This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Weve got what we think is a rather exciting model, which we describe in a working paper, that helps forecast in advance the likelihood that a firm will go on to commit accounting fraud. But mostwell, allof the research into accounting fraud has focused on detection rather than prevention. Joanne Horton: Yes.
Forecast Like a CFO, Not a Fortune Teller If your forecast still fits neatly on a spreadsheet tab and assumes the world will behave, its time for a rethink. Because lets face these days, planning the future on a single-track projection is like betting the farm on a weather forecast. Not every risk deserves a forecast branch.
Episode 360 Leading Practices in Treasury: Cash Forecasting In this episode, Pushpendra Mehta sits down with Paul Galloway to discuss the third topic in the series—Cash Forecasting. Paul breaks down the different types of cash forecasts and their roles across treasury, controllership, and FP&A. Listen in to learn more.
Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker
Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-looking forecasts to predict cash levels. Your CFO vs. your CPA Statement of Cash Flows vs.
FP&A is an evolving function that falls into the intersection of finance, operations and strategy aimed at driving better decision-making trough insightful analysis, forecasting and goal setting. In this blog post I wont focus on the activities that fall into FP&As scope by default, such as budgeting, forecasting and regular analysis.
Build a Strong Leadership Team with Financial and Operational Accountability Behind every financially sound nonprofit is a leadership team that doesnt just care about the missionbut also owns the outcomes. They dont wait for a crisis to ask questionsthey proactively engage with financial reports, forecasts, and metrics.
Forecasting shouldnt require a PhD in Excel or a week of IT support. Forecasts get trapped in spreadsheets. Thats where no-code forecasting in Power BI changes the game. What No-Code Forecasting Actually Means When we say no-code, we dont mean lightweight or dumbed-down. No-code forecasting solves this. The impact?
Accountability Isnt Admin Its Your Performance Lever For all the talk about AI-driven forecasting, real-time dashboards, and digitising the finance function, there remains one cornerstone of high-performing finance teams that no technology can replace: accountability. But accountability goes a step further.
📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
When youre running a nonprofit, its tempting to think of accounting as something you can get by withmaybe its a part-time admin, a volunteer with QuickBooks experience, or a reactive scramble at tax time. But heres the truth: If your organization doesnt have a skilled accounting team, you dont just have a bookkeeping problem.
Optimising Budgets: Strategies for Effective Financial Forecasting Financial forecasting plays a crucial role in managing budgets effectively. However, forecasting is not just about guessing numbersit is a structured process that relies on analysing past data, considering present trends, and planning. Allocate resources wisely.
Before You Forecast the Future, Figure Out Who You Are! It helps you stay grounded when the CEO questions your forecast, when a compliance issue lands on your desk, or when your team misses the mark. Maybe it is accountability. You hold yourself accountable, which encourages others to do the same. Maybe it is clarity.
Heading into 2025, accurate sales forecasting is more critical than ever. Here are five key ways to align your sales forecasting and budgeting processes for success in the year ahead. Here are five key ways to align your sales forecasting and budgeting processes for success in the year ahead.
Episode 359 Leading Practices in Treasury: Bank Account Management Architecture In this episode, Paul Galloway explores the three-in-one architecture of bank account management (BAM). He explains how visibility, account structure, and bank services come together to reduce risk, improve cash positioning, and support fraud prevention.
It’s Black Friday and you know what that means: Lots of promotional sales and lots of holiday retail spending forecasts. As we have seen historically , holiday sales forecasts tend to be a reflection of people’s mood at the moment — not an actual measure of intended holiday spending. billion and $960.4
During a high-pressure period at Visa following a restatement, Rene Ho shifted forecasting away from false precision. He required teams to present scenario ranges with clear reasoning, holding them accountable for understanding—not just outcomes.
When it comes to automation, what’s particularly beneficial is the way technology can automate how financial data flows through models and forecasts, freeing financial teams from the manual labor of attempting to create forecasts via spreadsheets. Fortunately, automation allows for increased agility.
Cheah says these differences across Asia impact AI adoption, particularly in finance and Accounts Payable (AP). Moreover, Cheah says predictive analytics uses historical data and Machine Learning (ML) to forecast cash flow, identify trends in payment delays , and predict future spending patterns.
The FP&A function is often seen as accountants or controllers rather than strategic partners. In the field of FP&A we talk a lot about high forecast accuracy, or driving faster and better decision-making which are good examples of professional judgment we perform under uncertainty.
They are used for everything from budgeting and forecasting to tax reporting and financial close processes. The True Cost of Spreadsheet Errors Spreadsheets have long been the foundation of financial planning and analysis (FP&A) for businesses.
Baruch Lev is Philip Bardes professor emeritus of Accounting and Finance, Kaufman Management Center, Leonard N. Feng Gu is chair and professor of Accounting and Law at the School of Management, State University of New York at Buffalo. Lev: One important element of successful due diligence is to look at the accounting.
