Armed with the information and scenarios these three tools provide, you can steward organisations through both the short- and long-term ramifications of the pandemic.
Through re-budgeting, re-forecasting and re-orientating, finance professionals can help any business build resilience and improve operations. By using these tools in tandem, you can help organisations generate and preserve value — not just in reaction to the current crisis, but in preparation for whatever comes next. That’s what makes a business resilient.
Tools: • Scenario planning: Providing insight for impact • Risk Heat Map • The audit committee’s responsiveness during the COVID-19 pandemic Articles: • Strategic disruption: An expert’s thoughts on moving forward • 5 steps towards corporate resilience • COVID-19: Preparing for what’s next • Modelling working capital adjustments in Excel Videos: • COVID-19: CFO Professional Judgment in Volatile and Uncertain Times – Part 3 • COVID-19: Business planning and impacts — Part 1 • COVID-19: Scenario planning and strategic modeling — Part 2 Online courses: • Digital Mindset Pack (2019-20) • Finance Transformation: Ignite Change
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Chartered Global Management Accountant® (CGMA®)
CGMA is the most widely held management accounting designation in the world. It distinguishes more than 137,000 accounting and finance professionals who have advanced proficiency in finance, operations, strategy and management. In the United States, the vast majority also are CPAs. The CGMA designation is underpinned by extensive global research to maintain the highest relevance with employers and develop competencies most in demand. CGMA designation holders qualify through rigorous education, exam and experience requirements. They must commit to lifelong education and adhere to a stringent code of ethical conduct. Businesses, governments and not-for-profits around the world trust CGMAs to guide critical decisions that drive strong performance. cgma.org
Association of International Certified Professional Accountants
The Association of International Certified Professional Accountants® (the Association) is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs® (AICPA®) and the Chartered Institute of Management Accountants® (CIMA®) to power opportunity, trust and prosperity for people, businesses and economies worldwide. It represents 650,000 members and students in public and management accounting and advocates for the public interest and business sustainability on current and emerging issues. With broad reach, rigor and resources, the Association advances the reputation, employability and quality of CPAs, CGMA designation holders and accounting and finance professionals globally. aicpa-cima.com
Dr. Martin Farrar Associate Technical Director Research and Development—Management Accounting Association of International Certified Professional Accountants
David Hackett Technical Manager —Management Accounting Association of International Certified Professional Accountants
Dr. Ian Selby Vice President — Global Research and Development —Management Accounting, Association of International Certified Professional Accountants
Peter Simons, BBS, MBA, FCMA, CGMA Associate Technical Director of Research —Management Accounting, Association of International Certified Professional Accountants
For information about obtaining permission to use this material other than for personal use, please email mary.walter@aicpa-cima.com. All other rights are hereby expressly reserved. The information provided in this publication is general and may not apply in a specific situation. Legal advice should always be sought before taking any legal action based on the information provided. Although the information provided is believed to be correct as of the publication date, be advised that this is a developing area. The Association, AICPA and CIMA cannot accept responsibility for the consequences of its use for other purposes or other contexts. The information and any opinions expressed in this material do not represent official pronouncements of or on behalf of the AICPA, CIMA or the Association of International Certified Professional Accountants. This material is offered with the understanding that it does not constitute legal, accounting or other professional services or advice. If legal advice or other expert assistance is required, the services of a competent professional should be sought.
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May 2020
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