Finance flash: the TOP-10 articles of week 13, 2020
Want to stay up to date with the latest developments in finance, but short on time? Don't worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.
1. Understanding the Economic Shock of Coronavirus
As the coronavirus continues its march around the world, governments have turned to proven public health measures, such as social distancing, to physically disrupt the contagion. Yet, doing so has severed the flow of goods and people, stalled economies, and is in the process of delivering a global recession. Economic contagion is now spreading as fast as the disease itself.
2. Coping With Life in Lockdown
In our highly interconnected world, is it really possible to run away from a pandemic? This is the first question I pondered after seeking refuge in my house in the remote countryside of southern France. As I was looking at the olive trees, two stories that I had read many years ago came to mind.
3. The Three Main Challenges of Remote Working
COVID-19 has forced us to adopt large-scale remote working with far less preparatory time than any of us would expect or want. The good news is that we have learned a lot over the years, the tools and technologies supporting us have improved dramatically, and all of us are more familiar and comfortable with interacting online. There are three overarching challenges we face with this situation, requiring distinct solutions.
4. Leadership in a crisis: Responding to the coronavirus outbreak and future challenges
For many executives, the coronavirus pandemic is a crisis unlike any other in recent times. Five leadership practices can help you respond effectively.
5. Beyond coronavirus: The path to the next normal
The coronavirus is not only a health crisis of immense proportion—it’s also an imminent restructuring of the global economic order. Here’s how leaders can begin navigating to what’s next.
6. Navigating your COVID-19 response
PwC’s new digital assessment tool, the COVID-19 Navigator, can help leaders understand the potential impact of the novel coronavirus on their business.
7. Ideas for data analysis in Excel
Ideas is an artificial intelligence-powered insights service that facilitates data analysis in Excel. It helps users create professional documents, presentations, and spreadsheets in less time, providing customised suggestions for outliers and insights when called upon. It is especially useful when you are overwhelmed with data and need to turn it into information, knowledge, and wisdom. It’s not in all versions of Excel, though; presently, it is only available in Excel for Office 365, Excel for Office 365 for Mac, and Excel for the web. But don’t let that put you off: This is a taste of the future of Excel.
8. 8 tips to build, maintain, and leverage your professional relationships
“Building relationships is not just a critical career skill but a critical life skill,” says Rebecca Zucker, Stanford Graduate School of Business alumna and partner at leadership development consultancy Next Step Partners. “One of the biggest mistakes people make is to bifurcate their personal and professional relationships,” she continues. “Our relationships are our relationships. They actually help us live longer, so they’re important not just to our careers but to our health.”
9. How the pandemic affects IFRS 9 reporting
As a result of the coronavirus pandemic, companies reporting under IFRS may need to adjust their approaches to forecasting and determining when lifetime losses should be recognised in the current environment, according to a document published Friday by the International Accounting Standards Board.
10. FDs, CFOs should avoid “knee-jerk” restructuring on COVID-19 bailouts
New measures put forth by the UK Government may not offer enough financial relief for businesses attempting to mitigate the impacts of the pandemic. A March MarketFinance survey found that only half of UK businesses are considering using the Coronavirus Business Interruption Loan Scheme.