- Improving Financial Performance With a Cash Culture - Part IV
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- Part IV - Cash Management Strategies and Financial Discipline This four part series was developed from the webinar How to Foster a Cash Culture and Improve Financial Performance. In each section below we have included a link to the video message provided by the speakers, brief summaries of the lesson and specific actions you can take to improve the cash culture in your business.
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Take Assessment Watch Video- It is Possible to do More with Less and Create Greater Value
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- Have you heard this before? “As much as I’d like to add another person to your team, we just don’t have the money in the budget. See if you can spread the work across the existing team.”
- A Letter to Our Youngest Daughter - The Value of a Cup of Coffee, The Sequel
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- A number of years ago, I wrote our youngest daughter a letter about the value of a cup of coffee. (In case you forgot, here it is, A Letter to Our Youngest Daughter ). It was a playful yet important lesson in opportunity cost, financial responsibility, and the magic of compounding interest. What I didn’t anticipate was how she would take that lesson and apply it in ways far beyond what I imagined.
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
