Deloitte authors pen book for CFOs
When CFOs Debate, a new book released by Deloitte, is designed to help chief financial officers as they think through some of the most pressing issues they face and see all sides of the argument when it comes to critical business decisions. Issues covered in the book include: automating financial systems, providing earnings guidance, offshoring, investing in going "green," adopting International Financial Reporting Standards, and attracting and retaining the best talent.
"This is an unprecedented and demanding time for CFOs. They are torn between helping their company grow and scaling back to protect profits, building up cash to withstand the downturn or capitalizing on instability to gain market share and even whether to move into well-established countries for offshore operations or to seek out regions where costs are even lower. When CFOs Debate is a practical tool for CFOs designed to help them as they evaluate all possible outcomes of the choices they face and help in the decision-making process," said Sanford Cockrell III, national managing partner of Deloitte's U.S. CFO Program.
Sam Silvers, a Deloitte Consulting LLP principal and co-author of the book, added that while there may not be one right answer to each issue in the book, the information should help CFOs consider all of the variables and encourage them to bring others into the decision-making process. "It is the CFO's job to ask tough questions and demand clear answers and this book can enable them to offer key counterpoints in each debate," said Silvers.
Steven Ehrenhalt, also a co-author of the book and a principal with Deloitte Consulting, added, "One of the most challenging parts of a CFO's job is to be the voice of reason, making sure that each investment has a strong business case and making sure that critical activities receive the funding and support they require - whether business is booming or experiencing a downturn."
Some of issues examined in the book include:
- Hire now or later - for current skills or future potential?
- The great divide - separate finance and accounting?
- Over there? How much offshoring makes sense?
- In a fix? Should we improve our systems and processes before we outsource?
- The end of the waiting game - move to IFRS now, or hold until the SEC requires it?
- Decisions. Decisions. How much support should be automated?
- Tick, tick, tick. Do it right or do it fast?
- Playing the game - should we provide earnings guidance?
- Going green - should finance take action on sustainability?
When CFOs Debate is available as a PDF download.