Loading Events
This event has passed.

Cost Cutting: Improving Your Profits (LIVESTREAM) (LIAA12/22)

Event Description

Part of one’s duty as a CPA working in industry is to safeguard the assets of the organization.  Cost cutting is one way to preserve assets and maintain a company’s competitive position in the industry.  However, what keeps us from ridding our organizations of unnecessary costs?  In this course, we will look at the factors that prevent our companies from being as streamlined as they could be.  By using statistics and survey data, we will attempt to show how to better negotiate and navigate budgeting and contracting decisions.  We will also discuss financial statement analysis techniques, benchmarking, and cash flow management in an effort to better cut costs and maintain the long-run viability of an organization.

Designed For

CFO’s and Controllers looking to improve their bottom line by streamlining expenses.

Objectives

  • List behavioral biases that prevent companies from being streamlined
  • Identify techniques that may be used to make cost cutting a part of the company’s culture and business strategy
  • Describe techniques that may be used to discern whether or not additional headcount is necessary
  • Demonstrate vertical and horizontal financial statement analysis techniques
  • List key considerations when benchmarking against competitors
  • Describe contracting and negotiation techniques 
  • Discuss the business cycle and how cash flow management changes during each stage

Major Subjects

  • How companies become expense heavy and inefficient
  • How to deal with behavioral finance biases and change resistant mindsets
  • Tying expenses to business strategy and company culture
  • Measuring headcount and navigating hiring decisions
  • Dealing with budgeting techniques & variance exceptions
  • Key considerations when benchmarking
  • Vertical and horizontal analysis
  • Contracting & negotiation techniques
  • Cash flow and the business cycle