The Ledger

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analytical business leaders

CFO Magazine: The Complexities of a COVID-19 Year-End

“As CFOs face the demands of year-end accounting and financial reporting, they’re pondering which issues need to be front and center and how to frame them.”

Here are the 4 issues that CFO’s need to think about:

  1. Forecasting and related impairment analyses
  2. Going concern analysis
  3. Internal controls
  4. Stakeholder communications

Read More at CFO Magazine >

CFO Journal: Financial Reporting Trends: Forecasting, Communication, Internal Controls

“While there is not a one-size-fits-all approach to addressing current forecasting challenges, the following strategies have proven to be effective for a number of companies:

  • Evaluating recovery and financial forecasts from an outside-in perspective first—specifically, focusing on the factors, issues, and conditions outside of a company’s control that are known and knowable
  • Automating components of forecasting to help remove bias and facilitate more real-time and frequent reforecasting as key drivers and trends change, while also analyzing data at a more detailed level
  • Considering facts that both support and contradict assumptions regarding the company’s timing and pattern of recovery, sustainability, and growth.”

Read More at Wall Street Journal >

CFO Dive: 5 CFO trends to watch in 2021

Real-time data makes the list, again, in trends for CFOs to pay attention to this year. Here are all five trends from Jim Tyson:

1. Increased pressure to adopt ESG metrics

2. The countdown to LIBOR’s end will grow louder

3. Targeted, AI-assisted zero-based budgeting will outlast the pandemic

4. CFOs will try to expand use of real-time data

5. CFOs will try to find the best post-pandemic balance of remote and in-office work

Read More at CFO Dive >

Forbes: From Bookkeeper To Business Leader: How Finance Pros Shape Strategy And Culture

“The finance profession has evolved from a singular focus on financial reporting to a strategic role in helping advance core business goals and reacting to seismic challenges. The Covid-19 crisis has illustrated and arguably accelerated this trend, especially as it concerns risk mitigation, supply chain management and radically re-orienting corporate strategy amidst one of the biggest global crises of our time.”

Read More at Forbes >