15 min listen
Zero Based Budgeting: What is it and Why Should You Care? w/ Adanma Akujieze
FromCFO Weekly
ratings:
Length:
24 minutes
Released:
Sep 29, 2020
Format:
Podcast episode
Description
We’re all familiar with the yearly rounds of budgeting within our companies. But how often are we really looking at the WAY that we are budgeting? So often, the budgeting process is simply looking at the prior year’s budget, adding a little bit of inflation room onto it, and moving forward, never really stopping to sit back and ask ourselves WHY we are spending the dollars that we are. And if the COVD-19 pandemic has taught us anything, it’s that we can likely make do without a lot of the things that we were spending an awful lot of money on before the pandemic hit. Things like travel, entertainment, being more intentional about where we’re spending technology dollars. Which is why this week’s guest is the perfect person to address what is known as “Zero Based Budgeting,” or ZBB. Adanma Akujieze is the Chief Financial Officer at Larson Design Group, and has been instrumental in adapting the ZBB method on her team. She was kind enough to sit down and discuss: -What is ZBB and why should you care about it? -The advantages of ZBB during and after the pandemic -How to make ZBB work for you -How you may be implementing the ZBB mindset without even knowing it. For more interviews from the CFO Weekly podcast, check us out on Apple or Spotify or your favorite podcast player! Presented by Personiv
Released:
Sep 29, 2020
Format:
Podcast episode
Titles in the series (100)
Putting Profit First: Why It's the Bookkeeper's Responsibility w/ Andrew Royer: I love a fresh tube of toothpaste. You put a ton of it on that toothbrush, and you don't care because you've got a full tube of toothpaste. But after a while, that tube isn't full anymore, so you roll it up, scrunch it, and try to get the tiniest little bit on that toothbrush. Metaphorically speaking, that's what happens when you put profit last in your business. On this episode of the CFO Weekly podcast, Andrew Royer, a CPA, a certified general accountant, and a bookkeeper discusses why we should be putting profit first. What we talked about with Andrew: -The differences between accounting and bookkeeping -What led Andrew to the profit first model and how he knew it was he had been looking for all along -How external events topple companies more focused on revenue than profit -...And how to make your business more profitable! Brought to you by Personiv! For more interviews from the CFO Weekly podcast, che by CFO Weekly