Juan Arangote, FP&A, CPA, CMA, Manager of Financial Planning & Analysis for the Greater Toronto Airports Authority, discusses preparing for the Certified Corporate FP&A Professional exam, as well as why earning the certification is a smart career move for FP&A professionals.
Supervalu, a Fortune 500 grocery retailer, revealed last Friday that it had incurred a security breach. At least one security expert believes that “millions” of credit and debit cards may have been compromised.
The FP&A professionals of the future won’t be in the business of providing just numbers. They’ll be giving clients—internal and external—information that matters to them, solves problems, and helps them make critical decisions to increase profits.
The second installment in the 2014 AFP Treasury in Practice series focuses on bank account reconciliation. Underwritten by KeyBank, the guide provides best practices and examples of how companies reconcile their bank accounts on a daily basis to ensure accuracy, quickly identify exceptions and prevent fraud.
Welcome to August, usually an uneventful time of the year, but in our current “Black Swan Times”, anything and everything can happen. While we are dealing with unrest in Gaza and Ukraine, bond defaults in Argentina, and challenging times in places like Missouri, the market continues to behave in an orderly manner.
Attendees of the 2014 AFP Annual Conference in Washington, D.C. will receive a new perspective on business from New York Times bestselling author Ori Brafman. In his session, Brafman, author of “The Chaos Imperative,” will discuss how even the best and most efficient organizations can benefit from allowing a little disruption.
Software provider Hanse Orga announced Friday that it has been licensed to integrate the AFP Service Codes© within its FinanceSuite eBAM (electronic Bank Account Management) solution. The AFP Service Codes© are the global standard for analyzing and comparing the services and fees that are included in the account analysis statements which companies receive from their banks.
Recent regulatory developments relevant to treasury and finance professionals are reviewed in the AFP Reg Report. In this issue: money market fund reform, derivative end-user protections, corporate tax reform, virtual currency regulation, and more.
Cutting interest rates during recessions is the standard policy tool the Federal Reserve uses to resuscitate a weak economy, and it signals that policy officials are working to improve economic conditions. But could an easy Fed policy overstay its welcome?
As Democrats and Republicans in Congress square off over corporate taxation, treasury and finance professionals find themselves stuck in the middle of this political battle -- again.
Are treasurers facing difficulty communicating their role to the CFO? At the recent CTC Corporate Treasurers Forum, Steve Overholser, CTP, CPA, CFO & Treasurer for Great Clips, Inc., discussed whether CFOs truly understand the treasurer’s role and ways that both parties can get on the same page.
In this issue we take a closer look at the new money market fund regulations, and why risk managers should worry. Also, treasury and finance professionals tell how they are managing interest rate risk in a rising rate environment.
TheAtlantic.com, the website for one of America’s most respected magazines, published an article titled “Why All of the U.S. Treasurers Since 1949 Have Been Women.” The article drew some troubling conclusions, prompting AFP President and CEO Jim Kaitz to write a letter in response.
AFP has been fielding questions from reporters on when corporate America might begin to spend the huge cash piles that have accumulated in recent years. In addition to economic shifts, attitudes toward global risk and changes in business outlook, there's another factor that might influence cash spend, and some say it is simply the people involved in decision making.
The AFP Liquidity Survey finds that both the size and management of corporate short-term cash holdings stayed relatively steady over the past year. The reasons are two-fold. First, the business and regulatory climate remains one of middling economic growth and uncertainty. At the same time, the historic ultra-low interest rate environment has greatly reduced the opportunity to generate yield.
You've probably heard about The New York Times’ explosive report that Russian hackers stole more than a billion user credentials. You were likely encouraged to change your passwords immediately—for everything. What you may not have heard is that all of the panic could be over nothing.
FP&A professionals understand that they need better business intelligence (BI) and analytics to substantially improve their ability to have a profit impact. So why aren't companies investing in BI and analytics and delivering the analytical functionality FP&A professionals say they need?
This is the second part of a question and answer session on the new money market fund rules with Jim Gilligan, CTP, FP&A, assistant treasurer for Great Plains Energy, and Tom Hunt, CTP, director of treasury services, AFP.
Leadership in Treasury, a new publication from the Corporate Treasurers Council, may be the second in a series of e-documents from the CTC, but the subject matter is top of mind with treasury executives.
Contrary to its name, financial modeling is neither purely math nor finance. For a model to be effective, precision financial calculations and accuracy of the principles are not enough and are only part of the equation. The second and equally important part is the appropriate application of subjectivity.
