The Financial Controller and CFO's Toolkit. Parmenter David

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      David Parmenter

      Winning CFOs

      The Financial Controller and CFO's Toolkit

       Lean Practices to Transform Your Finance Team

      Third Edition

      DAVID PARMENTER

      Copyright © 2016 by David Parmenter. All rights reserved.

      Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

      The second edition of this book was published in 2011 under the title Winning CFOs: Implementing and Applying Better Practices. The first edition was published in 2007 under the title Pareto's 80/20 Rule for Corporate Accountants.

      Published simultaneously in Canada.

      No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the Web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions.

      Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.

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      Wiley publishes in a variety of print and electronic formats and by print-on-demand. Some material included with standard print versions of this book may not be included in e-books or in print-on-demand. If this book refers to media such as a CD or DVD that is not included in the version you purchased, you may download this material at http://booksupport.wiley.com. For more information about Wiley products, visit www.wiley.com.

       Library of Congress Cataloging-in-Publication Data is available:

      ISBN 978-1-119-28654-7 (Hardcover)

      ISBN 978-1-119-29131-2 (ePDF)

      ISBN 978-1-119-29132-9 (ePub)

      Cover Design: Wiley

      Cover Image: © Kamaga/iStockphoto

      About the Author

      David Parmenter is an international writer and speaker who is known for his engaging presentations and practical and informative books. His workshops have created substantial change in many attendees' organizations. David is a leading expert on lean finance team practices, rolling forecasting and planning, and the development of winning key performance indicators (KPIs). His work on KPIs is recognized internationally as a breakthrough in understanding how to make performance measures work. He has delivered interactive workshops in 31 countries over the last 20 years. David has worked for Ernst & Young, BP Oil Ltd., Arthur Andersen, and PricewaterhouseCoopers, and is a fellow of the Institute of Chartered Accountants in England and Wales. He is a regular writer for professional and business journals.

      This book is a follow-on from Pareto's 80/20 Rule for Corporate Accountants and Winning CFOs – Implementing and Applying Better Practices. He is also the author of Key Performance Indicators: Developing, Implementing and Using Winning KPIs, Key Performance Indicators for Government and Non Profit Agencies: Implementing Winning KPIs, and The Leading-Edge Manager's Guide to Success (all from Wiley).

      David Parmenter can be contacted via [email protected] or on +64 4 499 0007. His website, www.davidparmenter.com, contains many white papers, articles, and freeware that will be useful to readers to implement change.

      Testimonials

      What can you expect from this book? Why not read these testimonials on David Parmenter's previous edition of this book and on his workshops and key note addresses.

      Praise for the book “Winning CFOs” (the second edition)

      Mr. Parmenter has created yet another fine management reference tool with his Winning CFOs book. It reveals how a CFO can be a better manager, and run an accounting and finance function that delivers world-class results. Highly recommended reading for the CFO who is committed to self-improvement. Steven M. Bragg, author of Accounting Best Practices

      In this timely book, David Parmenter provides CFOs and their finance colleagues with a number of practical guidelines that will enable them to spend less time on the basic accounting routines and more time adding value and becoming a valued business partner. Jeremy Hope, author of Reinventing the CFO

      The CFO can make a major contribution to value creation by the use of information focusing on the critical value drivers in the business. These practical tools and techniques will be invaluable to the busy CFO.

      Ken Lever, CFO, Xchanging plc

      Praise for the “Lean Finance Team Processes” workshop

      We attended David's course on “Winning Finance Teams” and we have had instant success with our Flash report. My Accounting team managed to get the flash report for November completed by 4.00pm on the second day. The workshop gave us the tools and the mindset to achieve this result. Ron Milne, General Manager Finance, Enware Australia Pty Ltd

      The three main highlights for me from attending David Parmenter's “Winning CFO” were; David's tight and punchy delivery style, access to soft copy templates to customise and implement in my organisation, and breakout sessions at the end of each section. Amanda McPherson, Director of Finance, Melbourne Convention Exhibition Centre

      One of our team members attended your lean finance team processes one-day workshop in Sydney and from that we have: reduced our monthly management report (approximately 30 pages) to the A3 report template from the course, shortened our month end process, run daily stand – up meetings (scrums) for those still involved in the month-end process. Kelly Simpson, Australian Financial Controller, Harcourts

      These workshops are now available as recorded webinars, see

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