Category Archives for Blog
5 Secret Pieces of Advice Management Can Provide to Auditors
We are often struck by the difference in perspective between how management and the Board of Directors view the value of an audit as compared to how the auditor’s see it.Often, the two sides are worlds apart. The audit report is a standard form letter that auditors provide to express their opinion on a set […]
Continue reading
3 Myths of Achieving the Fast Close
How long does it take your finance department to close the monthly books? Is the financial information produced timely enough for the management team to react? Closing the books drives much of the monthly activity in many accounting departments. There are accruals to make, bills to send, reconciliations to perform, adjustments to post and the […]
Continue reading
3 Exit Strategies for Every Entrepreneur
Every entrepreneur dreams of making it big someday. Creating businesses with enduring value and profitable returns. But when it comes to cashing in, how exactly does that happen. Here are some well known, lesser known, and rarely considered options. 1. Well known: sell your company Build a strong company and then sell it. That’s the […]
Continue reading
3 Things You Should Never Do On Your First Day as CFO
Congratulations! You made it! You’ve just been appointed chief financial officer (CFO). You are the right-hand-man of the CEO and a trusted advisor to your fellow executives and the board of directors. So don’t screw up! Let’s talk about a few things you might do that could shoot yourself in the foot if you act […]
Continue reading
The 3 Forgotten Practices of Mastering Capital Allocation
Do you ever wonder what Warren Buffet does with his days? How did he become the most successful CEO in the history of the corporate world? Yet at the same time, he has little involvement in the day-to-day operations of any one of his dozens of companies under the Berkshire Hathaway umbrella of companies. The […]
Continue reading
3 Must-have Skills of the Modern CFO
Newsflash! The role of the modern chief financial officer (CFO) is changing. The role is evolving from one of leader of the back office toward one of strategic advisor to the organization. This evolution doesn’t diminish the importance of establishing and maintaining credible financial reporting. Instead, this evolution is in addition to this responsibility and […]
Continue reading
4 Leadership Roles of Every Successful Board of Directors
Are you an executive reporting to a board of directors? How do you perceive this body of people? Are they helping or hurting you in achieving the objectives you have set for the organization? Or are you a director? How do you evaluate the performance of the executive team you have appointed to manage the […]
Continue reading
3 Ridiculously Good Ideas to Get More Out of Your SWOT Analysis
The SWOT Analysis (strengths, weaknesses, opportunities, and threats) is a strategic and business planning tool that resides in just about every PowerPoint deck created for such purposes. But have you ever been left with that feeling that something is missing? Has the SWOT Analysis uncovered a strategic insight or helped your executive team formulate strategy? […]
Continue reading
Why Every Financial Executive Must Know of the Rule of Three
Have you ever noticed in life how things are naturally configured in groups of 3? Consider: The 3 R’s The three pigs The three bears The three wise men The three pillars… There are 3 reasons for us to remember this key principle in developing our communication skills. I’m going to call this the ABC […]
Continue reading
The 3 Best Ways to Protect Your Organization from the Inside Job
Occupational fraud is a big deal, no make that a really big deal! The Association of Certified Fraud Examiners has been studying fraud every two years for well over a decade and the statistics speak for themselves. The average organization is losing 5% of its annual revenues to fraud costing the world economy nearly $4 […]
Continue reading