During one of my prior engagements I was challenged with a situation in which we had a serious possibility of fraudulent accounting activities. The source was one of our foreign offices, which had only a small operating staff, and even worse, only a few accounting folks. There was not a broad enough staff to implement all [...]
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Prompting discussions on Financial topics….
Archive for June 11th, 2009
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Recent Posts
- Achieving Your Annual Goal with Base Hits….
- Ken Tudhope: Think Globally!!!
- What’s Your Corporate Contribution – Expense or Accretive Asset?
- S&OP, Inventory Levels, A/O, & Your Forecast….
- Book Review: Competing On Analytics
- Ken Tudhope: CFO or Controller…?
- Core Competencies vs. Key Inputs: Manage your risk….
- Ken Tudhope notes: Techno-Networking….
- Creating & Communicating a Financial Mission….
- Woodruff-Sawyer Board Panel: Conclusion
Recent Comments
- Jesse in What’s Your Corporate Contributio…
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SEC updates
- SEC and CFTC Issue Joint Orders on Volatility Indexes and Security Futures November 20, 2009The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) issued two joint orders related to security-based futures contracts that clarify each Commission's respective jurisdiction and allow additional products to underlie security futures.
- SEC Names Senior Officials to Investor Education and Advocacy Efforts November 19, 2009The Securities and Exchange Commission today announced the appointments of three senior officials to its Office of Investor Education and Advocacy (OIEA) to help continue its increased focus on individual investors. OIEA serves the Commission as the "investors' office" and provides educational resources to help individual investors make inform […]
- SEC Charges Former Executives at Silicon Valley Company for Inflating Financial Results November 17, 2009The Securities and Exchange Commission today charged two former Silicon Valley executives for improperly inflating the reported financial results at Santa Clara, Calif., semiconductor company Tvia, Inc.
- President Obama Establishes Interagency Financial Fraud Enforcement Task Force November 17, 2009Attorney General Eric Holder, Treasury Secretary Tim Geithner, Housing and Urban Development (HUD) Secretary Shaun Donovan, and Securities and Exchange Commission (SEC) Chairwoman Mary Schapiro today announced that President Barack Obama has established by Executive Order an interagency Financial Fraud Enforcement Task Force to strengthen efforts to combat f […]
- Federal Regulators Issue Final Model Privacy Notice Form November 17, 2009Eight federal regulatory agencies today released a final model privacy notice form that will make it easier for consumers to understand how financial institutions collect and share information about consumers.
CorpFinCafe - Twitter
Start-Up CFO / Mark Macleod
- Usage-based billing modelsI bought some credits for my long distance calling service Mobivox last week. I use this service at least once a week and yet this was the 1st time I had bought credits since April 2008 (when I was working there). I have to be one of the better users on this service, yet it has only extracted $ 20 from me in a year and a 1/2. That's not the path to rich […]
- We're all friends - the end of Non-CompetesTechcrunch reported about Don Dodge joining Google today. That's great news for the startup World and a great hire for Google. What was not reported on here is that this hire must mark the end of the Non-Compete as we know it.I think we can all agree that Microsoft and Google consider each other competitors. So, for Don to pick up and immediately take o […]
- When should you hire a CFO?At last month's National Angel Summit there was a great discussion on when startups should hire CFOs. Bryan Watson from NAO sent me the video. Check in just before the 6 minute mark.Highlights:When: right before you raise your 1st capital?Don't hire a full time CFOHire someone with startup experienceRun things right from the startReally important f […]
- Yultide 2009: Montreal's Tech Community Holiday Party!Like all CFOs, I used to be a nightclub DJ, pumping out house tunes at some of Montreal's coolest venues. I am pleased to report that I'll be dusting off the vinyl for a special appearance along with Alistair Croll and Sean Power of Watching Website's fame on Thursday Dec. 10 for Yultide 2009: Montreal's Tech Community Holiday party.All t […]
- Looking at the World's most valuable Internet StartupsA couple of weeks ago Silicon Alley Insider published its list of the World's most valuable Internet Startups. I thought it would be interesting to dig deeper into the numbers to see what we could learn and apply to our own startups. Together with my research department (aka - Jonathan), we crunched some numbers.Recognizing that we have imperfect data s […]
CFO Wise - Ken Kaufman
- Revenue Recognition Updates – Clarity and ComplexityAnytime a presentation starts with “Implementing EITF 08-1 and EITF 09-3,” we know we may be in for a long meeting.  Gregory P. Randall, Partner with KPMG, made a very technical topic interesting yesterday. The topic – the changes in revenue recognition guidelines for software companies and others with multiple deliverables packaged in […]
- Staffing Accounting/Finance Department from Start-up to Medium-Sized CompanyI have had a lot of conversations recently about staffing the accounting and finance function in the company. As companies grow and shrink, their needs in this area change. We certainly do not want to be over-staffed, and we also want the most cost-effective staff doing as much of the work as possible. For example, we [...]
