Latest news
Facing market turmoil caused by the pandemic, Vena Solutions CFO Darrell Cox shares how his company tackled challenges with agile financial planning: from adjusting sales quotas and multi-scenario stress testing to closely tracking key metrics like customer churn, and leveraging automation tools for rapid decision-making. He believes that finance-led agile planning will be key to restoring normal operations and achieving long-term growth.
Facing the uncertainty brought by COVID-19, finance teams need to adopt real-time planning methods, using scenario modeling and simulation tools to answer key 'what-if' questions. Accenture experts propose four steps: determining the forecasting time horizon, identifying financial drivers, modeling changes in external factors, and creating agile planning processes.
The pandemic has led many employees to work from home, a practical measure that nonetheless raises complex issues such as cross-state tax nexus, payroll taxes, and individual income tax attribution. States have differing regulatory stances, with some lacking clear guidance, leaving businesses in compliance gaps. This article reviews nexus determination standards, individual income tax rules, employee work location tracking, and congressional legislative progress to help CFOs address potential tax risks.
Subscription models are becoming increasingly prevalent, and CFOs need to balance financial discipline with strategic flexibility. This article offers three recommendations: keeping revenue recognition within the ERP, focusing on long-term reporting and analysis, and concentrating on customer lifetime value.
In large enterprises, overpayments in the source-to-pay (S2P) process are nearly unavoidable, and CFOs are increasingly incorporating recovery audit into this process. Written by Mark Irwin, Vice President of Audit Operations at PRGX, this article analyzes the reasons for the rise of recovery audit, common sources of errors, and proposes six core steps to ensure audit success, including securing internal support, maintaining a global perspective, handling supplier relationships sensitively, proactive communication, leveraging technology, and matching the scale of the audit partner.
Against the backdrop of LIBOR's impending exit, regulators and industry organizations urge CFOs to act early. Delay may lead to crowded-out customer negotiations, legal disputes, and reputational damage. ARRC has selected SOFR as the replacement rate, but the transition involves a large number of legacy contracts that require a systematic response.
In 2020, businesses face the triple risks of the COVID-19 pandemic, social unrest, and hurricane season. This article reviews relevant coverage under business interruption insurance, current litigation and legislative developments, and provides claims strategy recommendations for corporate financial officers.
The U.S. Congress passed the CARES Act to retroactively correct the drafting error in the Tax Cuts and Jobs Act regarding Qualified Improvement Property (QIP), restoring its 15-year depreciation period and making it eligible for 100% bonus depreciation. Businesses can claim refunds or change accounting methods for QIP placed in service in 2018 and later, but must comprehensively evaluate the cascading effects on other provisions such as NOL carryforwards and interest expense.
The COVID-19 pandemic has warned companies to address potential impacts on cash flow and operations. Due to strict regulation, the insurance industry's ERM framework serves as the best reference. This article, authored by Jim Toole, Senior Managing Director at FTI Consulting, details the definition of ERM, a six-step management process, and insurance industry practices, emphasizing that through risk quantification, integration, and proactive management, companies can reduce volatility, improve capital efficiency, and enhance stakeholder confidence.
The pandemic has forced companies to compress their annual strategic cycle into a few weeks. Jason Maynard, Senior Vice President of Global Field Operations at Oracle NetSuite, notes that CFOs play a central coordinating role in this process, needing to make quick decisions across vision updates, scenario modeling, KPI resets, and supply chain resilience building. Through cases such as Bedford Industries, Dippin' Daisy's, and TOV Furniture, the article distills three principles for CFOs to navigate uncertainty: maintain visibility, strengthen control, and foster agility.