PACE Moments

In this podcast, we interviewed Varun Jain, Co-Founder and CEO of Miles Education. Varun founded Miles Education to help create opportunities for others, like he had for himself, and create a talent pool for many big public accounting firms that hire many people in India focusing on building the talent supply chain of CPAs, CMAs. There is a huge shortage of accountants in the workforce, especially in the USA, which Miles Education is hoping to improve with talent from India. we also spoke about other subjects such as the use of the Profitability Analytics Framework, and trends for the remainder of 2023.

In this podcast we interviewed Edward Roske who is the CPO (Chief Performance Officer) for Argano worldwide. We talked about how much Argano has grown by acquisition as well as organically all over the world, trends that he sees for 2023, how Argano is using the Profitability Analytics Framework at Argano, the 7 step method they are using to implement it, and how revenue management is very important to Argano's business model. Edward has written/co-written more than a dozed books, is a well known and entertaining speaker, and has visited 72 Countries (so far) and consulted in most of them helping organizations with Enterprise Performance Management.

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The capital preservation allowance thought experiment? What's that?

We all know that the depreciation expense on an income statement measures the decline in the value of a firm’s fixed assets during the period, and the amount which needs to be replaced over time to maintain the firm’s productive capacity, right? WRONG! While depreciation expense may be a useful concept for external financial reporting, it fails completely when applied to managerial cost information used to support internal decision making. Doug Hicks leads us through an interesting thought experiment involving a family-owned business that needs to maintain its productive capabilities for future generations.

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In this podcast we interviewed Asif Masani who is a Financial Planning and Analysis Manager for Coursera in India. We talked about how the Profitability Analytics Framework supports work in FP&A, trends that Asif sees for FP&A going forward, his new book "All About FP&A", and how he is working toward his goal of helping 1 million people learn about and master FP&A. 

To learn more on this and other subjects, visit the PACE website and follow our LinkedIn page and Twitter page.

In this podcast, we interview Prashanth H Southekal, PhD, MBA, ICD.D who leads the Data Analytics interest Group for PACE and also recently published his 3rd book “Data Quality: Empowering Businesses With Analytics And AI”. We talked about how Business Analytics and AI support accounting and finance, where he sees them going in the future, how the Profitability Analytics Framework is supported by Business Analytics and AI, and got some sage advice from Prashanth's business journey to date.   Please check out more content at www.profitability-analytics.com

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Anders Liu-Lindberg is a co-founder of the Business Partnering Institute and social media influencer. In this episode we find out why becoming a business partner is so important for finance now, where he sees the future of the profession going, and how the PACE Profitability Analytics Framework supports business partnering for finance so well. If, as a finance professional, you find yourself frustrated and running from reporting period to reporting period, this podcast is for you. Anders talks about breaking free of that cycle now and for the future by becoming a business partner. 

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To learn more about business partnering or to contact Anders Liu-Lindberg, visit their website

Many of our PACE Forum podcasts have a recurring message: To nudge, and more strongly push, CFOs and accountants to get out of the 1960s and into the 21st century by applying and using progressive management accounting methods. The problem begins with the imbalance of emphasis of external statutory and compliance financial reporting for government regulatory agencies (e.g., the USA’s SEC) dominating over internal management accounting. The purpose of the former is for “valuation” (e.g., inventories, cost of goods sold) whereas the latter’s purpose is for “creating financial value” for shareholders and owners by providing insights for better decisions. Learn more in this podcast from Gary Cokins.

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Management accounting has been very methodology focused since the advent of Activity Based Costing, now almost 50 years ago. Profitability Analytics focuses on principles and deep understanding. Understanding principles guides you to an effective methodology for your organization. Money is generally a lagging indicator for revenue, cost, and investment performance. A central tenant of the IMA Conceptual Framework for Managerial Costing and the Profitability Analytics Framework is that an effective, causal cost model is an operational model (of resources and processes) that is costed.  Going straight to a cost model creates a severe disconnect from reality, understanding, and useability. Larry White discusses this topic. 

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Management accounting should enthusiastically embrace the concept of professional optimism!  It is truly a differentiator within the accounting profession. Business needs accountants who focus on creating possibilities and designing new solutions.  Larry White discusses how the change in the International Code of Ethics for Professional Accountants (published by the International Federation of Accountants and the International Ethics Standards Board for Accountants) affected professional optimism.

To learn more on this and other subjects, visit the PACE website and follow our LinkedIn page and Twitter page.