The Financial Controller and CFO's Toolkit
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Parmenter David. The Financial Controller and CFO's Toolkit
About the Author
Testimonials
Introduction
THE THIRD VERSION
HOW TO USE THE BOOK
THE PDF TOOLKIT
REPORTING HISTORY OR MAKING IT
Acknowledgments
Part I. Change – Why the Need and How to Lead
Chapter 1. Getting Your Finance Team Future Ready
A BURNING PLATFORM?
REPORTING HISTORY OR MAKING IT
LEAN MOVEMENT
IMPORTANCE OF ABANDONMENT
THE IMPORTANCE OF CHALLENGING THE STATUS QUO
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Chapter 2. Leading and Selling the Change
STEVE ZAFFRON AND DAVE LOGAN
HARRY MILLS
JOHN KOTTER
SELLING TO THE SENIOR MANAGEMENT TEAM
THE POWER OF THE FOCUS GROUP
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Part II. To Be Completed Before the Next Month-End
Chapter 3. Rapid Month-End Reporting: By Working Day Three or Less
RATING SCALE FOR MONTH-END REPORTING
BENEFITS OF QUICK MONTH-END REPORTING
IMPACT OF A QUICK MONTH-END ON THE FINANCE TEAM WORKLOAD
MAJOR STEPS YOU CAN DO BEFORE YOUR NEXT MONTH-END
MAJOR QUALITY ASSURANCE TASKS AFTER DAY 1
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Part III. Technologies to Adopt
Chapter 4. Future-Ready Technologies
BAN SPREADSHEETS FROM CORE FINANCE ROUTINES
SEVEN TECHNOLOGIES TO UNDERSTAND AND EVALUATE
PLANNING AND FORECASTING TOOLS
UPGRADE ACCOUNTS PAYABLE SYSTEMS
USING A REPORTING TOOL
TURBO YOUR G/L WITH A FRIENDLY FRONT END
CONSOLIDATION AND INTERCOMPANY SOFTWARE
COLLABORATIVE DISCLOSURE MANAGEMENT
PAPERLESS BOARD MEETING
MAXIMIZE THE USE OF THE EXISTING G/L
AVOIDING THE HARD SELL TO UPGRADE YOUR G/L
IMPLEMENTING A NEW SYSTEM
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Part IV. Progress You Need to Make within the Next Six Months
Chapter 5. Reduce Accounts Payable Volumes by 60 Percent
REMOVAL OF ALL CHARLES DICKENS PROCESSES
MOVE TO A PAPERLESS ACCOUNTS PAYABLE FUNCTION
GET YOUR ELECTRONIC ORDERING SYSTEM TO WORK
GET A PURCHASING CARD SYSTEM IMPLEMENTED AS SOON AS POSSIBLE
HOW THE PURCHASE CARD WORKS AT MONTH-END
THE BETTER PRACTICES WITH PURCHASE CARDS
CUT OFF ACCOUNTS PAYABLE ON THE LAST WORKING DAY
MOUNT THE LAST SIGNED CHECK ON THE CEO'S WALL
PERFORM FREQUENT DIRECT CREDIT PAYMENT RUNS
IMPROVE BUDGET HOLDERS' COOPERATION
SPEED UP BUDGET HOLDERS' CORRECTION OF OMISSIONS
A WELCOME LETTER TO ALL NEW BUDGET HOLDERS
INTRODUCE “SHAME AND NAME” LISTS
REWARD GOOD BUDGET HOLDER BEHAVIOR
HAVE A CLOSER RELATIONSHIP WITH YOUR MAIN SUPPLIERS
SELF-GENERATED INVOICES (BUYER-CREATED INVOICES)
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Chapter 6. Month-End Reporting Refinements
AVOID LATE TIMESHEETS
MINIMIZE BUDGET HOLDERS' MONTH-END REPORTING
AVOID THE REWRITING OF REPORTS
REPORTING BASED ON 4 OR 5 WEEKS
DELAY CHANGING YOUR ACCOUNTING SYSTEM
REMOVING SPREADSHEETS FROM THE MONTH-END ROUTINES
DAY ONE REPORTING AND VIRTUAL CLOSING
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Chapter 7. Lean Reporting – Informatively and Error Free
THE FOUNDATION STONES OF REPORTING
CONCISE, ONE-PAGE FORMATS
MORE EMPHASIS ON DAILY AND WEEKLY REPORTING
DESIGNING REPORTS AROUND CURRENT TECHNOLOGY
ERROR-FREE REPORTING
USING BEST-PRACTICE GRAPHICS
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Chapter 8. Lean Board Reporting
SELLING CHANGE TO THE BOARD
SCOPING OF THE INFORMATION REQUESTS
AVOIDING REWRITES OF BOARD REPORTS
PAPERLESS BOARD MEETING
INTRODUCE A CHANGE TO THE BOARD MEETING SCHEDULING
MISTAKES TO AVOID WITH THE FINANCE REPORT IN THE BOARD PAPERS
CONTINUALLY PURGING THE BOARD PAPERS
MOVING TO GOVERNANCE INFORMATION
A3 (FANFOLD) ONE-PAGE BOARD DASHBOARD
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Chapter 9. A Lean Annual Planning Process – Ten Working Days or Less!
