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
Whether you are a seasoned CFO or a staff professional, we all want to enhance our skills and become more effective. We discuss four methods to improve, including getting the most from the sales function, how CFOs can (and should) deliver much more value, new skills to develop, and how to find the time to do this? We also review the value of sustainability, ESG reporting, and measurement. A newer technique that adds value to our role so we can become even more effective. Each of these four topics will help you truly deliver more value.
Topics Discussed
Enhancing Sales: Work with Sales to Drive Result
2 Business Management and Organization credits
Sales and Accounting are not alike. In many organizations the two functions are at odds with each other, causing wasteful infighting. Many times, sales will undercut the accountants and vice versa. Sometimes this is inadvertent and sometimes not. Both functions should work together to achieve superior financial performance. We must take the lead and develop a better relationship with the sales function and the sales team. Oftentimes the sales incentive plans cause friction and result in counterproductive behaviors. If Accounting and Sales were to work together effectively, then net income, revenue and sales incentives would all increase. Thinking differently about how to work together will dramatically enhance financial performance. Imagine at least a five percent increase in the bottom line? We will discuss how. Working together yields superior results.
Topics Discussed
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- Understanding the sales function and sales team
- Differing backgrounds, expectations, and motivations
- Developing strong relationships
- Credibility and trust
- How to ascertain what Sales really needs
- Effective incentive plans that are understood by the sales team
- Becoming the key support people for sales
- Communicating value and profitability
- Explaining risk
- Understanding the sales function and sales team
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Learning Objectives: Understand how to work more effectively with the sales function. Understand the large impact that accounting has on sales. Understand how to enable sales to enhance financial results in your organization.
Cases and Group Discussion
This seminar includes two (2) case studies for group discussion.
Prerequisite: At least six (6) months of professional financial statement analysis experience and at least six (6) months experience working with sales or business development.
Growth Opportunities for CFOs: Value Added CFOs
2 Finance credits
Many CFOs place too much emphasis on external financial and statutory compliance reporting for government regulatory agencies and not enough on corporate performance management (CPM) methods including internal management accounting. The former is for valuation (e.g., inventories and COGS). The latter is for “creating wealth value” to support better decisions. This course provides tools and information for how CFOs can transition from bean counters to bean growers. The best CFOs not only keep score, which is necessary, but they enable the organization to score more, which is much more valuable.
Topics Discussed
- Best practices for product, service line, channel, and customer profitability (using activity-based costing [ABC])
- Strategy management using strategy maps, balanced scorecards, and dashboards.
- Process improvement using lean management with lean accounting
- Process improvement using quality management and cost of quality
- Capacity-sensitive driver-based budgeting and rolling financial forecasts
- Enterprise risk management (ERM); and
- Data science and analytics
Objectives:
- How to view enterprise and corporate performance management (EPM/CPM) as the seamless integration of managerial methods rather than as a process.
- Understand how business analytics is an advance over business intelligence and where Big Data fits in?
- How to identify and differentiate strategic KPIs in a balanced scorecard and operational performance indicators (OPIs) in dashboards.
- How to properly calculate product, service-line, channel, and customer profitability for analysis, insights, and actions.
- How to perform “predictive accounting” for capacity-sensitive driver-based budgets / rolling financial forecasts, what-if analysis, and outsourcing decisions?
- How to overcome implementation barriers such as behavioral resistance to change and fear of being held accountable?
Cases and Group Discussion
This seminar includes several individual exercises to identify and create cost drivers and define key performance indicators (KPIs).
Prerequisite: At least six (6) months of professional financial statement analysis experience and familiarity with accounting principles and organizational performance improvement initiatives.
Ready to be an Effective CFO? Skills to Succeed
2 Business Management and Organization credits
With all the buzz about the additional responsibilities of CFOs today, what are the essential skillsets for success? How do you excel when you are spread so thin? Becoming the multi-skilled CFO companies are looking for requires you to balance traditional responsibilities with new demands. How do you utilize your key relationships and your team to fill the gaps and make sure nothing slips through? To be effective requires a shift in the way financial leaders think and approach their day – rather than a never-ending chase after new skillsets. Thinking differently about how to accomplish the broad spectrum of CFO responsibilities is a key lesson in your essential lifelong learning. We will review many tactics to help you become even more effective.
Topics Discussed
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- Utilizing your team – your whole team
- Your company, your experts – your resources
- Maintaining relationships with key external parties that can be your secret weapon
- Building key connections– who, how, and when?
- Making critical decisions timely
- Translating data analytics into what matters
- Knowing when to delegate
- Gaining knowledge efficiently
- Deciphering what to learn
- Determining the questions to ask
- Becoming the Chief Value Officer
- Communicating what drives value
- Understanding risk
- Utilizing your team – your whole team
Objectives: Understand how to look at the requirements of the modern-day CFO differently and how to be an effective leader in your organization.
Cases and Group Discussion
This seminar includes two (2) case studies for group discussion.
Prerequisite: At least six (6) months of professional financial statement analysis experience, or at least six (6) credit hours of corporate finance classwork at an accredited university.
Measuring and Reporting – ESG and Sustainability
2 Accounting credits
ESG broadly covers many of the non-financial issues every organization faces. The use of ESG as a term however conjures images to many of tree-huggers protecting rare species at the expense of jobs and growth, requirements that well-qualified candidates are not hired or passed over for promotion because they do not meet “diversity standards” and that companies are constrained by restrictive laws and regulations from conducting their business.
ESG is not about limiting growth or profitability. It is about measuring non-financial information and using that information to make companies more efficient and more profitable.
ESG is not a fad that will go away but a method of viewing our organizations so that they can be better and more profitable.
Topics Discussed
- Defining sustainability
- Environmental risks and opportunities: How your organization deals with natural resources
- Social risks and opportunities: How your organization deals with people
- Governance risks and Opportunities: How your organization deals with laws, regulations, and controls
- Defining and measuring environmental, social and governance metrics (ESG)
- Reporting on ESG metrics and your organization’s efforts
Objectives: To better understand how identifying and defining environmental, social, and governmental efforts within an organization and measuring and reporting on those efforts will make their organizations more efficient and profitable.
Cases and Group Discussion
This seminar includes four (4) case studies for group discussion.
Prerequisite: At least six (6) months of professional financial statement analysis experience. Prior management and leadership experience will be helpful.
Target Audience: Any professional interested in more about the challenges and opportunities in identifying and defining environmental, social and governmental efforts within their organization and measuring and reporting on those efforts to make their organization more efficient and profitable Corporate financial managers, business owners, entrepreneurs and professionals who advise them, especially those with audit/risk responsibility, Corporate Financial Leaders, CEOs, CFOs, Controllers, Accountants, and Board members. CPAs in public practice and CPAs in industry.
Level of Knowledge: Intermediate
CPE Credit: 4 Business Management and Organization, 2 Accounting and 2 Finance
Advanced Prep: None
Acronym: CFOS4-24
Vendor: The Knowledge Institute, LLC
Discussion Leaders: Robert Angell, MS, CPA; Robert Berry, CPA; Gary Cokins, MBA, CPIM; Steve Boussom, CPA; Richard A. Karwic, MBA; Anita Layton, CPA, CMA, MBA; Brian Maturi, MBA, FCA; Bob Mims, CPA; Don Minges, MBA
