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Key deadlines

Conference starts:

2017-02-07

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Conference Description

Overview: Management accounting practices have become increasingly progressive since the 1980s. What are the trends? They include channel and customer profitability reporting, integration of enterprise performance management methods(e.g.strategy maps, balanced scorecard), driver-based rolling financial forecasts, applying analytics, and co-existing methods(e.g.lean accounting).Accounting professionals need mastery with these. Ultimately costing principles, such as the causality principle,must be converted into practical practices with supporting tools.

This presentation examines how cost modeling has evolved over the last century. It will describe the trends and obstacles that have helped or delayed developments. Finance and accounting professional are typically considered to be very quantitative. They are by nature number-crunchers. But collecting, validating, and reporting data is not the same thing as analyzing the information that can be gleaned from data. Most organizations are drowning in data, but starving for information. The CFO function is experiencing a shift from beyond financial reporting to dealing with and reporting non-financial information. Finance people are increasingly involved with creating and monitoring performance measurements. But do they know how to identify the appropriate measures? Their task should not be about what can be measured but what should be measured. And don't stop there. This is not about just monitoring the dials of a scorecard or dashboard, but moving the dials. The decisions involved to improve performance require analytics of all flavors.

Most companies are far from where they want and need to be when it comes to implementing analytics and are still relying on gut feeling, rather than hard data, when making decisions. Volatility and complexity are the new normal.

Areas Covered in the Session:

The expansion from product costing to include channel and customer profitability reporting and analysis.
The integration of managerial accounting with other enterprise and corporate performance management (EPM/CPM) methods (e.g., the balanced scorecard, incentive
compensation, risk management, supply chain management)
The shift from historical reporting to predictive accounting (e.g., marginal / incremental costing; rolling financial forecasts, performance-based and driver-based budgeting, customer lifetime value [CLV] )
Imbedding analytics into managerial accounting (e.g., correlation and segmentation analysis, recursive partitioning with decision trees)
Acceptance of two or more co-existing managerial accounting methods
Chargebacks to internal users and service level agreements of information technology (IT) and shared services.
Recognition of barriers slowing the adoption rate of advanced managerial accounting (e.g., resistance to change,being held accountable, weak leadership) to gain buy-in.

Who Will Benefit:

CFO,Financial controller,Accounting Staff
CIO and Information Technology Staff
Strategic and Business Planning
Marketing and Sales Managers
Budget Managers
Risk Managers

Instructor:
Gary Cokins is an internationally recognized expert, speaker, and author in enterprise and corporate performance management improvement methods and business analytics.

Contact Details:
NetZealous LLC, DBA TrainHR
Phone: +1-800-385-1627
Email: support@trainhr.com