Leadership

An illustration of the introduction the 5 WHYs root cause analysis tool.

The 5 WHYs – Ultimate Tool for Root Cause Analysis in Finance

Five whys (or 5 whys) is an iterative interrogative technique used to explore the cause-and-effect relationships underlying a particular problem. The primary goal of the technique is to determine the root cause of a defect or problem by repeating the question “Why?”. Each answer forms the basis of the next question. The “five” in the …

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An illustration of the four things you need to build a sustainable workforce.

How Can You Build A Sustainable Workforce in Your Company?

The global business community is changing along with the rest of the planet. As a result, companies must embrace entering new technology eras, gradually create, adapt, and expand – and most importantly, take their staff with them on that trip – in order to not just go forward in this new environment but keep up …

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The 12 FP&A Principles for Finance Professionals

More than 700 businesses from all around the world took part in a survey that Lawrence Serven and the Institute of Management Accountants (IMA) created. The methodology used in this survey set it apart from others. Previous studies concentrated on a certain approach before going backward to identify success stories. Instead, the IMA survey concentrated …

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An illustration of a printing machine printing a piece of paper with AI

How AI Is Changing Our Jobs as a Finance Professionals

AI will have an influence on every employee, in every sector of the economy, and in every nation. There are serious worries that AI may completely eliminate jobs. The unpleasant realities of workforce automation have been widely reported on, especially as it relates to particular job categories and populations. For instance, the Brookings Institution concluded …

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A clip art of cost-cutting technique implemented.

How Can You Implement Cost-Cutting as A Finance Professional?

Cost-cutting refers to actions taken by a business to lower its costs and increase profitability. Cost-cutting strategies are often employed when a firm is experiencing financial difficulty or when the economy is weak. However, they can also be implemented if a company’s management anticipates future problems with profitability, in which case cost-cutting can then be …

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