The New Controllership
-
Upload
joseph-rugger-cpa-cgma-mpa -
Category
Business
-
view
17 -
download
1
Transcript of The New Controllership
![Page 1: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/1.jpg)
1 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
The New Controllership: Keys to Boosting
Corporate PerformanceBaton Rouge Louisiana12.9.2014
Presented by:Joseph M. Rugger, CPA, CGMA
![Page 2: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/2.jpg)
2 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
The New Controllership: Keys to Boosting Corporate PerformanceChapter Title
Introduction
1 The New Style Organization
2 Leadership vs. Management
3 Hiring the Right People
4 Personality Types
5 Employee Motivation
6Leading People in the Organization of the Future
![Page 3: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/3.jpg)
3 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Chapter Title
7Planning and Budgeting in the Organization of the Future
8 Risk Management
9Customer Service and Efficiency in the Accounting Department
10 Benchmarking, Ratios, and Controls
11 Cash and Debt Management
12 Welcome to the Cloud
The New Controllership: Keys to Boosting Corporate Performance (continued)
![Page 4: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/4.jpg)
4 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
The New Controllership: Keys to Boosting Corporate Performance (continued)
Chapter Title
13 Negotiation Skills for Financial Professionals
14 Self-Management
![Page 5: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/5.jpg)
5 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Introductions
![Page 6: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/6.jpg)
6 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
• BRAMMS• “Remember that a person’s name is to that
person the sweetest and most important sound in any language.” Dale Carnegie, How to Win Friends and Influence People
• Name - a way to remember• What do you do?
![Page 7: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/7.jpg)
7 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 8: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/8.jpg)
8 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
How the Seminar Works
• From General to Specific• Technical and Managerial• Participative not Lecture
![Page 9: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/9.jpg)
9 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
The Old and the New
• Contract• Expect to be frustrated
![Page 10: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/10.jpg)
10 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Exercise 2
• List Successful Organizations• List Unsuccessful Organizations• What is the difference
![Page 11: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/11.jpg)
11 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Chapter 1
The New Style Organization
![Page 12: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/12.jpg)
12 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Old Style Organization
• Organization Structure• Mostly Manufacturing• Immigrant Labor Force• Status is Key• Narrow Job Descriptions and Salary Ranges• Decisions Made at the Top• Obedience not Creativity
![Page 13: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/13.jpg)
13 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Old Style Organization Title
• Rules and Regulations• Risk Aversion• Competition for Power• Formal Communications• Low Trust• Unhappy Employees
![Page 14: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/14.jpg)
14 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
New Style Organization
• Team Structure• Service Organization• Diversified Labor Force• Less Unionization• Less Status• Wide Job Descriptions and Salary Ranges• Team Decisions• Creativity Is Highly Valued
![Page 15: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/15.jpg)
15 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
New Style Organization (Continued)
• Principles not Rules• Risk Management• Everyone on the Same Page• High Trust• Happy Employees
![Page 16: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/16.jpg)
16 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
What Type ofOrganization Is Yours?
![Page 17: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/17.jpg)
17 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Common Questions
• What Type of Organizations trend toward Old and New?
• Can we have a New Style department in an Old Style Organization?
• What if I don’t want to change?
![Page 18: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/18.jpg)
18 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Chapter 2
Leadership vs. Management
![Page 19: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/19.jpg)
19 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Profiles in Leadership
• Think of someone you consider to be a great leader• Can be living or dead, famous or a professional
acquaintance• What is it about them that makes them a great
leader?
![Page 20: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/20.jpg)
20 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
1. Model the Way
2. Inspire a Shared Vision
3. Challenge the Process
4. Enable Others to Act
5. Encourage the Heart
The 5 Practices of Exemplary Leadership
By: Jim Kouzes & Barry Posmer
![Page 21: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/21.jpg)
21 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 22: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/22.jpg)
22 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Key Concept
• To be Successful, any Organization only has to do Two Things.
• What are They?
![Page 23: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/23.jpg)
23 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Serve the Customer Well
![Page 24: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/24.jpg)
24 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Do It Efficiently
![Page 25: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/25.jpg)
25 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Another Key Concept
• If you want an Exceptional Organization, you have to have Exceptional People.
