A new era of business is dawning as organizations look for finance staff—from the C-suite to entry-level—with a broader mix of competencies that include the application of financial disciplines in the management of the business. Employers are looking for finance professionals with management accounting skills, business skills and the potential to be strategic business partners.
CFOs have plenty to worry about these days—but the one issue that continues to arise is talent. “It’s all about people,” said Nick Araco, CEO of the CFO Alliance in a recent CGMA Magazine article. “Most of the dialogue we’re having is going back to talent, regardless of whether we’re talking about strategy, or capital structures, or regulatory environments, the people side pops into every conversation.” The fact is, there is a shortage of finance professionals with business-partnering skills.
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Open the newspaper, and you’ll find no shortage of stories about sensitive corporate information getting into the wrong hands. How can you ensure this doesn’t happen to your organization? Solid IT policies and procedures. They are critical components of an organization’s umbrella IT strategic plan and are designed to prevent serious operational problems. In general, security policy and procedures include assessing your organization’s assets and holdings, evaluating them against threats or risks for exposure and having the right tools and techniques in place to manage those threats and risks.
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Last month marked my fourth Financial Literacy Month at the AICPA. It’s amazing how much the landscape and messaging has changed in just a few years. While our outreach and exposure for the program has grown, our actual messages to individuals have become shorter. We have moved from lengthy articles on our websites, to a few sentences on Facebook and now to singular images on Tumblr. In a world where younger audiences are looking increasingly to online sources for financial advice, how do we accurately communicate financial literacy lessons with just one animated photo and a few words?
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Many retirees see their home as a symbol of comfort and independence that they want to keep as long as possible. However, far too often, reality turns out differently. Most conventional homes present accessibility problems that impair the comfort and independence of elderly people, requiring expensive modifications or an unplanned move to an assisted living facility caused by a health crisis.
Whether you’re advising clients ten years into their retirement or helping middle-aged clients plan for their golden years, you’re doing them a disservice if you don’t bring up the sometimes uncomfortable discussion of retirement housing and end-of-life care.
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There are roughly 1.5 million nonprofit organizations in the United States. Many of them are grassroots organizations run by well-meaning volunteers who are committed to the group’s mission, but who may not have knowledge of the numerous complicated rules governing not-for-profits. I learned of these complexities when I joined the board of an all-volunteer sports league in my community. I'm sure many practitioners can relate: because I am a CPA, of course, I was elected treasurer. In this role I gained a deeper understanding of not-for-profit finances. As a result, I've learned three things not-for-profits need to understand about their finances in order to run a more effective organization.
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