TRG Blog

How to Turn Budgeting into a Value-Adding Process

Posted by Rick Yvanovich on

In today’s complex and rapidly changing business climate, there is an increased demand for top management to better observe, measure, and manage their business. Planning and budgeting plays an important role in enterprise performance management. However, in many organisations, planning and budgeting is not seen as adding value since:

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

Management Accounting vs. Financial Accounting

Posted by Thai Pham on

Since the early days, Management Accounting has played a critical role in helping executives to make impactful decisions. However, many people have easily mistaken Management Accounting for "Financial Accounting". When you clearly understand these two concepts, you will see that they have obvious fundamental differences.

Read more: Why Management Accounting is Essential for Sustainable Success

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

Revamping Financial Analysis to Gain Business Insight

Posted by Rick Yvanovich on

Financial analysis dates back centuries, at least to the codification of double-entry bookkeeping in the 15th century. The analysis of balance sheets and income statements has long served as the basis of credit and lending decisions.

The discipline of management accounting developed in the early 20th century as a way of using accounting data to keep corporate executives and managers informed about what happened or is happening and why.

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

Revamping Corporate Financial Planning: 8 Points to Remember

Posted by Thai Pham on

As the world is heading towards an uncertain future, businesses can expect some unexpected events along the way. Therefore, agility needs to be embedded in every business process, including corporate financial planning.

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Topics: CFOs, Financial consolidation, planning and reporting, Enterprise Performance Management (EPM), Financial Accounting Management Software

Why You Should Strive for an Efficient Financial Close

Posted by Rick Yvanovich on

In today’s fast-moving world, companies have to juggle multiple priorities when managing their business, such as overseeing financials transactions, measuring corporate performance, attesting financial reports, timely closing and consolidating financial data. Thus, it is no surprise that CFOs are always aiming to close books and comply with regulations faster and more efficiently.

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Topics: Planning and Budgeting, Financial consolidation, planning and reporting, Financial Accounting Management Software

Planning and budgeting: Solutions to common problems

Posted by Rick Yvanovich on

Jack Welch, former Chairman at GE once said: “The budgeting process…sucks the energy, time, fun, and big dream out of an organization”. Yes, everyone hates it! If there is an effective way to do it without trying too hard will you take its advantages to grow? What you need are just a good planning and budgeting process and the right technology!

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

How companies can improve their corporate financial report

Posted by Rick Yvanovich on

In two previous posts, we have discussed some issues with annual reports and financial reviews of companies in Vietnam. What can be done to improve them? Preparing a financial report is an art that requires authenticity rather than a motive to polish a company’s image.

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

Getting rid of Excel in financial planning and budgeting: modern trend for CFOs

Posted by Rick Yvanovich on

Recent research by Anaplan, an expert on modelling and planning finance, sales and operations platforms, states that currently, Asia Pacific’s CFOs are still experiencing difficulties with spreadsheet usages in financial planning and budgeting. In addition, there was a relatively low satisfaction level with the accuracy, timeliness and ease of Excel use for planning and budgeting.

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Topics: Planning and Budgeting, CFOs, Financial consolidation, planning and reporting

Points of caution when analysing annual financial review in Vietnam

Posted by Rick Yvanovich on

In the previous post, we have touched upon the current issues with annual reports in Vietnam. The financial review in an annual report, including financial statements and footnotes, is of particular interest to investors. Nonetheless, there are differences between the way this section is approached in Vietnam and in Western countries such as the US and UK due to legal, social, cultural and political dissimilarities.

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Topics: Financial consolidation, planning and reporting

Rethinking the real value of annual financial reports in Vietnam

Posted by Rick Yvanovich on

Annual report – As sad as it may seem, the concept of preparing/using the document is still a grey area in Vietnam. According to the Ministry of Finance, to date there are 1,690 public companies in Vietnam, 704 of which are listed in 2 stock markets. However, in 2011, only 21 out of 695 listed companies sufficiently met mandatory regulations regarding information disclosure.

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

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 Rick Yvanovich
 /Founder & CEO/

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