• “No Bozos” Steve Jobs
![Page 26: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/26.jpg)
26 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Management and Leadership• We Manage Things• We Lead People
![Page 27: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/27.jpg)
27 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Old vs. New
• Old Style Organization – Management• New Style Organization – Leadership
![Page 28: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/28.jpg)
28 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Management Style
• Managers – Autocratic• Leaders – Collaborative
![Page 29: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/29.jpg)
29 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Team
• Managers have Subordinates• Leaders have Followers
![Page 30: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/30.jpg)
30 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Direction
• Managing is Pushing• Leading is Pulling
![Page 31: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/31.jpg)
31 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Control
• Managers Control• Leaders Trust
![Page 32: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/32.jpg)
32 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 33: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/33.jpg)
33 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Direction
• Managers Go with the Status Quo• Leaders Challenge the Status Quo
![Page 34: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/34.jpg)
34 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Teams
• Managers Staff• Leaders Align
![Page 35: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/35.jpg)
35 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Characteristics of Leaders
• Servant Attitude• Coaching Ability• Self-confidence• Creativity• Empathy• Vision• Inspiration
![Page 36: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/36.jpg)
36 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Characteristics of Leaders (Continued)
• Long and Short-term Balance• Build Trust Through Consistency• Share Authority• Share Credit• Take the Blame
![Page 37: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/37.jpg)
37 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
• Jim Collins – Good to Great – Why do some companies make the leap and others don’t
• Level 5 Leaders – Windows and Mirrors
• The Bus• Confront the brutal facts• Hedgehog Concept• 3 Circles – culture of self discipline, technology as an accelerator and not as a change agent, the flywheel
![Page 38: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/38.jpg)
38 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Chapter 3
Hiring the Right People
![Page 39: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/39.jpg)
39 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Technical Skills
• Computer skills• Tax/financial knowledge• Accuracy• Numbers skills
Often Determined by• Experience• Education
![Page 40: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/40.jpg)
40 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
People Skills
• Self-less• Life-long Learner• Enthusiasm• Social Maturity• Team Player• Creative• Trustworthy
![Page 41: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/41.jpg)
41 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
People Skills (Continued)
• Innovative• Brave• Ethical
![Page 42: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/42.jpg)
42 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Which Is Most Important?
• Old vs. New Style Organization?• What do you think?
![Page 43: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/43.jpg)
43 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Which Is Easier to Train?
• Technical Skills• People Skills
![Page 44: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/44.jpg)
44 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
For Which Do We Hire?
![Page 45: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/45.jpg)
45 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Why Do We Make the Mistake?
• Easier• Less Risk of Being Sued• Faster Process• Narrow Job Descriptions
![Page 46: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/46.jpg)
46 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
How to Hire for Both
• Determine the Technical Skills• Make the first cut on Technical Skills• Interview only based on People Skills• Make Final Decision on People Skills
![Page 47: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/47.jpg)
47 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Who Makes the Decision?
• Management?• Team?• Both?• Why?
![Page 48: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/48.jpg)
48 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
• EntreLeadership by Dave Ramsey• Practical How to Business Guide• Most business problems are people
problems• Spend more time on Hiring• Developing KRA’s for every position• Creating a vision for your team• Passion beats almost anything –
especially talent• Treat other people the way you want
to be treated• Must listen to the podcast!
![Page 49: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/49.jpg)
49 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Case Studies in Interviewing
• Why?• Who Writes?• Who Listens?• Written or Verbal?
