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Analytics-Based Corporate Performance Management (CPM)

Roadmap for the Analytical Transformation

  • Price

    $49

  • Total Credits

    4 CPE

Analytics-Based Corporate Performance Management (CPM)

Overview

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 analysing information where we can glean valuable, actionable insights.

Most executive teams are reasonably good at formulating their organization’s strategy, or they hire consultants to help them. A major frustration with executives is the failure to successfully implement and execute their strategy.

Their fear, uncertainty, and doubt (FUD) concerns, many organizations struggle to answer these types of questions:

  • How well do our managers and employees understand our executive team’s strategy?
  • Are we measuring the right metrics?
  • If we are measuring key performance indicators (KPIs), are they “balanced” between financial outcomes and the non-financial measures related to customer loyalty, process improvement, employee learning & growth, and innovation?
  • Are we measuring too many strategic KPIs where many are arguably operational performance indicators (PIs)?
  • Are our product and service-line costs accurate? Or are our accountants misallocating indirect expenses (i.e., overhead support)?
  • Do we measure non-product channel and customer costs to report profit or loss by each customer?
  • How effective is our annual budgeting process? Does its benefit exceed the costs to produce it?
  • Is the budget out of date within a few months after it is published?
  • Do experienced managers “pad” their department’s budgets?
  • Is consolidating cost center budgets bottom-up cumbersome?
  • Do we understand incremental/marginal expense analysis classifying the behaviour of our resource capacity expenses as sunk, fixed, step-fixed, or variable based on the planning time horizon?
  • Are many of our decisions based on intuition or experience rather than on fact-based data?
  • How much competency does our organization have with analytics?
  • How much resistance to change does our organization have that is slowing our adoption rate of progressive managerial methods?

In this CPE virtual event, an internationally recognized expert, speaker, and author Gary Cokins explains how to apply Business Intelligence and Business Analytics to the Financial data, Corporate Performance Management (CPM), Budgeting & rolling Forecast Financial Statements and effective Management Accounting Practices.

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Continuing Education Credits

The sessions of the conference qualifies for

  • 4 CPD Credit for all CPA (CA)
  • 4 CPE Credit of Finance for CPA (US)

Speakers

Gary Cokins

Gary Cokins

Founder & CEO , Analytics-Based Performance Management LLC

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. 

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Session Details

Gary Cokins
Gary Cokins

CMA, MBA

Date

Oct 29th, 2021

Time

12:00 PM – 01:00 PM
1 Credits

Corporate Performance Management (CPM) / Strategy Maps and Balanced Scorecard

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 CPE session is about a strategy map and its companion balanced scorecard (with KPIs) and covers the following major 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

Learning Objectives

  • To provide an overview of all of the corporate performance management (CPM) methods.
  • To explain the origins of the balance scorecard.
  • To discuss how to design a strategy map.
  • To determine how to define appropriate key performance indicators (KPIs).
  • To determine how to apply targets of KPIs for motivation and incentives.
  • 1 CPD credit of for all CPA (CA)
  • 1 CPE credit of Finance for all CPA (US)

Subject Area:

Finance

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

Advance Preparation:

Gary Cokins
Gary Cokins

CMA, MBA

Date

Oct 29th, 2021

Time

01:00 PM – 02:00 PM
1 Credits

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 distribution channels and customers.

Management accounting information also helps reduce costs and improve productivity by reporting unit costs that can be benchmarked against the competition and to monitor cost trends. Removing the barriers caused by an organizations current management accounting techniques can provide huge rewards.  

Learning Objectives

  • To recognize the need of advanced management accounting techniques, such as ABC?
  • 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 partner.
  • 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 determine how to apply “Attributes” to assess “value-added costs” and “costs of quality (COQ)”
  • 1 CPD credit of for all CPA (CA)
  • 1 CPE credit of Finance for all CPA (US)

Subject Area:

Finance

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

Advance Preparation:

Gary Cokins
Gary Cokins

CMA, MBA

Date

Oct 29th, 2021

Time

02:00 PM – 03:00 PM
1 Credits

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. Organizations 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.

This Online CPE session covers the following key topics:

  • 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

Learning Objectives

  • 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
  • 1 CPD credit of for all CPA (CA)
  • 1 CPE credit of Finance for all CPA (US)

Subject Area:

Finance

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

Advance Preparation:

Gary Cokins
Gary Cokins

CMA, MBA

Date

Oct 29th, 2021

Time

03:00 PM – 04:00 PM
1 Credits

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? 

This CPE session will help attendees understand 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 and Rolling Financial Statements and to learn Effective Management Accounting Practices. 

