What CFO needs to know to reach Financial Analytics and Reporting Success?
This is how financial reporting helps in undertaking the review plan of financials, detailed analytics, and also preparation of financial reports.
2. Market trends: through analysis and reporting there comes a clear image of the market trends that are prevailing.
3. Financial analytics and reporting helps in financial restructuring of the company.
4. It determines the forecast of future growth and prospects and also helps in reducing the cost of products and services offered.
The functioning of CFO complex demands such as investments, and implementation of MIS reporting structure. The company’s financial team helps in generating MIS reporting structure, MIS reports from their accounting software. To understand this a proper training programme is held for the finance and accounting team in this reporting accurate financial, data and knowledge. It also serves as a guide in recommending the investors on the key areas to seek comfort from the auditors of the company.
2. Setting up an annual calendar of events to meet with the shareholders of the company.
3. Keeping the track of the investor base.
4. Analysis of company and market data.
5. Ensuring of the information about the company to investors in a well defined, transparent, consistent and in a reliable manner.
Strategy to be adopted in effective turnaround management
Once the business is stabilized then it's time to do strategic planning. Also the SWOT analysis should be done. From SWOT vision, long term vision, mission, and objectives for the business can be defined. By this you will get to know where the business is actually heading and accordingly you can plan strategically.
Action and implementation
The next step is the development of an action plan. The tasks are the dails, weekly, monthly activities to be done and with this strategic planning process , each one will be contributing to the overall mission. It is important to implement the plan. It is important that the employees are aligned with the overall vision for the business. This is achieved through communication, consultation on a regular basis, by the CFO of the company.
Review of existence of turnaround management
The regular reviews are considered after the planning and implementation process. In effect the process of turnaround management is quite similar to the strategic planning, however, there are some distinctive areas of stress. For upcoming stress, the consultation of turnaround management is required.