The CFO Series provides a convenient, one-stop way for CFOs and those who aspire to be CFOs, to an entire year of CPE with a single decision. Each day consists of a subject matter expert leading discussions about four different topics. The CFO Series features high-quality presentations and an interactive, executive level colleague-to-colleague approach with case studies, group discussions, and team exercises.
Each topic and each day stands on its own. If you are not sure about making a multi-day commitment, sign up for just a single day. We think you will come back for more!
This CFO Series Day
This four-topic event focuses on three separate, proven tactics to increase profitability, including cost reductions, revenue enhancements, reducing investment, avoiding waste, and taking a more integrated look at avoiding risk. We also look at methods to optimize the return from the marketing function. The focus is simple – getting the most bang for the buck with proven approaches to increase profitability and to improve the organization.
Topics Discussed
Aren’t We All Auditors? All the Time
2 Auditing credits
Audits involve testing, review, examination, and verification. However, on another level – you and I audit; procedures, reports at work, who fulfilled commitments, systems, other people’s driving skills, deliveries, etc. We all audit everything all the time, and that is wonderful. Auditing skills are valuable and necessary for our professional success and personal happiness. Every professional will audit what they encounter, including us. We will illustrate how continuous auditing skills are valuable, all the time. Whether you are an auditor, or not, our role as a business leader IS to audit continuously! Better leaders have these skills.
Topics Discussed
- The need to think before we react.
- Look and listen effectively!
- Evaluate using multiple different criteria.
- Problem solving, not just problem identification
- Demonstrate empathy.
- Think critically, and not be critical.
- Being skeptical without being cynical
- Unconventional keys to success
- The never-ending need to audit continuously
Objective: To more fully grasp that our role is to constantly review, listen and examine – both in our professional life and personal life. To create a deeper understanding of the value of our auditing skills.
Cases and Group Discussion
This seminar includes two (2) case studies.
Prerequisite: At least six (6) months of professional experience and in financial statement analysis. Preferably at least six (6) months experience in tax matters.
Audits Begin with The Right Questions: Listen!
2 Auditing credits
Technology has boundless memory and can store all the answers, unlike humans. Regardless, technology and AI cannot discern the right questions to ask. Asking the right questions separates successful professionals from mediocre professionals. This session will take a big-picture approach and redefine auditing in a broader perspective which will deepen your skills, perspective, and know-how. The truth is that all professionals are auditors. We will illustrate three types of audits and dive into the most fundamental aspects of our daily work-lives that need constant attention, not seasonal treatments. We will show how to become a better listener and to ask better questions!
Topics Discussed
- The need to ask the ‘right’ questions
- A core principle of audits not taught in the “textbook”
- A new type of audit that will simplify your life
- Four auditing skills to take you from being a good auditor to being an amazing auditor
- The most important element of auditing is listening
Action steps to become a great listener
Objectives: To understand why listening skills are crucial for all leaders and for any professional who audits others’ work. To create a deeper understanding of the psychology behind how powerful auditing can be when done by a more insightful and purposeful manager who wants to drive his/her skills.
Cases and Group Discussion
This seminar includes four (4) case studies.
Prerequisite: At least six (6) months of professional financial statement analysis experience.
What We Can Do to Minimize Taxes: Without Danger
2 Tax credits
When stepping into a leadership role you may not have been exposed to all the various tax issues. We will take a thirty-thousand-foot view into corporate income taxes and some other taxes. The focus is to potentially lower taxes. We will explore what and how to communicate with your external accounting firm. What is the value of proper fixed asset schedules and their crucial role? Depreciation, qualified business income, and the employee retention credit will be reviewed. Keep a schedule, be prepared, because at the end of day – you will be held accountable and responsible for missed dates, missed opportunities, and also may be given credit for taxes saved. Be prepared and aware of tax savings alternatives.
Topics Discussed
- Tax reduction strategies
- History of taxation in the USA
- Understand your tax environment.
- Entity and associated forms
- Taxes; corporate, state, property, and sales taxes
- Tax planning concerns
- Depreciation and fixed asset schedules
- How to recognize and ward off tax schemes
Objectives: Fulfilling your responsibilities to account for tax in your organization(s) and successfully navigate the diverse paths to minimize taxes.
Cases and Group Discussion
This seminar includes three (3) case studies for group discussion.
Prerequisite: At least six (6) months of professional experience and in financial statement analysis. Preferably at least six (6) months experience in tax matters.
Successful System Implementations: Planning!
2 Information Technology credits
System changes are common, so why does seemingly every new system update or installation have multiple, new problems? We will review the causes and effects, including a short-term outlook. We will focus on the best practices of successful organizations, specifically the one key task for success – proper planning. What are the steps to take? Which functions need to be involved? How to reduce risk? These actions can be applied to small system changes, system upgrades, or large ERP systems. Do not make the same mistake over and over – learn from others who have paid the hefty price.
Topics Discussed
- Consequences of failure to plan
- Why do shortcuts cause even more issues?
- We must learn from our previous mistakes.
- No two installations are the same!
- A team effort, with the right people, is required!
- Tests and testing are mandatory.
- Why cheap costs more
- How should accounting communicate?
- Managing the organization to enable better system implementations
Objectives: To understand best practices in effective system implementation. What are the pitfalls to avoid?
Cases and Group Discussion
This seminar includes one (1) case study and numerous practical examples for participants to employ.
Prerequisite: At least six (6) months of professional financial statement analysis experience.
Target Audience: CEOs, Corporate Financial Leaders, CPAs, business owners, Corporate Financial Managers, entrepreneurs, CFOs, Controllers, Accountants, Board members, advisors, Consultants, and the professionals who advise them. CPAs in public practice and CPAs in industry who want to improve their success in systems implementations.
Level of Knowledge: Intermediate
CPE Credit: 4 Auditing, 2 Tax, and 2 Information Technology
Advanced Preparation: None.
Acronym: CFOS2-24
Vendor: The Knowledge Institute, LLC
Discussion Leaders: Robert Berry, CPA; Steve Boussom, CPA; Tracy Cooper, CPA; Bob Mims, CPA; Don Minges, MBA
