By Steven M. Bragg
Compliment for the recent CFO monetary management Manual"Steve Bragg has performed it back! This handbook indicates what a CFO must do to really upload worth. it's going to be vital studying for all CFOs who are looking to play a strategic position of their organizations."—Janice M. Roehl-Anderson, accomplice, Deloitte Consulting"This well timed advisor can assist CFOs grasp the fitting considering and administration talents. a good software for navigating latest company monetary waters."—Clint Davies, vital, Berry, Dunn, McNeil & Parker"An first-class reference e-book and stable studying along with. This publication is a how-to for brand spanking new and skilled CFOs. it's one position for brand spanking new CFOs to get details on the best way to begin of their task in addition to carrying on with reference on many issues-such as group of workers, accounting and reporting, banking, credits, taxes, and so on."—Gail W. Sevier, CPA, Member/Manager of Marrs, Sevier & corporation LLC
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Extra info for The New CFO Financial Leadership Manual
Example text
Consequently, when using leasing as the financing option of choice, a CFO must be extremely careful to review the individual costs that roll up into the total lease cost, probably using a net present value analysis to ensure that the overall expenditure is reasonable (see Chapter 10, Capital Budgeting). PAYABLES: EARLY PAYMENT DISCOUNT DECISION Some suppliers note on their invoices that a discount will be granted to the customer if it pays the invoice early. ” The CFO should know how to calculate the savings to be gained from such offers.
However, the CFO can take a much more proactive stance. For example, he can set aside a block of cash for more radical projects that would not normally make it past the rigorous capital expenditure review process, thereby adding high-risk, high-return projects to the company’s portfolio of capital projects. Under this approach, the CFO becomes an internal venture capitalist and mentor to the teams undertaking these high-risk projects. Encourage innovation. The CFO can modify internal measurement, reporting, and budgetary systems to ensure that some original ideas are allowed to percolate through the company, potentially resulting in the implementation of high-return ideas.
The CFO expects to pay off this loan in five years. 5% that would not take effect until the end of each year. He calculates that, even if interest rates skyrocketed over the next five years, the new loan would still be less expensive than the existing loan until the end of the fourth year of the loan, and agrees to refinance the debt. Convertible Security Issuance Decision A convertible security is a bond that can be converted into common stock. The common stock price at which the bond can be converted is based on the conversion ratio, which is the ratio of the number of shares that can be purchased with each bond.