CFO Series: Corporate Performance Management (8 hrs)

Description

A four part "Master Class" in Management Accounting: 
1. Corporate Performance Management 
2. Effective Management Accounting 
3. Driver-Based Budgeting 
4. Business Intelligence and Data Analytics 
 
1. Poor strategy execution frustrates many executives as their organizations struggle with performance improvement, making decisions using intuition in the absence of hard data. 
2. Critics have claimed that traditional managerial accounting is at best useless and at worst dysfunctional and misleading. 
3. The annual budgeting process is often criticized as a fiscal exercise done by the accountants that is obsolete soon after it is published, prone to gamesmanship, cumbersome, not being volume sensitive, and disconnected from the strategy and needed risk mitigation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. 
4. Volatility and complexity are the new normal. Most organizations are drowning in data but starving for information. 
Understand how Business Intelligence (BI) and Business Analytics (BA) can help you make sense of your organization's data. 
 
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics covered in this class include:

• Corporate performance management (CPM) seamlessly integrates many techniques including strategy maps and a balanced scorecard. Together they align manager and employee behavior, actions, and priorities using key performance indicators (KPIs) with specific targets to enable accountability.
• 21st Century management accounting develops cost/unit metrics that are useful for budgeting, cost analysis and control. This information provides the ability to reveal the true profit margins for products as well as for specific sales channels and customers. Removing the barriers caused by your current management accounting techniques can provide huge rewards.
• Driver-based budgeting allows for quick scenario planning and far easier analysis of a growing organization whose future may look nothing like today.
  Learn how managerial accounting can become managerial economics.
• 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?

Objectives

After attending this presentation you will be able to...

• Identify and track your organization's critical success factors
• Analyze why "What Causes Cost?" is the most important question in management accounting
• Use metrics to create flexible budgets and rolling forecasts
• Convert "too much data" into useful information

Designed For

Anyone who wants a 'master class' in management accounting, e.g., business leaders, CEOs, CFOs, accountants, corporate financial managers, business owners, risk managers, Controllers, entrepreneurs, consultants, and the professionals who advise them.