![Page 50: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/50.jpg)
50 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
4 Big Buzzwords Today
• Persistence– Steve Jobs – “this is garbage”
• Execution– Deliver Results
• Creativity– Creative problem solver
• Resourcefulness– We aren’t going to throw more money at the
issue
![Page 51: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/51.jpg)
51 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 52: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/52.jpg)
52 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
• David Letterman’s Top 10– http://www.youtube.com/watch?feature=endscree
n&NR=1&v=1Ihn-TIFPAM
![Page 53: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/53.jpg)
53 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Chapter 4
Personality Types
![Page 54: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/54.jpg)
54 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Social-Style Model
• Used with permission
![Page 55: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/55.jpg)
55 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Steps to the Process
• Observe behavior• Predict SOCIAL STYLE• Predict behavior
![Page 56: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/56.jpg)
56 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Assertiveness
• Mainly Speed• Fast Decisions• Fast Talking• Fast Walking
![Page 57: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/57.jpg)
57 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Responsiveness
• Show/Control Emotion• People vs. Task• Closed vs. Open
![Page 58: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/58.jpg)
58 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 59: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/59.jpg)
59 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Describe the Styles
• Driving• Expressive• Analytic• Amiable
![Page 60: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/60.jpg)
60 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Versatility
• The Ability to Adapt• The Key to Success
![Page 61: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/61.jpg)
61 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Strengths and Weaknesses
• Driver• Expressive• Analytic• Amiable
![Page 62: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/62.jpg)
62 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 63: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/63.jpg)
63 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 64: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/64.jpg)
64 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
• Google’s CEO on Group Think:– http://www.youtube.com/watch?v=wPHL4paHv0o
![Page 65: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/65.jpg)
65 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Chapter 5
Employee Motivation
![Page 66: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/66.jpg)
66 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
• Gung Ho! By Ken Blanchard & Sheldon Bowles
• Lesson of the Squirrel – worthwhile work
• Lesson of the Beaver – in control of achieving the goal
• Lesson of the Goose – cheering each other on
• Great read on creating culture
![Page 67: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/67.jpg)
67 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
The Old Way
• The carrot and the stick– Bribery and Fear
![Page 68: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/68.jpg)
68 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Is Fair the Same as Equal?
• Old Way• New Way
![Page 69: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/69.jpg)
69 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
What’s the Way to Measure?
• Inputs• Outputs
![Page 70: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/70.jpg)
70 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Commissions
• Sales• Gross Profit• Gross Profit – Past due• Gross Profit – Past due – T&E
![Page 71: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/71.jpg)
71 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Profit-Sharing Systems
• Qualifying• Team Centered or Gain Share
![Page 72: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/72.jpg)
72 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Autonomy as a Motivator
• Flexible Work Arrangements– Working from Home– Job Sharing– Flexible Hours– Contract Labor Arrangements– Tele-commuting
![Page 73: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/73.jpg)
73 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
What’s Needed for Autonomy?
• Metrics• Trust
![Page 74: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/74.jpg)
74 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Mastery
• What is it?• How to Achieve it?
![Page 75: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/75.jpg)
75 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Relevance
• What is it?• How to Achieve it?
![Page 76: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/76.jpg)
76 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Managing the Millennial Generation
• Born in 1982 – 2004 • Largest generation• Inc Magazine’s 6 Keys
1. Over communicate all the time
2. Go heavy on the rewards and punishments
3. Set the Quality Bar High – especially writing skills
4. Keep accountability consistent and crystal clear
5. Be willing to meet halfway – display vulnerability
6. Help them focus on the big picture
![Page 77: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/77.jpg)
77 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
2 Great Reads for Millennials
• Jon Acuff – Start – Go from Average to Awesome– https://www.youtube.com/watch?
