CFOs & controllers: Build a Cost-focused Culture

Learning Objectives

• To identify what is a strong costing culture
• To recognize how companies benefit from strong costing culture
• To identify the role of finance in establishing a culture
• To establish costing as a competitive advantage to identifying opportunities and enabling strategies
• To get started on the path to better costing by defining the rules, tools, & data involved 

Course Description

Though cost-cuts provide once in a while solution to an entangled business, creating a cost-focused culture is the long-term approach that businesses can target instead. A cost-focused culture is creating a mindset that looks for value on an ongoing basis.

In popular opinion, cost control is a function of management. However, to deliver effective cost controlling a behavioral commitment and provision & understanding of necessary cost information are vital. The cost-focused culture creates a mindset of focusing on cost-value comparison in all tasks. This process is woven into the fabric of all the decision-making such that it remains constant regardless of business cycles.

This webinar is aimed to provide an understanding of what a cost-focused culture is and how businesses can implement it. It will provide insights as to how you can use best-in-class finance teams catapulting costing and cost transparency to transform leaders’ ability to make effective decisions. It will also emphasize that the cultural shift in this regard is more than just an improved procedure. It requires a change in the employees’ attitude so that it can beat the one-time cost-reduction drive and its requirement in the future. 

This online CPE webinar will be an attraction if you are struggling with the lack of ERP costing capabilities or are overwhelmed with spreadsheets. It will also give ideas about building a robust product costing culture.

In this CPE webinar Adrian Rochofski covers the following Key Topics: 

• Understanding a strong costing culture 
• Benefits of strong costing culture 
• Costing as a competitive advantage for identifying opportunities and enabling strategies 
• How to start on the path of better costing

This will be a very interesting subject in Business Management and Organization for the CPAs, Accountants, Bookkeepers, and other Finance Professionals to support their clients.

Overview

• What is culture? The Importance of culture in an organization

  5 mins
• Role of Finance in establishing a culture

  7 mins
• What is Cost culture?

  11 mins
• Traits of the best cost cultures

  20 mins
• How to build a Cost-focused culture?

  27 mins
• Supporting cost-focused culture with technology - Examples

  43 mins
• Rules of the road for making decisions in Cost-Focused culture

  49 mins