Controllers Workshop 09

Bringing Your Financials into the Cloud

Dan Druker, SVP, Intacct — Thu, 29 Oct 2009 12:43:55 -0400

Whether you call it cloud computing or Software as a Service, it's one of the most significant shifts in the way we use and consume technology – both as consumers and in business. Cloud computing is everywhere, moving from the ranks of Silicon Valley buzzword to a part of our everyday lexicon. But what exactly is cloud computing?

Simply put, cloud computing is using a web browser to access information stored in the Internet cloud. Just like you use a web browser to use Google or Amazon or to do online banking, you can also use a web browser to access your key business applications. Your applications are run on your behalf by someone else out there in the Internet cloud. This frees you from worrying about capital investments in hardware and software or the IT staff to maintain and operate your systems – turning capital costs into variable costs and getting you out of the no value added IT business. When your applications are in the cloud, you can use them anytime and from anywhere – at your convenience – dramatically increasing productivity and decreasing costs.

In my early riser session "Best Practices in Evaluating and Adopting Cloud Computing for Finance", I'll be delving deeper into:

Why cloud computing is revolutionary for finance organizations
What's different about cloud financials compared to traditional accounting software
How to evaluate the total cost of ownership (TCO) of cloud computing
Critical factors in establishing successful relationships with cloud vendors
How to negotiate for the best prices

Join me for coffee at 7 AM on Wednesday, November 11th in room Osprey 1. I hope to see you there!

Cowboys to Invade Disney World

Jeremy Sparling — Sun, 20 Sep 2009 16:10:23 -0400

While dwarfs, pirates, and mice are all commonplace at Disney World, for an hour in November a cowboy will be the focal point of central Florida. Participants at the Orlando conference in November are going to be captivated by the same powerful and patriotic presentation entitled "Cowboy Ethics - Getting America Back on Track" that attendees enjoyed in July in Las Vegas.

A successful Wall Street businessman and author, Mr. James Owen has championed the foundation and growth of the Center for Cowboy Ethics and Leadership. Mr. Owen built the Center on simple principles which were once the way of life for the American cowboy; the same principals which ideally would still be woven into the fabric of American business and industry. Mr. Owen's stimulating presentation will leave conference participants speechless and remind of the obligation to perform their job duties with integrity and ethical vigilance.

The principals are:

Live each day with courage
Take pride in your work
Always finish what you start
Do what has to be done
Be tough, but fair
When you make a promise, keep it
Ride for the brand
Talk less and say more
Remember that some things are not for sale
Know where to draw the line

Mr. Owen incorporates inspirational and patriotic music into a dynamic multimedia presentation filled with breathtaking photography. Whether a Controller, CFO, or accountant all participants will be entertained, inspired, and humbled by the powerful message.

The website for the Center is www.cowboyethics.organd gives a sneak-peak as to what to expect from the program. Much more than a refresher course in ethics, Cowboy Ethics promises to be one of the most memorable sessions at the 2009 AICPA Controllers Conferences.

Las Vegas Conference

Account Deleted — Tue, 18 Aug 2009 10:45:20 -0400

The Las Vegas version of the AICPA Controllers Workshop is done for 2009. It was a great conference.

The Professional Information Exchange (PIE) idea the committee tested was successful but was also a learning experience. We plan to improve PIE for the Orlando conference based upon the feedback received in Las Vegas.

Everyone is still adjusting to the going "green" idea. I personally did not print out any materials to bring to the conference nor did I print out any on-site. I like to use a notebook to make my notes. I downloaded the presentations to my laptop and had them if I needed them. There are a couple of presentations that you really need to make sure you bring hardcopies of the presentations to the session as there are activities to be completed in those sessions within the presentations.

The sessions I sat in were great. As chairman for the steering committee, I may be a little biased but I did enjoy most if not all of the sessions I attended. Each session I had some takeaways which are always great. The big thing for me was I got to network with other Controllers, CFOs, etc. while in Las Vegas. Where else can you find that many high level accountants in one place? Orlando in November may be the only other place I know of that you will find as many Controllers and CFOs in one place.

The Bellagio treated us well while we were in Las Vegas. We had great food, snacks, and drinks. The rooms were comfortable.

The AICPA staff did an awesome job making each attendee feel welcome and have a good experience while in Las Vegas. Thank you Lisa Gebler, Kayla Briggs, and Stephanie Finn for all you did for the Las Vegas conference.

