Successful companies implement strategies that allow them to use their resources efficiently. Learn to create a roadmap to successful performance by tying the organization's metrics to its strategy and driving results.
DESIGNED FOR
Those who are, or aspire to be, chief financial officers. We will focus discussions on medium-sized organizations.
BENEFITS
- Develop a plan for your company’s success
- Know why the company with the best cost information wins
- Turn management accounting into a competitive advantage for your company
- Learn to explain financial concepts in layman’s terms
HIGHLIGHTS
Topics Discussed:
Drive Corporate Performance: Create a Competitive Advantage (MT)
Boards are increasingly looking to CFOs to participate, if not drive, corporate strategy development. Most financial professionals can identify a strategy that provides a competitive advantage when they see one, but don’t know how to look for it. This session will lead you through the strategy development process and then show you how to turn your organization’s plans into reality.
Pricing for Profitability: Why Cost Matters (AA)
Three things can happen in pricing, and two of them are bad. Overpriced products are a missed opportunity, whereas underpriced products give away your products at a loss. When sales and accounting personnel fail to work together, the company risks becoming its industry’s “dumb” competitor. Accountants involved in pricing can help the company understand the difference between “dog” and “gravy” opportunities with knowledge that directly translates into an improved profitability. You will leave this session understanding why the company with the best cost information wins!
Contemporary Cost Concepts: Understanding Activity-Based Costing (AA)
Bad cost analysis leads to bad decision making. Traditional cost accounting provides the average cost of an average product, produced in an average volume and sold to an average customer. Traditional techniques can be disastrously inaccurate when trying to understand products that are not average in every way. This session explains activity-based costing and why it gives your company a competitive advantage.
Communicating Financial Information to Non-Accountants (AA)
Do you ever get blank looks when you present your company’s financial statements? Does your board nod knowingly after your presentation, but never seems to have any meaningful questions? It could be that they have no idea what you are talking about and are just pretending to understand! Learn how to connect with your CEO, board, fellow managers and team members so they understand your message. Learn to motivate them to action. Come hear a veteran CFO tell you how.
COURSE LEVEL
Intermediate
PREREQUISITES
None
ADVANCE PREPARATION
None