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TRG Blog

CFOs and finance professionals: Time to change the way you work

Posted by Cuong Nguyen on

“It’s an increasingly complex world” (Accenture, 2012)

Today, economic turmoil and volatility are dominant and the roles of CFOs and senior finance managers are changing. Thus, it’s critical that CFOs are able to:

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Topics: Planning and Budgeting, CFOs, Financial consolidation, planning and reporting, Financial Accounting Management Software, TRG International, TRG Events

How technology can help you with IFRS adoption

Posted by Rick Yvanovich on

In our view, companies are best served when they take an integrated approach to build an IFRS framework. Toward that end, they need a fully integrated solution ideal for supporting the IFRS adoption. A key element is the ability of enterprise applications to work in conjunction with financial management ones to meet a wide range of accounting requirements and processes mandated by the International Financial Reporting Standards. 

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Topics: Planning and Budgeting, Infor CPM, Corporate Performance Management CPM, Financial consolidation, planning and reporting

Actions to improve business performance

Posted by Rick Yvanovich on

When Aberdeen Group conducted a study in 2011, they identified three classes of performance in corporate financial planning, budgeting and forecasting: Best-in-class, industry average and laggard. The research group outlined steps to help companies improve their performance, regardless of their current class.

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Topics: Planning and Budgeting, Corporate Performance Management CPM, Financial consolidation, planning and reporting, Enterprise Performance Management (EPM)

The process for building IFRS framework

Posted by Rick Yvanovich on

Adopting IFRS alongside VAS requires technical, strategic, and operational changes. There also will be an unavoidable impact on information technology (IT) systems, as companies change the way they manage and report on numerous business activities. Hence, companies should employ a methodical approach when building the IFRS framework.

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Topics: Planning and Budgeting, Infor CPM, Corporate Performance Management CPM, Financial consolidation, planning and reporting

How to evaluate and categorise business performance (part 2)

Posted by Rick Yvanovich on

In the last post, three out of five criteria to assess business performance in relation to the corporate planning, budgeting and forecasting process were discussed. The last two, pointed out by Aberdeen Group in its 2011 study, are technology and performance management.

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Topics: Planning and Budgeting, Corporate Performance Management CPM, Financial consolidation, planning and reporting, Enterprise Performance Management (EPM)

The major differences between IFRS accounting and VAS accounting

Posted by Rick Yvanovich on

Vietnam’s Ministry of Finance has been working to converge IFRS accounting and VAS accounting, with a goal of eliminating most, if not all, of the key differences by the time the Government allows or mandates the use of the International Financial Reporting Standards. Progress has been made, but significant differences remain in inventory costing, impairment write downs, contingencies management, debt covenant management, and revenue recognition.

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Topics: Planning and Budgeting, Infor CPM, Corporate Performance Management CPM, Financial consolidation, planning and reporting

Don’t skip non-financial data in corporate reports

Posted by Rick Yvanovich on

Investors are usually tempted to skip the seemingly wordy introductory pages as well as footnotes. If the financial statements are all about figures and hard data, these non-financial sections of the corporate report add the “human touch”.

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Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software, Infor SunSystems

How to evaluate and categorise business performance (part 1)

Posted by Rick Yvanovich on

Effective planning, budgeting and forecasting processes are indicative of good business performance. A study conducted by Aberdeen Group in 2011 identifies five key performance criteria that distinguish the best-in-class (top performing) from industry average and laggard companies.

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Topics: Planning and Budgeting, Corporate Performance Management CPM, Financial consolidation, planning and reporting, Enterprise Performance Management (EPM)

What International Financial Reporting Standards entail

Posted by Rick Yvanovich on

The International Financial Reporting Standards establish 34 new accounting policies that in general affect how companies value their assets and report on their business performance. The regulation creates new, higher standards for transparency in business operations by requiring more detailed presentation of balance sheets and cash flow.

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Topics: Planning and Budgeting, Infor CPM, Corporate Performance Management CPM, Financial consolidation, planning and reporting

What the financial report says about a company’s performance

Posted by Thai Pham on

Reviewing the financial review section of an annual financial report helps to assess various aspects of the business performance and risk from a quantitative perspective. This blog outlines the main questions investors or readers should ask when reading a company’s financial statements.

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Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software, Infor SunSystems

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 Rick Yvanovich
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With TRG International Blogs, it is our mission to be your preferred partner providing solutions that work and we will make sure to guide your business to greatness every day.

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