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Top Reporting Challenges
facing both the Private and
Public Sector
Senior Data and AI Specialist – Paul Young CPA
CGA
April 3, 2023
Paul Young CGA CPA
Senior Data and AI Expert
• CPA, CGA (1996)
• Academia (PF1, FA4, FN2, MU1. and
MS2)
• SME – Customer Success Management
• SME – Risk Management
• SME – ESG and Sustainability Reporting
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
• SME – Data, AI, Security, and Platform
• SME – Internal Controls and Auditing
Contact information email: paul_young_cga@outlook.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
SlideShare - https://www.slideshare.net/paulyoungcga
Twitter: https://twitter.com/paulyoungcpa
Youtube - https://www.youtube.com/user/youngercga1968/videos
3
Agenda • Key areas - 2023 business and legislative
trends for large enterprises
• Top mistakes by CFO
• Top 10 accounting challenges
• Accounting Standards – Segment Reporting
• Key focus areas / Accounting Rules
• Close, consolidate, and reporting solutions
• Asset management and monitoring
• ESG and Circular Economy
• Mobility and Data
• Trends and Data
2023 business and legislative
trends for large enterprises
Add a footer 4
Top Mistakes by CFO 1. Profits are a dream, but cash is a reality
2. Not focusing on cash flow forecasting precision within a 90-
day window and accuracy after 90 days
3. Lack of clarity & collaboration in your record-to-report
4. Month-end close process that takes longer than five
business days
5. Not having control over your order-to-cash process
Add a footer 5
Top Accounting Challenges 1. Payroll errors
2. More financial analysis
3. Cyber security threats and mitigation
4. Regulatory changes and new accounting
standards
5. Financial reporting
6. Diversified accounting skills
7. Automation and AI
8. Remote work
9. Advance marketing strategies
10. Cash flow statement
Add a footer 6
Segment Reporting Proposal
Add a footer 7
IFRS Workplan / ESG
Add a footer 8
Key Areas 1. Lease accounting - https://www.ifrs.org/news-and-events/news/2022/10/iasb-
amends-accounting-standard-to-improve-information-about-long-term-debt-with-
covenants/?utm_medium=email&utm_source=website-follows-
alert&utm_campaign=immediate
2. IFRS17 – Insurance - https://ifrs17explained.com/
3. Inflationary -
https://viewpoint.pwc.com/dt/gx/en/pwc/in_depths/in_depths_INT/in_depths_INT/
Navigating-IFRS.html
4. Cyber security - https://www.ey.com/en_us/assurance/accountinglink/us-week-in-
review-6-october-20221
5. Segment reporting - https://www.ey.com/en_us/assurance/accountinglink/us-
week-in-review-6-october-20221
Add a footer 9
Close, Consolidate, and
Reporting
Add a footer 10
Asset Management and
Monitoring
Add a footer 11
ESG Reporting
Add a footer 12
Mobility and Data
Add a footer 13
Trends and Data
Add a footer 14
Additional Links
Data and AI
• Planning Analytics - https://ibm.box.com/s/oo8zp0iqcycn5sn5di9l8nk7j3iuxujc
• Cognos Analytics – https://ibm.box.com/s/phj8jboct9qzmh2nyg8vn4gx77dpp93k
• Cognos Controller - https://ibm.box.com/s/14e2j0bl01sjcerlho2tobawcqpq2mgj
• Internal Audit and Risk - https://ibm.box.com/s/6n2kfmrgm96064kazf5g7ax9oouzkn2t
• Sustainable reporting - https://ibm.box.com/s/kkfesczzysj005fj0ymia890q18yedu5
• Watson Machine Learning - https://developer.ibm.com/components/watson-ml-accelerator/blogs/
• Python and Planning Analytics - https://quebit.com/askquebit/IBM/leveraging-tm1py-to-interact-with-
ibm-planning-analytics-using-python/
Add a footer 15

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Top Reporting Challenges facing both the Private and Public Sector.pptx

