Corporate governance—the establishment of processes, structures and controls to effectively run a business organization—has been a subject of increasing interest and concern over the past decade as a result of financial bubbles and scandals that have rocked the corporate world, and most recently resulted in a global financial and economic...
Successful outsourcing requires successful risk management. Be sure your outsource services provider is doing everything possible to protect the security of your sensitive data. Business process outsourcing (BPO) offers benefits in the way of cost savings, efficiency gains, and access to specialized knowledge and expertise. However, professional service providers such...
Often the simplest and most basic things within an organization are overlooked. It is time to get back to basics! The most basic of outputs from an accounting department is the chart of accounts. The chart of accounts enhances control, flexibility and reporting capacity when used effectively. Unfortunately, many organizations...
Outsourcing is a cost-effective way to access the qualified executive expertise needed for an organization to perform at a consistently high level. There are professional service providers in virtually all areas of executive purview including financial services, human resources, marketing, strategic planning, special project implementation, information technology and more. When...
Along with after-tax profits and EBITDA, revenue is among the most critical measures of a company’s health and growth potential. Therefore, when changes take place in rules governing accounting for revenue, it is a highly significant event. Hence, the importance of the new revenue recognition exposure draft. That is...
Pay policy plays a significant role in helping firms achieve organizational excellence. A carefully designed, well executed incentive compensation program will enable a company to attract, motivate and reward top-notch employees; sustain a creative, performance-driven work environment; and support behaviors that align with the organization’s business objectives, marketing goals and overall...
Proactive engagement in sell-side due diligence prior to a merger or acquisition is a step often neglected by companies contemplating an approach to the market. While acquiring companies will do their own due diligence, an acquisition candidate that commits to its own comprehensive discovery process will be better equipped to identify...
At most organizations, expense reporting has always been a frustrating, time-consuming and costly function for all concerned. Employees tend to dislike keeping track of and accounting for all the major and minor expenditures that they make when taking a business trip; attending a seminar, convention or conference; or simply...
Typically, small routine purchases make up only 5% to 10% of a company’s total purchasing spend. Yet whether the item purchased is a $10 stapler or a $5 million data management system, the internal cost to process and document the transaction ranges from $80 to $150 or more. Procurement...
As the financial leader of an organization, the CFO formulates financial direction and oversees multiple departments that execute on initiatives in support of that direction. The CFO’s position often encompasses several roles: financial strategist, financial steward, manager of the firm’s financial operating model, and financial catalyst. CFOs looking to excel...