v=AYH4EVYmV3Y
• Christine Hassler – The Twenty Something Manifesto
![Page 78: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/78.jpg)
78 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
• The 5 Languages of Appreciation in the Workplace by Gary Chapman
1. Words of Affirmation2. Tangible Gifts3. Quality Time4. Acts of Service5. Physical Touch
• We all want to be appreciated in different ways
• Handwritten thank you notes• Restaurant gift cards• Email to the boss bragging on a team
member
![Page 79: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/79.jpg)
79 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Chapter 6
Leading People in the Organization of the Future
![Page 80: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/80.jpg)
80 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
• Start with Why by Simon Sinek• People don’t buy what you do, they buy why you do it• MLK “I have a plan”• If you hire people just to do a job they will work for money• If you hire people who believe what you believe, they will work for
you with blood sweat and tears• Don’t sell the drill or the drill bit, sell the hole•
http://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action.html
![Page 81: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/81.jpg)
81 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
From HR to CLO
• New positions in the organization of the future– CLO– Coach
![Page 82: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/82.jpg)
82 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 83: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/83.jpg)
83 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Steps in Problem Solving
• Define the Problem• Determine Problem Ownership• Measure the Problem• Set the Goal• Determine Root Causes• Select the Best Strategy
![Page 84: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/84.jpg)
84 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Steps in Problem Solving (Continued)
• Implement• Evaluate Results• Implement Changes• Continuous Improvement• Celebrate
![Page 85: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/85.jpg)
85 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
When Termination Is Needed
• Economic reasons– How not to do it
• Early retirement and buyouts
![Page 86: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/86.jpg)
86 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Terminate for Cause
• The Employee’s Decision
![Page 87: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/87.jpg)
87 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Balanced Scorecard
• Finance• Operational• Learning• Customer service
![Page 88: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/88.jpg)
88 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Who Chooses Metrics
• Team • Individual
![Page 89: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/89.jpg)
89 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Team Metrics
• Agree on Outcomes• Select Metrics• Dry Run• Collaborate on Success or Failure• Implement System
![Page 90: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/90.jpg)
90 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Individual Metrics
• Agree on Outcomes• Select Metrics• Dry Run• Collaborate • Implement
![Page 91: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/91.jpg)
91 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Happy Employees
• Why bother?– Customer Service– Efficiency
![Page 92: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/92.jpg)
92 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
How to Know
• Surveys– Benchmarking
• Over time• Different departments• Different companies
![Page 93: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/93.jpg)
93 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
What Causes Happiness?
• Money • Autonomy• Mastery• Relevance
![Page 94: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/94.jpg)
94 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
• The One Minute Manager by Ken Blanchard & Spencer Johnson
• Management and Leadership 101• Not just automatic – it is not just
the numbers• Not just democratic – it is not just
about the people• As leaders we are concerned with
both• One Minute Goals – clear
expectations• One Minute Praising – catch
people doing something right• One Minute Reprimands –
reprimand sandwich – no annual review surprises
![Page 95: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/95.jpg)
95 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Chapter 7
Planning and Budgeting in the Organization of the Future
![Page 96: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/96.jpg)
96 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
What’s the Difference?
• Planning is Financial• Budgeting is Political
![Page 97: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/97.jpg)
97 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Why Have a Budget?
• Old Style– Prevent overspending
• New Style– Part of the plan
![Page 98: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/98.jpg)
98 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Vision
• Where do we want to end up?
![Page 99: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/99.jpg)
99 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Mission
• How are we going to get there?
![Page 100: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/100.jpg)
100 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Core Values
• To what do we hold dear?
![Page 101: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/101.jpg)
101 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Core Values Example
Source – Florida State Employees Federal Credit Union
![Page 102: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/102.jpg)
102 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
VMV
• Keeps everyone on the same page• Prevents divided loyalties
![Page 103: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/103.jpg)
103 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
VMV for the Team
• For your department– Where do you want to be?– How are you going to get there?– What are the key values?
![Page 104: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/104.jpg)
104 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Business Plan
• Find a Need• Put Together an Organization• Solve the Need • Economic Fashion
![Page 105: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/105.jpg)
105 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Strategic Plan
• What is our Business?• Who are our Customers?• What will be our Business?• Who will be our Customers?
![Page 106: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/106.jpg)
106 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Strategic Plan (Continued)
• What should be our Business?• Who should be our Customers?• How will those Customers Determine Value?
![Page 107: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/107.jpg)
107 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 108: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/108.jpg)
108 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Five-Year Plan
• Annual Plan• Monthly Plan• Cash Plan
![Page 109: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/109.jpg)
109 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Planning and Budgeting
• The plan is not to– Motivate,– Control Expenses,– Increase Sales, or– Give Permission to Spend Money.
• Negative Behavior from each of these?
![Page 110: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/110.jpg)
110 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Sales Forecasting
• Experts• Crowd Sourcing
![Page 111: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/111.jpg)
111 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 112: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/112.jpg)
112 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
• When I grow up
http://www.youtube.com/watch?v=Asf3Q85MS1U
![Page 113: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/113.jpg)
113 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Chapter 8
Risk Management
![Page 114: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/114.jpg)
114 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
• How the Mighty Fall by Jim Collins• Hubris and arrogance born of
success• Undisciplined pursuit of more• Denial of risk & peril• Grasping for salvation • Capitulation to irrelevance or death
![Page 115: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/115.jpg)
115 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
What Is ERM?
