Category Archives: Accounting Systems Design

LIFO vs. FIFO: Choosing the Right Inventory Valuation Method

Arthur F. Rothberg, Managing Director, CFO Edge, LLC Choosing the right inventory method – LIFO vs. FIFO – is a critical inventory management decision for manufacturers, wholesalers and retailers. The significance of choosing Last-In, First-Out (LIFO) accounting or First-In, First-Out … Continue reading

Posted in Accounting Systems Design, CFO Services, Inventory Management, Los Angeles | Tagged , , , , , , , , , , , | Leave a comment

What to Know When You’re Transitioning Accounting Duties

This article is by Mark S. Becker, Partner, CFO Edge, LLC. Transitioning accounting duties comes into play in scenarios like an acquisition, a merger or outsourcing accounting to a third-party services provider. Challenges in transitioning accounting duties occur if procedures … Continue reading

Posted in Accounting Systems Design, Acquisition Accounting, CFO Services, Financial Reporting, Los Angeles, Merger & Acquisition Planning | Tagged , , , , , , , , | Leave a comment

How Much Financial Data is Too Much Financial Data?

This week’s article is by Mark S. Becker, Partner, CFO Edge, LLC. Charged with delivering financial information to management, a finance team can sometimes provide too much data with negative impacts in many areas. When management receives too much financial … Continue reading

Posted in Accounting Systems Design, CFO Services, Financial Communication, Financial Reporting, Financial Statements, Los Angeles, Management Reporting | Tagged , , , , , , , , , , | Leave a comment

Should You Consider Implementing Project-Based Accounting?

This week’s linked article is by John W. Braine, Partner, CFO Edge, LLC. Project-based accounting (or PBA) is frequently applied by project-based businesses in manufacturing, construction, professional services and government-contracting sectors. Contrasted with standard accounting, expenses and revenue are tracked … Continue reading

Posted in Accounting & Finance Departments, Accounting Systems Design, Activity-Based Costing, CFO Services, Financial Planning & Analysis (FP&A), Financial Reporting, Los Angeles, Project-Based Accounting | Leave a comment

Robotic Process Automation: The Future of Digital Technology

This week’s post and linked full PDF are by John W. Braine, Partner, CFO Edge, LLC. In our recent article, The Need to Bring Finance & Accounting into the Digital Age, we looked at how important it is for finance groups … Continue reading

Posted in Accounting & Finance Departments, Accounting Systems Design, Cost Cutting Strategies, Finance & Digital Technology, Financial Operations, Financial Strategy, Financial Trends, Los Angeles, Risk Management | Tagged , , , , , , , | Leave a comment

Continuous Accounting: A Paradigm Shift for Finance Teams

This week’s post and linked full PDF are by Arthur F. Rothberg, Managing Director, CFO Edge, LLC. Contrasted with the record-to-report accounting model in widespread use over the last century, continuous accounting is a paradigm shift for finance teams. The … Continue reading

Posted in Accounting & Finance Departments, Accounting Systems Design, CFO Services, Continuous Accounting, ERP Software, Financial Infrastructure, Los Angeles | Tagged , , , , , , , , | Leave a comment

The Need to Bring Finance & Accounting into the Digital Age

This week’s post and linked full PDF are by John W. Braine, Partner, CFO Edge, LLC. The need to bring finance and accounting into the digital age springs from a disconnect: while so much of our personal and business activities … Continue reading

Posted in Accounting & Finance Departments, Accounting Systems Design, CFO Services, Financial Infrastructure, Financial Leadership, Los Angeles | Tagged , , , , , , , , , | Leave a comment

The Benefits of Revisiting Processes, Workflows & Technology

This week’s post and linked full PDF are by Arthur F. Rothberg, Managing Director, CFO Edge, LLC. When companies have operated for more than ten years without significant changes to their processes, workflows, and technologies, it is likely they are not … Continue reading

Posted in Accounting Systems Design, Accounts Payable, CFO Services, Cost Cutting Strategies, Expense Reduction, Financial Infrastructure, Los Angeles, Operational Analysis, Workflows & Processes | Tagged , , , , , , , , , , , , , | Leave a comment

Start Preparing Now for New Revenue Recognition Standard

This week’s post and linked full PDF are by Howard Goldman, Partner, CFO Edge, LLC. While the effective dates have been delayed for the new FASB/IASB revenue recognition standard replacing industry-specific GAAP rules, Los Angeles and Southern California executives face … Continue reading

Posted in Accounting Systems Design, CFO Services, Corporate Governance, Financial Infrastructure, Financial Reporting, Financial Statements, Generally Accepted Accounting Principles (GAAP), Los Angeles, Revenue Recognition | Tagged , , , , , , , , , | Leave a comment

Management Accounting & Improving Strategic Decision Making

This week’s article is by John W. Braine, Partner, CFO Edge, LLC. Seeking more actionable financial and operational data reporting, Los Angeles and Southern California executives are taking closer looks at management accounting for improving strategic decision making. Findings in a … Continue reading

Posted in Accounting & Finance Departments, Accounting Systems Design, CFO Services, Corporate Governance, Financial Strategy, Los Angeles, Management Accounting | Tagged , , , , , , , , , | Leave a comment