The Ledger

Curated content for
analytical business leaders

SF Magazine: Looking Toward 2021

“The pandemic has tested the mettle of most CFOs, regardless of what industry they work in, and it has permanently changed their roles. As Judy Munro explains, COVID has underscored the need for FP&A talent in the finance department, spearheaded by access to data. “The CFOs are embracing technology in a big way to gain the insights they need in highly volatile times.””

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CFO Magazine: Producing Management Reports Faster: Metric of the Month

“When managers get timely and accurate period-end reports, they have more time to make better decisions during the next period and to make any needed adjustments. An efficient and accurate process also means fewer work spikes at the end of the period and more time for activities that help drive the business forward. More broadly, an optimized period-end reporting process means that you’ve put in the work to make sure your team is well-organized and equipped with the right data and technology, which benefits not just this process but many others.”

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Forbes: Speeding Towards Transformation: 2021 Trends In Finance And Accounting

Jeff Thomson’s “top 6 mega-trend predictions for 2021 in finance and accounting”:

  1. Automation will no longer be debated
  2. Remote working will become the norm for finance teams
  3. Environment, Social and Governance (ESG) reporting will become more important
  4. Enterprise Risk Management (ERM) becomes a finance accountability
  5. Diversity, Equity and Inclusion (DE&I) will be a competitive differentiator, in addition to being the right thing to do from a core values perspective
  6. Upskilling is the call-to-action

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CFO Dive: Careful pruning, not blanket cuts, aids post-pandemic growth

“”During financial uncertainty, many business owners react on their gut,” Stephen King, president and CEO of GrowthForce, an outsourced bookkeeping, accounting and controller services, said. “This is the worst thing you can do, as it can lead to detrimental decisions you can’t pull yourself out of.”

Before making cost-cutting decisions, get the data you need and study above-the-line and below-the-line costs, advises King, a business owner who has survived five recessions. Data-intensive management reports will help clearly lay out those expenses.”

Read More at CFO Dive >