survey of chief financial officers, conducted by CFO Europe magazine, has found
companies are relying on short-term fixes to combat the pressure of the credit
crunch, negotiating longer payment terms with their suppliers and tightening
In addition, 92% of respondents said their customers were trying to stretch
payment terms, while 87% were seeing suppliers demand earlier payment of
‘Although it may not feel like it now, the credit crunch represents a chance
to push through reforms of working capital systems, and not just rely on ‘quick
fixes’ which aren’t sustainable in the long-term,’ Roger Bayly, KPMG
restructuring partner said.
The survey also found that only 14% of respondents said their cash flow
forecasts were on target during the past 12 months and only 5% said they didn’t
attempt any form of cash forecasting at all.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.