This conference was also successful due to the hard work of those members on the steering committee. Thank you Kathy Johnson, Matthew Cowles, Todd Scarletta, Matt Waters, and Lisa Zeiter for all of your hard work on making this conference a success.

The Problem with Budgets and How to Improve Performance by Implementing a New Approach

Steve Player — Tue, 14 Jul 2009 13:35:06 -0400

Most organizations base their business plan or strategy on an entrenched budgeting process that is repeated due more to familiarity than to effectiveness. But today's high market volatility makes the assumptions needed to drive most budgets almost impossible accurately determine. These uncertain economic times, coupled with related factors such as unprecedented levels of government participation and oversight make surviving more a measure of agility and adaptability than traditional budgeting allows. According to a recent study by the Aberdeen Group, best-in-class companies are half as likely as they were a year ago to leave budgets fixed throughout the year. They are also 45 percent less likely to simply prepare budgets based on historical data. The top pressure facing planning, budgeting and forecasting is the need to improve agility to adapt to ever-changing conditions.

Traditional budgets are static and do not easily adapt to changes in marketplace. Recent economic downturns have exposed inherent flaws in traditional budgeting. Its' processes are time-consuming, add little value, create a climate that can foster unethical behavior and actually discourage the achievement of maximum performance levels. The limitations and deficiencies of traditional budgeting have been pointed out for years. Jack Welch, former GE CEO and noted author, said in his book Winning,” …the budgeting process at most companies has to be the most ineffective practice in management. It sucks the energy, time, fun and big dreams out of an organization. It hides opportunity and stunts growth. It brings out the most unproductive behaviors in an organization, from sandbagging to settling for mediocrity.”

The good news is that a group of leading edge organizations have found ways to overcome these problems through the Beyond Budgeting Round Table. Beyond Budgeting offers practitioners a set of 12 guiding principles that can transform any company and elevate it to a whole new level of competitiveness. The Beyond Budgeting Principles are:

Leadership actions

Customers – Focus everyone on their customers, not on hierarchical relationships
Processes – Organize as a lean network of accountable teams, not as centralized functions
Autonomy – Give teams the freedom and capability to act, don't micro-manage them
Responsibility – Create a high responsibility culture at every level, not just at the centre
Transparency – Promote open information for self-management, don't restrict it hierarchically
Governance – Adopt a few clear values, goals and boundaries, not fixed targets

Aligning management processes with leadership actions

Goals – Set relative goals for continuous improvement, don't negotiate fixed contracts
Rewards – Reward shared success based on relative performance, not fixed targets
Planning – Make planning an continuous and inclusive process, not a top-down annual event
Controls – Base controls on relative indicators and trends, not variances against a plan
Resources – Make resources available as needed, not through annual budget allocations
Coordination – Coordinate interactions dynamically, not through annual planning cycles

Attendees to the AICPA Controllers Conference-West will be able to learn of these techniques by attending either of the sessions on July 21, at 9:05 a.m or 12:50 p.m. The course will also be offered at the AICPA Controllers Conference-East in Orlando, Florida on November 10-11. If you have questions about how Beyond Budgeting is improving planning and control please contact me at steve@theplayergroup.com.

Steve Player, North American Managing Director of the Beyond Budgeting Round Table, will show attendees how best-in-class organizations have used Beyond Budgeting to not only survive but thrive in today's challenging economic times. You can learn more about this program and Beyond Budgeting by logging on to www.bbrtna.org.

Are there any differences between Female and Male CFO's

Kathy Johnson — Sun, 14 Jun 2009 17:56:29 -0400

As a successful executive, I am often asked about my experience as a woman financial executive. Was it harder for me to succeed because of my gender? Do men have it easier than women in the corporate world? Are women CFOs somehow different than Men?

Was it harder for me to succeed because of my gender? In some respect, it is difficult to separate out the struggles that I have has purely based on my gender versus normal struggles anyone encounters while trying to move up the ladder. However, there are a couple of trends that are difficult to attribute to anything other than gender biases.

Compensation — Part of the benefit or curse depending on how you look at it, of being in a financial role is that you are often aware of employee compensation packages. Based on that knowledge, I can say that women with similar work experiences and education have been and continue to be compensated at a lower level than male counterparts. This disparity tends to be more prominent for higher level positions (manager, director, and executive levels) versus staff positions.

