Before starting this self study progarm, please go through the Instructional Document.
DownloadCourse Details
Overview of Topics
- Managerial Accounting – era and issues
- What is Activity-based costing (ABC)?
- Key issues faced while Implementing ABC
- How one should calculate a channel and customer profitability?
- What is analytics and how to apply it successfully?
- Historical costing versus predictive costing
- Which are major barriers that slow down the adoption rate of ABC?
- Major excuses preventing being progressive
Course Description
Customers increasingly view suppliers’ products and standard service lines as commodities. This means that suppliers must shift their actions toward differentiating their services, offers, discounts, and deals to different types of existing customers to retain and grow them. As a result of this shift from being product-centric to customer centric, suppliers need an increased emphasis on measuring current and future potential profitability of products, standard service-lines, channels, and customers. Activity-based costing (ABC) provides the information lacking in traditional costing practices to address both issues – measuring customer and channel profitability including the costs of products and standard service lines.
Learning objectives
- Why customers are the source of shareholder wealth creation.
- How to shift the mindset from growing sales to growing profitable sales & to view customers as investments like in a stock portfolio to seek higher ROIs – return on customers (ROC)
- Why the marketing and sales functions need accounting data to better formulate customer account strategies including compensation incentives.
- How to measure and manage product, channel, and customer profitability
- How measuring forward-looking customer lifetime value (CLV) differs from calculating historical customer / consumer profitability for B2C industries.
About Presenter
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).
Review Questions
- Question 1 : 16:17
- Question 2 : 35:35
- Question 3 : 50:50
- Question 4 : 68:55
- Question 5 : 85:40
- What has primarily caused indirect expenses (overhead) to displace direct expenses?
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- Why are using spreadsheets not applicable for calculating activity-based costing (ABC)?
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- What is the most significant determinant that influences the accuracy of calculated costs?
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- What is a significant reason why non-product and non-standard service-line "costs to serve" for individual customers are now so critical to measure?
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- What is a condition where ABC is less applicable as a management accounting method?
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- Which one of these does not describe ABC?
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- What type of expenses is increasingly the most important to calculate costs to increase profits?
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- Which is the most superior and comprehensive cost accounting method?
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- What most explains why the largest B2B customers in sales volume are not the most profitable?
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- How can a supplier destroy shareholder and owner wealth?
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- Customer lifetime value (CLV) measurements apply when which one condition exists?
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- What is an essential requirement for reliable "predictive accounting"?
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- Which stage in the ROI on information chart is the highest stage?
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FAQ
- myCPE self-study courses are online.
- The self-study format allows you to access the material online 24/7 and study at your own pace.
- As per NASBA guidelines, you have one year from date of registration to complete each program.
- Complete your final exam at any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.
- Course have minimum passing score of 70% and test takers will not be provided feedback on failed exams.
- Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.
- These are Live recorded presentations converted into Self Study (On-Demand Videos).
Refund/Cancellation Policy
- For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
- Please email to [email protected] in case of any self study program queries.
Reviews
NASBA Approved
MY-CPE LLC, 1600 Highway 6 South, Suite 250, Sugar Land, TX, 77478
MY-CPE LLC - PENDING APPROVAL FOR QAS SELF STUDY DELIVERY METHOD
(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.
upcoming On-Demand Webinars
EMAIL EXTINGUISHER - SIMPLE STEPS TO SHRINK THE INBOX
Friday, September 13, 2019 View Details/RegisterDOES YOUR CLIENT OWN SHARES IN FOREIGN CORPORATION? IMPACT OF TJCA
Friday, September 13, 2019 View Details/RegisterBIGGEST DISRUPTION IN STAFFING FOR ACCOUNTING FIRMS
Friday, September 13, 2019 View Details/RegisterACCOUNTING & CPA FIRMS - TRANSFORM #1 CHALLENGE OF STAFFING INTO AN OPPORTUNITY
Friday, September 27, 2019 View Details/RegisterCALSAVERS - CALIFORNIA'S MANDATORY RETIREMENT PROGRAM
Friday, September 27, 2019 View Details/RegisterOUR NATIONAL RETIREMENT CRISIS AND THE COSTS TO EMPLOYERS
Friday, September 27, 2019 View Details/RegisterAnalytics-Based Corporate Performance Management (CPM)
Friday, September 27, 2019 View Details/Register.jpg)
- Cost $9
- CPE Credits 1.5
- Subject Area Accounting
- Course Level Basic
- Instructional Method QAS Self Study
- Prerequisites None
- Advanced Preparation None
- Recorded Date September 27 ,2019
- Published Date September 27 ,2019
- Who should attend? Finance Pros Bookkeeper Accountant Xero Advisor QB Pro Advisor CPA - Small Firm Accounting Firm Young CPA Entrepreneurial CPA
- Handout Material Download
- Key Terms Download
upcoming On-Demand Webinars
EMAIL EXTINGUISHER - SIMPLE STEPS TO SHRINK THE INBOX
Friday, September 13, 2019 View Details/RegisterDOES YOUR CLIENT OWN SHARES IN FOREIGN CORPORATION? IMPACT OF TJCA
Friday, September 13, 2019 View Details/RegisterBIGGEST DISRUPTION IN STAFFING FOR ACCOUNTING FIRMS
Friday, September 13, 2019 View Details/RegisterACCOUNTING & CPA FIRMS - TRANSFORM #1 CHALLENGE OF STAFFING INTO AN OPPORTUNITY
Friday, September 27, 2019 View Details/RegisterCALSAVERS - CALIFORNIA'S MANDATORY RETIREMENT PROGRAM
Friday, September 27, 2019 View Details/RegisterOUR NATIONAL RETIREMENT CRISIS AND THE COSTS TO EMPLOYERS
Friday, September 27, 2019 View Details/RegisterAnalytics-Based Corporate Performance Management (CPM)
Friday, September 27, 2019 View Details/RegisterPay Invoice
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