STARK RAVINGS
The Newsletter of the IMA Canton Chapter

September  2016

 http://canton.imanet.org

Jeff Walters, President
Cullen Bahler, Editor

In this issue:

This Month's Technical Sessions

Free Report: Preparing Your Company for Change and Disruption

Webinar Schedule

IMA Technical Sessions

Connect with Us!

Do you have info to share with our chapter? Email it to news@cantonima.org.

If you wish a colleague to receive these announcements, send an email to news@cantonima.org and we will add them to our announcement list.

Please join Us!

Student Night | September 27 |  5:00 - 8:00 pm
Malone University, Brehme Centennial Center, 2600 Cleveland Ave NW, Canton, OH 44709 (directions)

Reservation Deadline: Friday, September 23

Pre-Dinner Technical Session (5:00 - 6:00 pm)
Risk Management
Presented by Taku Kopp, The J.M. Smucker Company

After-Dinner Technical Session (7:00 - 8:00 pm)
Financial Perspectives from the CFO of a High Growth Company
Presented by Catherine Sackett, Chief Financial Officer, Patriot Software Company

click here for more information about the speakers

click here to register

 

ACCA and IMA: Preparing Your Company for Change and Disruption

According to Innovation and ERM: partners in managing the waves of disruption, a new report released by ACCA (Association of Chartered Certified Accountants) and IMA® (Institute of Management Accountants), companies must regularly and systematically consider emerging risks to fueling innovation.

  • Traditional thinking about strategy has become less relevant as a wave of disruption accelerates the pace of business. The report highlights key ways that enterprise risk management (ERM) can be successfully tied to strategy and innovation, including:

  • Interpreting disruptive waves: By incorporating risk-sensing tools, companies can more easily predict and respond to waves of disruption.

  • Rethinking strategy and tools: With tools that enhance understanding of risk, companies can develop and alter key assets to combat changes in the external environment.

  • Innovating business models: When responding to risk, it’s important for businesses to not only innovate in their fields, but also consider business model innovations.

In the accounting and finance profession specifically, understanding risk is a key to successfully divert a company from failure to success. As a result, there is growing pressure for accountants to develop business-risk acumen on top of their financial expertise.

“Financial professionals are typically risk averse but need to expand their comfort level to become true strategic players,” said Raef Lawson, Ph.D., CMA, CPA, vice president of Research and Policy at IMA. “CFOs and future finance professionals need to have a mind shift from accounting and control to a focus on the drivers of value in the business.”

ERM does not only enable a company to innovate but can also protect it from the downside of innovation. Companies that do new and strategic things to create their own wave of disruption must also manage the associated risk and uncertainty. This requires a different approach that captures new thinking and new risk tools.

“Innovating without knowing the associated risk is a primary reason for failure in business,” said Faye Chua, head of Business Insights at ACCA. “Being proactive in planning against unforeseen challenges paves the way to succeed in times of uncertainty.”

This report is a product of the strategic partnership between ACCA and IMA, focusing on research studying the future of the global accounting profession.

click here for more information and to download the full report

Webinar Schedule

You will earn CMA and CPE credits when you attend any live webinar. Replay webinars are available in the archive but do not earn credits. Advance registration is recommended—IMA webinars are popular and fill up quickly.

Virtual Finance Forum
September 15, 2016
12:00 - 3:00 pm EDT

Tech Talk Mondays: Get Your Tech On – Technology Trends to Watch
September 19, 2016
1:00-2:30 pm EDT

T&E Expense Spending and Automation Technology Trends for 2016
September 21, 2016
1:00-2:00 pm EDT

GForces@Work: Understanding the Perceived Shift of Gen Y in the Workplace
September 28, 2016
1:00-2:00 pm EDT

Register

Hire Right the First Time
September 13, 2016
1:00-2:30 pm EDT

Register

 

Mark Your Calendar:
Join Us at IMA Technical Sessions

2016-2017 tech sessions will be held at Kozmo's Grille with the exceptions noted below. There are two hour-long sessions beginning at 5:00 and 7:00 and dinner in between.

  • September 27
  • October 18
  • November 15
  • December 20
  • January 17
 

Cost for dinner is $30 regardless of the location. Please look for invite emails with registration information prior to each meeting.

Schedule:

• Social/Networking at 4:45 pm

• Pre-Dinner Technical Session at 5:00

• Dinner at 6:00 pm

• Post-Dinner Technical Session at 7:00 pm

More info: http://canton.imanet.org

 


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info@cantonima.org


The mission of the Institute of Management Accountants (IMA) is to provide a forum for research, practice development, education, knowledge sharing, and the advocacy of the highest ethical and best business practices in management accounting and finance. Please join us as we promote this mission in the greater Canton, Ohio, area.


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