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.
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 (eg, the balanced scorecard, incentive compensation, risk management, supply chain management)
- The shift from historical reporting to predictive accounting (eg, marginal / incremental costing; rolling financial forecasts, performance-based and driver-based budgeting, customer lifetime value [CLV] )
- Imbedding analytics into managerial accounting (eg, correlation and segmentation analysis, recursive partitioning with decision trees)
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
Gary Cokins is an internationally recognized expert, speaker, and author in enterprise and corporate performance management improvement methods and business analytics. He is the founder of Analytics-Based Performance Management, an advisory firm located in Cary, North Carolina at www.garycokins.com . Gary received a BS degree with honors in Industrial Engineering/Operations Research from Cornell University in 1971. He received his MBA with honors from Northwestern University’s Kellogg School of Management in 1974.
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