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Arthur Rothberg Articles

Guest post by: Arthur Rothberg

Procurement and Purchasing Cards - Click To Read Article
This article looks at how procurement cards - or P-cards - work to control misuse through setting of parameters on types, amounts, locations and frequencies of purchases. Also addressed are benefits and drawbacks of procurement card programs.

Incentive Compensation Plans that Work - Click To Read Article
A carefully designed, well executed incentive compensation program will enable a company to attract, motivate and reward top-notch employees. It will also sustain a creative, performance-driven work environment, as well as support behaviors that align with the organization's business objectives, marketing goals and overall strategies. The article reviews the characteristics of a successful incentive compensation program including the requirement that the plan be integrated into overall business objectives, business processes, and financial/accounting practices. Areas discussed include setting up a compensation program, aligning it with multiple strategies, determining quantifiable results, and linking it to a clear payout formula and timeline.

CFO vs. Controller: Understanding the Differences - Click To Read Article
There are two primary types of financial leadership within top organizations: the CFO and the Controller. Many growing organizations do not have a clear understanding of the two positions, often overlooking the value that a CFO could bring to their business. To determine what level of financial leadership an organization requires, a Controller and/or CFO, it is first important to decipher the differences between the two roles.

Chart of Accounts Best Practices - Click To Read Article
Often the simplest and most basic things within an organization are overlooked. It is time to get back to basics! The most basic of outputs from an accounting department is the chart of accounts, and this article looks at best practices to improve operating efficiencies.

Data Security & Outsource Service Providers - Click To Read Article
Contracting with outsource business services partners frequently brings with it the need to share highly confidential and proprietary data. This article looks at best data security practices that should characterize the working relationship and be included in the contract between companies and their BPO service providers. Areas addressed include who should own data security when working with an outsourced provider, questions to ask BPO providers, and data new security technologies including continuous online backup and remote data wipe-out if a provider’s device is stolen.

Cash Flow Forecasting - Click To Read Article
A cash flow forecast, or cash flow projection, is a key element of financial strategy that supports near-term financial processes, overall capital structure and asset valuations. Included in this article is a look at the eight ways cash flow forecasting helps a company assert control of its financial situation. Both direct and indirect methods of cash flow forecasting are addressed with the former including the receipts and disbursements method, while indirect methods reviewed include adjusted net income, pro-forma balance sheet and accrual reversal.

Internal Audit Preparation - Click To Read Article
The internal audit planning process is reviewed with discussions of best-practice audit procedures, documentation, and collaboration with the internal auditors.

Revisiting Sarbanes-Oxley Compliance - Click To Read Article
This article provides an updated view on The Sarbanes-Oxley Act (SOX) with a look at key sections, as well as financial management and controls and information technology. Included are three recommended strategies that characterize an effective SOX compliance methodology. The article also identifies online SOX resources including agencies, associations, media and financial peer communities.

Traditional Budgeting vs. Beyond Budgeting: Three Core Differences - Click To Read Article
Reviewed are two fundamentally different approaches to the budgeting process, Traditional Budgeting and Beyond Budgeting. The article addresses the general approaches, challenges and benefits of each approach.

Management and Business Plans - Click To Read Article
In addition to being a strategy planning document and a roadmap to success, a business plan is also a living-or “evergreen”-document that functions as an evolving management plan. Included in this article are a review of eight key elements in a comprehensive business plan and a look at how a good business plan functions with regards to business definition, competitive differentiation and strategic goals.





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