For many organisations, cloud computing really is the question of “when” not “if”. There are significant advantages of the transition to the cloud, and not just from an IT perspective. The finance functions should be able to reap rewards from this trend as well.
The consulting firm Protiviti and North Carolina State University’s Poole College of Management collected responses from 735 board members & finance executives about 30 risk issues that will likely have an impact on their companies in 2017.
A global survey by EY, which gathered data from 1,000 finance executives in businesses with revenue greater than US$500 million, finds that the level of CFO’s confidence in their corporate reporting is significantly lower than last year.
Companies used to rely on tangible, physical assets like factories, estates, and equipment to create value. In today’s globalised business, intangible assets such as brand values, intellectual properties, data, human capital, and customer capital have become the key value drivers for businesses. Finance professionals, however, still find it difficult to manage such assets.
What are CFOs’ top priorities for 2016? Consulting firm Protiviti tries to answer this question in its 2016 Finance Priorities Survey. Collecting responses from 650 CFOs, vice presidents of finance, corporate controllers, and other financial management professionals, the survey ranks the priorities using five categories: process capabilities (financial transactions); process capabilities (financial analysis); emerging issues; technical capabilities. The infographic below shows these five main findings.
McKinsey in a recent research reports that while 75 million people cannot have a job, yet many businesses have vacancies that cannot be filled, and that there is a gap between the current workforce’s skills and what employers want from employees. Especially in the finance and accounting world, where people need accuracy, concentration and speed, it is even harder for organisation to recruit and retain talents.
Having a comprehensive system will enable top managers to manage human resources especially in financial and accounting aspects more effectively in the most effective way to compete globally. Today, we’ll discuss further on 3 among 6 basic ways to use technology to shape up financial strategies and increase financial performance.
Tracking intercompany transactions is perceived as one of the most common problems with financial consolidation Intercompany transactions are transactions that happen between two entities of the same company. Not adjusting intercompany transactions results in consolidated financial statements that do not offer a true and fair view of the group’s financial situation.