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.
Blog Topics: Planning and Budgeting, Financial consolidation, planning and reporting, Enterprise Performance Management (EPM)
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”.
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software, Infor SunSystems
Vietnam’s Ministry of Finance has made significant progress in converging Vietnamese Accounting Standards (VAS) with International Financial Reporting Standards (IFRS) in recent years. However, there are still some significant differences between IFRS and VAS that businesses need to be aware of. These distinctions can be found in inventory costing, impairment write-downs, contingency management, debt covenant management, and revenue recognition.
Blog Topics: Planning and Budgeting, Financial consolidation, planning and reporting, Enterprise Performance Management (EPM)
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.
Blog Topics: Planning and Budgeting, Financial consolidation, planning and reporting, Enterprise Performance Management (EPM)
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.
Blog Topics: Planning and Budgeting, Financial consolidation, planning and reporting, Enterprise Performance Management (EPM)
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.
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software, Infor SunSystems
Uncertain economic conditions have resulted in more informal and ad-hoc planning, budgeting and forecasting processes than before the financial crisis. According to data from a study by Aberdeen Group in 2011, although 65% of the surveyed companies have a formal planning and budgeting process, the figure is less than the 76% recorded back in 2008.
Blog Topics: Planning and Budgeting, Financial consolidation, planning and reporting, Enterprise Performance Management (EPM)
The International Financial Reporting Standards are the result of work begun in the early 1970s by the International Accounting Standards Committee (IASC). The slow evolution of IFRS adoption was accelerated in 2002 when the European Union Parliament designated IFRS as the accounting standard for publicly traded European Union companies beginning on January 1, 2005.
Blog Topics: Planning and Budgeting, Financial consolidation, planning and reporting, Enterprise Performance Management (EPM)
Annual reports are the only published documents that contain abundant information about a company’s performance. To get the most out of them, investors should have the right skills and knowledge. This blog outlines the basic components of an annual report and how to glance through the document if one has limited time.
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software, Infor SunSystems
2012 has been a tough year for many businesses. Managers have to struggle to make sure their organisations survive and stay strong through these difficult times. As a result, costs and budgets have become the most important factors to consider when making an investment decision. A strong budget can help managers know when they have a steady stream of cash flow and make better decisions based on that budget information. Here are a few tips for managers to weather the tough times:
Blog Topics: Planning and Budgeting, Financial consolidation, planning and reporting, Enterprise Performance Management (EPM)
Rick Yvanovich
/Founder & CEO/
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