Course Details

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ADDITIONAL DATES

Dec 03, 2020 | 08:00 AM PST Register
Dec 10, 2020 | 08:00 AM PST Register

Course Description

Management accounting practices have become increasingly progressive since the 1980s. Many organizations are far from where they want and need to be with improving performance, and they apply intuition, rather than hard data, when making decisions. Collecting, validating, and reporting data is not the same thing as analyzing information where we can glean valuable, actionable insights. In this 8 Hour webinar Internationally recognized expert, speaker, and author Mr.Gary Cokins will take you through how to apply Business Intelligence and Business Analytics to the Financial data, Corporate Performance Management(CPM), Budgeting & rolling Financial Statements and Effective Management Accounting Practices

Session 1: Business Intelligence (BI) and Business Analytics (BA)

Volatility and complexity are the new normal. Most organizations are drowning in data, but starving for information. The finance and accounting function has the opportunity to leverage Big Data and the continuum of analytics – descriptive, diagnostic, predictive, and prescriptive. All are useful for better decision making. Collecting, validating, and reporting data is not the same thing as analyzing information where we can glean valuable, actionable insights. In some ways the finance function is many years behind other disciplines such as marketing, sales, and supply chain managers, in applying analytics. How can the CFO’s function catch up? 

Session 2: Corporate Performance Management (CPM)

Corporate performance management (CPM) is now viewed as the seamless integration of managerial methods such as strategy execution with a strategy map and its companion balanced scorecard (KPIs); enterprise risk management (ERM); driver-based budgets and rolling financial forecasts; product, service-line, channel, and customer profitability analysis (using activity-based costing [ABC] principles); customer lifetime value (CLV); and Lean and Six Sigma quality management for operational improvement. Each method should be embedded with business analytics and especially predictive analytics as a bridge to prescriptive analytics to yield the best (ideally optimal) decisions. This session number 1 is on a strategy map and its companion balanced scorecard (KPIs)

Session 3: Driver Based Budgeting & Rolling Financial Statements

The annual budgeting process is often criticized as a fiscal exercise done by the accountants that is obsolete soon after it is published, prone to gamesmanship, cumbersome, not being volume sensitive, and disconnected from the strategy and needed risk mitigation spending. 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. The budget can be periodically refreshed to be rolling financial forecasts extending beyond the fiscal year end. Learn how managerial accounting can become managerial economics. 

Session 4: 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. 

21st Century management accounting develops cost/unit metrics that are useful for budgeting, cost analysis, and control. Activity-based costing (ABC) brings truly accurate fact-based costs with visibility. ABC does not broadly allocate overhead, but traces costs by identifying cause-and-effect relationships. Such information provides the ability to reveal the true profit margins for products and service-lines as well as for specific sales channels and customers. 

The same information also helps reduce costs and improve productivity by reporting unit costs that can be benchmarked against your competition and to monitor cost trends. Removing the barriers caused by your current management accounting techniques can provide huge rewards.  

Join this webinar to view corporate performance management (CPM) as the seamless integration of managerial methods rather than as a single process and how to apply Business Intelligence and Business Analytics to the Financial data, Budgeting & rolling Financial Statements and to learn Effective Management Accounting Practices. 

Learning objectives

  • The difference between forecasting and predictive analytics
  • Examples for the CFO and accounting function
  • To provide an overview of all of the corporate performance management (CPM) methods.
  • To learn how to define appropriate key performance indicators (KPIs).
  • How to develop a driver-based “operational budget” based on resource capacity planning

About Presenter

Gary Cokins, CMA, MBA

Advisor, Analytics-Based Performance Management LLC

gcokins@garycokins.com

Gary Cokins is an internationally recognized expert, speaker, and author in enterprise and corporate performance management improvement methods and business analytics. He is the founder of Analytics-Based Performance Management, an advisory firm located in Cary, North Carolina at www.garycokins.com . Gary received a BS degree with honors in Industrial Engineering/Operations Research from Cornell University in 1971. He received his MBA with honors from Northwestern University’s Kellogg School of Management in 1974.Gary began his career as a strategic planner with FMC’s Link-Belt Division and then served as Financial Controller and Operations Manager. In 1981 Gary began his management consulting career first with Deloitte consulting, and then in 1988 with KPMG consulting. In 1992 Gary headed the National Cost Management Consulting Services for Electronic Data Systems (EDS) now part of HP. From 1997 until 2013 Gary was a Principal Consultant with SAS, a leading provider of business analytics software. 

