Forecast and Monitor your Key Financial Ratios

How key financial ratios can be forecasted with Budget Maestro and Displayed in Analytics Maestro I recently posted a series of articles on this blog on the importance of forecasting a company’s balance sheet and how the financial health of the organization can be predicted using data available from the actual accounting system and from […]

Why you Must Forecast your Balance Sheet – Part 2

It is not as hard as you think and the results will greatly justify the effort In the first part of this series we saw why we need to be able to forecast our company’s balance sheet. In this installment we will see examples of how a forecasted balance sheet is constructed and a software […]

Why you Must Forecast your Balance Sheet – Part 1

It is not as hard as you think and the results will greatly justify the effort I have written several times on this blog about forecasting a company’s balance sheet and the many benefits one gets from it. If this is so beneficial, then why is this so hard if not impossible to do using […]

The Ideal CFO Skills

What qualities are essential and what CFOs should really focus on There was a recent discussion topic on Proformative.com titled “The Ideal CFO Skills” .  It evolved from a question by a Proformative member trying to get a better understanding of what CFOs should devote their time to and what basic skills they must possess in order to […]

A New Way to Look at Accounting Data

How a software solution changed the way I look at financial data. I usually don’t rush out to purchase the latest and greatest technology products; I hardly ever jump on every software or hardware upgrade that becomes available. I just seem to be happy with the software tools I use in my everyday work, as […]

Treat Every Month-End Close as if it Were a Quarter or Year-End Close

Why each monthly close should be as complete as practically possible Recently there was a great question on the Proformative.com site which reminded me of a similar situation I was in when working as a controller in the hi-tech industry. The question was: Do you treat a Month-End close differently than a Quarter-End close, or […]

Replace Excel with a Dedicated Planning, Budgeting and Analysis Solution

But make sure that moving away from spreadsheets doesn’t land you back in the same spot. I read a recent article on TechTarget.com titled “How to know when it’s time to dump Excel for BP&F software”, authored by Linda Rosencrance. It lists and explains seven distinct signs showing that it is a good idea to move […]

Become Your Company’s Chief Future Officer

Why CFOs must be able to predict their companies’ future and how they can do it Proformative.com, a premier website for accounting and finance professionals recently announced their annual CFO Dimension conference to be held this year in New York City on the 19th and 20th of October, 2015. This year’s conference theme is “The CFO as […]

Accurately Calculate the Total Cost of your Employees

How to best approach planning & budgeting of payroll and related expenses A while ago there was a member question on the Proformative.com site about calculating total cost of employees.  This question has come up several times on this forum in recent years and clearly represents a challenge finance personnel and departmental managers face. I personally remember […]

Closing the Books Faster?

The benefits of a quicker close process… Hyoun Park, founder and principal consultant at DataHive Consulting, recently posted “Five Steps to Closing the Books Faster” on SearchFinancialApplications.com.  He listed five steps that an accounting and finance department take in order to close the accounting period quicker.  “Closing” faster has been a popular topic of discussion […]