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Surgent's Improving Your Profits: Identifying Cost Cutting Opportunities (Z1-IYP2-2024-01-SSWC)

100 Minutes
On demand - Video

On Demand - Video

2 CPE Credits in MT

OVERVIEW

Part of one’s duty as a CPA working in industry is to safeguard the assets of the organization. Cost cutting is one way to preserve assets and maintain a company’s competitive position in the industry.

DESIGNED FOR

CPAs, CFOs, and Controllers looking to improve profitability by streamlining expenses for their own organization or for their clients

BENEFITS

  • List behavioral biases that prevent companies from being streamlined
  • Identify techniques that may be used to make cost cutting a part of the company’s culture and business strategy
  • Describe techniques that may be used to discern whether additional headcount is necessary
  • Demonstrate vertical and horizontal financial statement analysis
  • List key considerations when benchmarking against competitors
  • Describe contracting and negotiation techniques
  • Discuss the business cycle and how cash flow management changes during each stage

HIGHLIGHTS

  • What keeps companies from becoming streamlined? 
  • Behavioral biases
  • Information processing biases
  • Emotional biases
  • How to deal with behavioral biases 
  • Connecting behavioral biases to cost cutting
  • Creating a culture of cost cutting
  • Rules of thumb for cost cutting 
  • Managing headcount
  • Post-COVID common areas of excess cost
  • Budgeting techniques
  • Budget variances
  • Benchmarking
  • Common size financial statements
  • Horizontal analysis
  • Negotiation and contracting techniques
  • Cash flow and the business cycle

COURSE LEVEL

Basic

PREREQUISITES

Basic knowledge of budgeting

ADVANCE PREPARATION

None

PRICING

$89.00 - Member

$109.00 - Nonmember

ADDITIONAL OPTIONS

Remind me to register

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COURSE DEVELOPER

Surgent