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.
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By using the most current technology and keeping their skills up to date, management accountants can enhance their careers and their organizations.
In the July 2015 column, the IMA® Technology Solutions & Practices (TS&P) Committee discussed its list of “Key Technology Trends for Management Accountants.” While understanding and tracking the trends is critical, it’s even more important to prepare yourself and your team to identify, analyse, recommend, and implement the technologies that will bring your organization (and your career) to the next level. In a short video on the Competency Crisis website (www.CompetencyCrisis.org), IMA President and CEO Jeff Thompson rallies our profession to meet the challenges of rapid technological and regulatory change and to lead our organizations to this next level as management accountants have always done.
In the previous posts of this “Managing your business in a volatile climate” blog series, we discussed about a renewed focus on risk management, business forecasting and new technologies that businesses can leverage to stay competitive in a volatile market. In this articles, the last post of this series, we will discuss about improvement of businesses responsiveness to volatility by capitalising on core processes and technology investment.
In the increasingly volatile and regulation-filled business world, the ability to adapt is of utmost importance. But handling change and complexity is a challenge for companies, especially when they try to step out of the domestic environment and into the global zone.
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”.
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.
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.
The last post pointed out crucial elements needed in a best-in-class financial management solution. Now we are going to discuss two additional factors that are also necessary for businesses to “future-proof” themselves from unexpected changes.
Many companies are finding that a non-ERP financial management framework delivers the strongest capabilities and greatest flexibility. However, it is still a challenge to find a system capable of operating effectively in such a dynamic and complex environment. The criteria below will help you: