256 Posts found for Source: Business Finance Magazine

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The internal audit landscape may never be the same — and the picture is looking very different from one company to the next.

Content: Article | Author: Eric Krell | Source: Business Finance Magazine | Subjects: Accounting, Finance

Best practices in business performance management often start as a grassroots movement. The companies most likely to succeed take five basic actions.

Content: Article | Author: Tad Leahy | Source: Business Finance Magazine | Subjects: Finance, Management

Expense Management Automation (EMA) software helps companies control spending by automating the filing, approval and payment of employee expense reports.

Content: Article | Author: Samuel Greengard | Source: Business Finance Magazine | Subjects: Finance, IT / Technology / E-Business

Integrating and streamlining payroll systems helps companies build efficiency and improve business strategy.

Content: Article | Author: Samuel Greengard | Source: Business Finance Magazine | Subjects: Finance, Human Resources

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Protecting information systems is as much a financial issue as a technical one. Understanding risks, benefits and costs is a key concern.

Content: Article | Author: Samuel Greengard | Source: Business Finance Magazine | Subjects: Finance, IT / Technology / E-Business

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Combining financial and nonfinancial measures to get a true picture of business performance requires an understanding of how four basic perspectives of the Balanced Scorecard click.

Content: Article | Author: Ivy McLemore | Source: Business Finance Magazine | Subjects: Management, Strategy

The Balanced Scorecard has helped Boeing, Sears and other companies achieve radical improvements in their management systems’ performance. The key to capitalizing on this tool is customizing it for your company’s needs.

Content: Article | Author: Ivy McLemore | Source: Business Finance Magazine | Subjects: Management, Strategy

While CEOs realize they can count on financial executives to know the value of the company’s tangible assets, they may not be so sure that their CFO has a firm grasp on how the company stacks up when it comes to intellectual capital, new product effectiveness or relationships with customers. If you haven’t made any effort in measuring the value of these assets, maybe it’s … [ Read more ]

Content: Article | Author: Tad Leahy | Source: Business Finance Magazine | Subjects: Finance, Management

A VBM initiative should pursue three objectives, according to Olsen. First, it should work to increase returns from existing assets. Second, it needs to help senior management make incremental investments that have rates of return above the company’s cost of capital. And third, it should free up cash and return it to investors when profitable investments are not available.

Measures that do not incorporate all three … [ Read more ]

Content: Quotation | Source: Business Finance Magazine | Subjects: Finance, Management

CEOs increasingly look to financial managers to implement Economic Value Added (EVA) to increase shareholder value. EVA can be challenging to implement, but far from impossible – as long as executive compensation is tied in.

Content: Article | Author: Ivy McLemore | Source: Business Finance Magazine | Subjects: Finance, Management

The earnings game is bizarre because it consumes a huge amount of time and energy in managing earnings rather than managing the company.

The presumption is that value revolves around one number: earnings. But even if that number is accurate, it is only a very small part of the story. What’s strange is that there is strong agreement between management and the market that it’s crucial … [ Read more ]

Content: Quotation | Source: Business Finance Magazine | Subjects: Finance, Management

The problem with the Balanced Scorecard is it doesn’t give you an actual score of how your company is doing. For instance, if you were playing basketball, the Balanced Scorecard could tell you the number of rebounds, turnovers, blocked shots and a lot of other statistics about the game, all of which help to some extent, but it couldn’t tell you the score. EVA provides … [ Read more ]

Content: Quotation | Source: Business Finance Magazine | Subjects: Finance, Management

The outsourcing of business processes, particularly in finance and accounting, is moving to a higher level, requiring greater attention to the tactics of sourcing management.

Content: Article | Author: Eric Krell | Source: Business Finance Magazine | Subjects: Finance, Outsourcing / BPO

Improving and sustaining performance through value-based management requires fundamental cultural changes from top to bottom of the organization. Abandoning the traditional budget and the earnings game are prerequisites.

Content: Article | Author: Fay Hansen | Source: Business Finance Magazine | Subjects: Finance, Management

The dark cloud hanging over the budget process is that people know they will be measured against the plan, so they aim low to increase their chance of success. They plan for mediocrity. The decision to tie rewards to budgets has done more damage to American industry than any decision in history.

The budget process is typically focused on current-period profit and loss drivers, with almost … [ Read more ]

Content: Quotation | Source: Business Finance Magazine | Subjects: Management, Organizational Behavior

Measures of value creation are effective at getting managers and executives to focus on both the balance sheet and the P&L statement. The trick is to make a value measure relevant to all employees so they manage the company’s capital as if it were their own.

Content: Article | Author: Joanne Sammer | Source: Business Finance Magazine | Subjects: Finance, Management

No single set of EVA metrics works well for all companies. The metrics you need depend on your organization’s specific strategies for increasing value.

Content: Article | Author: Tad Leahy | Source: Business Finance Magazine | Subjects: Finance, Management