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

4.6 (12)

Gary Cokins, CMA, MBA

Analytics-Based Performance Management LLC

  • CPA (Canada)
  • CIA
  • CMA
  • CPA (US)

Published: December, 2020

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

Aug 05, 2021 | 10:00 AM EDT Register
Aug 12, 2021 | 09:00 AM EDT Register
Aug 19, 2021 | 10:00 AM EDT Register
Aug 26, 2021 | 11:00 AM EDT Register
Sep 02, 2021 | 12:00 PM EDT Register

Overview

  • Drowning in data but Starving for Information
    7 mins
  • What has Caused Interest in CPM?
    17 mins
  • Why is the Budgeting Process Broken?
    36 mins
  • What is difference between KPIs and Pls?
    66 mins
  • Multiple-Stage Cost Flowing
    110 mins
  • Customer Value Management
    140 mins
  • Key Concepts and Definitions
    188 mins
  • Who Will Benefit Form This Presentation?
    244 mins
  • Why are Some Customers More Profitable Than Others?
    288 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 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)

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 2: 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.  

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: 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? 

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

  • To differentiate between forecasting and predictive analytics
  • To explore the 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).
  • To explore how you can develop a driver-based “operational budget” based on resource capacity planning

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounts Director
  • Bookkeeper
  • Business Owner
  • CFO/Controller
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Finance Director
  • Finance Pros
  • Tax Firm
  • Tax Pros
  • VP Finance

Testimonial

4.6

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CO

my CPE is a great tool

JN

A lot of repetitive material