Opinion
CFOs Need to Regain the Initiative in Inventory Management
Facing multiple economic pressures, inventory management has become a focus for CFOs. EY expert Peter Kingma advises CFOs to optimize inventory by challenging assumptions, clarifying decision rights, and becoming proactive investors, while leveraging AI for scenario planning to navigate an uncertain environment.
A Six-Step Guide for CFOs in Layoff Communication: From Preparation to Aftercare
Layoffs are one of the toughest decisions CFOs face, involving employee livelihoods and corporate interests. Based on recent layoff communication missteps at companies like Google and Twitter, this article proposes a six-step professional communication framework: developing a communication plan in advance, clarifying notification hierarchy and methods, showing empathy, responding quickly to compensation issues, maintaining transparency and accountability, and having senior executives continuously engage in external communication. These steps aim to alleviate the pain of layoffs, ensuring messages are delivered clearly, humanely, and in line with corporate values.
The Evolution of Financial Services, the Black Community in America, and DEI
Against the backdrop of increasingly widespread DEI (Diversity, Equity, and Inclusion) initiatives, Black professionals account for only 13% of the U.S. financial services workforce, and only 8% of C-suite executives are Black. Christopher Johnson, President of Global Financial Services at Pitney Bowes, drawing on his own experience, points out that systemic barriers still exist and proposes four concrete actions: increasing participation rates, reforming credit assessment, shifting to skills-based hiring, and cultivating the next generation of Black leaders, urging the industry to open dialogue to catalyze change.
How CFOs Can Address Inflation's Squeeze on Supply Chains: Key Strategies and Practices
Persistent inflation continues to impact supply chains, with CFOs facing rising costs for raw materials, transportation, energy, and labor challenges. This article proposes three key practices: optimizing inventory management to balance agility and resilience, using financial derivatives to hedge against energy price volatility, and integrating scenario planning with short-term cash flow forecasting to develop medium- and long-term strategies, thereby maintaining profitability in an uncertain environment.
CFOs Focus on Talent Strategy and Return-to-Office Issues
In an article by Kathryn Kaminsky, Vice Chair of PwC US, she notes that CFOs are placing talent strategy at the core, rethinking the role of the office and hybrid work models, while addressing multiple challenges such as inflation, tight labor markets, and a potential economic recession.
Why Accounts Receivable Should Be a Priority for Businesses in 2023: Three Core Reasons
As revenue rebounds in 2022, businesses still need to be wary of future uncertainties. This article argues why accounts receivable should be a priority in 2023 from three perspectives: rising default risks, high hidden costs of overdue receivables, and the importance of prompt collection in maintaining customer relationships, supported by quantitative data.
S&P Global CFO: Financial stewards still need to be prudent in 2023
In this article, Ewout Steenbergen, CFO of S&P Global, reviews the execution journey after the company completed its merger with IHS Markit in 2022, and looks ahead to 2023: despite ongoing macroeconomic uncertainty, there may be opportunities for accelerated growth in the second half of the year. He proposes that CFOs should adhere to 'future-proofing' investments, tell the story of corporate purpose, and embrace digital tools such as artificial intelligence and machine learning, thereby laying the foundation for 2023 and beyond.
Post-FTX Era: Three Reforms the Cryptocurrency Industry Urgently Needs
The collapse of FTX revealed systemic flaws in the cryptocurrency industry regarding risk management, regulatory arbitrage, and centralized power concentration. Metallicus Chief Financial Officer Irina Berkon proposes three key reforms: adopting true decentralized architecture to protect user assets, curbing global regulatory arbitrage, and building a compliant future through forward-looking legislation and technical solutions.
Tax Implications of Remote Work: Cross-Border Pension Planning Challenges Under the U.S. Tax System
With the rise of remote work, cross-border employee mobility has increased, but participation in non-U.S. retirement plans may trigger U.S. tax reporting and payment obligations. ADP research shows that 43% of employees consider relocating overseas, and KPMG reports indicate that tax laws are a major challenge for cross-border remote work. Under the U.S. global taxation system, employers and employees need to be vigilant about compliance risks and consult tax advisors in advance.
A Holistic Approach to ASC 740 Compliance: From Tax Provision to Audit Readiness
With the Biden administration driving new tax law changes, corporate tax departments are once again facing widespread compliance pressures. The accuracy of ASC 740 (Accounting Standards Codification Topic 740) remains one of the primary causes of financial restatements and material weaknesses. This article analyzes the key aspects of tax provision calculations, the core role of workpapers in audits, the limitations of current workflow tools, and future trends toward end-to-end compliance management through technological integration.