Posts by admin

Consolidating the Financial Statements? Another Vacation Cancelled!

Posted by on Feb 18, 2015 in Uncategorized | Comments Off

I have consistently observed that my friends from Finance are working during the times that most others are on vacation. This is especially true during quarter and year ends. Financial Consolidation can get quite complex, and the process of consolidation could be quite manual, even in many large organizations. The CFO’s goal is undoubtedly to push for faster and accurate close cycles. Many of the issues I am listing below are common to most organizations I have had the opportunity to observe and interact with: The organization has grown through mergers and acquisitions, and the...

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The Mission to Make the CFO’s life Easier

Posted by on Dec 19, 2014 in Featured | 0 comments

In today’s business context, life of a CFO is that of the radar as well as the captain of a moving ship. Today’s CFO is expected to contribute well beyond the traditional role of cost management and operational controls. The CFO needs to play a delicate balancing act across multiple dimensions, some of which include: Impact of globalization: having an effective finance function that can account for the increasing complexities of running a global business Regulatory adherence: Global regulatory requirements are constantly changing and continually increasing, and CFOs have a personal...

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Anytime, Anywhere, Actionable Financial Reports

Posted by on Dec 17, 2014 in Uncategorized | 0 comments

Today’s business context and priorities call for CFO’s to have access to their organization’s financial performance reports at all times. An effective CFO will detect financial performance trends early in the cycle, analyze the same in light of the various dynamics involved and initiate necessary course corrections. Timely and correct decision making can turn the fortunes of an organization, and in turn that of the CFO. To make this possible, the CFO inevitably needs access to actionable insights anytime, anywhere. While what most CFOs track, are somewhat similar, but still each...

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Magical Glasses for the CFO

Posted by on Nov 13, 2014 in Uncategorized | 0 comments

I am sure it is the aspiration of every CFO to simply wear a pair of magical glasses that immediately gives them a bird’s eye view of the financial health of their company. The needs of each business are different, and it indeed will be a tall order to build the perfect pair of magical glasses. However, it is also not so difficult to abstract the problem and arrive at a reasonably common set of indicators that CFOs need to track irrespective of their business. The process of mining the information and deriving meaningful intelligence from it should not in itself become nightmarish....

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Mandatory Consolidated Financial Statements as per Companies Act 2013

Posted by on Sep 24, 2014 in Featured | 0 comments

Under the new provisions of Companies Act 2013, any holding company (private or listed) shall prepare a Consolidated Financial Statement of the company alongwith its subsidiaries, associates and joint ventures and lay before the AGM. The earlier Companies Act only mandated listed companies to publish consolidated accounts. The Financial Statement shall be in the form as provided in Schedule III which is in line with Revised Schedule VI. In case subsidiaries, associates or JV’s have not been considered for consolidation, the same have to be disclosed alongwith reasons for non...

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