- Now You Wish You Were Beyond Your Budget
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- This is the third part in our series on budgeting and beyond. In the first part I wrote about a long journey you were about to embark on in “Don’t Tell Me, You’re Still Doing Budgets?” and I gave you this warning: “…when you think all the moving parts are accounted for, something comes up that makes it all obsolete.” The world always develops differently than your assumptions. However, you still decide to produce a budget every year despite wishing you were already beyond your budget. So, let’s discuss how to make the best of your budget situation.
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- The COVID-19 pandemic drove the need for many finance functions to transform. CFOs pivoted to deal with the crisis, finding new tools and ways of working to facilitate their finance transformation. However, the results have not always equaled the desired outcome. Turning finance transformation objectives into reality is a hard, thoughtful work.
- Selling to a SPAC. A primer for CFOs.
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- Guest Contributor, Matt Kemp Prior to 2020, the term SPAC was a seldom-used, rarely mentioned financial instrument that even the most seasoned professional investors had never run into. However, last year this unique financing vehicle exploded onto the scene and has become a mainstay of CNBC daytime debriefs and Nasdaq social media announcements. Let’s explore the SPAC and learn why a CFO of a privately-held company should understand its purpose.
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Governance & Controls – structure and controls.
Transaction Recording – systems, transaction processing and closing the books.
Reporting - efficient, timely and accurate information for decision making and meeting compliance requirements.
Accounting
Business Planning - provide the financial roadmap for the company with supporting analytics.
Financial Forecasting - integrate the company’s current performance relative to budget with the real-time business environment.
Investment Analysis - the framework to analyze new opportunities as they present themselves.
Finance
Cash Management - the discipline to ensure cash is available to operate the business normally.
Funding - Planning for and raising funds to meet the needs of the business.
Risk Management – Identification and mitigation of key business risks.
Treasury
Self-Awareness - Internal.
Team Building - External.
Strategy & Culture – Motivate people to follow you.
Leadership
Four Pillars of Executive Expertise
CFO.University is built around the Four Pillars of CFO Success. These Pillars are supported with Core Competencies. Our framework allows you to master your role as a senior financial officer. The Four Pillars are made up of:
Accounting – Governance & Controls, Transaction Recording and Reporting
Finance – Business Planning, Financial Forecasting and Investment Analysis
Treasury – Cash Management, Funding (Capital Raising) and Risk Management
Leadership – Self Awareness, Team Building and Strategy & Culture