Analytics-Based Performance Management LLC. provides advisory services to organizations, consulting firms, and software vendors with their challenges to get started, implement, and leverage enterprise and corporate performance management (EPM / CPM) methods such as customer profitability analysis (using ABC), analytics, rolling financial forecasts, strategy maps, and balanced scorecards (KPIs).

FAQ

  • To receive CPE credit for the event, you must register for the webcast prior to the start of each program.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete webinar and respond to all polling questions asked during the webinar. CPE is issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here :https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you are Canadian Chartered Professional Accountant (CPA) many of our courses qualifies for your verifiable CPD requirements you will get your certificate for the program. You can check a tab of “Webinar Qualifies for” for the same.However please do verify with respective regulatory body about the eligibility for the same.
  • Many of our courses are approved by “CFP Board” for CE credits of certified financial Planner(CFP). Please check a tab of “Webinar Qualifies for” to verify whether webinar qualifies for CE credits for CFP or not.

Refund/Cancellation Policy

For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128

In case any of the course or live webinars gets cancelled we would be refunding you the entire amount (if paid).

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NASBA Approved

MY-CPE LLC, 1600 Highway 6 South, Suite 250, Sugar Land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

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  • Cost $80
  • CPE Credits 7.5
  • Subject Area Accounting
  • Course Level Basic
  • Instructional Method group internet based
  • Prerequisites None
  • Advanced Preparation None
  • Who should attend? Finance Pros Bookkeeper Accountant CFO/Controller Business Owner CPA - Small Firm CPA - Mid Size Firm Accounting Firm Tax Pros CPA (Industry) Auditors Tax Firm CPA in Business HR Professionals Finance Director Accounts Director VP Finance Chief Accounting Officer Accounting Managers
  • Handout Material Download

upcoming Live CPE Webinars

BEST TAX RETURN WORKSHOP - PARTNERSHIPS & LLCS (FORM 1065) - 2020 Updates
Tuesday, November 24, 2020 | 10:00 AM EST View Details/Register
Annual Federal Tax Update - Individuals (Form 1040)
Tuesday, November 24, 2020 | 10:00 AM EST View Details/Register
The Mathematics of Estate Planning for IRAs After the Secure Act
Tuesday, November 24, 2020 | 10:00 AM EST View Details/Register
QBO Complete Comprehensive Overview - Latest 2020
Tuesday, November 24, 2020 | 10:00 AM EST View Details/Register
QBO: Build Right Chart of Accounts - Base for Accounting and Reading Financial Statement
Tuesday, November 24, 2020 | 11:00 AM EST View Details/Register
Qualified Business Income (QBI) Deduction (IRC §199A) Detailed Study, Analysis,Calculations,Case Studies, Ins & Outs (Latest)
Tuesday, November 24, 2020 | 08:00 AM PST View Details/Register
Planning for Your Clients’ Incapacity
Tuesday, November 24, 2020 | 11:00 AM EST View Details/Register
Fraud Update - Latest 2020
Tuesday, November 24, 2020 | 08:00 AM PST View Details/Register
Estate Planning Fundamentals for IRAs 2020
Tuesday, November 24, 2020 | 08:00 AM PST View Details/Register
LET YOUR ACCOUNTING OR TAX PRACTICE GROW ON ITS OWN
Tuesday, November 24, 2020 | 12:00 PM EST View Details/Register
INTRO TO ACCOUNTINGSUITE™ & MULTI-CHANNEL INVENTORY
Tuesday, November 24, 2020 | 12:00 PM EST View Details/Register
Get Massive Results from your Staff: The Tools and Process you need to lead your team to flourish in productivity and profitability
Tuesday, November 24, 2020 | 12:00 PM EST View Details/Register
Transfer Pricing and Tax Reform Opportunities
Tuesday, November 24, 2020 | 12:30 PM EST View Details/Register
PPP UPDATES WITH LATEST GUIDANCE FROM SBA, IRS & FORM 3508, FORM 3508-EZ, 3508-S
Tuesday, November 24, 2020 | 12:30 PM EST View Details/Register
CIRCULAR 230 ETHICS (UPDATED 2020)
Tuesday, November 24, 2020 | 01:30 PM EST View Details/Register