Strategic Costing Models Webinar (FEI Toronto)
- June 24, 2021
As leaders steered their businesses through the first months of the coronavirus pandemic, short-term cost-cutting as a response to a drop in revenues was the first natural reaction. As the socio-economic impacts of the pandemic are expected to extend long into the future, cost reduction measures should be more connected with the company’s long-term strategies.
Finance teams must ensure they create effective costing processes that deliver accurate and actionable results based on the company’s long-term strategy, and account for the expected instability in the global markets. This means that many CFOs will have to go beyond the costing capabilities of their financial/accounting systems and create costing models that will capture end-to-end costs, including overhead allocations and transformational costs, as well as built-in scenario analysis capabilities testing material and process changes, production planning and job quoting, changes in market pricing, as well as start and stop costs caused by potential work interruptions.
Join Sapling Financial Consultants Inc. for an interactive discussion aimed at introducing best practices for designing an adaptable costing model, focusing on examples from several areas:
– The services industries, and costing to a project budget
– The manufacturing industry and product costing processes
– Agriculture and costing of biological assets
- Rob Hong, CEO & Co-Founder, Sapling Financial Consultants Inc.