This four-topic event focuses on skills that will help you and your organization enhance your planning skills, improve innovation to thrive, provide two newer metrics to improve decision making, and accounting for lean.
This day of the CFO Series will focus on these four topics
- Strategy & Implementation, Foundations for Success
- Best Practices EVA/RCE: Metrics to Gauge Real Performance
- Innovation for Continued Success: Sustaining the Organization
- Accounting for Lean & Agile: Staying in Step with Lean Operations
This event is also part of ISCPA's 2023 CFO Series, designed to provide a convenient, one-stop way for senior level financial managers and executives, CFOs and those who aspire to be CFOs, to choose multiple days 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.
This CFO Day:
- To go beyond the abstract discussion of strategy, focusing on identifying attackable market segments and aligning the organization for success.
- To understand the weaknesses of GAAP as a financial performance measure and to propose alternative approaches.
- To understand why innovation is vital to long term success and to understand our key role in creating an innovative organization.
- Determine the needs of those who use financial reports and focus on better metrics that our users can understand and use to make informed business decisions.
- This day provides extensive case study analysis and many opportunities for group discussion.
This stand-alone event is also part of the 2023 ISCPA CFO Series, which is designed:
- With the needs of CFOs and senior financial managers in mind and is geared towards enhancing the skills you rely on.
- To provide Financial managers and CFOs with ideas which will improve their company's business processes.
- To make planning your 2023 CPE quick and easy - all 40 CPE credits in one convenient package!
- Registering for the entire series saves you up to $425! Click here to save
Does your business have an effective strategy? If you do - how well has it been implemented? This seminar will focus on developing an effective strategy and more importantly on effectively implementing the strategy so that everyone in the organization, from top to bottom, is aligned and working towards its overall success. Organizations that succeed are not accidents, they are not lucky. Every successful organization plans well and executes their strategic plan well. Come and learn how.
- Effective strategies to compete in today's world
- Cost leadership
- Finding niches
- Defining the market properly
- Effective market segmentation
- Market positioning and targeting
- Aligning the organization
- Managing risk
Objective: To go beyond the abstract discussion of strategy, focusing on identifying attackable market segments and aligning the organization for success.Session 2: Best Practices EVA/RCE: Metrics to Gauge Real Performance
How much profit is enough? Answering this question requires an understanding of the true risk involved and what the market requires of investments of similar risk. Learn why GAAP accounting measures can lead you astray when trying to evaluate the true economic performance of an enterprise. The measurement of economic costs and revenues requires the inclusion of opportunity costs that GAAP does not measure. The seminar looks at how this required return is established and provides hands-on guidance on two state of the art techniques for measuring true economic profit. If you are in leadership, or want to be, this seminar will provide practical, new insights.
- Why EPS, ROS, ROA, and ROCE fail
- Why can thinking like an economist be helpful?
- What is the cost of capital?
- Going beyond the weighted average cost of capital (WACC) to its fundamental principles.
- The importance of asset utilization
- Economic value added as a performance measure
- Latest developments in EVA; EVA margin, EVA Momentum and Residual Cash Earnings
Objectives: To understand the weaknesses of GAAP as a financial performance measure and to propose alternative approaches.
Session 3: Innovation for Continued Success: Sustaining the Organization
Disruptive innovation has ended many businesses and led others to take their place. Learn why previously successful companies failed to innovate. We will discuss the four types of innovation that can lead to success. We will learn why and how our expectations can help or hinder innovation. We will discuss strategies to encourage innovation and how an enterprise can structure its activities to foster innovation. Successful organizations thrive, while organizations that do not innovate are on the path leading elsewhere.
- Consequences of failing to innovate
- What do innovative companies have in common?
- Four types of Innovation
- Clayton Christensen's view of innovation
- How does accounting impact innovation?
- Strategies for successful innovation
- Structuring an organization to create and benefit from innovation
Objectives: To understand why innovation is vital to long term success and to understand our key role in creating an innovative organization.Session 4: Accounting for Lean & Agile: Staying in Step with Lean Operations
The plodding accounting conventions of yesterday can inhibit the quickly adapting operations of today. As business processes become faster, scheduling, inventory management, and data collection must change to reflect your organization's new reality. This session will help you adapt your accounting methods as the world is changing around you.
- What are 'agile' and 'lean'?
- How 'lean' is different from traditional practices
- Are we doing too much or doing too little?
- Quantifying the benefits of lean
- Practical application of lean concepts in an accounting department
- Learn how to see accounting output from the users' perspective
- Gain insights into making your department more efficient
- What are the key concepts of lean?
- How do they apply to accounting?
- Creating a culture of continuous improvement
Objectives: Determine the needs of those who use financial reports and focus on better metrics that our users can understand and use to make informed business decisions.
- If you did not purchase a printed manual, download it from your upcoming events in "My CPE" on website, and bring it with you
- If you did purchase a printed manual and would also like an electronic copy be sure to download it
- Review ISCPA Parking Map - found in your email confirmation
Robert A. Angell III, MS, CPA, is Senior Lecturer at Brandeis University, President of Angell Ventures and member of Launchpad Venture Group. An experienced CFO and COO with a public accounting background, Rob held senior executive positions at several high growth public and privately-owned companies. He started his career at Ernst & Young, leaving there as a Senior Manager. A graduate of Brown University, Rob earned his MS in accounting from NYU's Stern School of Business.