CFO Series: Advanced Profit Enhancements

Overview

You could pay $0 for this course!
This qualifies for reimbursement through the State Workforce Training Express Fund. Firms/companies with fewer than 100 staff will receive 100% reimbusement, and firms/companies with over 100 staff will receive 50% reimbursement. You must register for this course and apply for reimbursement through the Workforce Training Express Fund website three weeks in advance to be eligible. The course code for this program is C-8899. To learn more click here or contact Julia Ekelund at jekelund@mscpaonline.org.

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.

Tactics to Improve Bottom Line: 1st Improve ROI
2 Finance credits
What do investors want? They actively pursue three key strategies; 1) improve profit (most over used strategy), 2) reduce investment (an under used strategy), and 3) reduce risk (a much-neglected strategy). In this the first of three sessions, see 1) above, we will explore successful strategies to improve pricing, increase volume, and reduce risk. We will discuss proven techniques to help your organization thrive.

Tactics to Reduce Investment: 2nd Strategy ROI
2 Finance credits
What do investors want? They actively pursue three key strategies; 1) improve profit (most over used strategy), 2) reduce investment (an under used strategy), and 3) reduce risk (a much-neglected strategy). In this second of three sessions, see 2) above, we will explore strategies to improve asset utilization and reduce investment. We will discuss proven techniques to help your organization thrive.

Tactics to Reduce Risk: 3rd Strategy to Help ROI
2 Auditing credits
What do investors want? They actively pursue three key strategies; 1) improve profit (most over used strategy), 2) reduce investment (an under used strategy), and 3) reduce risk (a much-neglected strategy). In this third of three sessions, see 3) above, we will explore strategies to reduce risk. When risks are exhibited on the income statement – it is too late. Risk is silent and insidious. We must plan, as we have seen what happens when risk becomes real and reduces net income. We will discuss proven techniques to help your organization plan for risk before the next miscalculation. Be prepared!

Bridging the Gap with Marketing Management: The Four Ps
2 Business Management & Organization credits
What should we know about marketing and what are the four ‘P’s of marketing? Many financial leaders are not sufficiently knowledgeable about the marketing function, marketing management, and measuring marketing results. When we know more, both functions can work collaboratively to help drive a superior bottom line. We can more accurately measure success, for example, in order to approve a cost-effective strategy to maintain and grow the business organically. We will discuss proven techniques to help your organization grow and thrive. Finance and marketing can and should help each other – we will show you how.

Highlights

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 o 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

Prerequisites

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.

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