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Surgent’s Improving Your Profits: Identifying Cost Cutting Opportunities (SU0214/24)

Member Price $92
Non-Member Price $104
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February 20, 2025 @ 2:00 pm - 4:00 pm

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

CPAs, CFOs, and Controllers looking to improve profitability by streamlining expenses for their own organization or for their clients

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 additional headcount is necessary Demonstrate vertical and horizontal financial statement analysis 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

What keeps companies from becoming streamlined?  Behavioral biases Information processing biases Emotional biases How to deal with behavioral biases  Connecting behavioral biases to cost cutting Creating a culture of cost cutting Rules of thumb for cost cutting  Managing headcount Post-COVID common areas of excess cost Budgeting techniques Budget variances Benchmarking Common size financial statements Horizontal analysis Negotiation and contracting techniques Cash flow and the business cycle

Prerequisites

Basic knowledge of budgeting

Instructions

None

Details

Date:
February 20, 2025
Time:
2:00 pm - 4:00 pm
Credit:
2 Credits

Other

Credit Hours
2
Max Registrations
0
Course Type
Webinar
Course Level
1