• From the Organizational Perspective• Different from being handled at the Department
Level
![Page 116: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/116.jpg)
116 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Why Have ERM
• Reduce Earnings Volatility• Maximize Shareholder Value• Promote Job and Financial Security
![Page 117: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/117.jpg)
117 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Limitations of ERM
• Given too much confidence
![Page 118: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/118.jpg)
118 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Components of ERM
• Corporate Governance for Structures• Risk Strategy
![Page 119: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/119.jpg)
119 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 120: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/120.jpg)
120 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Identify Risks
• Who knows best?• External risks
– Natural Causes– Economic– Other?
• Internal– Processes
![Page 121: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/121.jpg)
121 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Causes of Risks
• Values of Benchmarking– Economic
• What is Sustainable?
![Page 122: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/122.jpg)
122 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Measure the Risk
• How big a Problem?
![Page 123: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/123.jpg)
123 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Controls and Mitigations
• Insurance• Hedging• Other
![Page 124: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/124.jpg)
124 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Contingency Planning
• Loss of Management• Natural Disaster• Fire• Loss of Life• Serious Accident• Hazardous Materials Spills• Terrorist Attack• Other
![Page 125: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/125.jpg)
125 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Lessons Learned in ERM
• Know the Business• Checks and Balances• Keep your eye on the Cash• Use the right Yardstick• Pay for the Performance you want
![Page 126: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/126.jpg)
126 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
• Stephen Covey, 7 Habits
• Quit operating in Quad I
• Emotional bank account
• Deposits & Withdrawals
• Sharpen the saw
![Page 127: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/127.jpg)
127 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Chapter 9
Customer Service and Efficiency in the
Accounting Department
![Page 128: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/128.jpg)
128 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
What Is Our Business?
• Provide Information• Maintain Controls
![Page 129: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/129.jpg)
129 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Who Are Not Our Customers?
• Auditors• Regulators• State and Federal Tax Departments• They are Stakeholders not Customers
![Page 130: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/130.jpg)
130 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Who Are The Customers?
• External• Internal
– Senior Management• How do we add value?
– Operating Departments• Marketing and Sales departments• Other Operating departments
• How do the Customers Determine Value?
![Page 131: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/131.jpg)
131 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Value of Customer Analysis
• Average Ticket• Gross Profit• Number of Tickets per Year• Number of Years• Referrals
![Page 132: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/132.jpg)
132 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Ways to Efficiency
• Which is better?– Have to– Want to
![Page 133: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/133.jpg)
133 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Incentives for Non-Efficiency
• Salary Ranges and Levels• Budgets• Fear
![Page 134: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/134.jpg)
134 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Continuous Improvement System
• Make a List• Measure• Discuss the Process• Consider Best Practices• Utility of present System• Automate the right Areas• Spreadsheet Audit• Measure Progress
![Page 135: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/135.jpg)
135 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Case Study 9-1
• Learning Points?
![Page 136: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/136.jpg)
136 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Body Language Test
• http://www.youtube.com/watch?v=gpiUohPPyks&feature=related
![Page 137: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/137.jpg)
137 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Chapter 10
Benchmarking, Ratios, and Controls
![Page 138: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/138.jpg)
138 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
KPI
• What is your most important Competitive Advantage?
• How do you Measure it?
![Page 139: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/139.jpg)
139 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Benchmarking
• Internal
![Page 140: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/140.jpg)
140 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 141: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/141.jpg)
141 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 142: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/142.jpg)
142 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Benchmarking and Politics
• Inputs or Outputs?• Who Decides?
![Page 143: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/143.jpg)
143 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Competitive Benchmarking
• Where to get Data?– Trade Groups– RMA
![Page 144: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/144.jpg)
144 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Functional Benchmarking
• By Process• Best Practices
![Page 145: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/145.jpg)
145 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Debt Ratios
• Debt/Net Worth• Debt/Total Assets
![Page 146: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/146.jpg)
146 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Liquidity Ratios
• Current• Quick
![Page 147: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/147.jpg)
147 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Profit Ratios
• ROI• ROA
![Page 148: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/148.jpg)
148 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Gross Margin
![Page 149: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/149.jpg)
149 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Debt Coverage
• Net income + non-cash/debt service requirement• Net income – interest + non-cash/ debt service-
interest
![Page 150: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/150.jpg)
150 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Growth Ratios
• Trading ratio• Fixed assets/net worth• Why are these important?
