8 Steps to Successful Profitability Analysis

When a company is losing money, the focus is on how to reverse that trend. When your revenue exceeds your expenses, however, an organization may be in less of a hurry to break that information down – which is where profitability analysis comes into play. The truth is, while you may be turning a profit, […]

Are you Ready for the New Lease Accounting Rules?

It is not too early to start implementing FASB ASC-842 and plan ahead. If you’re with a US publicly held company, you are certainly already involved in implementing FASB ASC-842 (Accounting Standards Codification – Topic 842 – Lease Accounting).  Privately held companies have an extra year (unless they choose to adopt early) but must be […]

Workday Study Shows Importance of Data on Financials

In a recent study conducted by Workday, researchers found that CFOs that are leveraging the power of data analytics in finance are seeing impressive benefits. Yet only 35 percent of the 670 respondents indicated they are making extensive use of these approaches and tools that yield deeper insights. If the benefits are so great, what […]

Beware the Error: How Spreadsheets Can Ruin Trust with Leadership

Any leader will tell you that trust is a critical component of business. Customers respond positively to businesses they trust, and abandon those they don’t. Good managers spend at least part of their day building and establishing trust with their employees. Employees know that company leaders need to trust them to do their jobs, and […]

Falling Short – Excel and Financial Reporting Problems

When it comes to financial reporting, Excel is the go-to for many companies, from small start-ups to larger corporations. In fact, the Financial Executives Research Foundation reported that 69% of companies surveyed continue to use Excel as their main tool for budgeting and planning, despite all of the issues with using spreadsheets for this purpose. […]

Big Data and Financial Reporting

Financial reporting has been the life-blood and focus of companies since the beginning of time. A few things have changed though, like the size of the numbers, the technology used to look at them, and how we share that information throughout an organization. But looking at what financials can tell us has pretty much remained […]

Dashboards Provide Financial Reporting That is Pretty as a Picture

Mature businesses, regardless of size, know that understanding their customers, their industry, and their partners is important to being successful. They also know that long gone are the days of having a gut feeling about what works for each of those groups. Customers perpetually surprise us with what they need and want. Even the most […]

The Value of Self-Service Financial Reporting

Financial reporting is a critical task for any organization. Understanding where your actual financials stand in relation to budgets and projections is important to keeping your business on track and in helping to create new projections and budgets. Yet the modern business environment is much more fluid than the occasional re-aligning with budgets allows for. […]

Analytics vs. Financial Reporting (Part 2)

Two seemingly similar processes with very different purposes and outcomes In the first part of this article we saw the distinct differences between reporting and analytics, the purposes they serve and the large amounts of data used in both processes. So what do you do with this data? First, GL data is used to construct […]

Analytics vs. Financial Reporting (Part 1)

Two seemingly similar processes with very different purposes and outcomes The title of this article does not imply a sporting event, nor does it suggest legal action. In our world of finance, it simply denotes two specific processes conducted in the finance department of most organizations. On the surface, one may conclude that both processes […]