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Showing posts from August, 2021

Strategic Finance 2030: Key Strategies for the Next Decade

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Leading chief financial officers (CFO) are the guardians of business value creation, showing administration of their own expenditure by reducing absolute costs and shifting work toward more value-driven tasks. In addition, over the last decade, finance divisions cut down on costs by nearly 30% . The coming decade’s focus is reaching even greater scales of effectiveness.  Achieving the next front in finance effectiveness and efficiency will require CFOs to switch their thought process from the previous priorities. Three imperatives are particularly crucial to minimize human biases and error, deliver better real-time insights, and drive speed in financial decision-making strategies and workflows. Going Past the Transactional Activities With advancements in computing potential, organizations can increasingly apply artificial intelligence (AI) and machine learning (ML) to complex activities, banking on the lead triggered by robotic process automation (RPA) and similar technologies used...

Training US CMAs With Wiley Materials

For over 200 years, Wiley has been helping people and organizations develop the skills and knowledge they need to succeed. They are a dedicated team of elites to develop efficient learning products, digital transformation education, learning, assessment, and certification solutions that are appropriate for professional education. And, for   US CMA   candidates Wiley provides the official prep materials for the Institute of Management Accountants (IMA).  In 2020, WileyNXT was recognized by Fast Company for its outstanding innovations in education. Here are the 5 reasons a US CMA aspirant can count on Wiley materials for US CMA preparations: Provides you an updated course curriculum- Wiley is officially parted with IMA, which helps to implement changes quickly to avoid inconvenience for the aspirants following Wiley materials for the US CMA exams.  Lectures conducted by lead CMA instructors - Wiley council has the best instructors across the globe who associate with ...

CPA Certificate vs. CPA License – How Are They Different?

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If you’re kick-starting your  certified public accountant (CPA)  journey, you might be thinking about which is more beneficial - the CPA certification or the CPA licensure. While the two terms sound similar, both are pretty different things. Also, they offer you different amounts of responsibility and legal authority even though they appear identical. In this article, we’ll take a deeper dive into the CPA certificate and CPA license and the requirements they come with and later discuss why you should focus on earning your CPA license over a conventional CPA certificate. So, Time for a Deeper Dive Keep in mind that all state boards of accountancy have various norms and standards to become a CPA. While many have common requisites, all of them are different in some way, form, or shape.  Having said that, many states have a two-level certification procedure. This implies that once you meet the requirements to appear for the Uniform  CPA Examination  and clear it, yo...

The CFO’s Time in Sustainable Finance

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  Sustainability has never been more crucial for businesses than now, looking at the increasing carbon footprint and clarion calls to set up efficient systems to mitigate climate change. Environmental, social, and governance (ESG) opportunities and risks are increasingly being discussed in executive team discussions and corporate boardrooms globally. As a result, corporate officers have to shift from being passively ‘kept informed’ to taking a more proactive role in ESG conversations and implementation. The role of the chief financial officers (CFOs) within a business has inherently progressed and evolved with time. As organizations keep on realizing the ROI of sustainable business practices and ESG-mentality, they’ll indeed create and fine-tune the analytical tools required to examine and gauge their sustainability endeavors.  The finance function will thus become more closely associated with decisions around ESG efforts as CFOs are uniquely placed to shape companies and make...

How Entrepreneurial Mind matters for CFOs?

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Though CFO is still a top executive position in leading companies worldwide, it carries with it a ton of expectations. The task of modern CFAs is no more into financial forecasting and risk management, but stirring rough tech waves flashing into the finance domain through disruptive technologies. Until the 2020s, fintech skills were just on a pilot mode for CFOs but with the pandemic spreading on a full scale they took a deep plunge forcing CFOs to adopt a ‘think-outside-the-box” approach. Working through roadblocks, CFOs found Entrepreneurial Finance as a silver bullet to meet the growing need of the market and change the trajectory of companies and organizations. CFOs who lived long in the financial bubble has to jump out to seek the intelligence of entrepreneurs to devise strategic plans and decisions to boost organizational performance and growth. This brought in a new turn in the finance industry and promised a future for CFOs. Why Study Entrepreneurial Finance? Digital transforma...

CMA for Non-accounting Grads: Is the Exam too Difficult to Clear?

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Can you get Certified Management Accountant (CMA) credentials without a relevant college degree, or will you have to return to the school?  You can, indeed, become a CMA without an accounting degree. If you are a detail-centered numbers person and think a career as a CMA may be perfect for you, there are numerous recipes for success. But don’t let your lack of an accounting certification keep you back from a promising career as a CMA. So, read on to know how you can become a CMA without an accounting degree. Kick-start with Reference Materials Get versed with accounting basics. You can browse your local bookstore or library for the same sorts of textbooks that you may use in an ‘Accounting 101’ lecture in college. Go through them top-to-bottom and jot down notes to help you grasp the content quicker. Education Requisites For CMA, you need to fulfill either of the following education benchmarks: Hold a bachelor’s degree. Luckily, the Institute of Management Accountants (IMA) allows...

Dilemmas of accounting ethics

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The ever-changing dynamics in business have led to many optimistic changes in the business environment. But along with that, there are certain scenarios where individuals have to go out of the line method to keep their business going. It's observed that due to constantly increasing work pressure, unrealistic expectations, and deadlines have resulted in declining quality of life. A study shows that individuals who are suffering from financial instability or economic hardships tend to go under-the-table ways. In simple language, they opt for creative and unethical options, sometimes illegal ways to make their work done. For the same scenario, when we talk about accountants, they are said to be resistant to any such temptations.  Certified Public Accountants (CPAs) should know the fact that they are not supposed to take legal risks. Indeed, ethical and legal dilemmas cannot be avoided completely, but there are ways to handle such scenarios. Management should curate strategie...