Accounting

Glenbrook’s Allen Weinberg wrote a few weeks ago about his view of the Grand Challenges in payments…. a daunting list, and one I agree with.  But I want to extend his discussion on one of his challenges:  “Realigned value chain economics in a push payment world”, and add two more: “What is the proper role […]

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As I was slogging through the many payments-related articles and blog posts reminiscing about 2015 events and making predictions for what may or may not be ahead in 2016, I thought of a conversation I had with Scott Loftesness around 20 years ago, sometime in 1995 or 1996. Both of us were at First Data […]

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It’s always intriguing to watch how a good idea evolves into new areas. Such evolution often happens when designers find new applications for their ideas. Brian Merritt and Ryan Hildebrand were part of the early team at Simple that was subsequently sold to BBVA. In mid-February, they announced the formation of Seed, a Y Combinator […]

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CFO.com summarizes the most recent Forrester “TechRadar” report on financial software. Not surprisingly, economic woes are driving businesses’ need for accounts receivable and collections software to help companies monitor their customers payment behavior. Budgeting and forecasting solutions as well as expense reporting tools are also in high demand. Accounts Payable solutions are up and coming […]

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Sign of the times: who’s getting investor money? A company that runs a marketplace for real-time trading of accounts receivable, enabling small and mid-sized businesses to accelerate their cash flow. via NYTimes DealBook: The Receivables Exchange, a New Orleans company that runs an online marketplace for real-time trading of accounts receivable, has closed a $7.75 […]

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Sigurd Rinde believes that double entry accounting is a root cause of the current economic calamity. He's got a point. Check this out: [except – read the whole post here] Is there a root cause? And if so, why is it not discussed? So why is it not discussed? Because sometimes we take some things […]

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CFO.com points out that Paul Volcker has strong views on accounting topics that might soon become prominent fixtures of administration economic policy. For example, here are topics/issues that he will undoubtedly have influence over (quoting CFO.com): [His experience creating and then serving as head of International Accounting Standards Board and attempting to reform Anderson immediately […]

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From CFO.com Since the credit-crisis began to hit its crescendo in mid-September, CFOs at companies of all sizes have been paying ever closer attention to the cash streaming through their businesses and keeping careful watch on their suppliers' credit terms and their customers' viability. No one wants to see the current credit freeze among wary […]

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Overstock.com said it will restate its financial results for over five years due to problems stemming from its implementation of Oracle. Revisions to the company's 2003-2007 results probably will reduce revenue by $12.9 million and increase cumulative net loss by $10.3 million. Excerpt from CFO.com  He explained that as part of a major system upgrade […]

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The US and International Accounting standards boards are convening an advisory group to address issues stemming from the credit crisis – starting with fair-value rules. [via CFO.com – emphasis mine] While central bankers and G7 leaders work to form panels to respond to the global banking crisis, accounting standard-setters are doing their part to do […]

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Attention Excel users! A couple related articles from CFO.com on spreadsheet worst practices and how to fix them. The first article generated so many emails that they published a follow up with even more tips. Spreadsheet "Worst Practices" Here's how finance executives abuse the most-useful of computer programs — and how to do better. Shahid […]

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Companies of all sizes – but especially large, multi-unit organizations that have grown through acquisition and have a spaghetti of accounting and finance systems – struggle to close their books in a timely manner each month, quarter, and year. Even those that do a good job each period, struggle to maintain control over the close […]

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