Latest
·- View Popular·
10 Strategies to Mitigate Risk of Critical Supplier Bankruptcy
Article on Bankruptcy • posted 02/12/12
A sudden insolvency on the part of a key supplier is a nightmare scenario no company wants to experience. Controllers should advocate for implementation of a set of 10 strategies--in consultation with supply-chain and purchasing management and the CFO--as part of providing proactive leadership to prevent or head off potentially catastrophic supplier insolvencies Continue…
Process Improvements + Automation = Faster, Enhanced Order-to-Cash Cycle
Article on Accounts Receivable • posted 02/01/12
Pressure to speed up and increase the transparency of the order-to-cash (O2C) cycle remains relentless. Drivers include the need to reduce costs, gain continuous visibility into customer financial health, improve cash flow forecasting, and respond to ongoing customer requests to credit and AR for longer payment terms. Controllers at best-in-class companies are meeting the challenge of improving and speeding the complex, multi-stage O2C cycle with process improvements linked to automation solutions. Continue…
Tax Reduction Strategy: The Last Remaining Export Incentive
Article on Tax and Regulatory Compliance • posted 01/26/12
U.S. companies that export can now recoup tax savings on their product or certain service revenue by creating an interest charge-domestic international sales corporation (IC-DISC). This benefit is also available to companies whose products are exported by another party or “ultimately used” outside the United States by customers. While not a tax shelter, the IC-DISC provides, at the least, a permanent 20 percent tax savings for qualifying U.S. exporters—and in some cases even eliminates U.S. tax entirely. Continue…
How Controllers Can Update Skills for Today’s Finance Organization
Article on Corporate Financial Management • posted 01/26/12
It's a changing world in the corprate finance organization. The need to bring strategic financial analysis and planning skill sets to the table is impacting financial executives from the CFO and controller on down. Controllers who want to keep their careers on track must move beyond the technical skills required to head the and accounting and financial controls function. Continue…
Applying Analytics to Boost Collections Performance
Article on Accounts Receivable • posted 01/24/12
Without a detailed analysis of customer segments and payment patterns, organizations tend to focus on chasing a few high-value customers month-to-month, when the majority of the actual past due balance may arise from some other customer segment. Leveraging analytics to better identify where the real problems lie, and then using that information to craft better, more effective collections strategies, is the key element in improving collections performance. Continue…
Prevent Financial Reporting Breakdowns Due to Sales ‘Side Agreements’ to Contracts
Article on SOX • posted 01/23/12
As part of their responsibility for implementing, documenting and maintaining adequate and effective internal controls, corporate controllers should be aware of potential issues in the relationship between the sales and Continue…
Integrated XBRL Solution Delivers Strong ROI at Anadarko Petroleum
Article on Legal/Legislation/Regulations/Compliance • posted 01/22/12
For public companies, in 2011 the SEC XBRL compliance mandate took effect--or grew more demanding--for all three tiers of filers. One controller explains why he his company decided to implement a single-source integrated solution, as opposed to oursourcing XBRL tagging, to meet this challenge--and reap other benefits. XBRL is not only of concern to public companies, however. As the standard goes global, it makes sense for controllers at private companies to adopt XBRL and realize the many advantages of interactive data for the internal financial systems of their companies--including to improve the accuracy, useability and speed of reporting and internal analysis. Continue…
