CFO Series Day 5 - Creating a Competitive Advantage
491 | Course | Update | Scheduled
Day 5 of the CFO Series focuses on competition. Every organization has competition, but some perform better than others. The best have two secrets; 1) they know what is profitable, and 2) they have a clear strategy. This event will cover how these two skills can dramatically improve financial performance.
A Live Stream version of this event is available here.
|Number of Credits||Type of Credits|
|4.00||Business Management & Organization|
Creating Competitive Advantage
Boards are increasingly looking to CFOs to participate in, if not drive, corporate strategy. Most financial professionals can identify a strategy that provides a competitive advantage when they see one but may not know where to look for it. In this session, a veteran CFO will lead you through the strategy development process and then show you how to turn your organization's search for competitive advantage into reality.
Three things can happen in pricing, and two of them are bad. Overpriced products are a missed opportunity, whereas underpriced products give away your products at a loss. When sales and accounting personnel fail to work together, the company risks becoming its industry's "dumb" competitor. Accountants involved in pricing can help the company understand the difference between "dog" and "gravy" opportunities with knowledge that directly translates into an improved profitability. You will leave this session understanding why the company with the best cost information wins!
Contemporary Cost Concepts
Bad cost analysis leads to bad decision making. Traditional cost accounting provides the average cost of an average product, produced in an average volume and sold to an average customer. Traditional techniques can be disastrously inaccurate when trying to understand products that are not average in every way. This session explains activity-based costing and why it gives your company a competitive advantage.
Cost and Pricing Models: Creating an Effective Tool
If sales increase, so should profits. Yet, the opposite result often leaves executives scratching their heads. When organizations work with inferior cost information, they make mistakes in four specific situations. Bad information causes sellers to overprice easy, high-volume work and underprice difficult, low-volume work.
This session discusses how to use activity-based costing data to build accurate costing models that consider far more than just the labor and materials necessary to provide goods and services.
- Member (Early Bird)
- Non-Member (Early Bird)
John L. Daly, MBA, CPA, CMA, CPIM
John L. Daly, MBA, CPA, CMA, CPIM, has been a professional speaker since 1995. He seeks to make every session lively, informative and fun using a combination of case discussion, lecture and peer-to-peer interaction. John has presented in 46 states and 5 provinces on topics that include Accounting, Finance, Management, Software and Ethics. He began presenting ethics two weeks before the Enron scandal broke. John has been CFO for a Tier 1 automotive parts supplier and a large restaurant chain and COO for a window treatments manufacturer and retailer. He is the author of Pricing for Profitability, published by Wiley & Sons, as well as numerous professional articles.Back to Instructors