Finance flash: the TOP-10 articles of week 12, 2017
Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.
1. How to approach corporate sustainability reporting in 2017
One reason behind the popularity of sustainability reporting is that transparency not only helps companies tell their story, it also drives improvements in performance. As per the business axiom, "You can't manage what you can't measure." Transparency is a currency that builds trust.
2. CFOs: Be the Heart of Data Integration
The explosive growth of business data has impacted organizations of all sizes and across all functions. But a big and as-yet-untapped opportunity to harness the power of this data may sit with the office of the CFO. Recognizing the benefit that access to data can bring, CFOs must now address a host of new, related challenges. These encompass the selection and rollout of collaboration tools and processes, new technology, training, and staffing.
3. Incentives Don't Help People Change, but Peer Pressure Does
What motivates people to change the way they work? When organizations introduce new processes or systems, or when they want to stimulate performance for certain business practices, they often assemble dedicated task forces, assign them specific goals, and identify deadlines and financial rewards. But peer pressure appears to go a longer way than money does.
4. Why Workday Adopted New Revenue Recognition Rules Early
Given the complexity inherent in the new revenue recognition standard, it's not surprising that only a small handful of large companies have signed up as early adopters. All public companies are required to adopt the new standard as of their first reporting period that begins after Dec. 15, 2017. Companies were also given an option to begin doing so exactly one year before the required date. But only five S&P 500 companies have done so.
5. Competition Is on the Decline, and That's Fueling Inequality
On a sunny morning in December 2013, as Google employees boarded the bus that would take them on their daily commute from Oakland to the company's Mountain View headquarters, protesters moved in. One unfurled a bright blue banner bearing the words "F Off, Google." Some handed out pamphlets explaining their anger: "While you guys live fat as hogs with your free 24/7 buffets, everyone else is scraping the bottom of their wallets, barely existing in this expensive world that you and your chums have helped create." News outlets reported that people had thrown rocks and a bus window had been smashed.
6. The 6 Most Profitable Industries of 2017
Most Profitable Industries If you're looking to start a new company, you might as well go where the money is! Here are six sectors that research firm IBISWorld says will keep savvy entrepreneurs firmly in the black.
7. Amazon wins multimillion dollar transfer-pricing dispute with IRS
The US Internal Revenue Service (IRS) acted in an arbitrary, capricious, and unreasonable manner when it applied a discounted-cash-flow method to a cost-sharing arrangement that Amazon.com made with its Luxembourg subsidiary, the US Tax Court held on Thursday (Amazon.com, Inc., 148 T.C. No. 8 (2017)). The case involved over $234 million in assessed tax deficiencies for 2005 and 2006.
8. The War For Talent Is Over, And Everyone Lost
In 1998, after a year-long study on the subject, McKinsey researchers declared that a "war for talent" was underway. In the years ahead, they said, organizations' future success would depend on how well they could attract, develop, and retain talented employees-an ever more valuable asset in ever higher demand.
9. When sustainability becomes a factor in valuation
Investors and other stakeholders seeking to understand companies' risks and opportunities increasingly demand to know more about their performance related to sustainability concernsor more specifically, environmental, social, and governance issues. Companies generally disclose variables that have a material effect on their value, according to financial accounting standards. But a one-size-fits-all approach to disclosure misses meaningful differences among industries.
10. 10 Mistakes Most People Make During a Job Interview (and What to Do...
Facing judgment day isn't easy. Most people try to act--take on roles and attributes that are foreign to who they truly are--and the results are disastrous. As a doctoral student in clinical psychology, I've been fortunate enough to average attending seven interviews each year for the past four years. While I certainly have areas for growth, being interviewed by elite psychologists and therapists--people trained to read and interpret human behavior--has taught me many valuable lessons that I'd like to share. Here are 10 mistakes most people make when interviewing and how to avoid them.