CFO CPE Courses For CPAs
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The position of CFO (Chief Financial Officer) has traditionally emerged from senior accounting roles. These roles usually require expertise in corporate finance strategy, cost management, reporting requirements, and accounting standards.
However, these days, CFOs are experiencing significant changes in their responsibilities, thanks to the ever-evolving nature of finance. These changes have made ongoing learning an essential aspect of the CFO role.
If you’re a CPA and working as a CFO, this guide to CFO CPE for CPAs will help you gain some key insights into the value of ongoing learning in your life.
Here’re two key benefits of taking CFO training courses.
· They prepare you to meet the changes
On one end, today’s CFOs face pressure to develop more technology-related capabilities. And another end, they’re being pushed by new business models to improve their comprehension of the enterprise business model, together with the value of their products and/or services.
They now need to understand the way technology can modify the customer experience and open new ways to help the customers meet their needs and then adjust their business models. They should be able to guide the decision-making process encompassing their company’s digital strategy. This also includes the potential impact of present and emerging technologies.
Today’s CFOs also need to understand how to communicate, think critically, solve problems, collaborate, and influence and engage the entire organization.
All these require a diverse range of skill sets and leadership skills, which they can acquire by pursuing CFO CPE for CPAs online or offline.
· They help you find opportunities using technology
The never-ending nature of digital transformation is another key factor emphasizing the need for CFO CPE for CPAs. New methods to meet diverse demands, improve customer service, improve quality, and streamline processes are getting surfaced much faster than earlier.
These days, it has almost become a norm to identify opportunities using technology instead of investing in technology just to keep pace with others. For example, with IoT (Internet of Things) and cloud, it’s possible to deliver advanced technologies quickly and at relatively affordable price points.
All these bring wonderful opportunities for CFOs to expand their knowledge and skills in the field of technology. And pursuing offline or online CFO CPE for CPAs is the best thing CFOs can do to acquire the required skills and leverage technology.
As you can see, today’s finance chiefs need to oversee a lot of critical aspects than just the books. They’re increasingly becoming in charge of enterprise risk management, information technology, and human resources. As a result, organizations are increasingly looking for CPAs who possess strategic skills and have a solid grasp of operations required to be in the CFO role.
By strategically choosing your offline or online CFO CPE programs, you can acquire more focused expertise and prepare yourself to carry out changing responsibilities and meet complex expectations.
Although the exact topics will vary depending on your chosen CFO CPE for CPAs online or in-person programs, they usually cover these topics.
· Strategic planning
· Risk management
· Change management
· Insightful financial analysis
· Balanced scorecard
· Social styles
· Leadership styles
· Development of high-performance employees
Whether you pursue CFO CPE online or in-person, you should be able to master the following things.
· Using an insightful financial assessment to continue what is working and helps to make organizational improvements
· Recognizing the components of an effective strategic planning process
· Devising a risk assessment plan to safeguard your company’s success and minimize its chances of failure
· Identifying the primary leadership styles
· Recognizing the components of an effective retention process
· Determining the method of applying the balanced scorecard to your company’s strategy to achieve success faster and monitor progress
Although CPAs are specifically well-suited for the position of CFOs, you need to develop a wide range of skill sets apart from having a solid grasp of accounting. While it’s important to gain experience in different positions, it’s crucial to choose the right programs when pursuing CFO CPE for CPAs.
Here’re some tips to help you choose the right programs when trying to earn your CFO CPE hours.
· Focus on what’s required within your organization
If you want to move up to the position of the CFO of your company, first, you need to understand the specific requirements of your organization. Often, CFOs’ responsibilities vary from one organization to another. Therefore, it’s a smart idea to see what your organization requires from its CFO and then plan accordingly.
If you’re unsure of the requirements, you can always ask someone from the management team to learn about the responsibilities that your CFO will need to carry out. In case you’re thinking about becoming the CFO of another company, you can speak with its present and former employees.
· Try to acquire both hard and soft skills
These days, you cannot become a successful CFO by mastering either hard or soft skills. You need to have a perfect blend of these two types of skills. So, you should choose your CFO CPE programs keeping this in mind.
Just be sure to recheck the CPE requirements of your state accountancy board. If the state board has some kind of minimum or maximum limits regarding particular fields of study, you must try to follow that. After all, it’s always best to expand your knowledge and earn CFO CPE hours at the same time.
· Think about the big picture
While IT expertise is a vital skill for any CFO, you need to expand your knowledge base beyond that. For example, experience in large business deals and strong managerial skills are two major qualities that many organizations want to have in their CFOs.
While you need to acquire the former through your job experience, that latter can be mastered through CFO CPE online or offline programs. Basically, you need to understand what it’ll take to become a successful CFO one day.