Training — As I have risen up the ranks, I have noticed that more males are sent to company level executive training programs. These individuals are usually picked by their bosses who see potential in them that will lead to future opportunities for upward mobility. While I am not able to say that males are chosen over women on purpose, It is a fact that since more males are already at the executive level, male executives are doing the selecting. I have always believed that people have to see you in a position in order to put you in that position. Therefore, unless the executive has had positive experiences with female executives, the chances of selecting visualizing a female who can be just as successful as a male are slim.

Do men have it easier than women in the corporate world? Companies experience financial and operating highs and lows all the time. Part of the answer to this question depends on the individuals involved and how they weather these peaks & valleys. There will be some executive colleagues & lower level staff that will skeptical of a female's ability to lead an organization through the bad times simply because of gender. Additionally, others will feel that since female executives (financial or other disciplines) are in the minority, the simple fact that a female has been able to garner the coveted executive position, that person must have special talents. Those expectations can be both beneficial and detrimental depending on how they are managed. In my experience, there are often higher expectations for women who are able to break through the "glass ceiling" with little room for error. Depending on how women channel the stress involved with these higher expectations is a big factor in answering the lead question.

Are women CFOs somehow different than Men? Other than the obvious gender difference, I have not seen any evidence of the gender determining who will be successful as an executive. Leadership skills and the ability to garner staff respect and support is a better determination of success. The support must come from family, friends, bosses, and other colleagues.

According to Management-issues.com Feb 27^th article entitled Women & Work, there are three reasons for the rising gender gap in salaries between men and women MBA's (from a 16 year study 1990 thru 2006).

Differences in training prior to MBA graduation

Differences in career interruptions

Differences in weekly hours

I am in agreement with these findings. I strongly believe that women looking for CFO or similar executive positions have to really think about what is involved. Time commitment both prior to attaining the position and while holding the position is a big factor in determining success. Additionally, education & executive level training is always ongoing.

Advice that I would give to females hoping to make the leap to a CFO or other executive level position include:

Take the initiative to seek out training opportunities & make it known to managers & supervisors of your goals (my experiences have shown that many women are slower to share their career goals versus their male counterparts).

Take advantage of any opportunities you do get for training to also network, network, & network. Industry conferences are great opportunities training because of the variety of people and topics usually covered.

Be willing to put in extra time for special projects (this gives you a great opportunity to expand leadership skill sets & stand out above others).

Find a mentor within your organization

Ask for opportunities to apply for open positions and don't wait for someone to ask you

Networking - An Accountant's Nightmare

Account Deleted — Sun, 31 May 2009 09:46:18 -0400

Networking is one of those scary things accountants must learn to do in order to move up in the business world. Does the thought of walking up to a complete stranger send chills down your spine? Does the thought of asking someone else a question you do not know the answer to put a lump in your throat? Do you want to overcome the obstacles with meeting someone in a similar situation? The stereotypical accountant (grey flannel suit, horn-rimmed glasses, quiet, works alone) would never dream about going up to a complete stranger and introducing himself/herself. This nightmare can be overcome.

Conferences are a great place to network with colleagues. Conferences provide an opportunity to meet many new people who are in your field. This year, the Controllers Workshop hopes to take networking to a new level for accountants by providing a structured setting to meet, greet, and share with others that have common situations.

Las Vegas will be the first place we test this new session and later this year, Orlando will be the second. A presenter will be coordinating and guiding this session. What better places can you meet with your peers or potential mentors? We are hopeful this session will provide the right atmosphere for building new relationships.

I, personally, have found the Controllers Workshop a great place to meet others in similar situations. I have kept in touch with a few people I have met at past conferences. I have been able to contact those individuals to ask questions or bounce ideas. It has been beneficial to my career.

From the conference sessions to lunch, this workshop has numerous networking opportunities. There are several things to keep in mind when networking:

Shake hands and introduce yourself.
Build a rapport with the individual.
Have business cards with you at all times.
Have a pen/pencil and paper with you to take notes.
Before attending the conference consider what you would like to accomplish with networking. Do you want to find a mentor? Do you want to find someone in your industry? Do you want to find someone who uses the same accounting system?
Find out the industry in which the individual works.
Find out what accounting system the individual uses or has used in the past.
Find out what activities the individual likes to pursue outside of work. You may have more in common than you initially thought.
Find out what plans they have while in Las Vegas or Orlando. Maybe you can do something together to further develop the new relationship.

As chairman of the steering committee for this conference, I challenge you to come to Las Vegas or Orlando and meet at least 15 new people at the conference. Don't forget to follow-up with them once you return to the office. It is one thing to meet new people at the conference — it is another to continue to build that relationship. You never know when that person could help your career.