CFO Series: Essential Cost Containment

Overview

The CFO Series provides a convenient, one-stop way for CFOs and those who aspire to be CFOs, to earn an entire year of CPE with a single decision, featuring high-quality presentations and an interactive, executive level colleague-to-colleague approach with case studies, group discussions, and team exercises.

Highlights

We all want to make the organization more profitable, but do we do it the best way? Many simply hack away at costs and then repeat the same unwieldy process every eighteen months. Do your internal and external customers truly understand your numbers? There is a better way to communicate financial information, so they DO understand and take the proper actions. Building an effective team always results in improved performance, talent retention and reduces costs. Discuss the ethics of creativity – is creativity good or bad or a mixed bag? Explore how, and specifically what, you can do to rein in costs and get the most from what the organization already has and remains ethical. Learn to become better at controlling the right costs and becoming more successful.

Module 1: Improving Profitability the Right Way: How to Cut the Right Costs

Cost cutting is easy, cutting the right costs is not. Most cost-cutting exercises fail either; by cutting the wrong costs, cutting too much, ignoring interrelated impacts, taking shortcuts, cutting too little or waiting too late. The internal politics are problematic. One key solution is to take sufficient time to plan properly and assess the true goals and objectives. Planning is essential, explore how to cut the right costs correctly and avoid career-killing blunders.

Module 2: Building High Performing Teams: Cohesive Teams Get Results

Teamwork is the ultimate competitive advantage both because it is so powerful and so rare. Why do some teams produce and win, while others fail? What do great team leaders do that makes the team a success? Whether you run the executive staff of a multinational company, a small department within a large organization or even if you are in a small team that needs improvement, explore proven techniques to enhance teamwork. It is not complicated to build a team, but it takes effort.

Module 3: Do Creative Accountants Belong in Prison? True or False?

Creativity is one of the top ten most desirable traits, but should everyone, including accountants, be creative? Are there exceptions? What are the positives and the downsides of creativity? Creativity can be used for good, but creativity can also lead to serious, unethical behaviors. There is a strong relationship between creativity and dishonesty. Review the negative consequences of creativity and how to properly utilize resourcefulness and imagination. Creativity can easily be great or disreputable, learn how to make it work for you – and be ethical.

Module 4: Storytelling Your Financials for Impact: Narrative Beats Numbers

Data alone does not drive decisions- stories do. Financial professionals must go beyond spreadsheets and craft compelling financial narratives that engage boards, CEOs, and team members. Using real-world examples, demonstrate how to frame financial results within a broader business story, drawing insights and communicating tangible meaning - instead of just displaying boring numbers. Learn how to shift from “presenting financials” to telling a story that aligns with strategic goals, inspires confidence, and drives action. Explore the tools to turn financial statements into strategic storytelling assets. Clients do not recall numbers, but they do remember stories.

Prerequisites

Participants should have at least six months of industry or public experience and a thorough knowledge of financial accounting principles and practices. Management experience is helpful.

Designed For

This series is designed for financial leaders, regardless of title, who are, or aspire to be, chief financial officers. Discussions will be geared towards those working in medium-sized organizations.

Objectives

• Understanding how to choose which costs to cut and which not to cut
• Defining the role and purpose of each cost cutting exercise.
• Review non-traditional approaches to cut costs.
• Understanding the symptoms of poor teamwork.
• Appreciating proven techniques to enhance cooperation, trust, communication, listening and teamwork.
• Understanding that the best leaders are unselfish and put the team first.
• Understanding how creativity may lead to unethical actions.
• The relationship between ethics and creativity.
• How to properly utilize creativity in a beneficial manner.
• Understand the benefits of storytelling in financial communication. 
• Identify the elements of telling a story and relating them in a compelling financial narrative and apply these techniques to enhance board and executive presentations.

Notice

Note: This course is a live virtual replay.