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Pareto’s 80/20 rule for corporate accountants – better practices from winning finance teams

Home > Workshops > Topics > Pareto’s 80/20 rule for corporate accountants – better practices from winning finance teams

As accountants we are all aware of Pareto’s principle, but unfortunately seldom apply it. Why is it that we spend months on an annual planning process that we know is flawed? Why is it we spend many days preparing a monthly report that is informing management well and truly after the horse has bolted? Why do we produce a 30+ page finance report for the senior management team? Do I need to give more examples?

This workshop is based around the principle that, as corporate accountants, we need to spend more time in the 20% of issues that really matter and be more efficient with the time we spend on the 80% of issues that don’t matter.

Around the world some exceptional corporate accountants have questioned the status quo and implemented practices that have revolutionised the value the corporate accounting team can generate. These practices have been incorporated in this workshop and accompanying book.

This workshop equips controllers, CFOs, management and financial accountants to radically transform their contribution to their organizations, maximize their job satisfaction and profile, and leave a legacy of efficiency and effectiveness in every organization for which they work.

Attend one or both sessions. Priority will be given to those attendees/organisations attending the full day.

Morning session: Improvements that can be achieved in the next 6 months

(accounts payable, accounts receivable, decision based reporting, timely month-end reporting, timely annual reporting, an annual budget in two weeks, cash flow forecasting, managing the accounting team, marketing the accounting team, improving client management, working smarter not longer, maximising the use of the GL)

Afternoon session: Strategic areas to focus on once the easier improvements have freed up time

(quarterly rolling forecasting, replacing the annual planning process with quarterly rolling planning, daily and weekly reports that make a difference, replacing Excel with robust tools, the systems to invest in for maximum benefit, implementing a planning tools - the lessons to learn, developing winning KPIs, making balanced scorecards work, better use of the intranet)

Target audience

• Finance Director, CFO or Financial Controllers and all corporate accountants in all sectors
• Consultants and practitioners who offer services to corporate accountants

Benefits of attending

Upon attending you will have:

• a sound understanding of the critical success factors for a “winning finance team”
• an in-depth understanding of how to complete month-end reports by 3 working days, annual accounts inside 15 working days, and the annual plan in two weeks
• over twenty reporting templates for daily, weekly and monthly reporting
• checklists, workshop agendas, useful memos and timeframes for the various implementations covered in the course
• an understanding of how to process re-engineer using “post-it” stickers
• an insight on how to sell change to the Board, Senior Management, and Budget holders
• and a copy of “Pareto’s 80/20 Rule for Corporate Accountants” by David Parmenter will be provided to all attendees at registration on the day