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December 11, 2012
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Business Finance Today 
  • Watchdog: Auditors' tests of internal controls are inadequate
    The Public Company Accounting Oversight Board said it discovered that Big Four and second-tier audit firms are failing to adequately test companies' internal financial controls in some audits. The U.S. government's audit watchdog said it found the problem more often in 2011 than in 2010. Reuters (12/10) LinkedInFacebookTwitterGoogle+Email this Story
Your Bottom Line 
  • CFOs are cautiously optimistic about 2013
    Forty-six percent of finance chiefs, treasurers and other financial professionals surveyed said they believe business conditions will be better next year, but growth could be threatened by the "fiscal cliff" and other issues in Washington, according to the 2013 Association for Financial Professionals Business Outlook. Respondents also said they expect access to credit will largely remain the same next year, with only 6% expecting access to short-term credit to decrease. The Wall Street Journal/CFO Journal (tiered subscription model) (12/10) LinkedInFacebookTwitterGoogle+Email this Story
  • How EPS keeps public companies from investing in R&D
    Public companies' opportunities to increase their research-and-development spending often are ignored because of fears about short-term earnings per share, write John Cryan and Joseph Theriault of Fortuna Advisors. Public companies face this pressure because of "the accounting treatment of R&D as a period expense and the overemphasis many public-company executives place on EPS," Cryan and Theriault write. (12/5) LinkedInFacebookTwitterGoogle+Email this Story
In the C-Suite 
  • How to lead like a Zen master
    When someone presents you with an idea, you should take a deep breath and wait 24 seconds before letting yourself criticize it, Cue Ball CEO Tony Tjan says. If you can manage 24 seconds, then try 24 minutes. "Then if you become a Zen master of optimism, you could wait a day and spend that time thinking about why something actually might work," he says. The New York Times (tiered subscription model) (12/8) LinkedInFacebookTwitterGoogle+Email this Story
  • Take big risks, or you're guaranteed to fail
    Bosses should be willing to take big risks, otherwise they'll never succeed, says Tom Perkins, co-founder of Kleiner Perkins Caufield & Byers. "If there is no risk, you have already missed the boat. Your competitors will already be there," Perkins says. Knowledge@Wharton (12/5) LinkedInFacebookTwitterGoogle+Email this Story
On the Move 
  • Robert Christensen has been promoted to CFO at Paccar. He has held several positions with the maker of Kenworth and Peterbilt commercial trucks. Jones Newswires (12/10) LinkedInFacebookTwitterGoogle+Email this Story
  • Larry Donaldson is the new CFO at Rockhaven Resources. Donaldson is a chartered accountant with more than 30 years of experience. (12/10) LinkedInFacebookTwitterGoogle+Email this Story
Off the Charts 
Political theater is having a crippling effect on corporate spending and hiring, even corporate decision-making."
--Jim Kaitz, CEO of the Association for Financial Professionals, as quoted by The Wall Street Journal's CFO Journal
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