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In the whirlwind world of startups and businesses on the hunt for investment, financialreporting is much more than a collection of numbers; its the story of your businesss vitality, potential, and vision. Discover how to transform your financialreports into investment magnets by aligning them with investor expectations.
FinancialReports That Dont Age Like Milk: The Power of Real-Time Data Imagine running a business where financial decisions feel like guessworkwaiting weeks for reports, struggling with outdated data, and constantly fearing human error. Now, real-time dashboards allow them to monitor financial health instantly.
For example, while South African companies follow International FinancialReporting Standards (IFRS), the US requires compliance with its Generally Accepted Accounting Principles (GAAP). IFRS is principles-based and allows for some judgment in financialreporting, while GAAP is more rigid, rules-based, and less forgiving.
Running the Numbers Without Running from the Truth No one sees the cracks forming in a businesss foundation quite like the CFO. Before the headlines, before the boardroom fallout, the numbers tell a story – and its your responsibility to make sure its the truth. You see the numbers before anyone else.
Finance and Strategy: Making Numbers Work for Your Vision Imagine this: Your company has a fantastic vision—perhaps it’s to dominate a new market, launch a groundbreaking product, or grow your team and profits. It’s about making sure your numbers don’t just add up but drive your company toward its ultimate goals.
My interest in finance was sparked by a fascination with how financial decisions drive both business growth and sustainability. The ability to analyze numbers and translate them into actionable strategies has always intrigued me. This helps in developing a well-informed strategy to tackle the problem.
Aaron walks us through how nonprofits can leverage even basic CRM tools to: Track donor interactions and touchpoints Automate reminders and follow-ups Personalize communication based on donor interests Forecast future giving and campaign success The key isnt the specific tool you useits how well you use it. Get the free guide!
By 2025, the traditional image of number-crunching accountants confined to back offices will be a relic of the past. Repetitive tasks, such as financialreporting, are increasingly being automated, freeing up finance professionals to focus on strategic initiatives. The finance function is undergoing a seismic shift.
The most valuable indicators of the financial health and position of an organization are the metrics that are tracked in financial statements—Balance Sheets, Profit and Loss Statements, Cash Flow Statements, Account Receivables, and more. Financialreporting is meant to give stakeholders an accurate depiction of a company’s finances.
Identifying and Overcoming Ethical Dilemmas in Business In the corporate world, numbers might drive decisions, but values define leadership. As a CFO your influence extends beyond financialreports and budgets. Communicate transparently about the rationale behind decisions, even if they are unpopular.
Effective communication in financial teams is crucial for making informed decisions and achieving organizational goals. However, several key mistakes can hinder effective communication in this context. Financial professionals should strive for clear and concise communication that everyone on the team can understand.
Talking Money Without Causing Panic Numbers tell the truth, but how you communicate with them determines how they are received. As a CFO, your role goes far beyond reporting figuresyou shape strategic decisions, guide leadership, and influence confidence in the business. Replace vague financial language with direct insights.
In South Africas business environment, where public trust is fragile, regulatory compliance is non-negotiable, and financial transparency is a competitive advantage, the CFO plays a crucial role in shaping whether a company is seen as credible, ethical, and stable. Financial results are not just about earnings per share or cost ratios.
million nonprofits in the United States – nearly double the number from 30 years ago – organizations need to stand out in an increasingly crowded field. Book a FREE consultation here Do You Struggle to Make Sense of Your Financial Statements? If you need help with your accounting and bookkeeping, lets talk.
The IPO market has also seen a resurgence, with 13 IPOs each aiming to raise $100 million or more filed in January 2025 alone , marking the highest number of sizable IPO filings in a single month since early 2022. Companies must ensure they are operationally, financially, and strategically ready for the transition to public markets.
Anderson shared her experiences as a CPA, noting the frustration of dealing with arbitrary fundraising targets or “plug” numbers to balance the budget. Both experts agreed that open communication and realistic goal-setting are crucial for creating a workable budget. Book a FREE consultation here. Get the free guide!
This early encouragement played a key role in shaping my future, as it introduced me to the world of business and numbers. I quickly realised I had a natural affinity for finance and enjoyed working through financial problems. From that point, I shifted my focus to commerce studies, starting in Standard 7 (Grade 9).
Profit Leaks and Panic Fixes: How Smart CFOs Solve Problems with Precision In the world of financial management, being a CFO means far more than just numbers on a spreadsheet. But navigating complex financial problems isnt just about being good with numbers; its about using those numbers to make smart, impactful decisions.
Follow standard accounting rules In most industries, this means using IFRS (International FinancialReporting Standards) or IFRS for SME (International FinancialReporting Standard for Small and Medium-sized Entities) to prepare financial statements. Staying informed can help you prepare ahead of time.
The horrors are real when it comes to financialreporting. The worst part is that without the proper technology to help streamline and integrate financialreporting processes, your business will continue to have cascading errors, which will eventually result in the worst of all horrors: performance bottlenecking.
Forget about the numbers for a second. A well-crafted budget is a reflection of your mission and a roadmap to financial sustainability. It helps you communicate how you’re going to make the difference you want to see in the world. It can be a tool to galvanize your team, community, and supporters. much better.
According to Sheri’s research, organizations that can quantify and communicate how they’re changing lives are 68% more likely to win grants compared to those who only report on outputs (e.g. number of people served). Book a FREE consultation here Do You Struggle to Make Sense of Your Financial Statements?
