August 13, 2024

Live Webcast

NYSED 8
•
NASBA 8

CFO Series: Advanced Profit Enhancements Webinar

August 13, 2024
Live Webcast
NYSED 8
•
NASBA 8

  • Instructor

    Robert
    Berry

  • Introduction to the three levers – Income, Asset Utilization, and Risk.
  • Cost control
  • Waste elimination
  • Lean, Total Quality Management, and Six Sigma
  • Simplification – A case study in how complexity is an insidious profit killer
  • Activity based costing
  • Understanding what drives cost and how to control cost
  • Accounting practices that are antithetical to good cost control
  • Getting the message across and generating action
  • Where are the good ideas buried?
  • Increasing volume
  • How effective is your advertising and promotion?
  • What is your unique selling proposition?
  • Are you stifling innovation?
  • Pricing
  • Pricing for value not cost recovery
  • Understanding competition
  • Looking for the ‘blue ocean’ opportunity
  • Cost of capital
  • What do investors want?
  • What does my capital really cost?
  • How can we approximate the cost?
  • Utilizing the Du Pont Formula in a discounted cash flow world
  • Increasing asset utilization
  • What should we do, and what should we allow others to do?
  • Buying the right equipment at the right price
  • Increasing throughput
  • Complexity – the capacity thief
  • Process choices
  • Should we automate?
  • Lease or purchase
  • Impact of automation on risk and return
  • Why is risk relevant?
  • What do investors want?
  • How do statisticians look at risk?
  • How do economists look at risk?
  • Prospect theory
  • Your risk profile
  • Risk appetite
  • Risk tolerance
  • How do you monitor risk?
  • Heat maps
  • Risk is everyone’s job.
  • Managing risk
  • Avoid,
  • Transfer,
  • Mitigate, or
  • Accept
  • What is the function of Marketing?
  • Creating demand, building reputation
  • Inform and educate customers and potential customers.
  • Marketing plans
  • What must be in a top-quality plan?
  • Coordination with strategy and financial ability 1 – Products and services
  • Why do customers buy, or not buy, your offerings?
  • Core products, actual products, augmented products 2 – Price
  • Pricing is market driven, not cost driven!
  • Cost leaders vs differentiators
  • When to increase price when to reduce price 3 – Place or channels
  • Effective and efficient channels
  • Alternative channels 4 – Promotion
  • Promotion alternatives and cost effectiveness
  • Coordinating the 4Ps to gain maximum results

Learning Objectives

  • Understanding the issues that drive the bottom line and discovering ways to make improvement happen. Learn more about pricing for profitability, cost control and increasing throughput
  • Understanding the issues that drive asset utilization and discovering ways to make improvement happen. Learn more about the cost of capital, asset utilization, and choosing an appropriate process
  • Understanding the issues that drive risk, why it matters, and discovering ways to make improvement happen.
  • Understanding four components of marketing. How finance and marketing can work collaboratively to drive superior financial performance.

Major Topics

  • Introduction to the three levers – Income, Asset Utilization, and Risk.
  • Cost control
  • Waste elimination
  • Lean, Total Quality Management, and Six Sigma
  • Simplification – A case study in how complexity is an insidious profit killer
  • Activity based costing
  • Understanding what drives cost and how to control cost
  • Accounting practices that are antithetical to good cost control
  • Getting the message across and generating action
  • Where are the good ideas buried?
  • Increasing volume
  • How effective is your advertising and promotion?
  • What is your unique selling proposition?
  • Are you stifling innovation?
  • Pricing
  • Pricing for value not cost recovery
  • Understanding competition
  • Looking for the ‘blue ocean’ opportunity
  • Cost of capital
  • What do investors want?
  • What does my capital really cost?
  • How can we approximate the cost?
  • Utilizing the Du Pont Formula in a discounted cash flow world
  • Increasing asset utilization
  • What should we do, and what should we allow others to do?
  • Buying the right equipment at the right price
  • Increasing throughput
  • Complexity – the capacity thief
  • Process choices
  • Should we automate?
  • Lease or purchase
  • Impact of automation on risk and return
  • Why is risk relevant?
  • What do investors want?
  • How do statisticians look at risk?
  • How do economists look at risk?
  • Prospect theory
  • Your risk profile
  • Risk appetite
  • Risk tolerance
  • How do you monitor risk?
  • Heat maps
  • Risk is everyone’s job.
  • Managing risk
  • Avoid,
  • Transfer,
  • Mitigate, or
  • Accept
  • What is the function of Marketing?
  • Creating demand, building reputation
  • Inform and educate customers and potential customers.
  • Marketing plans
  • What must be in a top-quality plan?
  • Coordination with strategy and financial ability 1 – Products and services
  • Why do customers buy, or not buy, your offerings?
  • Core products, actual products, augmented products 2 – Price
  • Pricing is market driven, not cost driven!
  • Cost leaders vs differentiators
  • When to increase price when to reduce price 3 – Place or channels
  • Effective and efficient channels
  • Alternative channels 4 – Promotion
  • Promotion alternatives and cost effectiveness
  • Coordinating the 4Ps to gain maximum results

CPE Credits Available

NYSED 8
NASBA 8
6
Advisory Services (NYSED) - NYSED
2
Auditing (NASBA) - NASBA
2
Auditing (NYSED) - NYSED
2
Bus. Management & Org. (NASBA) - NASBA
4
Finance (NASBA) - NASBA

Things to Know About This Course

Course Level

  • Intermediate

Professional Area of Focus

  • Advisory Services (NYSED)
  • Auditing (NASBA)
  • Auditing (NYSED)
  • Bus. Management & Org. (NASBA)
  • Finance (NASBA)

Prerequisites

At least six (6) months of professional financial statement analysis experience and a strong working knowledge of marketing and/or business development

Advanced Preparation

At least six (6) months of professional financial statement analysis experience and a strong working knowledge of marketing and/or business development

Intended Audience

Corporate Financial Leaders, Corporate Financial Managers, CEOs, CFOs, Controllers, Accountants, Board members, advisors, and Consultants. CPAs in public practice and CPAs in industry. Business owners, entrepreneurs and professionals who are interested in enhancing the bottom line by working in a collaborative, effective partnership with the marketing function.

Provider

The Knowledge Institute

This event has ended.