- What Every Executive Needs to Know About Financial Reports
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- Financial information is the foundation for excellent planning systems. In just about every business, information is a key factor to success. Information needs to be accurate, available and timely. Imagine for a minute you are a fashion designer. Wouldn’t it be useful to know that the hot color for spring is purple before you cut, sew and ship your whole collection of green and yellow shirts? The same holds true for any business. One of the most important pieces of information needed, regardless of whether you are a manufacturer or service company, is financial information about your company. Accurate and timely financial reports allow you to make accurate forecasts, plan ahead and make adjustments quickly. They allow you to confidently approach customers, vendors and investors with proposals that will make your business better. Internal improvements will also come easier and accelerate in number.
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Take Assessment Watch Video- Builder’s Risk vs. CGL Policies – Which Policy Responds for Damages on a Project?
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- From Seattle to Charleston, tower cranes are dominating the skylines. New construction projects seem to be on every street corner in most metropolitan cities these days. With all of this activity, the possibility that damage may occur on one of those projects; insurance may be needed to pay for the damage; and the owner, developer, and contractors may be confused as to which policy should respond is foremost on the minds of claims professionals.
- Embracing AI in Finance and Accounting: Balancing Risk and Innovation
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- Until the public release of ChatGPT, most of us considered the notion of a human-like artificial intelligence like the HAL supercomputer in the movie 2001, or Data, the AI-powered android from Star Trek, something we were unlikely to see in our lifetimes. But as people use new powerful AI tools like ChatGPT and BARD for everything from setting meeting agendas to writing personal letters, shopping lists, and even poetry, an AI-powered future seems likely to become a reality sooner rather than later. AI coupled with The Digitization of the Finance Function create powerful levers for today’s CFO.
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
