CFO.com, June 18, 2009
Corporate treasurers at the CFO Core Concerns Conference agreed that cash and liquidity are their primary focus. This article explains the reason for this dramatic priority shift, four other top concerns from a National Association of Corporate Treasurers Survey and the heightened role a shock-proof balance sheet can play during financially charged times.
Financial Executives International, May 8, 2009
Many of the world’s most influential financial leaders attended the Financial Reporting in a Changing World Conference, hosted by the European Commission. Speakers included EU Internal Markets Commissioner Charlie McCreevy and IASB member John Smith, who addressed such top-of-mind issues as politics and accounting, a global set of standards, fair value, loan-loss provisioning, and consolidation and derecognition.
Recessions—roughly two per decade—have occurred quite regularly since World War II. Most last less than four quarters, according to International Monetary Fund data. But the depth and breadth of recessions are notoriously difficult to predict.
Continue reading "Economic Outlook Remains Uncertain" »CFO Magazine, May 2009
There is no doubt that today’s economy has dealt a critical blow to many businesses. Yet, it has reinvigorated a once-marginalized group – creditors – that is now presenting new challenges to CFOs at companies that may not be down for the count, but are fighting to stay in the game. However, the right guidance can help CFOs and their companies know when they have entered the zone of insolvency, and respond to the often competing obligations and demands of creditors and shareholders.
In the first quarter of 2009, 22% of CPA financial executives said previous sources of credit had dried up, according to the AICPA/UNC Kenan-Flagler Economic Outlook Survey. As a result, many businesses are shopping for new loan sources. Consider the following points before you talk to a lender.
In recent months, economic turmoil has affected nearly everyone from Wall Street to Main Street. Regulations are bringing increasing complexity into a CPA’s daily work. How do you convey to boards of directors and audit committees the level at which the various issues presented by the economic crisis affect your business?
The AICPA has created a Microsoft PowerPoint presentation entitled “Navigating the Current Economic Crisis: What It Means for Businesses.” The notes and their corresponding slides provide a concise and effective way for you to communicate to stakeholders the issues that companies are facing.
A sound business strategy is important no matter what the state of the economy. As you work with clients to determine the best methods of surviving the recession, be sure to discuss the following critical points for seizing opportunities to refocus, contain expenses and reassure customers.
On December 10, 2008, as one of its final acts, the 110th Congress adjusted pension funding rules to help ease a short-term cash squeeze created by the economic collapse. But new data, including a year-end drop in interest rates that boosted required contributions, show the crunch is worse than anticipated when Congress acted. This article explains how economic forces have created a cash flow problem for many American businesses and what additional action is needed to help the economy and protect workers.
Continue reading "Temporary Pension Relief Will Aid Economy, Protect Workers" »CPAs in government are in a unique position to offer their professional skills and knowledge to government programs and operations as federal, state and local entities consider alternatives and options to weather the economic storm. As a follow up to their January 2009 Government Accountability Brief, members of the AICPA’s Government Performance and Accountability Committee (GPAC) provide their practical suggestions for improvement.
Read More (PDF) Listen to these FREE audio Infocast discussions from a year-long series on helping organizations survive the current economic crisis.
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This course illustrates how accounting functions can be aligned with lean goals and lean performance measures and how your firm or client can make a smooth and successful transformation to a lean accounting function.
This guide explains how CPAs and financial managers can manage their company's short-term resources to sustain ongoing activities, mobilize funds and optimize liquidity.
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