SHARED FROM:
BUILDING WORLD-CLASS
BUSINESS FOR THE LONG TERM
BY NAZATUL IZMA
ACCOUNTANTS TODAY, MARCH/APRIL
2014
One of the
biggest challenges is changing the perspective of corporate reporting
organizations and boards must focus on the critical areas which are:
·
Cost
leadership
·
Robustness
of the supply chain
·
Motivating
staff, and
·
Attracting
and retaining customers
Sustainability
has the potential to drive business value across 4 segments:
1. Revenue generation
2. Cost control
3. Building trust
4. Risk management
CFOs play a
huge role in sustainability. The emphasis
is for the organizations to ensure the finance professionals are given the
opportunity to become business partners and to work across the business to add
value.
Management accounting
has become more relevant than ever before.
Management accountant have the ability and judgment to make objective,
ethical decisions that consider the public interest.
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