Current Issue

Cover story: Growth

Seize the moment

With deleveraging complete for many of our larger companies, finance chiefs have been under pressure to put their money to work. But with volatility a fact of life now the key is to be adaptable and take your chances when you can, Ann-Maree Moodie writes. Plus Sovereign risk the spoiler | Busy, not buzzy

M&A activity on the rise

As the new financial year ticked over, there was a flurry of announced and completed deals, including a return of big private equity to the local market.

Companies grow again, on their terms

The call to leverage up and invest to grow was emerging again last year, but more have been able to take their time to pick the right strategy, writes Shaun Drummond.

Management

Culture Sex and the Joneses

The $37 million sexual harassment lawsuit against David Jones and the swift departure of its CEO have raised urgent questions about board behaviour. Ann-Maree Moodie looks at the cultural messages.

Economy US banks likely to avoid new rules

In the absence of a global agreement on regulating the banks, there will always be the danger that these financial institutions will just shift more of their activities to more favourable regions, Fariborz Moshirian writes.

Resume Skills shortages touted but finance sector even

A rise in employer sentiment has led recruiters to announce a swift return of skills shortages, but demand and supply is still pretty evenly matched for financial services and accounting roles. Plus CFO in CFO out Industry appointments and departures

eCFO Focus: Broadband

Popular networking

The federal election won't determine whether Australia will have a high-speed national broadband network, but rather whether a Labor government or ‘the market’ will build it, Maggie Macrae reports.

Finance & treasury

Cash management Go with the flow

Greater levels of liquidity are now demanded of many businesses. Amal Awad looks at what is considered an acceptable level of cash and equivalents these days and how that is influencing growth.

Hedging Smoother strategies

Volatility has increased the price of derivatives and led more chief financial officers to look for natural hedges, but for many the benefits still outweigh the costs, Alexandra Cain writes.

CFO Professional

Accounting Truth or embroidery?

When international accounting rules met the GFC, companies were keen to underplay statutory results in their reporting. Leon Gettler looks at whether this is fair and reasonable or just window dressing.

Technical A new language to learn

An exposure draft of revenue standards proposes recognising sales only where the transaction price can be reasonably estimated, John Shanahan writes, and the terms indicate that pricing could become quite complex.

Interview

JeanPascal Beaufret A broader cause

The National Broadband Network's finance chief is convinced that Australia needs to allocate money for a project of such significance, Shaun Drummond writes.

Opinion

Editor's letter Time to decide

By the time you read this it will be almost time to cast your vote in the federal election. For business in general it is hard to see what difference it will make whether Tony Abbott or Julia Gillard is PM. The smaller miners, and possibly the big ones, despite their deal with the government, may count a Coalition win a victory; one they played a big hand in.

Viewpoint Facing the facts on fat

Silvio Santostefano, the finance chief of Sensis – Telstra’s media and directories business – is passionate about reducing childhood obesity through healthy living and programs that support active lifestyles.

Corporate governance Be ready when disaster strikes

The tragedy that befell Sundance Resources in a West African plane crash highlights how little attention is paid to succession planning for a company's executives and board – even the chief executive, Ann-Maree Moodie writes.

Regulation Taming the legal eagle

The federal Attorney-General’s proposal to reform the legal profession, in light of public concerns, does not go far enough, says Peter Mair. Changes should be more radical and involve clearer processes, time frames and costs.

Scrip

Small, large firms split on banks Small businesses satisfaction with the major banks has fallen, but larger firms have been happier | | Checking the fine print Directors are now asking for more detail on what backs up CFO and CEO sign-offs | Pay day sooner, but still tardy The time taken to pay by business remains above pre-crisis levels | Optimism keeps GFC doldrums at bay Our optimism is one reason we’ve fared better during the global recession, says AMP | Regulation top risk again Risks from regulation and compliance are the top worries, says an annual risk survey | Safe v sound bond investments for the year ahead Australia and Canada are the safest bet in the developed world for bond investments