![Page 151: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/151.jpg)
151 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Balance Sheet Health
• A/R Turnover• Inventory Turnover
![Page 152: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/152.jpg)
152 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Expense Control
• Non-interest Operating Expenses/Sales• Breakdown of different Expenses
![Page 153: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/153.jpg)
153 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Fraud Discovery
• Ratio Analysis examples• Benchmarking
![Page 154: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/154.jpg)
154 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Ratios and Sustainability
• Fringes/Salaries• Other?
![Page 155: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/155.jpg)
155 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Chapter 11
Cash and Debt Management
![Page 156: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/156.jpg)
156 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Value of Money
• Long Term• Short Term
![Page 157: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/157.jpg)
157 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Speeding Receipts
• Lockbox• Pre-authorized debits• ACH debits• Website Payments
![Page 158: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/158.jpg)
158 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Check 21
• History• Death of float
![Page 159: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/159.jpg)
159 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Paying for Bank Services
• Soft Funds• Hard Funds• New Developments
– Regulation Q– Remote Item Capture– Treasury Management / ACH Services
![Page 160: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/160.jpg)
160 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Top Strategies
• Minimize or Eliminate Fees• Focus on Demand Planning• Expand Payment Cycles• Improve Bank Relationships• Streamline Processes• ACH Transactions and Auto Payment• Look at Credit Terms• Check Short-term Investment Strategy
![Page 161: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/161.jpg)
161 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
New Trends
• Industrial Strength Connectivity• Banking Web Services• Reports out, Actionable Analytics in• Banks implementing Digital Signatures
![Page 162: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/162.jpg)
162 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Current Credit Markets
• Tight Lending• Rates Trending Up
![Page 163: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/163.jpg)
163 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 164: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/164.jpg)
164 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 165: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/165.jpg)
165 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Negotiating
• Character• Cash Flow• Capital• Collateral
![Page 166: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/166.jpg)
166 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 167: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/167.jpg)
167 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 168: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/168.jpg)
168 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Loan Price
• Fees• Rates• Balances
![Page 169: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/169.jpg)
169 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Where:
Y = Yield to the bank
A = Amount
R = Rate
F = Fee
B = Balances kept in bank
U = Usage of the line of credit
![Page 170: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/170.jpg)
170 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 171: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/171.jpg)
171 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
30 second commercial on communication: http://www.youtube.com/watch?v=nhe0KSGoUgc
![Page 172: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/172.jpg)
172 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Chapter 12
Welcome to the Cloud
![Page 173: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/173.jpg)
173 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Different Clouds
• Public• Community• Hybrid• Private
![Page 174: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/174.jpg)
174 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Advantages
• Cost• Access• Upgrades• Innovation • Ease of use• Ease of reports
![Page 175: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/175.jpg)
175 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Disadvantages
• Security• Privacy• Customization• Compliance
![Page 176: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/176.jpg)
176 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
How to Plan
• Talk with IT– Why might they be negative?
• Talk with Operating Departments
![Page 177: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/177.jpg)
177 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Chapter 13
Negotiation Skills for Financial Professionals
![Page 178: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/178.jpg)
178 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
• Hard Line Negotiator• http://www.youtube.com/watch?v=2qsa66AqXTo
![Page 179: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/179.jpg)
179 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Two Ways
• Power Negotiation• Common-goal negotiation
![Page 180: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/180.jpg)
180 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 181: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/181.jpg)
181 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 182: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/182.jpg)
182 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Tricks of Power
• Good-cop, Bad-cop• Deception• New Lowest Offer • Another Decision Maker
![Page 183: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/183.jpg)
183 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Steps of Common-Goal Negotiation
• #1 Research– Needs– Wants – Worst-case
• #2 Where to negotiate & what tools are needed
![Page 184: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/184.jpg)
184 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 185: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/185.jpg)
185 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Presenting the Problem
• #3 Problem Ownership– I’ve got a problem– We’ve got a problem– You’ve got a problem
• Which is better and why?
