Companies see new savings in better tax planning.
Corporate tax executives have increasingly broadened their role beyond just compliance, to taking a more proactive role in managing risk and contributing to decisions that influence strategy, according to a new study.
Survey unveiled at launch of new credential.
About 75% of the world’s CEOs say more emphasis should be placed on measuring the value of non-financial assets such as intellectual capital and customer relationships to drive long-term performance.
But just 51 percent of nearly 300 CEOs surveyed in 21 countries say their organizations currently measure the value of non-financial assets well or very well. And only 12 percent now turn to their finance teams for help with the task.
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But no new hiring.
via AICPA
The outlook for the U.S. economy improved in the fourth quarter, but broad pessimism about the progress of a recovery persists, according to the fourth quarter AICPA Economic Outlook Survey, which polls chief financial officers, controllers and certified public accountants in executive and senior management accounting roles.
Corporate hiring plans go from dreary to dismal.
Worried by economic crises and gridlocked political systems, about 53% of CFOs surveyed by Deloitte say they are losing faith in the economic outlook, a dramatic change from 32% in the previous quarter.
Stuck at about $128,000 in total comp.
Pay for finance and accounting executives is remaining essentially flat for the third year in a row, according to a survey by the Institute of Management Accountants of its members.
The average salary increased 3.1% to $109,265 and total compensation increased 4.2% $128,486. But the IMA said “neither increase is statistically significant.”
Unlike earlier years, total compensation in the latest year rose faster than base salaries. The IMA said more finance executives received raises this year, but the average amount of the raise has remained flat.
Companies increasingly tie pay to non-financial targets.
Pay for CFOs is set to rebound this year after two years of declines, according to a new AICPA member survey.
Predicting “a substantial improvement in 2011 at both private and public companies,” the AICPA survey says bonus-driven compensation should be buoyed this year by rapidly improving corporate performance.
Cash bonuses lead the way, up 24% Average compensation for chief financial officers at S&P 500 companies jumped 19% to $2.9 million last year, driven by rebounding profits and stock prices, according to a Wall Street Journal survey. While the … Continued
…You may be trying to sell to the wrong people. CFOs are getting out of the business. Instead, nearly half of corporate executives report their company now has a chief risk officer, up from 33% two years ago. The elevated … Continued
World moving too fast to plan even a year ahead.
So an increasing number of companies are abandoning the age-old tradition of annual budgeting and adopting instead a system of constantly updated forecasts. They call them rolling forecasts, flexible budgets, or event-driven planning. But they aren’t annual budgets.
CFO.com cites as examples: Unilver, Norton Lilly International, Statoil, and American Century Investments. “Meanwhile, other companies continue to execute a budget but, for the most part, manage the business without it,” Russ Banham reports. “Call it a sign of the times, literally.”
“Cross-functional business processes” bedevil finance managers.
A survey of over 800 finance professionals attending an introductory webinar on Software-as-a-Service staged by Netsuite and the Institute of Management Accountants shows that the chief drivers to the Cloud are both efficiency and effectiveness.
But still years away from being ready. via CFO Some 34% of CFOs rank “convergence to IFRS” as their No. 1 issue. Cumulatively, CFOs rank IFRS convergence higher than any other accounting issue, according to the latest Duke University/CFO Magazine … Continued
Technology industry hiring and finance salaries on the mend.
via BDO
Nearly half, or 46% of top U.S. technology companies — an important bellweather for the U.S. and the accounting profession — plan to increase employee headcount this year, marking a significant sign of confidence in the sector, according to BDO USA LLP. Just 7 percent expect headcount to decrease.
How vulnerable are CFO.com and CFOzone.com? IDG Enterprise, a division of IDG Communications, which publishes PC World and Computer World, is rolling out a new website targeting CFOs — CFOworld.com. The move marks an expansion of IDG Enterprise beyond its … Continued
