Financial Reporting Drives Good Decisions

CFO Simplified

The company used Cash Basis accounting for their operating statements because taxes were calculated on a Cash Basis. When sales grew, profitability looked strong because cash came in within 48 hours, but the company’s bills weren’t due for 60 days. Problem.

Check Your Company’s Oil

CFO Simplified

Forecast and manage cash flow, reporting and more. Develop a cash flow forecast — I hope that you’re not running your company by checkbook. Timing or accuracy issues in reporting — Are you getting all the information you need to make decisions?

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Burying Common Financial Reporting Horrors in the Finance Graveyard

The Finance Weekly

The horrors are real when it comes to financial reporting. With Halloween right around the corner, it’s the perfect time to find out how the power of , financial reporting software can help you bury these six common issues in the graveyard where they belong.

Accelerating Financial Reporting, From Monthly Reports To Real-Time Analytics

PYMNTS

According to Kurt Rathmann, CEO and founder of SMB accounting firm ScaleFactor , the month-end close may be the traditional way of doing things, but it forces small business owners to examine data that, by the time a financial report is completed, is too old to be of much use. “In the simple accounting environment, you get a financial statement at the end of every month, the data of which relates to last month,” Rathmann said in a recent interview with PYMNTS.

4 Types of Financial Reports Every FP&A Team Should Be Using

Planful

The financial reporting manager must be able to clearly explain specific financial concepts at a high level for busy executives. FP&A teams can do so by leveraging these four essential types of financial reports techniques. Department Budget vs. Actual Reports. This also gives the FP&A team access to all the information they need to report the state of the business up to the CFO and other executives. Operation Review Reports.

A Business Growth Case Study

CFO Simplified

The company was profitable, but after some moves to expand the business, they were worried about depleting their cash reserves and using up their line of credit with the bank—which would put a halt to further expansion plans. Cash Flow. Financial Reporting.

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Walmart, Taiwan Semiconductor, Netflix, Carnival and more

CFO News Room

Walmart — Shares of retailer Walmart jumped more than 7% after reporting quarterly earnings that beat Wall Street’s expectations and raising its forward guidance. The company reported adjusted earnings per share of $1.50 Bing Guan | Bloomberg | Getty Images.

The Future of Fractional CFOs

CFO Simplified

A fractional, or part-time CFO, is a great option for businesses that don’t have an individual on staff who is qualified to serve in a CFO role or for businesses that don’t have the financial strength to hire an in-house CFO. Monthly financial reporting and analysis.

How the Pandemic Changed the Cash Flow Playbook

Planful

But in the midst of this uncertainty and chaos, I’m finding that FP&A has been pushed into a more strategic and visible role, especially where cash flow is concerned. And, since the resulting decisions have taken on a new urgency, and can have dramatic effects on future cash flow, the precision of those answers is critical. . That changes how you’re getting paid, who you’re paying, and how fast that cash is changing hands.

How Excel Spreadsheets Can Create a Data Security Risk for Businesses

Centage

As a business owner or chief financial officer (CFO), spreadsheets may be an important part of your financial forecasting, planning, and budgeting processes. So, why are so many companies relying on them to handle their financial needs?

How Excel Spreadsheets Can Create a Data Security Risk for Businesses

Centage

As a business owner or chief financial officer (CFO), spreadsheets may be an important part of your financial forecasting, planning, and budgeting processes. So, why are so many companies relying on them to handle their financial needs? Reporting. Forecasting.

What is the Difference between a Part-Time, Fractional, and Interim CFO?

CFO Simplified

A chief financial officer (CFO) holds the highest financial position in a business. A CFO, according to NetSuite , is responsible for: Tracking cash flow and financial planning. Analyzing the company’s financial strengths and weaknesses.

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The Finance Committee and Nonprofit Financial Management Tips

The Charity CFO

Your finance committee spends the most time analyzing and studying your nonprofit’s numbers, yet your entire board of directors is responsible for financial oversight. All board members are responsible for the financial health of a nonprofit organization. Budget to Actual report.

Computer Retailer – Accounting Methods

CFO Simplified

Confusion over cash-versus-accrual reporting creates continuing questions for business owners. The business’ part-time CFO was providing financials that didn’t match the reports they received from their accountant. Financial Reporting.

Internal Controls

CFO Simplified

Also, although the company was profitable, it wasn’t building any cash balances. Significant Findings and Recommendations: Internal Controls – Cash Operations. The office manager controlled the company’s financial operations. The cash receipts journal should match bank deposits.

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A Buyer’s Guide for the Top 10 FP&A Software 2022

The Finance Weekly

FP&A software assists CFOs, finance leaders, and FP&A experts in ensuring the financial health of their organization by tracking and analyzing current outcomes and forecasting future performance. Strategic financial planning. Ideal for complex financial budgets and plans.

How Do I Recover from Business Financial Fraud?

CFO Share

What are the signs of business financial fraud? Common signs of fraud include: Unreconciled cash transactions over 30 days old. Continuously shrinking cash despite profitable financial reporting. How does my business recover from financial fraud?

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Why Financial Forecasting Is More Important Than Your Annual Budget

Centage

If your board asked you to run new numbers based on fresh assumptions, it took you days or weeks to create a new set of reports. But times have changed – which is why financial forecasting is more important than your annual budget. What’s the Financial Forecast Look Like?

How Data Guides A New Era For The ERP

PYMNTS

At the same time, a surge in third-party financial platforms has disrupted the flow of data into the ERP, disbursing information throughout the back office. He pointed to financial reporting as one example of this shift.

Why Rich Business Owners Should Hire the Professional CFO?

Together CFO

Wealthy people are often high on cash but low on ideas because they don’t have much time to think about it. CFO on the other hand offers a wealth of financial management proficiency to your growing business. Cash Management.

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Financial Forecasting Is Broken—Here’s How To Fix It

Planful

When it comes to financial forecasting, you might find yourself in a reality different from the one you predicted in your last forecast—despite spending most of your time trying to get it right. “Only 1% of organizations achieve 90% forecasting accuracy 30 days out,” says Ashish Pareek , VP and Head of Financial Planning and Analysis (FP&A) at Jackson Hewitt Tax Service Inc. Use Automation To Help Finance Teams Efficiently Create Forecasts.

Plan for Today to Better Prepare for Tomorrow: Rolling Budgets & Rolling Forecasts

Centage

Implementing rolling budgeting, rolling financial forecasting, and mid-year forecasts. Plan Ahead with a Rolling Forecast Like rolling budgets, rolling forecasts provide companies with future numbers for use in planning and management. financial forecasting

What is a 12 Month Rolling Forecast?

CFO Share

A rolling 12-month forecast projects financial performance over a 12-month time horizon using the “add/drop” approach to forecasting. A rolling forecast model is a dynamic and advantageous way to plan in an ever-changing business environment. Tie in historical financials.

Planning business scenarios for financial agility

Future CFO

CFOs and their finance teams are faced with the unenviable task of re-jigging corporate financials to ensure sufficient cash flow and working capital to make it through the end of the year, with healthy liquidity to rebuild a battered business through a post-COVID world.