Resources, Guides, and Advice From Peers and Experts
Right now, business leaders are turning to the Finance department for answers. As a finance professional, you’re tasked with bringing clarity to one of the most unpredictable, uncertain, and unprecedented crises our modern society has ever seen. You need all the information, advice, and tools you can get.
We’ve compiled this list of publicly available resources — we personally found these articles’ insights and guidance helpful, and we thought you might find them useful, too.
What the Experts Are Saying: Helpful Resources for FP&A
The Wall Street Journal: Companies Retool to Assist in Fight
“Distillers concoct hand sanitizer, a car maker offers to assemble ventilators, a jeans factory switches to face masks.” As the pandemic turns many industries upside down, learn how some companies are quickly pivoting their operations to produce much needed supplies for their fellow citizens. This article explores a global effort reminiscent of the manufacturing spirit of World War II, and is a great reminder of how companies put humanity first when times get tough.
PriceWaterhouseCoopers: PwC’s COVID-19 CFO Pulse Survey
Wondering what your finance peers are thinking and doing in response to COVID-19? This article from PwC lays out the top concerns and considerations from a recent survey of 55 finance professionals.
The Wall Street Journal — CFO Insights and Analysis from Deloitte: Capex Risk Modeling for COVID-19 Response
As the economic impacts of COVID-19 start to set in, finance professionals everywhere are focused on re-forecasting scenarios and assessing a variety of tangible and intangible variables in order to chart a risk-adjusted path forward. Charles Alsdorf, managing director at Deloitte, lays out a 4-step Framework that helps CFOs develop a risk-resilient plan to understand, prepare for, and mitigate business impacts and uncertainties: “Such planning can position the company to emerge as strong as possible as soon as possible.”
CFO Journal: Crisis Management: The Overlooked Leadership Skill
The word leadership is thrown around quite frequently but leadership comes in many different forms. This article dives into leadership strategies that can be deployed immediately and is a must read for anyone tasked with leading people and organizations through this uncertain time.
The Wall Street Journal — CFO Insights and Analysis from Deloitte: Financial Reporting Considerations for Virus Impacts
As the first quarter of 2020 for many companies ended yesterday, key accounting and disclosure considerations related to COVID-19 will arise, leaving a direct impact on financial reporting and financial statement disclosures. This article includes an overview of key accounting considerations that all finance leaders should be aware of, as well as recent public statements made by SEC Chairman Jay Clayton at the end of January and in mid-February.
How will the impact of the COVID-19 pandemic affect our economic and social world order after the virus subsides? This article published by McKinsey explores five stages that we will experience, individually and collectively, as we fight the battle against COVID-19 and re-establish our “normal” lives.
Stay Tuned for More Useful FP&A Content
In the coming days and weeks, we will be launching The FP&A Community on Slack, and a recurring FP&A Live Roundtable — an open forum of business executives, practitioners, and industry thought leaders to engage in a thoughtful discussion about all things FP&A and how you can navigate the day-to-day complexity of the COVID-19 crisis. Please dive in and invite your friends and colleagues.
Until next time, please stay safe and healthy.