Most CFOs have experienced the frustration of watching revenue rise, profits improve, and customer demand remain strong, while cash flow tightens. The board sees growth. The executive team sees opportunity. Yet, these positive business outcomes beg the question: “If business is doing so well, where is all the cash?”
In this piece Bill Denney, a finance leader living in Green Bay, Wisconsin, describes a successful close, it’s benefits and what it takes to get there.
What does a successful financial close look like?
Chief Financial Officers (CFOs) are increasingly tasked with making data-driven decisions to steer their organizations towards sustained success. CFOs are eager to leverage Artificial Intelligence (AI) for operational excellence and strategic advantage. I explored this topic with Prashanth H Southekal, PhD, MBA and Tariq Munir. This recap of our discussion provides CFOs with strategies for harnessing AI’s potential.
Recent AI developments highlight a growing gap between rapid adoption and public confidence, while enterprise vendors continue to compete aggressively on performance, cost, and control. From new approaches to improving AI accuracy and productivity to debates over regulation, security, and workforce impact, the latest news underscores that AI is moving from experimentation into a broader phase of business transformation. At the same time, rising concerns about governance, trust, and job displacement show that the technology’s long-term implications remain far from settled.
What is cost accounting? Is it simply a form of accounting for how expenses (e.g., salaries, wages, purchases) are calculated as costs (e.g., products, service-lines, customers)? Is it a method to provide and display visibility and the behavior of costs?
