Self-Study Course Details
In this course, management accounting and performance improvement systems expert, Gary Cokins will discuss how cost modeling has evolved and walk through obstacles and trends in the industry. This course will cover:
- 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 (e.g., the balanced scorecard, incentive compensation, risk management, supply chain management)
- The shift from historical reporting to predictive accounting (e.g., marginal / incremental costing; capacity-sensitive driver-based rolling financial forecasts, performance-based and driver-based budgeting, customer lifetime value [CLV] )
- Imbedding analytics into managerial accounting (e.g., correlation and segmentation analysis, recursive partitioning with decision trees)
- Acceptance of two or more co-existing managerial accounting methods
- Chargebacks to internal users and service level agreements of information technology (IT) and shared services.
- Recognition of barriers slowing the adoption rate of advanced managerial accounting (e.g., resistance to change, being held accountable, weak leadership) to gain buy-in.
- Identify and differentiate strategic KPIs in a balanced scorecard and operational performance indicators (PIs) in dashboards.
- Discover how to perform “predictive accounting” for capacity-sensitive driver-based budgets / rolling financial forecasts, what-if analysis, and outsourcing decisions.
- Recognize how to overcome implementation barriers such as behavioral resistance to change and fear of being held accountable.
Gary Cokins, CEO of "Analytics-Based Performance Management LLC": https://www.garycokins.com is an internationally recognized expert, speaker, and author in advanced cost management and performance improvement systems. He is the founder of Analytics-Based Performance Management, an advisory firm located in Cary, North Carolina. Gary received a BS degree with honors in Industrial Engineering/Operations Research from Cornell University in 1971. He received his MBA from Northwestern University’s Kellogg School of Management in 1974.
Gary began his career as a strategic planner with FMC’s Link-Belt Division and then served as Financial Controller and Operations Manager. In 1981 Gary began his management consulting career first with Deloitte consulting, and then in 1988 with KPMG consulting. 1992 Gary headed the National Cost Management Consulting Services for Electronic Data Systems (EDS) now part of HP. From 1997 until 2012 Gary was in business development with SAS, a leading provider of enterprise performance management and business analytics and intelligence software.
His two most recent books are Performance Management: Finding the Missing Pieces to Close the Intelligence Gap and Performance Management: Integrating Strategy Execution, Methodologies, Risk, and Analytics. His most recent book co-authored with Larry Maisel is Predictive Business Analytics published by John Wiley & Sons.
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