CFO - Chief Reviewer

NEW EVENT

This presentation focuses on one key role we all share - being a reviewer. Every financial professional must review. We review; processes, systems, test results, performance, taxes, financials, timelines, and progress. The spotlight is to enhance our skills as a reviewer. Are we great at listening, and asking the right questions? We will also discuss a high-level overview of taxation and the newer skills needed to be an effective financial leader. At every level, we are responsible for reviewing and improving ourselves, a responsibility that never ends. We cannot fall behind in an ever-changing, dynamic environment. Technology is always moving forward, just as we should.

This day of the CFO Series will focus on these four topics

• Aren't We All Auditors? All the Time
• Audits Begin with The Right Questions: Listen!
• What We Can Do to Minimize Taxes: Without Danger
• Successful System Implementations: Planning!

This event is part of ISCPA's 2024 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 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.
• 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.
• Maximizing your skills when fulfilling your responsibilities to account for tax in your organization(s) and successfully navigating the diverse paths to minimize taxes.
• To understand best practices in effective system implementation and explore the pitfalls to avoid.
• This day provides extensive case study analysis and many opportunities for group discussion.

This stand-alone event is also part of the 2024 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 2024 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

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.On-going world economic trends

• The need to think before we react
  • Look and listen effectively
  • Evaluate using multiple different criteria
  • Communicate
  • Problem solving, not just problem identification
  • Demonstrate empathy
  • Think critically, and not be critical
  • Recommend
• Being skeptical without being cynical
• Unconventional keys to success
• The never-ending need to audit continuously

Objectives:

1. To more fully grasp that our role is to constantly review, listen and examine - both in our professional life and personal life.
2. To create a deeper understanding of the value of our auditing skills. 

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!

• 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:

1. To understand why listening skills are crucial for all leaders and for any professional who audits others' work.
2. 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.

Session 3: What We Can Do to Minimize Taxes: Without Danger  

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.

• 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:

1. Fulfilling your responsibilities to account for tax in your organization(s)
2. Successfully navigate the diverse paths to minimize taxes

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.

• 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:

1. To understand best practices in effective system implementation.
2. To discover and learn to avoid various pitfalls.

• Manual
  • 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