Should You Budget?

Budgeting, once a routine annual event, has fallen out of favor in recent years.  In view of the the fast pace of business today, should you develop a practice of crafting a budget?  This article will look at three advantages and disadvantages of budgeting. Advantages Assessment of Profitability – A budget can be very instrumental… Read more »

Management of Risk

Every business faces uncertainty and events which are a threat to growth, profitability, and it’s survivability.  The CFO Guidebook by Steven M. Bragg defines risk as “…an event that interferes with the ability of a business to achieve its objectives…”  Risks take many forms.  One way to begin to gain a perspective of risk is… Read more »

Dealing With Risk

Risk is a part of our every day lives, both as an individual and certainly as a business owner.  In his book, The CFO Guidebook, Steven M. Bragg suggests that there are three risk planning options:  mitigate the risk, accept the risk or transfer the risk.  Each of these options will be briefly described, with… Read more »

The CFO and Internal Control Systems

Internal control systems for CFOs

Who hasn’t heard of ENRON, WorldCom or Health South, infamous examples of companies in which the system of internal controls failed resulting if significant personal losses to employees and investors.  Were these just examples of big company failures or are smaller companies susceptible to similar failures? The responsibilities of the Chief Financial Officer (CFO) are… Read more »