Weathering the Storm Part 11: Data Analytics & AI – Automation

  |  June 4, 2020

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In part 2 of our series on Data Analytics & AI, we dive deeper into a technology known as robotic process automation (RPA) – it is disrupting Internal Audit, Finance and Accounting. RPA is a form of business process automation that uses software “bots” to automate high-volume, repetitive tasks enabling heightened productivity by streamlining lower... Read More

Weathering the Storm Part 10: Data Analytics & AI: An Introduction

  |  June 4, 2020

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The scale of business disruption caused by COVID-19is unprecedented. But adversity often acts as a catalyst and accelerator for change. The adoption of software tools to access data and theuse of AI by businesses is already well underway—in a survey conducted by The Economist, 75% of executives said “AI will be ‘actively implemented’ in companies... Read More

Weathering the Storm Part 9: Detailed Cash Availability Actions Steps

  |  June 4, 2020

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The Covid19 pandemic has introduced a variety of challenges across corporate organizations. Crisis-mode has hit many small and mid-sized businesses. Active management of every invoice, sales order, and payroll must take place to ensure liquidity and maintain viability. Cash-impacting actions should be a part of the daily routine in today’s “new normal” including: Cut non-critical... Read More

Weathering the Storm Part 7: Accounting & Reporting for the Quarter

  |  June 3, 2020

As companies navigate this crisis during their current reporting quarter, here are some accounting and disclosure topics to keep in mind: Impairment: consider any trigger events for impairment affecting assumptions in your FV models related to long-lived assets, goodwill and other intangible assets Revenue: consider updating estimates for changes in variable consideration & collectability Insurance... Read More

Weathering the Storm Part 6: Restructuring Considerations – Debt and Other Liabilities

  |  June 3, 2020

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Continuing our series on restructuring strategies, we now focus on debt and other liability considerations and their impact to cash flow: Debt Covenant Review – could trigger acceleration of cash debt obligations or require loan restructuring/modifications, which may result in charges to the P&L Defined Benefit Plans – curtailment/settlements may require interim re measurement of... Read More

Weathering the Storm Part 5: Restructuring Considerations

  |  June 2, 2020

As companies consider restructuring strategies, they should evaluate the accounting and cash impact of restructuring all or a portion of their operations Involuntary terminations – charges may need to be recognized upfront vs. over service period and may result in reduction of future employee expense Contract termination costs – could require immediate recognition of entire... Read More

Weathering the Storm Part 4: Restructuring Strategy Considerations

  |  June 2, 2020

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With the outbreak of COVID-19, companies are facing tough decisions and looking at their operations and debt to identify changes to help weather the storm. If you are considering restructuring some or all operations and debt obligations, we recommend you: Review debt obligations and required covenants. Review capital commitments to identify what can be delayed... Read More