There are two primary types of financial leadership within top organizations: the CFO and the controller. Many growing organizations do not have a clear understanding of the two positions, often overlooking the value that a CFO could bring to their business. To determine what level of financial leadership an organization...
It is a CFO’s responsibility to make sure the company can pay its obligations, achieve its business goals and fund its growth objectives. This calls for planning, analysis and solid cash flow forecasting. A cash flow forecast, or cash flow projection, forms the basis of a firm’s near-term financial processes as...
If your next audit were a stock you held, how would you characterize the return you’d like to see? You might say high RO(A)I—Return on Audit Investment—would include an accurate presentation that is in full compliance, completion in a timely manner, and fees that are fair and in line...
The Sarbanes-Oxley Act (SOX) has brought major changes to the regulation of financial reporting and corporate governance practices. SOX was enacted in the wake of the Enron and WorldCom financial scandals to protect shareholders and other company stakeholders from corporate accounting errors and fraudulent financial practices. The Act covers a...
“I consider the ability to reinvent to be the core strength of all successful business people or institutions,” Stephen M. Ross, chairman of The Related Companies, told a recent graduating class at the Ross School of Business at the University of Michigan. Ross knows what he’s talking about. He built The...
Loan covenants establish benchmark metrics that can ensure a company stays healthy. However, if the requirements are too stringent, too sensitive or too difficult to meet, they can put the same firm in a stranglehold. Executives responsible for raising capital for their firms will need to negotiate covenants – conditions and...
An interesting counterpoint to signs of economic recovery is the problem the U.S. Government is having as it tries to pass a new budget. Even though the Federal budget debate is being acted out in the political arena, it illuminates the importance of budgeting processes in addressing needs and determining outcomes....
With many significant FASB/IASB reporting convergence projects approaching completion by the targeted June 30 date, the stage is set for a likely Q3 or Q4 2011 statement by the Securities and Exchange Commission that will resolve whether U.S. public companies will be required to report under International Financial Reporting Standards...
Our business record retention schedule shows over 150 types of business documents:
CFO Edge Business Record Retention Schedule
Keeping the right documents helps meet compliance requirements and is a best-practice risk management approach.
It also makes it efficient to meet future needs related to tax issues, litigation and other...
The FASB and IASB joint exposure draft on proposed lease accounting changes is pointing to significant changes in reporting that will impact areas from income statements and balance sheets to financial covenants, EBITDA calculations, earn-outs, and compensation agreements. Deloitte recently released results of a survey1 of 284 executives that reported on...