Holding an MSc, BSc, and FCCA qualification, Julius has made a remarkable impact in the finance sector, earning multiple prestigious awards, including the Chief Finance Officer of the Year Sustainability Award (2023) and the FinancialReporting Award (2023). I then communicate solutions effectively without antagonizing any party.
Translating Financial Performance into Tangible Results: A CFO’s Guide In the dynamic world of finance, one of the greatest challenges for CFOs is translating financial performance into tangible results. Understand the Story Behind the NumbersNumbers tell a story, and as a CFO, you’re the storyteller.
The CFOs New Mandate: Scott Farrell’s take on Emotional Intelligence, Leadership, and Judgement in a Complex World The role of the CFO is evolving faster than ever, and its no longer just about numbers. Behind every set of results is a story of people, relationships, and communication, he explains.
I enjoy numbers and finances; and I loved accounting at school. I am very passionate about financial and business education and have founded the Ronel Jooste Dream Foundation aiming to bring financial and business literacy to the communities; also helping them to start and grow sustainable businesses. Values are critical.
Out of all the finance jobs available to college graduates, financial managers are some of the highest-paying, with high demand for workers in this field. Bureau of Labor Statistics, employment numbers for Financial Managers are expected to rise by 17% over the next decade , faster than the average for all occupations.
Management reporting involves a set of reports submitted to management that aims at supporting decision-making process and monitoring progress. Performance management is a range of practices which a company uses to measure its performance and communicate results. Turning to soft skills, it’s not so easy here.
In an ideal world, financialreports should build shareholder trust by offering accurate data about the performance of the company. In reality, a company’s financialreport can be more flimsy—involving estimates and judgment from leadership that’s far from the truth. Create Detailed, Transparent Reports.
The FP&A team is numbers-oriented, but also requires a great deal of communication skills. The financialreporting manager must be able to clearly explain specific financial concepts at a high level for busy executives. Department Budget vs. Actual Reports.
Whether it is poor post-close planning, misjudged synergy estimates, or ineffective communication across teams, failure tends to follow patterns. Inconsistent FinancialReporting and Controls: A lack of visibility into financial data, reporting cadence, or compliance frameworks can result in missed targets and stakeholder distrust.
Though some activities, such as financialreporting, budgeting and forecasting are periodic, they are always characterized by tough deadlines to be respected. Communication skills. Interaction and collaboration with each of them require juggling different behaviours and communication styles. Flexibility and adaptability.
It will take a number of months to show them that you’ve changed the way you’re working with them and that things are going to be better going forward. Communicate with your bank on a regular basis. Produce stable, timely financialreports. There are two numbers that are very important here. .
Days of Cash on Hand Days of cash on hand: (Average daily operating expenses) / (Current cash and cash equivalents) This represents the number of days an organization can operate without additional cash flow. Tracking donor retention rates can help you determine if your donor outreach and communications are working to create repeat donors.
They need to know how to explain the financial implications of operational changes, how to influence without alienating, and how to hold the room when nobody wants to hear what the numbers say. Give them a board pack that has already been reviewed, and ask them to brief you as if you are a non-financial director.
He instructs his managers to spend no more than 10 percent of their time on accounting and the rest interpreting what the numbers mean. This approach also includes automating financialreporting and implementing a statistics unit to generate commercialised insights for stakeholders, a potential revenue stream in itself.
Monthly financialreporting and analysis. Reporting of key performance indicators (KPIs). However, as the number of startups and remote businesses continues to grow, so will the use of fractional CFOs. Day to day, this might look like a variety of things: . Creation of dashboards and selection. Cash flow projections.
The same goes for managing moneywithout tracking your numbers, things can go wrong fast. Financial dashboards Real-time insights on sales, expenses, and profits help you spot trends early. Quick Tip: Set up automated financialreports to track income, expenses, and cash flow monthly. Think about baking a cake.
Once again 2022 was not a boring year, both for world events and finance in particular, and the growing number of readers and widely diverse range of topics attests to that. 2) The Importance of Trustworthy, Independent SOC Reports in FP&A. Read the FP&A Software Solution Comparison here.
As stewards of financial integrity, CFOs are expected not only to manage the numbers but also to lead by example, embodying the values that define responsible and transparent leadership. This can be as simple as adhering to financialreporting standards without compromise, even when under pressure to deliver positive results.
As the person responsible for preparing an organisation’s financialreports, which include balance sheets and income statements, the role of a finance controller is anything but ordinary. A controller is a pivotal role in the organisation which allows one to showcase both technical and soft skills,” Geronimo says.
Case in Point: A mid-sized logistics firm in Morocco used the BIPP to benchmark its financial resilience and non-financialreporting practices. Integrate smart communication and collaboration solutions. Highlight the critical role of CFOs in business evolution. Adapt to market changes through data-driven decisions.
By identifying key profit drivers and improving financialreporting , the business was able to grow efficiently and profitably. Whether you’re an SME seeking cost-effective financial leadership or a large organization needing specialized support, fractional CFOs are proving to be a game-changer for businesses worldwide.
How to Spot Financial Statement Fraud: Sudden Financial Performance Changes : Be suspicious of abrupt changes in key financial metrics without clear business reasons. Aggressive Accounting Practices : Look out for unusual accounting entries, round-number transactions, or complex journal entries that lack clear justification.
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