- Why Finance Transformation Should Start With a Fast and Efficient Financial Close
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- The COVID-19 pandemic has driven a desire for finance transformation. CFOs have had to pivot to deal with the crisis, looking for new tools and ways of working to facilitate that. Desire does not equal results, however. Turning finance transformation objectives into reality is a hard, thoughtful work.
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Take Assessment Watch Video- The Fraud Examiner: The Emotional Impacts of Fraud
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- I stood there in Gary’s office. My client was a giant of a man. The leader of his company. Stoic. Reserved. Me, a young woman, barely 30, investigating one of the first fraud cases I had been engaged to conduct, and certainly the biggest fraud I had seen to date. Within 48 hours of arriving at my client’s location, I was staring at a fraud in excess of $1 million and I had barely scratched the surface.
- Your Trigger Alert
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- Trigger alerts are a fashionable, if questionable, attempt by colleges to warn students of potentially unsettling material in an upcoming lecture or book. (Yes, I know. Just move on. That’s a different topic.) If you’re a leader, your biggest challenge to success isn’t competition, poor execution, weak product design, or (insert other concern here). It is, says Joth Ricci, disruption. Disruption that can be either good or bad. (Joth is the successful head of three companies, one at a time).
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
