 |
The CFO' s position
description has changed in recent years, from the proverbial "bean counter"
to the CEO's strategic right arm. While providing financial information
is important, CFOs are now focused on high quality management information
that leads to knowledge. While providing decision making support is important,
leading strategic projects is now critical. While measuring net income
is important, measuring economic value added is now paramount. CFOs are
rethinking their roles to better meet the organization's needs.
Greaver and Associates
has provided consulting services to identify and evaluate the organization's
emerging needs, designed the solution, and implemented that solution.
For a listing of financial reference materials, click
here.
There are a host of
outsiders who analyze an organization's financial statements, from capital
markets (e.g. investors, creditors, etc.) to regulatory authorities (e.g.,
SEC, IRS, etc.), to unions to competitors. Indeed, most of these outsiders
are also making projections as to the organization's future financial
results as well. Accordingly, the organization must improve its analysis
and forecasting. These techniques have become more sophisticated, from
ratio analysis to regression models to make or buy simulation decisions,
to activity-based budgeting. The availability of inexpensive and powerful
desktop computing allows financial personnel to perform much more than
previously imagined.
Greaver and Associates
has provided consulting services to significantly upgrade the existing
financial analysis and forecasting techniques used in most organizations,
design the solution, and implement that solution. For a listing of financial
reference materials, click here.
How much should the
bonus pool be for management in a given year? This is the basic question
that Boards of Directors (and institutional investors) wrestle with. Everyone
agrees that pay-for-performance is a good idea, but what is good performance.
Economic value added is a newer tool for measuring an organizations real
profit. In simple terms, it equals the organization's net operating income
after taxes minus a charge for the cost of capital invested in the business.
In effect, management's real contribution to building shareholder value
can be measured.
Greaver and Associates
has provided consulting services to design and implement economic value
added models for use in organizations. For a listing of financial reference
materials, click here.
Organizations should
have performance measures for their significant activities that support
their strategies. Performance measures will vary by type of organization;
however, there are a number of generic measures, for: productivity, quality,
timeliness, cycle time, utilization, creativity, outputs, and financial
results. These measures indicate a baseline against which improvement
can be quantified.
Greaver and Associates
has provided consulting services to identify and evaluate the existing
performance measures, design improved measures, and implement those measures.
For a listing of financial reference materials, click
here.
Management audits
appraise the quality of managers and more specifically, their ability
to accomplish specific objectives as well as assigned tasks. Such an audit
centers on evaluating management's effectiveness in accomplishing organizational
objectives, performing the management functions of planning, organization,
directing, and controlling, and making managerial decisions that move
toward stated plans and objectives. As importantly, management auditing
can identify poor performance and the cost of such failure.
Greaver and Associates
has provided management auditing services to identify and evaluate the
existing problems, design the solution, and implement that solution. For
a listing of financial reference materials, click
here.
In matters of dispute
and other complicated business claims, the need for an expert witness
can be real. This may involve applying financial analysis techniques,
forensic investigation, technology, or strategic advice to support decision-making.
Greaver and Associates
has provided expert witness services to assist clients and legal advisors
through litigation, mediation and arbitration. For a listing of financial
reference materials, click here.
Prior to beginning
financial initiative, it can be quite valuable to get all of the participants
to a common understanding level with training, for several reasons. First,
different adults learn new information in different ways, for example,
some learn by reading, listening, debating, observing, doing, and seeing
the big picture (through use of metaphors, case histories, etc.). If no
training is provided or training using only a few of these techniques
is used, then different individuals will advance at different paces, which
will slow or derail the project. Second, training seminars give the participants
a common learning experience and reference point.
Greaver and Associates
has provided training services to identify and evaluate the existing knowledge
level, design the appropriate training solution, and implement that solution.
For a listing of financial reference materials, click
here.
|
