- Understand what employees want and need in today’s competitive
environment.
- Design an effective equity compensation plan.
- Understand the complexity of GAAP accounting for equity compensation plans.
- Better understand GAAP accounting for inventory and the many details that must be addressed for accurate inventory accounting.
- Learn valuable, time-tested management strategies that have been proven effective over many decades.
Designed ForFinancial leaders, regardless of title, who are, or aspire to be, chief financial officers. The discussions are targeted to people in midsize organizations.
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