As companies are evaluating continued operations, balancing profits with acceptable levels of loss, functioning with massively more remote work and trying to make up for economic disruptions, the first thought tends to be “How can we cut costs?”
Saul Van Beurden's team is tasked with keeping systems running during the pandemic, including driving equipment to homebound workers. Yet the bank must continue making upgrades demanded by regulators, investing in new technology and recruiting top talent, he says.
Management accountants and CFOs can play an important role in guiding companies through the strategic options available to cope with the COVID-19 pandemic.
Many will reconfigure what they do to the new reality and will make some investments in updating and formalizing some of their Band-Aid processes.
The Pittsburgh company’s sale of its stake in the asset manager yielded billions of dollars that could cushion the pandemic’s economic blow and eventually help fund a big acquisition.
A lack of modern lease accounting capabilities makes it difficult for many businesses with large lease portfolios to regain control, improve liquidity and plan for the future.
The challenges for corporate reporting after COVID-19
Employees are worried about whether they can return to work safely.
Despite this unprecedented crisis, organizations are responding with determination, purpose and compassion.
The American Institute of CPAs’ Professional Ethics Executive Committee has decided to postpone the effective dates for three of its ethics interpretations in its Code of Professional Conduct for one year, due to the impact of the novel coronavirus pandemic.