Accounting For Change
Although the fundamentals of accounting have not changed much over the years, the velocity of business and regulatory change is unprecedented. In this business setting, financial applications must do much more than simple bookkeeping. They must be exceptionally pliant and enable organizations to continually adapt to structural upheaval, whether it is caused by a re-organization, merger, acquisition or new line of business. In this so-called “New Economy”, CFOs are under more pressure to provide meaningful and timely management information to oversee the ebb and flow of the business. At the same time, CFOs must deal with the increasing weight of regulation and statutory changes, while being asked to do more with fewer staff.
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