NACHA has introduced a new program that aims to reduce online bill payment exceptions and check volume associated with exceptions, which cost the payments industry nearly $800 million per year.
The August issue features a case study of how the financial planning and analysis team at Edward Hospital and Health Services improved its reporting process. Plus, new editorial advisory board member Juan Arangote, FP&A, offers his insights on financial modeling.
In this exclusive video interview, Steve Overholser, CTP, CPA, CFO & Treasurer for Great Clips, Inc. discusses how his role has changed over the past five years. On the whole, treasury has become more involved in operations and strategic decision-making.
Gavin Waugh, the treasurer of Wendy's, tells how he achieved his career goal, and how he keeps his team motivated.
More than 600 retailers may have point-of-sale malware installed in their stores, according to a new warning from government officials. Cybercriminals are reportedly targeting businesses that use remote desktop applications.
In an AFP webinar, treasury and finance professionals received an in-depth look at the new money market fund rules approved by the Securities and Exchange Commission (SEC). Jim Gilligan, CTP, FP&A, assistant treasurer for Great Plains Energy, and Tom Hunt, CTP, director of treasury services for AFP, provided an update based on some of the feedback they’ve received from AFP members.
Immediately following the recent AFP webinar on money market funds, Jim Gilligan, CTP, FP&A, assistant treasurer for Great Plains Energy, and Tom Hunt, CTP, director of treasury services, AFP, held a question and answer session with treasury and finance professionals in which they provided further insights into the Securities and Exchange Commission’s new rules.
More than 1 million paper checks are delivered to US Foods’ sales force annually at customer locations as payment for deliveries. The checks are then taken personally by each sales associate to their local division for processing, which represented a real pain-point. US Foods needed a solution that would reduce these check-related challenges as much as possible.
What caused last week's volatility? Treasuries sold-off after the second quarter GDP report came in significantly higher than expected (+4.0 percent versus a consensus +2.9 percent). The fear was that the increase in economic activity would force the Fed’s hand to raise interest rates sooner rather than later to stem the tide of potential inflation.
After 15 years of preparation and an additional six-month extension, the wait is over. The single euro payments area (SEPA) is fully operational as of August 1.
The bitlicense regulatory framework recently proposed by the New York Department of Financial Services (DFS) has been met by considerable pushback from the bitcoin community. Bitcoin enthusiasts are arguing that the licenses will give an unfair advantage to the bitcoin businesses that have the most money.
FP&A professionals traditionally oversee the budgets, perform business planning, and provide financial insights to management. It is time for FP&A professionals to spend more time and effort emphasizing analysis instead of planning.
Corporates lending directly in tri-party repurchase agreements remain rare. Now, spurred by new money market fund regulations that likely will make this favorite short-term investment less attractive, corporate treasurers are re-visiting repos.
Using multiple financial institutions around the world is a challenge for any global treasurer. But for John Hanbury, CPA, CMA, treasurer for CHC Helicopter, corporate banking across the globe presented a liquidity management challenge. CHC realized that the only way to solve the issue was to move to a notional pooling structure.
Eric Smialek, FP&A, Senior Financial Analyst for Neustar, discusses his experience becoming part of the first class of Certified Corporate Financial Planning & Analysis (FP&A) professionals.
Mulling a proposal that would limit banks’ participation in the physical commodities market, the Federal Reserve is attempting a delicate balance—companies seeking to hedge commodity risk and concerns about systemic risk.
Treasury and finance executives whose companies do business in Russia and the Ukraine are seeing the effects of the mounting crisis on their bottom lines. The ruble’s exchange rate has plummeted, corporate borrowing is more expensive, and sanctions against individual banks are complicating cross-border payments.
Six individuals were arrested last week in connection with an international cybercrime ring that hacked more than 1,600 customer accounts. What’s different in this case is that the company detected the cybercriminals first instead of receiving the news of the hack, as usually happens, and then it alerted law enforcement.
Lisa Joublanc, CCM, CFA, Vice President and Treasurer for Global Payments, and Mary Guzman, Senior Vice President and E&O Practice Leader, McGriff, Seibels & Williams, discuss what treasurers need to consider when selecting cyber insurance coverage. They also provide a look at the 2012 cyber breach incurred by Global Payments.
Coinciding with the SEC’s money market mutual fund ruling for corporations, the AFP Corporate Cash Indicators ® (AFP CCI), underwritten by State Street Global Advisors, revealed that U.S. businesses built cash reserves at a faster pace during the second quarter of 2014 and invested those assets more conservatively. But the burst in cash accumulation is expected to be short lived.