As financial leaders, CPAs are often tasked with managing organizational risk. In this respect, the supplier relationship can be a tricky one. It is often one of the more familiar and comfortable business relationships we have, yet it may also be the one that presents the most significant risk to our company. In this course, we will explore how to manage the supplier relationship from onboarding to termination. Through case studies and best practices, we will discuss how to continue being a good partner to our suppliers while also understanding where potential risks exist. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Learning Objectives
After attending this presentation you will be able to...
- Recall the difference between a forecast and a budget
- Identify the difference between top-down and bottom-up budgeting
- State the key elements of a flexible budgeting approach
- Identify key cost drivers
- State how behavioral biases may affect the budgeting process
- Identify how headcount efficiency may be measured
- Determine scenario planning
- Recognize best practices and controls for managing budget changes
Major Topics
The major topics that will be covered in this course include:
- Overview of supplier contracts
- Case studies of successful and not-so-successful supplier relationships
- Risk potentials
