Re-Imagine Finance & Accounting



Key Take Away:
Learn Lessons from COVID-19 remote operations to create a new normal post COVID-19 by a complete Re-Imagine of Finance & Accounting-Organization-Processes-Procedures & Controls. Recognize that the business environment will never be the same as pre COVID-19. To survive the Re-Imagine effort is necessary. This Webinar provides essential guidance to help Re-Imagine Finance & Accounting.

 

Overview:
Covid-19 required businesses to destroy traditional norms of operation and resort to a survival mentality. Standard In-House organizations, processes procedures & controls have been replaced by emergency measures, hastily employed to cope with the turbulent economy and environment created by COVID-19. Businesses must take lessons learned from COVID-19 and Re-Imagine Finance & Accounting. This requires more than thinking outside the box. It requires creating a new box i.e. business model. This includes Organization-Processes-Procedures-Controls to create a new normal more effective and productive. Re-Imagine allows companies to streamline organizations & processes to improve productivity & profits.

 

Areas Covered in the Session:
The Re-Imagine Finance & Accounting will include:
Organization:
•  Empowerment of employees
•  Delegation of authority
•  Firmly established accountability
•  Combining remote operations with in-house
•  Streamlining organizations & functions
•  Combining the right people with the right function

 

Processes:
•  Eliminate data-based budgeting based on past assumptions
•  Establish forward-thinking forecasting based on Key Business Drivers
•  Convert Accounts Payable & Cash related functions from document-based to data-based
•  Connect the data dots in seamless fully integrated processes
•  Control Costs/Expenses & cash in real-time

 

Procedures:
•  Create internal clearing-house to monitor all internal processes for timeliness & completeness
•  Ensure all transactions posted to the general ledger in real-time
•  Partition the general ledger to store data for external & internal reporting
•  Provide graphics-based data to internal stakeholders fro planning to reduce the uncertainty of future expectations
•  Use paperless techniques
•  Employ technology to the maximum

 

Controls:
•  Ensure all proesses& procedures meet the established standards for internal controls
•  Prepare audit packages electronically
•  Provide stakeholders with information as required in summary format with the ability for details on-demand as needed
•  Conduct all activities & actions in the new normal with maximum efficiency

Speaker and Presenter Information

Carl Young is an Author, Speaker, Trainer, Consultant, and Coach. He holds an MBA and completed graduate studies in Accounting and Taxation. He is a former CFO of a 275M, high growth technology-based company. He has over 25 years of senior-level business management experience. In addition, he has over 25 years of training experience in finance, accounting, and business management. Former CEO of his own small parts manufacturing company as well as former Senior Financial Associate of a major consulting firm.


Event Type
Webcast


This event has no exhibitor/sponsor opportunities


When
Tue, Sep 22, 2020, 1:00pm - 2:00pm PT


Cost

GW - 7722:  $159.00


Website
Click here to visit event website


Organizer
Global Wizdom


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