PaymentsViews

Accounting

Really Big Questions in Payments

Glenbrook’s Allen Weinberg wrote a few weeks ago about his view of the Grand Challenges in payments…. a daunting list, and one I agree with.  But I want to extend his discussion on one of his challenges:  “Realigned value chain economics in a push payment world”, and add two more: “What is the proper role […]

Accounting

Enough with the 2016 Predictions – Let’s Think Bigger!

As I was slogging through the many payments-related articles and blog posts reminiscing about 2015 events and making predictions for what may or may not be ahead in 2016, I thought of a conversation I had with Scott Loftesness around 20 years ago, sometime in 1995 or 1996. Both of us were at First Data […]

Accounting

The Most Promising Financial Software (Forrester TechRadar)

CFO.com summarizes the most recent Forrester “TechRadar” report on financial software. Not surprisingly, economic woes are driving businesses’ need for accounts receivable and collections software to help companies monitor their customers payment behavior. Budgeting and forecasting solutions as well as expense reporting tools are also in high demand. Accounts Payable solutions are up and coming […]

Accounting

VCs Back Receivables Exchange

Sign of the times: who’s getting investor money? A company that runs a marketplace for real-time trading of accounts receivable, enabling small and mid-sized businesses to accelerate their cash flow. via NYTimes DealBook: The Receivables Exchange, a New Orleans company that runs an online marketplace for real-time trading of accounts receivable, has closed a $7.75 […]

Accounting

Blaming the Credit Crisis on Double Entry Accounting

Sigurd Rinde believes that double entry accounting is a root cause of the current economic calamity. He's got a point. Check this out: [except – read the whole post here] Is there a root cause? And if so, why is it not discussed? So why is it not discussed? Because sometimes we take some things […]

Accounting

Accounting implications of Obama appointing Volcker

CFO.com points out that Paul Volcker has strong views on accounting topics that might soon become prominent fixtures of administration economic policy. For example, here are topics/issues that he will undoubtedly have influence over (quoting CFO.com): [His experience creating and then serving as head of International Accounting Standards Board and attempting to reform Anderson immediately […]

Accounting

All Eyes on Receivables and Payables due to the Credit Crunch

From CFO.com Since the credit-crisis began to hit its crescendo in mid-September, CFOs at companies of all sizes have been paying ever closer attention to the cash streaming through their businesses and keeping careful watch on their suppliers' credit terms and their customers' viability. No one wants to see the current credit freeze among wary […]

Accounting

Poor ERP Implementation Leads to Restatement by Overstock.com

Overstock.com said it will restate its financial results for over five years due to problems stemming from its implementation of Oracle. Revisions to the company's 2003-2007 results probably will reduce revenue by $12.9 million and increase cumulative net loss by $10.3 million. Excerpt from CFO.com  He explained that as part of a major system upgrade […]

Accounting

Accounting Standard-Setters to Convene re: Credit Crisis Issues

The US and International Accounting standards boards are convening an advisory group to address issues stemming from the credit crisis – starting with fair-value rules. [via CFO.com – emphasis mine] While central bankers and G7 leaders work to form panels to respond to the global banking crisis, accounting standard-setters are doing their part to do […]

Accounting

Spreadsheet “Worst Practices”

Attention Excel users! A couple related articles from CFO.com on spreadsheet worst practices and how to fix them. The first article generated so many emails that they published a follow up with even more tips. Spreadsheet "Worst Practices" Here's how finance executives abuse the most-useful of computer programs — and how to do better. Shahid […]