When an organization fails, it is usually due to several factors. These often result from a number of undetected, poor practices that infect and grow throughout the entire organization. They can include a lack of understanding of costs, poor asset allocation, systems that support the status quo, failure to identify risk, tunnel vision by management, and so on. Often, management will repeat poor practices across the enterprise. For example, do you think a so-called "budgeting crisis" is normally due to the budget, or actually hidden, existing problems that were uncovered due to the budgeting process* This course demonstrates the use of practices and techniques specifically designed to assist CPAs and other financial professionals in adding value to their company through improved decision-making, cost management, understanding business cycles, managing continuous improvements, cash management, and risk management. Examples of actions by both successful and failed organizations are used throughout the session.
Learning Objectives
Identify and correct practices that can negatively impact an organization. Determine and measure cost drivers and trends. Recall how to navigate an organization through the business cycle. Apply and manage a variety of improvement programs. Apply cash management activities and consolidate them into an organization's plans. Identify and identify how to manage risk throughout the enterprise.
Major Topics
Techniques and ideas to establish and maintain an effective organization Examples of successful and failed companies as a source of learning Identification of broad measures that provide insights into the direction of the economy Practical ideas to improve forecasting Framework and methods to uncover and manage risk
