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Measuring And Managing Customer Profitability

  • Accountant
  • CPA/ABV
  • CPA (CA)
  • CPA/CFF
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CA - ICAEW
  • CFA
  • CGMA
  • IAP
  • QIAL
  • ACCA
  • CIPM
  • CBA/MCBA
  • FPAC
  • CA - Ireland
  • CA - Scotland
  • CPA - Ireland
  • CFIRS
  • CWS

Published: September, 2019

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

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Managerial Accounting – era and issues
    7 mins
  • What is Activity-based costing (ABC)?
    12 mins
  • Key issues faced while Implementing ABC
    28 mins
  • How one should calculate a channel and customer profitability?
    33 mins
  • What is analytics and how to apply it successfully?
    56 mins
  • Historical costing versus predictive costing
    59 mins
  • Which are major barriers that slow down the adoption rate of ABC?
    77 mins
  • Major excuses preventing being progressive
    80 mins

Course Description

In the years of study for identifying which businesses succeed, there come two distinct observations: One is the company that makes their customers believe that they are the net profit in the transaction with them, and the other is the company that actually does so. This calls for the idea that for a company that wants to survive the businesses longer and thrive better, they need to ensure that the customer profitability is maintained and remains the principal idea (or at least one of the principal ideas) of what they are doing. However, businesses being for-profit organizations, need to do this by ensuring that they earn in the process too. This is a complex matter to understand and implement at least from the perspective of accounting for ensuring customer profitability.

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 the current and future potential profitability of products, standard service lines, channels, and customers.

In the opinion of the learned speaker, Gary Cokins, 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. 

This online CPE webinar on Accounting covers the following Key Topics:

  • Eras and issues with managerial accounting
  • Basics on activity-based costing (ABC)
  • Implementing with ABC rapid prototyping
  • Calculating channel and customer profitability
  • Applying analytics
  • Historical versus predictive costing
  • Barriers slowing the adoption rate

If you want to explore the subject from the data analysis perspective, you may be interested in Certified Financial Data Analytics Professional Course.

Learning Objectives

  • To explore reasons for customers being considered the source of shareholder wealth creation.
  • To identify 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)
  • To recognize why the marketing and sales functions need accounting data to better formulate customer account strategies including compensation incentives.
  • To recall how to measure and manage product, channel, and customer profitability
  • To explore how measuring forward-looking customer lifetime value (CLV) differs from calculating historical customer/consumer profitability for B2C industries.

Recommended For

  • This online CPE course on Accounting is recommended for CPAs, CMA, CIA, CVA, ABV, and Other Accounting professionals at any level who desire to help their clients with better accounting measures for business success
  • This online CPD Webinar is also recommended for CPAs in Canada who want to help their clients with accurate measures of business success
  • This online CPE Accounting webinar is recommended for ACCA, CA-Scotland, CPA-Ireland, CA-ICAEW, and other accounting professionals who desire to help their clients with better business success parameters.

    Who Should Attend?

    • Accountant
    • Accounting Firm
    • Accounting Managers
    • Bookkeeper
    • Certified Fraud Examiner
    • Certified Management Accountant (CMA)
    • Chartered Certified Accountant (ACCA)
    • CPA - Small Firm
    • Entrepreneurial CPA
    • Finance Pros
    • QB Pro Advisor
    • Staff of Accounting Firm
    • Young CPA

    Course Qualification

    Webinar Qualifies For

    • 1.5 CPE Credit of Accounting & Auditing for Certified Management Accountants (CMA)
    • 1.5 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
    • 1.5 CPD Credit of Accounting for Chartered Professional Accountant (CPA Canada)
    • 1.5 CPE Credit of Accounting for Chartered Global Management Accountants (CGMA)
    • 1.5 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
    • 1.5 CE Credit for Certified Wealth Strategist (CWS)
    • 1.5 General Credit of Accounting for Accountant/Bookkeeper/Tax Professionals
    • 1.5 CPD Credit for CA - ICAEW
    • 1.5 CPD Credit for Chartered Certified Accountants (ACCA)
    • 1.5 CPD Credit for Chartered Accountants - Ireland (CAI)
    • 1.5 CPD Credit for Chartered Accountants - Scotland
    • 1.5 CPD Credit for CPA - Ireland
    • 1.5 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
    • 1.5 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
    • 1.5 CPE Credit of Accounting for Certified Government Financial Manager (CGFM)
    • 1.5 CPE Credit of Managerial Accounting for Certified Internal Auditors (CIA)
    • 1.5 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
    • 1.5 PL Credit of Financial Statement Analysis for Chartered Financial Analyst (CFA)
    • 1.5 CPE Credit of Accounting & Auditing (Govt.) for Internal Audit Practitioner (IAP)
    • 1.5 CPE Credit of Accounting & Auditing (Govt.) for Qualification in Internal Audit Leadership (QIAL)
    • 1.5 PL Credit of Financial Statement Analysis for Certificate In Investment Performance Measurement (CIPM)
    • 1.5 CPE Credit of Financial accounting for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
    • 1.5 CRE Credit of Financial accounting concepts for Certified Corporate FP&A Professional (FPAC)
    • 1.5 CPD Credit of Financial Reporting for Accredited in Business Valuation (ABV)

    Additional details

    • Course Level :
      Basic
    • Credits :
      1.5
    • Instructional Method :
      QAS Self Study
    • Pre-requisites :
      None
    • Advance Preparation :
      None

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    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.

    Presenter

    About Presenter

    Gary Cokins, CMA, MBA

    Advisor, Gary Cokins

    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. 

    About Company

    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

    FAQs content

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