Search results for:davidparmenter.com

Need a new search?

If you didn't find what you were looking for, try a new search!

5 steps to move from a Big 4 audit firm into corporate finance role

There are a number of steps to take:

before you move understand what best practice is  in corporate finance.  You will be surprised how little you know.  Unless you have been one of the lucky ones to have audited three of more excellent finance teams.
work out your own personal baggage and minimise it.  All […]

By |October 7th, 2021|Comments Off on 5 steps to move from a Big 4 audit firm into corporate finance role

10 one page reports that Finance teams need to use

10 one page reports that Finance teams need to use (extract from One-Page Finance Team Reporting Templates (90 page Whitepaper + electronic templates)

One page executive report using sparklines and bullet graphs
One page flash report of month-end summary numbers to the CEO by 5pm first working day
One page finance report to the CEO on an A3 […]

By |October 6th, 2021|Comments Off on 10 one page reports that Finance teams need to use

15 Steps to a Faster, Better Close

Establish Reporting Rules within the Finance Team
Catch All Adjustments in an “Overs and Unders” Schedule
Avoid a Huge Wave of Accounts Payable Invoices at Month-End
Early Closing of the Accounts Payable Ledger
Close Accruals before the Accounts Payable Cutoff
Avoid Inter company Adjustments
Early Closing-Off of Accounts Receivable
Early Capital Expenditure Cutoff
Early Inventory […]

By |February 18th, 2020|Comments Off on 15 Steps to a Faster, Better Close

20+ One Page Finance Team Templates For Daily, Weekly, And Monthly Reporting

Accountants need to be great communicators to fulfil their role successfully.  Gone are the days when reports could simply be drafted without consideration of the reader’s needs.  Reports should focus on how to best get the message across.  What are the salient points? Where can this report add value to the readers understanding?  And how […]

By |February 18th, 2020|Comments Off on 20+ One Page Finance Team Templates For Daily, Weekly, And Monthly Reporting

9 Steps to get the Finance Team Future Ready

 
9 Steps to Get The Finance Team Future-Ready
1. Get your next month-end reporting to three working days or less
I have a method that has helped hundreds of organizations get to reporting within three days.  It really comes down to common sense, which, unfortunately, is not that common. There are a number of practices you […]

By |December 20th, 2018|Comments Off on 9 Steps to get the Finance Team Future Ready

15 steps for a rapid month-end

 
Tips for a fast close at month-end
David Parmenter explains how you can delight the Chief Executive by completing your month-end reporting process inside three working days.
Embracing Peter Drucker’s abandonment mantra
Abandonment is the key to a lean month-end. The act of abandonment gives a tremendous sense of relief to a team for it stops the past […]

By |September 29th, 2015|Comments Off on 15 steps for a rapid month-end

The myths around KPIs

I have been writing about performance measures for more than 20 years. In all that time, I have only witnessed minimal advances in the way companies go about using them. All too often, the assessment of measures are treated as an afterthought.They are regarded as a box-filling exercise to demonstrate that we have achieved a […]

By |May 30th, 2015|0 Comments

20 steps to creating a lean finance team

The 20 steps to creating a lean finance team revolve around fixing the major blunders finance teams make, year-in and year-out.

1. Having over 80 account codes for the P/L – use the rule that you only have expense codes where the annual expenditure is over 1% of total annual expenditure
2. Only forecasting to year-end- forecast […]

By |May 30th, 2015|0 Comments

The free accounts payable system – A purchasing card

Introduce a purchasing card (P-card)
An extract from  50+ Ways To Improve Accounts Payable – Toolkit (70 page Whitepaper + e-templates)

The large study, already mentioned, states that the average cost of the whole purchase cycle has been estimated at $90 per transaction.  This is pretty horrific when you realize that a high portion of your transactions are […]

By |May 30th, 2015|0 Comments

The 10+ steps to moving accounts payable out of the dark ages

Two hundred years ago invoices were prepared by a quill pen and sent by the supplier to the customer to be manually entered, by quill pen into the books. As Exhibit 1.1 shows this was improved with the advent of the typewriter, computer, fax machine.  Now invoices can arrive automatically from the supplier’s accounting system […]

By |May 30th, 2015|0 Comments