- Is There Such a Thing as a Lifestyle Software Business?A respected professional @chrisknudsen said something to me a few months ago that I have reflected on several times since that occasion. We were discussing a company that has amazing, break-through technology with a wide-open market space. Their leadership just does not seem to be in a hurry to seize the opportunity. They’re growing at about [.. […]
- I Cannot Predict the Future…Budgeting is Worthless!I have heard this statement more often than I care to admit: “I cannot predict the future so a budget would be worthless for my business.”  An article entitled How to Create a Budget in BusinessWeek prompted me to recollect some of my experiences with helping people who have the above attitude towards budgeting gain a [...]
- Build Your Business Model Around PeopleThis is a real situation experienced by a real emerging company. Names and figures have been altered to protect anonymity.  A company has a new opportunity and they create a financial model to try and forecast how their general assumptions for this opportunity will materialize. Specifically, they made significant assumptions about the direct labor co […]
Ben Paramore/Beyond Beans
- Keys To Great RelationshipsGreat relationships take work to build and can be destroyed very quickly. This is particularly true for CFOs who are focussed on numbers and results and are usually driven to performance. Its easy to get lost in the job and...
- The Major Attributes of LeadershipNapoleon Hill, in his all-time bestselling success book Think and Grow Rich, outlined 11 Major Attributes of Leadership. They are as follows: UNWAVERING COURAGE. Based on knowledge of self and of one's occupation. SELF-CONTROL. People who cannot control themselves can...
- CFO Responsibilities ExpandingThe new Financial Executives Research Foundation's Annual Financial Executive Compensation Survey shows dramatic changes in the responsibilities of CFOs, both private and public. Areas where private CFOs are spending significant more time than ever before are Planning, Legal, Purchasing, Operations,...
Bradford Van Siclen / Novo Companies
- Bernanke Recovery, Updated Trickle Down Economics - 7 / 29 / 09
- Perspective 2009 - 7 /26 / 2009
- There and Back Again - 7 / 15 / 2009
- When Will We Begin To Improve? 7 / 10 / 2009
- 7 / 1 / 2009
Wine news...
- 12 Whites for the Thanksgiving Table (Wine Spectator) November 20, 2009
- 2009 Beaujolais Nouveau (Wine Spectator) November 19, 2009
- Prince Charles Falls for Niagara (Wine Spectator) November 19, 2009
- 12 Reds for the Thanksgiving Table (Wine Spectator) November 17, 2009
- Arsonist in $200 Million Wine Warehouse Blaze Pleads Guilty (Wine Spectator) November 17, 2009
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CFO magazine updates
- And Now for the Good News... January 6, 2009Here are ten bright spots to savor amid the economic gloom.
- Madoff Case Triggers Wider Probe of SEC January 6, 2009"Many of us have lost confidence in the SEC," a Congresswoman declares.
- Insurance Outlook: Higher Prices by Year's End January 6, 2009But if the global recession continues to spiral downward, many companies will try to slash their insurance bills by resorting to various forms of self-insurance, a new report predicts.
- Deals: Nowhere to Go but Up January 6, 2009In our M&A Roundup for the week ended Jan. 4, a mere 16 North American transactions are arranged, with only Chesapeake Corp.'s billion-dollar bankruptcy buyout topping $150 million.
- All Eyes on Treasury January 6, 2009The function that no one likes to think about is now getting plenty of attention, and even a little respect.
- GE Capital Taps Debt Market for $10B January 6, 2009The largest offering to be backed by the FDIC, it includes two-year notes, 3.5-year notes, and one-year and 18-month floating-rate notes.
WSJ - U.S.
- Hershey Trustees Back Cadbury Bid November 22, 2009The trust that controls Hershey is pushing it to launch a rival $17 billion bid for Cadbury that would include more cash than Kraft's offer.
- Eni to Buy Heritage's Ugandan Oil Fields November 22, 2009Italy's ENI is to acquire stakes in two Ugandan oil fields from U.K.-listed Heritage Oil for $1.3 billion, according to people familiar with the matter.
- AIG Trustee Sought Exit, But Will Remain November 22, 2009One of the three trustees who oversees U.S. taxpayers' nearly 80% stake in AIG recently said he wanted to quit his post, but was persuaded to stay on. Separately, the government is seeking possible candidates to add to the insurer's board.
- SkyTeam Willing to Invest More in JAL November 21, 2009Richard Anderson, chief executive at Delta Air Lines, said the SkyTeam alliance of global carriers would be willing to invest more than $1.02 billion into ailing Japan Airlines as it tries to cement a trans-Pacific partnership.