The post Your Budget Isn’t Enough: The Forecasting Advantage for Nonprofits appeared first on The Charity CFO. Strategic planning. If that phrase makes your eyes glaze over—or your blood pressure spike—you’re not alone.
One of the major trends in this space is the ability to connect bank accounts seamlessly, providing real-time visibility into your financial status. They offer a complete suite of features that help businesses forecast cash flows, handle short-term investments, and improve liquidity.
Noise in predictions : One reason that the expert class is increasingly mistrusted is because of the unwillingness on the part of many in this class to admit to uncertainty in their forecasts for the future. For company financial numbers, I am reliant on accounting information, which gets updated on a quarterly basis.
A Checklist for Healthcare Organizations: No matter the size of your healthcare organization, predictive financial planning and forecasting is critical for ensuring that you are efficient and sustainable, and even more critical during times of uncertainty. Automate planning processes.
You need people who don’t just know how to close the books, but how to forecast outcomes, stress test assumptions, and build the kind of decision-support tools that bring insight to life. Their forecasts have credibility. Without it, everything from your cash flow forecasts to your investor presentations becomes shaky.
GDP growth is forecast at just 1% for 2024, down from 2.7% Driving the downturn is the contraction of the global diamond market, precipitated by reduced production and weakened demand, since diamonds account for 90% of Botswana’s foreign exchange earnings. Poverty remains high, unemployment reached a staggering 27.6% in 2023 and 5.5%
This article explores effective strategies for accounts receivable and payable management, offering actionable insights to enhance financial stability and promote growth. By forecasting cash flow and aligning it with business objectives, companies can anticipate potential shortfalls and surpluses.
Previous episodes in this Insights Series have explored the challenges created by new Digital Solutions Economy paradigms for billing, fulfillment, invoicing, revenue accounting, and compliance across a wide range of industries. Entitlement Management - Tracking and managing software licenses to ensure they are accounted for accurately.
From threat assessments and forecasting to communication and automation, they explore how treasury can enhance resilience and agility in uncertain times. Discover practical steps to ensure liquidity, visibility, and strategic readiness when disruption strikes.
With CS Lucas, your treasury team gains: Automatic bank balance retrieval across all accounts and locations Collaborative forecasting where team members update projections directly in the system Instant consolidation with automatic roll-ups by various groupings Advanced modeling including cycle forecasting and what-if scenarios From Insight to (..)
Moody’s forecasts strong profitability over the next 12-18 months based on solid economic growth in GCC countries, robust commercial activity, and government initiatives that give Islamic finance a bigger role in diversifying the region’s economies. Fueling this expansion is strong issuance of Shariah-compliant sukuk bonds.
These are collection accounts specifically developed to collect various public taxes: The amount of the advance available is determined based on expected receipts, and enriched reporting data enables automatic reconciliation in public accounting systems. At the end of 2023, Belfius had more than 12,000 public sector clients.
I then applied for a Junior Accountant position and pursued further studies to support that career shift. For a newly qualified accountant aiming to become a CFO, there are several key skills that are essential to develop. My career began as an admin clerk and bookkeeper, roles that left me feeling unfulfilled.
With fine-tuned leading practices for bank relationship management, bank account architecture, forecasting, compliance, managing unknown risks, and more, this guide offers tried and true approaches that will help you and your organization thrive. Why does forecasting remain one of the most time-consuming—and critical—treasury tasks?
On a day-to-day basis, the finance function is tasked with meeting the company’s accounting responsibilities — ensuring sound budgeting and forecasting. But increasingly, CFOs and their teams require a new focus on prioritizing employee experience.
AI in the “Real World” While these powerful tools seem to have a near mastery of natural language communication, they are not necessarily designed to possess many of the skills required by finance and accounting professionals. However, they still have a place in corporate finance and accounting.
This issue hampers forecasting accuracy, risk management, and resource allocation. Without accurate insights, businesses struggle with forecasting, risk management, and resource allocation. This leads to better budgeting, more reliable forecasting, and stronger financial stability. Use past data to predict future performance.
Tools like cloud accounting systems, AI-driven financial analysis, and automated reporting not only reduce costs but also improve efficiency and accuracy. For instance, using automated invoicing software could save hours of manual work, enabling your team to focus on higher-value tasks like analysing trends or forecasting.
With fine-tuned leading practices for bank relationship management, bank account architecture, forecasting, compliance, managing unknown risks, and more, this guide offers tried and true approaches that will help you and your organization thrive.
Additionally, the bank’s X-Border API enables other banks to automatically send payment instructions to Societe Generale in 40 different currencies from a single account, benefiting from a guaranteed rate for 20 minutes after obtaining the quotation.
ERP solutions hold vast amounts of data from all of your business operations—ranging from accounting to manufacturing to human resources and beyond—in one central place. Your business profitability is hindered when you can’t accurately forecast supply and demand. Does your team lose track of spreadsheets?
We organize all of the trending information in your field so you don't have to. Join 39,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content