LEADING AND SELLING THE CHANGE
FOUNDATION STONES OF A LEAN ANNUAL PLANNING PROCESS
EFFICIENT ANNUAL PLANNING PROCESSES
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Chapter 10. Lean and Smarter Work Methods
TECHNIQUES TO ADOPT FROM THE LEAN MOVEMENT
POST-IT REENGINEERING WORKSHOPS
ADOPTING SCRUM STAND-UP MEETINGS
ADOPT KANBAN BOARDS
TOYOTA'S 14 MANAGEMENT PRINCIPLES
GOLDEN RULES WITH EMAILS
THREE BOOKS TO READ
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Chapter 11. Effective Leadership, Growing and Retaining Talent
FOUNDATION STONES FOR LEADERSHIP THAT ATTRACTS
MAKING THE FINANCE TEAM A GREAT PLACE TO WORK
PUTTING THE FINANCE TEAM ON THE MAP
PERFORM AN IN-HOUSE CUSTOMER SATISFACTION SURVEY
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Chapter 12. Quick Annual Reporting: Within 15 Working Days Post Year-End
THE FIVE STAGES FOR A QUICK YEAR-END
SELL THE NEED FOR CHANGE
GET ORGANIZED
USE TECHNOLOGY TO SAVE TIME
MINIMIZE YEAR-END STRESS
CONTROL THE LAST MILE AND MAINTAINING QUALITY
SOME CASE STUDIES
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Chapter 13. Managing Your Accounts Receivable
OPERATIONAL IMPROVEMENTS TO ACCOUNTS RECEIVABLE
REPORTING ON YOUR ACCOUNTS RECEIVABLE
AVOIDING ACCOUNTS RECEIVABLE MONTH-END BOTTLENECKS
INCREASING THE USE OF DIRECT DEBITING CUSTOMERS' ACCOUNTS
DEBTORS' COLLECTION BEFORE YEAR-END
Chapter 14. Attracting and Recruiting Talent
EVER-PRESENT DANGER
THE NEED TO UP-SKILL
LAW OF ATTRACTION
THE RECRUITING MARATHON
DELIVER A GOOD INDUCTION
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Chapter 15. Lean Accounting
STREAMLINING THE CHART OF ACCOUNTS
AVOID MONTHLY COST APPORTIONMENT
VALUE-STREAM ACCOUNTING
ACTIVITY-BASED COSTING IS BROKEN
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Part V. How Finance Teams can Help their Organizations get Future Ready
Chapter 16. Implementing Quarterly Rolling Forecasting and Planning
SELLING AND LEADING THE CHANGE
ANNUAL PLANNING IS A QUESTIONABLE ACTIVITY
MYTHS AROUND ANNUAL PLANNING
QUARTERLY ROLLING FORECASTING AND PLANNING
THE FOUNDATION STONES OF A ROLLING FORECASTING AND PLANNING PROCESS
EFFICIENT FORECASTING AND PLANNING PROCESSES
IMPLEMENTING A QUARTERLY ROLLING FORECASTING AND PLANNING PROCESS
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Chapter 17. Finding Your Organization's Operational Critical Success Factors
BENEFITS OF UNDERSTANDING YOUR ORGANIZATION'S CRITICAL SUCCESS FACTORS
RELATIONSHIP AMONG CSFS, STRATEGY, AND KPIS
OPERATIONAL CRITICAL SUCCESS FACTORS VERSUS EXTERNAL OUTCOMES
FINDING YOUR ORGANIZATION'S CSFS
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Chapter 18. Getting Your KPIs to Work
KPI RESEARCH
THE MYTHS OF PERFORMANCE MEASURES
THE FOUR TYPES OF PERFORMANCE MEASURES
THE 10/80/10 RULE
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Chapter 19. Reporting Performance Measures
REPORTING THE KPIS TO MANAGEMENT AND STAFF
REPORTING OTHER PERFORMANCE MEASURES TO MANAGEMENT
REPORTING PROGRESS TO STAFF
REPORTING KEY RESULT INDICATORS TO THE BOARD