- Reliance Makes Offer for LyondellBasell November 22, 2009In a major bid to go global, Reliance Industries, the giant Indian energy and materials company, made a nonbinding cash offer of around $12 billion to take a controlling interest in LyondellBasell Industries when the chemical maker exits bankruptcy, said a person familiar with the situation.
WSJ - Europe
- Hershey Trustees Back Cadbury Bid November 22, 2009The trust that controls Hershey is pushing it to launch a rival $17 billion bid for Cadbury that would include more cash than Kraft's offer.
- Eni to Buy Heritage's Ugandan Oil Fields November 22, 2009Italy's ENI is to acquire stakes in two Ugandan oil fields from U.K.-listed Heritage Oil for $1.3 billion, according to people familiar with the matter.
- Romanians Vote for President November 22, 2009Romanians voted in an election that could help end a leadership crisis that has threatened an international loan aimed at stopping the country's painful recession.
- Foreign Minister's Row Puts Merkel in Bind November 20, 2009Guido Westerwelle is making his mark as Germany's new foreign minister by blocking a controversial appointment by the lobby of Germans expelled from Eastern Europe after World War II.
- Medvedev Decries Election Fraud November 21, 2009Russian President Dmitry Medvedev, in a rare criticism of the ruling party led by powerful Prime Minister Vladimir Putin, criticized local party officials for manipulating recent votes.
CNBC alerts
- Retailers Should Believe in Christmas Miracles November 20, 2009Although consumers are mired in the deepest recession in decades, there are plenty of reasons to believe that this holiday season will not be as bad for retailers as last year.
- What if a Recovery Is All in Your Head? November 22, 2009
- A Taxpayer's Must Read: The Fed Waltz With AIG November 22, 2009
- Health Care Bill Clears First Senate Hurdle November 21, 2009
- Wall Street Jobs Slow to Return Despite Record Profits November 20, 2009
Harvard Business
- Of Goldman Sachs, the Yankees, and Level Playing FieldsHave you noticed that the two most successful teams in New York City both engender passionately mixed emotions of admiration...
- Stop Wasting Time on VoicemailEvery time you make or receive a phone call that involves leaving or listening to a message, you're wasting time....
- What Innovators Can Learn from Bill Belichick Even non-football fans probably heard about Bill Belichick's "blunder" of a call on Sunday night. Believe it or not, the...
- Summoning the Courage to Tear Down WallsOn November 9th, the world rejoiced in recognition of the 20th anniversary of the Berlin Wall coming down. The...
- Can Good Journalism Also Be Profitable?Featured Guest: Umair Haque, director of the Havas Media Lab and author of the Edge Economy blog on HarvardBusiness.org....
- It's Time to Embrace Evidence-Based Medicine Evidence-based medicine is gaining momentum in the US, which is a good thing. What's EBM? It's an approach to delivering...
Seeking Alpha
- The Bair-Miller-Moore Haircut: Answering Felix Salmon November 22, 2009Ira Stoll submits: The blogger Felix Salmon, at Reuters, was kind enough to link my post from Friday morning about the Bair-Miller-Moore Haircut and to disagree with it. I will try to answer Mr. Salmon point-by-point and also offer a more general, conceptual response. He writes that the haircut, or the threat of one,Complete Story »
- The Bair-Miller-Moore Haircut November 22, 2009Ira Stoll submits: When the FDIC chairman, Sheila Bair, gave a speech in Istanbul on October 5 floating a proposal to limit the claims of secured creditors of failed banks, we commented that the change would "make it harder and more expensive for banks to raise capital." When we checked if her proposed 20% haircut would apply just to newl […]
- FDIC Keeping Mum About Real Estate Auction Results November 22, 2009In October, the FDIC held a large auction of properties it had acquired as a result of failed banks in Georgia. I thought this was an interesting story and wrote about it before the auction took place. It was my intention to write about it again after the results of the auction were released. No such luck. The FDIC has decided to keep us in the dark […]
- Is the Fed Getting Real About Valuation and Bubbles? November 22, 2009Nov. 20 (Bloomberg) -- Federal Reserve officials are stepping up scrutiny of the biggest U.S. banks to ensure the lenders can withstand a reversal of soaring global-asset prices http://www.bloomberg.com/apps/news?pid=20601103&sid=aP_4vjiIq7KUComplete Story »
- European Troika in China: What Does It Think It Will Accomplish? November 22, 2009Erwan Mahe submits:Alternative title: What the devil is he going to do in this mess?Of course, everyone thinks they know since the three officials in question, Mr. Trichet (ECB Chairman), Mr. Almunia (European Commission on Economic Affaires) and Mr. Juncker (President of the European Council of Finance Ministers), have expressed their views on the […]