Learning Objectives

  • 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
  • 1 CPD credit of for all CPA (CA)
  • 1 CPE credit of Finance for all CPA (US)

Subject Area:

Finance

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

Advance Preparation:

Frequently Asked Questions

This is a virtual event and shall be held on Zoom Application. The handout material for each session shall be available for download on the conference/workshop detail page.

Virtual conference with myCPE is enveloped around a theme or subject or driven towards a particular audience, and is designed to be more collaborative; with a tremendously interactive agenda, panel discussions, and gives an option to all participants being able to turn their web cameras on and participate more actively. Virtual conference offers multiple sessions over a longer time frame of more than 8 hours. Virtual conferences help build a community or initiate networking opportunities.

The duration of this event can be seen below its title. The credits for this conference/workshop are also mentioned below the title.

The Specific Takeaways and the purpose of this event is mentioned in the ‘Overview’ and ‘Session Details’. Additionally, by attending a Live Virtual Event you can experience the interactivity equivalent to an in-person conference without having to leave your screens or risk your lives especially post pandemic situations. Nevertheless, bulk CPE/CE is an icing on the cake.

myCPE is seamlessly integrated with ZOOM for conducting continuing education events. Please ensure that you check the system requirements before the event starts. The system requirements are :

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There is an official break scheduled for this workshop/events. Other than the scheduled break, the in-session breaks shall be available at discretion of the speaker.

A live virtual event enables remote participants to access live, interactive networking opportunities and content through their computers/other digital devices, no matter where they are located. These events can be conducted in multiple formats;

Conference: A virtual conference is an activity, organised in a way that participants can meet and discuss themes of common interest through the use of communication tools at a central location on the Internet

Workshop: A workshop is not very different from a conference. The key point that makes a workshop unique is that it is a brief intensive educational program for a relatively small group of people that focuses especially on techniques and skills in a particular field.

The myCPE virtual events are designed to impart education around a specific theme or subject from a basic to an advanced level, which is why we do not recommend you to leave the event in between. However, if you had to leave the event because of some unforeseen circumstances, you would be granted the credits for the sessions that you attended completely and wherein you answered all the polling questions.

The recording of the event can be made available to you, on request. You can reach out to us at support@my-cpe.com or can also let us know through live chat support if you need a recording for this event. However, the recording shall not be available for Continuing Education Credits.

You can cancel your registration for a premium conference/workshop at any time before the start of the event. Upon successful cancellation the entire amount shall be credited to your myCPE wallet within 24-48 working hours. The balance in your myCPE wallet can be used to register for premium live webinars, premium self-study webinars, myCPE package courses or any other future virtual conference/workshop.

All the upcoming virtual events can be seen listed under the ‘Virtual Events’ tab on the homepage of myCPE (www.my-cpe.com).

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myCPE recommends that you verify if your digital device is compatible with the ZOOM software prior to attending the live events on myCPE (www.my-cpe.com)

For every Session you attend in a Virtual Event, you need to remain logged into the session till the end and answer the polling questions asked during the event. Once you have fulfilled these two criteria, you shall receive an evaluation form in the next 24 hours. You will receive an email with the link to complete the evaluation form and it will also be available in your myCPE account under the 'My Virtual Events’ section, under the 'Pending Evaluation' tab. Once you complete the evaluation form, you will receive an email with your credit certificates and the same shall also be available in your myCPE account under the 'My Certificates' tab. The link in the certificate email is for downloading the certificates. If the event qualifies for multiple certificates, each certificate will be available for download.

Once you complete the evaluation form, you will receive an email with your credit certificates and the same shall also be available in your myCPE account under the 'My Certificates' tab. The link in the certificate email is for downloading the certificates. If the event qualifies for multiple certificates, each certificate will be available for download

During every conference the chat panel shall always be open. You can mention the issue faced by you in the chat panel and our moderator will take it up for resolution shortly. You can also reach out to our support team in the live chat support or at support@my-cpe.com

Yes, each live virtual conference/workshop shall be recorded and the recording of the same can be made available to on request. However, the recording shall not be eligible for continuing education credits.

If you’re a new user, you will have to sign-up at www.my-cpe.com to register for a virtual event. Click Here for a free sign up to myCPE. If you’re an existing user, you need to log in to your myCPE account.

Once you’re logged into your myCPE account, you can click on the ‘Virtual Event’ tab, scroll down to view the upcoming Virtual Events. There is a Register Button on each event detail page. Once you click on REGISTER, you will receive a prompt pop up that you have registered for the event. If it is a premium event then you will first be redirected to the payment page and after paying the amount you will receive a prompt pop up that you have registered for the event.

You can cancel your registration to any event from your myCPE account. Look under My Virtual Events >Upcoming Events. Simply click “Cancel Event” against the event that you do not wish to attend. If you cancel your registration for any paid event, the amount shall be credited in your myCPE wallet within 24-48 hours.