![Page 186: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/186.jpg)
186 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
#4 Explore Goals
• Yours• Other Party’s• Look for common goals
![Page 187: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/187.jpg)
187 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
![Page 188: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/188.jpg)
188 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
#5 Brainstorm Solutions
• Don’t Judge• Make sure to have some easy toss-outs• Be ready to negotiate from this list
![Page 189: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/189.jpg)
189 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
#6 Cross Off
• That’s why we need some easy ones to eliminate• Take turns
![Page 190: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/190.jpg)
190 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
#7 Narrow to a Few Choices
• This is where the real negotiation happens
![Page 191: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/191.jpg)
191 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
#8 Agree on Solutions
• Final part of the real negotiation
![Page 192: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/192.jpg)
192 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Final Steps
• #9 Agree on Accountability• #10 Follow-up
![Page 193: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/193.jpg)
193 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
• Ramit Sethi on salary negotiation:• http://privatelist.findyourdreamjob.com/how-to-get-a
-raise-including-the-exact-words-to-use/
![Page 194: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/194.jpg)
194 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Chapter 14
Self-Management
![Page 195: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/195.jpg)
195 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
• Take the Stairs by Rory Vaden• Success is a choice that is as simple as
deciding to take the stairs• Paradox Principle of Sacrifice – Short Term vs
Long Term• Creation Principle of Integrity – You think it, you
speak it, you act it, it happens• Rent Concept – “Success is not owned, it is
rented, and the rent is due everyday.”
![Page 196: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/196.jpg)
196 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Your Choices
• Change You• Change the Company• Leave for another Organization• Make no Changes
![Page 197: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/197.jpg)
197 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Your Goals
• Become more Valuable• Read• Become more creative• Work on the business, not in the Business• Be an Innovator• Delegate more
![Page 198: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/198.jpg)
198 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
Getting Things Done
• David Allen• Capture• Clarify• Organize
![Page 199: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/199.jpg)
199 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
20 Things the Rich Do Every Day by Thomas Corley1. 70% of wealthy eat less than 300 junk food calories per
day. 97% of poor people eat more than 300 junk food calories per day. 23% of wealthy gamble. 52% of poor people gamble.
2. 80% of wealthy are focused on accomplishing some single goal. Only 12% of the poor do this.
3. 76% of wealthy exercise aerobically 4 days a week. 23% of poor do this.
4. 63% of wealthy listen to audio books during commute to work vs. 5% for poor people.
5. 81% of wealthy maintain a to-do list vs. 19% for poor.6. 63% of wealthy parents make their children read 2 or
more non-fiction books a month vs. 3% for poor.7. 70% of wealthy parents make their children volunteer 10
hours or more a month vs. 3% for poor.8. 80% of wealthy make happy birthday calls vs. 11% of poor9. 67% of wealthy write down their goals vs. 17% for poor10. 88% of wealthy read 30 minutes or more each day for
education or career reasons vs 2% for poor.
![Page 200: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/200.jpg)
200 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
20 Things the Rich Do Every Day (ctd)11. 6% of wealthy say what’s on their mind vs. 69% for poor.12. 79% of wealthy network 5 hours or more each month vs.
16% for poor.13. 67% of wealthy watch 1 hour or less of TV. every day vs.
23% for poor14. 6% of wealthy watch reality TV vs. 78% for poor.15. 44% of wealthy wake up 3 hours before work starts vs.3%
for poor.16. 74% of wealthy teach good daily success habits to their
children vs. 1% for poor.17. 84% of wealthy believe good habits create opportunity
luck vs. 4% for poor.18. 76% of wealthy believe bad habits create detrimental luck
vs. 9% for poor.19. 86% of wealthy believe in life-long educational self-
improvement vs. 5% for poor.20. 86% of wealthy love to read vs. 26% for poor.
![Page 201: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/201.jpg)
201 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
3 Key “Take-
Aways”
Thank you for being here!Questions?
![Page 202: The New Controllership](https://reader038.fdocuments.us/reader038/viewer/2022103004/55d36eaabb61ebbe1b8b45e0/html5/thumbnails/202.jpg)
202 Copyright 2014–2015 AICPA Unauthorized Copying Prohibited AICPA Professional Development
The New Controllership: Keys to Boosting
Corporate Performance
Thank you for attending!