REPORTING TEAM PERFORMANCE MEASURES
HOW THE REPORTING OF PERFORMANCE MEASURES FITS TOGETHER
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Part VI. Areas where Costly Mistakes can be Made
Chapter 20. Performance Bonus Schemes
THE BILLION-DOLLAR GIVEAWAY
FOUNDATION STONES OF PERFORMANCE BONUS SCHEMES
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Chapter 21. Takeovers and Mergers
REASONS FOR A TAKEOVER OR MERGER
SOME BIG FAILURES
HOW TAKEOVERS OR MERGERS GO WRONG
ALTERNATIVES TO A ROTTEN TOM
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Chapter 22. The Hidden Costs of Reorganizations and Downsizing
RAMIFICATIONS AND ASSOCIATED COSTS
AN ADDICTION TO REORGANIZATIONS
TYPICAL REASONS FOR A REORGANIZATION
ALTERNATIVES TO A MAJOR REORGANIZATION
A CHECKLIST TO PUT YOU OFF A REORGANIZATION
HIDDEN COSTS OF DOWNSIZING
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Appendix A. Useful Letters and Memos
Appendix B. Rules for a Bulletproof Presentation
Appendix C. Satisfaction Survey for a Finance Team
FINANCE TEAM USER SATISFACTION QUESTIONNAIRE
Index
WILEY END USER LICENSE AGREEMENT
Отрывок из книги
David Parmenter is an international writer and speaker who is known for his engaging presentations and practical and informative books. His workshops have created substantial change in many attendees' organizations. David is a leading expert on lean finance team practices, rolling forecasting and planning, and the development of winning key performance indicators (KPIs). His work on KPIs is recognized internationally as a breakthrough in understanding how to make performance measures work. He has delivered interactive workshops in 31 countries over the last 20 years. David has worked for Ernst & Young, BP Oil Ltd., Arthur Andersen, and PricewaterhouseCoopers, and is a fellow of the Institute of Chartered Accountants in England and Wales. He is a regular writer for professional and business journals.
This book is a follow-on from Pareto's 80/20 Rule for Corporate Accountants and Winning CFOs – Implementing and Applying Better Practices. He is also the author of Key Performance Indicators: Developing, Implementing and Using Winning KPIs, Key Performance Indicators for Government and Non Profit Agencies: Implementing Winning KPIs, and The Leading-Edge Manager's Guide to Success (all from Wiley).
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The act of abandonment gives a tremendous sense of relief to the finance team, for it stops the past from haunting the future. It takes courage and conviction from the CFO. Knowing when to abandon and having the courage to do so are important leadership attributes.
I have included in the electronic media a book review of Elizabeth Haas Edersheim's The Definitive Drucker.9 Read the book for more on abandonment and his other great advice. I consider this book one of the top 10 management books I have read. I hope, like me, you will become a follower of the great Peter Drucker.
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