CFOs – Are You a Vanguard or a Villain?
I continue to get mixed signals regarding how advanced CFOs are with their journey to become the “strategic advisor” that is so frequently mentioned in finance and accounting magazines. But I am unsure how much the evidence supports the vision.
The CFOs who are bold will candidly describe their managerial accounting practices and systems as aged and Medieval at the extreme. The bold ones are unafraid to admit that their existing reported information is both flawed with inaccurate costs and incomplete by not providing P&Ls by customer including channel, selling, customer service, and marketing related “costs to serve” which are arguably more important than product costs.
