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Joseph thinks that another area of success for the Finance department over the past months is real-time financialreporting, where cloud-based AI platforms automate variance analysis and generate management reports that previously took days to compile.
"By adopting advanced solutions and embracing proactive data management strategies, CFOs can ensure compliance, transparency, and success in this evolving era of reporting." She recounts that other steps, including integration into riskanalysis, strategy considerations and data, should follow closely as top considerations.
Pro forma financial statements and GAAP It's important to note that, since pro forma statements are based on hypothetical or projected data, they are not compliant with generally accepted accounting principles—GAAP statements must be based on actual financial results.
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