- The Perils of Ignoring The Income Trap
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- In Do You Know What the Income Trap Is? Joe Connors introduced us to a malady inflicting many business leaders, The Income Trap. It’s a trap that occurs when a business spends too much time on the income statement at the expense of prudently managing the company’s financial reserves on the balance sheet. By comparing examples of companies like Enron and Amazon, and personal anecdotes, Joe illustrates how focusing solely on income can lead to financial instability.
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Take Assessment Watch Video- Is Your Competitive Philosophy Building or Killing Your Culture?
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- Think about the last time you were really stressed out or discontent. How did it make you feel? I know when I get that way, my palms get sweaty, my stomach goes in knots and I feel almost paralyzed. The last thing I’m thinking about is how productive I am at work or the next big thing that’s going to help change my company. So, I can give you statistics about how happier employees or less stressed out employees are going to make your company more profitable. But you probably already know that.
- CFO Talk: Analytics Based EPM with Gary Cokins
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- In this CFO Talk CFO.University Contributor, Gary Cokins describes, 1.The forces that are forcing CFOs to implement Enterprise Performance Management (EPM) methods. 2. How rapid prototyping solves key problems frequently faced in EPM implementations. 3. Why operations trained staff understand costing better than accountants. (yep, you read that right) . 4. Lessons from his past EPM successes. Enjoy the CFO Talk with Gary and visit his library on CFO.University, https://cfo.university/library/contributor/gary-cokins
Governance & Controls – structure and controls.
Transaction Recording – systems, transaction processing and closing the books.
Reporting - efficient, timely and accurate information for decision making and meeting compliance requirements.
Accounting
Business Planning - provide the financial roadmap for the company with supporting analytics.
Financial Forecasting - integrate the company’s current performance relative to budget with the real-time business environment.
Investment Analysis - the framework to analyze new opportunities as they present themselves.
Finance
Cash Management - the discipline to ensure cash is available to operate the business normally.
Funding - Planning for and raising funds to meet the needs of the business.
Risk Management – Identification and mitigation of key business risks.
Treasury
Self-Awareness - Internal.
Team Building - External.
Strategy & Culture – Motivate people to follow you.
Leadership
Four Pillars of Executive Expertise
CFO.University is built around the Four Pillars of CFO Success. These Pillars are supported with Core Competencies. Our framework allows you to master your role as a senior financial officer. The Four Pillars are made up of:
Accounting – Governance & Controls, Transaction Recording and Reporting
Finance – Business Planning, Financial Forecasting and Investment Analysis
Treasury – Cash Management, Funding (Capital Raising) and Risk Management
Leadership – Self Awareness, Team Building and Strategy & Culture
