CPE: 4 hours
Prerequisites: Management experience in accounting, finance, or operations
Advanced prep: None
Who should attend: Owners, controllers, treasurers, financial officers, and other financial managers
When an organization fails, it is usually due to several factors. These often result from a number of undetected, poor practices that infect and grow throughout the entire organization. They can include a lack of understanding of costs, poor asset allocation, systems that support the status quo, failure to identify risk, tunnel vision by management, and so on. Often, management will repeat poor practices across the enterprise. For example, do you think a so-called "budgeting crisis" is normally due to the budget, or actually hidden, existing problems that were uncovered due to the budgeting process? This course demonstrates the use of practices and techniques specifically designed to assist CPAs and other financial professionals in adding value to their company through improved decision-making, cost management, understanding business cycles, managing continuous improvements, cash management, and risk management. Examples of actions by both successful and failed organizations are used throughout the session.
When you complete this course you will be able to:
Techniques and ideas to establish and maintain an effective organization
Examples of successful and failed companies as a source of learning
Identification of broad measures that provide insights into the direction of the economy
Practical ideas to improve forecasting
Framework and methods to uncover and manage risk
Identify and correct practices that can negatively impact an organization.
Isolate and measure cost drivers and trends.
Prepare for and navigate an organization through the business cycle.
Initiate and manage a variety of improvement programs.
Implement cash management systems and consolidate them into an organization's plans.
Identify and manage risk throughout the enterprise.