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16 Nov 2012
THE SHEER BREADTH of the CFO role means that prioritising has become the key to top performance, according to ACCA.
Economic uncertainty coupled with shifting energy prices and currency markets are among the main challenges that a CFO will have to face, according to ACCA/IMA Changing Role of the CFO study.
Further reading
As businesses expect more of their CFO, the finance function will come under greater pressure. But high-quality performance is a great boost to the CFO's career, and such reliance on the function allows them to exert influence over the business' direction.
"Apart from the sheer breadth of the role now, it really is a question of having enough time in the day to prioritise and deal with all the issues that need dealing with," said Jamie Lyon, head of corporate sector at ACCA.
"Businesses are really asking a lot from their top finance leaders right now and we don't see this getting any easier, particularly with the level of volatility and business uncertainty. It places the finance function and finance leaders under great pressure and scrutiny, but it also continues to provide great opportunities for finance to influence the organization. The CFO role of the future will be truly unique, requiring a really special blend of capabilities and skills."
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Briefings
If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.
In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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