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Complete CFO Guide On Analytics, Corporate Performance Management, Budgeting, Reporting

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Before starting this self study program, please go through the instructional document.

The topic is also scheduled as live webinar on the following dates

Oct 21, 2021 | 11:00 AM EDT Register
Oct 28, 2021 | 12:00 PM EDT Register
Nov 11, 2021 | 10:00 AM EDT Register

Overview

  • Drowning in Data but Starving for Information
    8 mins
  • ABPM's three major components
    27 mins
  • Constructing Your Strategy Map
    57 mins
  • The "Law of the Lid"
    86 mins
  • What has Caused Interest in CPM?
    109 mins
  • Combined ABC and Project Accounting
    135 mins
  • KPI Linkage of Customer Profits to the Scoreboard
    152 mins
  • Costing Continuum / Levels of Maturity
    182 mins
  • Vision and Mission Statements
    218 mins
  • The Intelligence Hierarchy
    264 mins
  • What Pressures Cause Interest in Business Analystics
    300 mins
  • Baseball has received much attention
    353 mins

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 Online CPE 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 - Corporate Performance Management (CPM), Strategy Map and Balanced Scorecard

Corporate performance management (CPM) is an umbrella term that describes the methodologies, metrics, processes, and systems used to monitor and manage the business performance of an enterprise. You can think of corporate performance as the collaborative accomplishments, successes, and failures of an organization. Corporate performance management (CPM) is now viewed as the seamless integration of managerial methods such as strategy execution with a strategy map. Once implemented it links the strategies of an organization to their plans and execution, therefore helping organizations succeed.

This online CPE webinar for CPAs covered the following key topics: 

  • 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)
  • 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.

Session 2 - Effective Management Accounting

Management accounting is the provision of financial and non-financial decision-making information to managers. In management accounting or managerial accounting, managers use the provisions of accounting information to inform themselves better before they decide matters within their organizations, which allows them to manage better and perform control functions.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. Enter 21st Century management accounting develops cost/unit metrics. They are useful for budgeting, cost analysis, and control.

Activity-based costing (ABC) is really useful because :

  • It brings truly accurate fact-based costs with visibility. 
  • It traces costs by identifying cause-and-effect relationship to just broadly allocating overheads.
  • It this enables to see true profit margin for products and service-lines and for specific sales channels and customers.
  • It reduces costs.
  • It improves productivity by reporting unit costs that can be bench-marked against your competition.
  • It provides a way to monitor cost trends.
  • It removed barriers caused by current management accounting techniques
  • It can provide huge rewards.

Session 3 - Driver-based Budgeting

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. By applying this, the secondary purposes for budgeting like cash flow projections for the treasury function can be achieved by implementing modeling techniques performed by business analysts. 

This Online CPE webinar covers the following key topics:

  • Identifying key budgeting process issues
  • Risk assessment grid
  • Linking Strategy and Risk to the Budget
  • Continuous Refreshing the Rolling Financial Forecast
  • How to deal with Resource Capacity Planning
  • Integrating Enterprise Risk Management with CPM
  • Risk managers: Friend or Foe of executives
  • The intelligence hierarchy

Session 4 - Business Intelligence (BI) and Business Analytics (BA)

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?

The demand for CPA professionals to be able to apply these tools is increasing every day. Don’t be left behind! This Online CPE webinar will bring you up to speed on the concepts, nomenclature, applications and tools associated with data analytics and business intelligence. You owe it to yourself as a CPA professional to attend this course.

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Learning Objectives

  • To provide an overview of all of the corporate performance management (CPM) methods.
  • To understand the origins of the balance scorecard.
  • To learn how to design a strategy map.
  • To learn how to define appropriate key performance indicators (KPIs).
  • To determine how to apply targets of KPIs for motivation and incentives.
  • To recognize the need of advanced management accounting techniques, such as ABC
  • How the ABC cost assignment network structure connects costs to products, service-lines, channels, and customers.
  • To explore how to use ABC to manage product, service-line, channel, and customer profitability.
  • To identify how to measure customer lifetime value (CLV) for retail customers.
  • To recognize and understand costs across a B2B supply chain’s trading partners.
  • To differentiate between two views of costs: (1) process view versus (2) diverse outputs view.
  • To compare ABC with time-driven ABC, resource consumption accounting (RCA)
  • To explore accounting, and other costing techniques.
  • To applying “Attributes” to assess ”value-added costs” and “costs of quality (COQ)”
  • What is broken with budgeting?
  • To explore the shift to rolling financial forecasts 
  • To identify how to deal with resource capacity planning
  • To explore integrating Enterprise Risk Management with CPM
  • To recall how to apply Target Costing for new products and services
  • To recognize why there is an increased the interest in BI and BA
  • To identify the analytics continuum
  • To explore how BA can provide a competitive advantage
  • To recognize the difference between BI and BA
  • To differentiate between forecasting and predictive analytics

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Bookkeepers & Accountants & Tax Preparers
  • Business Owner
  • Certified Management Accountant
  • CFO/Controller
  • Chief Accounting Officer
  • Cloud Accountants
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Director of Accounting
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Finance Director
  • Finance Pros
  • Outsourced CFO
  • Senior Accountant
  • Tax Accountant (Industry)
  • VP Accounts
  • VP Finance
  • Young CPA

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