You need to define your short- and long-term professional goals at the beginning of your CFO CPE for CPAs. Although these might change slightly as you go, you’ll have a clear roadmap before you. And as noted above, every time you change the industry or even the company, you should be prepared to work hard and learn several new things.
Of course, you’ll learn some of these things when carrying out your responsibilities. But to master other things, your most reliable option will be strategically chosen CFO CPE online or offline programs.
If you’ve already searched online using something like “CFO CPE for CPAs,” you’ve certainly seen that these programs are available in two main formats: online and offline. While choosing the right mode of learning significantly depends on your personal preferences, pursuing CFO CPE for CPAs online has become the preferred method for many CPAs.
Let’s see the key reasons behind this.
First of all, CFO CPE online programs offer a great deal of flexibility and that cannot be matched by offline programs. Pursuing online CFO CPE for CPAs means being able to internalize the study materials and earn your CFO CPE credits at your own pace. There’ll be no need to rush or slow down to match others’ pace of study, which is a common occurrence with offline programs. You can plan your study schedule the way you want without any outside influence.
Pursuing CFO CPE for CPAs isn’t cheap. These programs are already quite expensive, and choosing a CFO CPE offline program usually makes the cost go up even more. In almost all circumstances, online CFO CPE programs tend to be cheaper than their offline counterparts.
Moreover, with CFO CPE online programs, you get a couple of options to reduce the cost. For instance, by choosing an unlimited subscription plan, you may be able to meet all your CPE requirements, including CFO CPE, at a significantly reduced cost.
· Time savings
This is another major benefit of going with CFO CPE for CPAs online programs. If you need to travel to and from another place to take an offline CFO CPE program, not only will this be inconvenient but time-consuming as well. On the contrary, when you take such a program online, you only need to have a stable Internet connection to access the study materials.
Also, there are CFO CPE online program sponsors, including CPEThink.com, that offer downloadable study materials. Once the materials are downloaded, you won’t even need an Internet connection to go through them.
Now that you know the benefits of choosing online CFO CPE, let’s see why there’s a major shift toward self-study courses. We’ll start with live webinars.
· Live webinars
Attending live webinars is great for those who want to learn in a virtual classroom setting. You get to have your queries immediately answered by the instructor and earn a good number of CFO CPE credits just by attending one webinar. In addition, you don’t need to clear a final exam to earn those credits.
However, there are a few things that you should know before choosing this method. First, live webinars typically tend to be more expensive than self-study courses. Second, they’re held at a pre-scheduled time and date. Therefore, if you cannot attend the webinar, for whatever reason, you’ll miss out on it. You may be able to watch the recorded version later, but you won’t receive any credits for that.
Third, as technical aspects are involved in the process of attending a live webinar, a probability of technical glitches always remains there. Although live webinars don’t require attendees to pass a final exam, they do come with some requirements that you must fulfill.
These include attending the webinar for a particular period of time (for example, fifty minutes in a sixty-minute webinar) and answering a specific number of polling questions to prove your active participation. If you don’t meet one of these requirements, you may not be able to earn any CFO CPE hours for attending the webinar.
· Self-study courses
Unlike live webinars, you can go through the study materials of self-study courses according to your own pace and take the final exam whenever you feel fully prepared. You get the certificate of completion within minutes of clearing the exam. With live webinars, sometimes it may take a week to receive this certificate.
However, no matter which CFO CPE self-study course you take, you must clear the exam with the required passing grade to earn your CFO CPE credits. Depending on your CFO CPE for CPAs sponsor, you may get unlimited attempts to clear the exam, but you must pass it successfully.
If you can study diligently and clear the final exams on time, self-study CFO CPE online programs should be the right for you. One effective method to accomplish this is to create a realistic study schedule right from the beginning and stick to it.
Finally, you should never wait to complete these courses at the eleventh hour. Not only will this create unnecessary stress, but you won’t be able to absorb the concepts thoroughly. You may be able to earn the required CFO CPE hours, but you won’t be able to expand your knowledge and skills, which is equally important.
In addition to self-study courses and live webinars, attending virtual conferences/seminars is also another method to earn CFO CPE credits. You’ll most likely be able to earn a large number of credits by attending just one conference.
However, virtual conferences or seminars are typically the most expensive option out there. As a result, generally, CPAs, who get the cost of their CPE reimbursed by their employers, choose this option. If you too have this opportunity, you can surely go with virtual conferences/seminars.
Ongoing learning has become a necessity for today’s CFOs. New opportunities are being created almost on a regular basis. And to enable you to leverage those opportunities, CFO CPE for CPAs plays an extremely vital role.
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