CFOs don’t like surprises. They’re often the ones who have to deal with the fallout from an unexpected event or a sudden demand by a powerful board. Thankfully, when it comes to changes in financial-reporting rules and trends, companies usually have lots of lead time before they feel compelled to incorporate any changes. If they have the resources, the smart ones take the time to influence new standards and give them a tryout before everyone else has to adopt them.
This CFO eBrief will explore several changes underfoot to financial reporting, to help CFOs determine how they dedicate resources to these burgeoning issues. Some of the changes will result in an expansion of the type of information CFOs share with investors while others will actually make some of their work easier, and maybe even less expensive.
Topics covered in the Financial Reporting include:
- Asking the age-old question of whether finance departments should stop relying so heavily on spreadsheets and introduce more automation into how they generate their financial statements;
- Determining the costs and benefits of “going green,” and cluing investors in to those figures;
- Placing a value on employees through human-capital financial statements;
- Figuring out the various proposals underway for accounting standards customized for privately held companies.