  • 1. Top Reporting Challenges facing both the Private and Public Sector Senior Data and AI Specialist – Paul Young CPA CGA April 3, 2023
  • 2. Paul Young CGA CPA Senior Data and AI Expert • CPA, CGA (1996) • Academia (PF1, FA4, FN2, MU1. and MS2) • SME – Customer Success Management • SME – Risk Management • SME – ESG and Sustainability Reporting • SME – Close, Consolidate and Reporting • SME – Public Policy • SME – Emerging Technology • SME – Business Process Change • SME – Financial Solutions • SME – Macro/Micro Indicators • SME – Supply Chain Management • SME – Data, AI, Security, and Platform • SME – Internal Controls and Auditing Contact information email: paul_young_cga@outlook.com LinkedIn: https://www.linkedin.com/in/paul-young-055632b/ SlideShare - https://www.slideshare.net/paulyoungcga Twitter: https://twitter.com/paulyoungcpa Youtube - https://www.youtube.com/user/youngercga1968/videos
  • 3. 3 Agenda • Key areas - 2023 business and legislative trends for large enterprises • Top mistakes by CFO • Top 10 accounting challenges • Accounting Standards – Segment Reporting • Key focus areas / Accounting Rules • Close, consolidate, and reporting solutions • Asset management and monitoring • ESG and Circular Economy • Mobility and Data • Trends and Data
  • 4. 2023 business and legislative trends for large enterprises Add a footer 4
  • 5. Top Mistakes by CFO 1. Profits are a dream, but cash is a reality 2. Not focusing on cash flow forecasting precision within a 90- day window and accuracy after 90 days 3. Lack of clarity & collaboration in your record-to-report 4. Month-end close process that takes longer than five business days 5. Not having control over your order-to-cash process Add a footer 5
  • 6. Top Accounting Challenges 1. Payroll errors 2. More financial analysis 3. Cyber security threats and mitigation 4. Regulatory changes and new accounting standards 5. Financial reporting 6. Diversified accounting skills 7. Automation and AI 8. Remote work 9. Advance marketing strategies 10. Cash flow statement Add a footer 6
  • 8. IFRS Workplan / ESG Add a footer 8
  • 9. Key Areas 1. Lease accounting - https://www.ifrs.org/news-and-events/news/2022/10/iasb- amends-accounting-standard-to-improve-information-about-long-term-debt-with- covenants/?utm_medium=email&utm_source=website-follows- alert&utm_campaign=immediate 2. IFRS17 – Insurance - https://ifrs17explained.com/ 3. Inflationary - https://viewpoint.pwc.com/dt/gx/en/pwc/in_depths/in_depths_INT/in_depths_INT/ Navigating-IFRS.html 4. Cyber security - https://www.ey.com/en_us/assurance/accountinglink/us-week-in- review-6-october-20221 5. Segment reporting - https://www.ey.com/en_us/assurance/accountinglink/us- week-in-review-6-october-20221 Add a footer 9
  • 12. ESG Reporting Add a footer 12
  • 13. Mobility and Data Add a footer 13
  • 14. Trends and Data Add a footer 14
  • 15. Additional Links Data and AI • Planning Analytics - https://ibm.box.com/s/oo8zp0iqcycn5sn5di9l8nk7j3iuxujc • Cognos Analytics – https://ibm.box.com/s/phj8jboct9qzmh2nyg8vn4gx77dpp93k • Cognos Controller - https://ibm.box.com/s/14e2j0bl01sjcerlho2tobawcqpq2mgj • Internal Audit and Risk - https://ibm.box.com/s/6n2kfmrgm96064kazf5g7ax9oouzkn2t • Sustainable reporting - https://ibm.box.com/s/kkfesczzysj005fj0ymia890q18yedu5 • Watson Machine Learning - https://developer.ibm.com/components/watson-ml-accelerator/blogs/ • Python and Planning Analytics - https://quebit.com/askquebit/IBM/leveraging-tm1py-to-interact-with- ibm-planning-analytics-using-python/ Add a footer 15

Editor's Notes

  1. https://www.wolterskluwer.com/en/expert-insights/2023-business-and-legislative-trends-for-large-enterprises
  2. https://www.highradius.com/resources/Blog/top-5-mistakes-of-cfos-in-2022-to-avoid-in-2023/
  3. https://www.side.cr/10-biggest-accounting-challenges-and-solutions-in-2023/
  4. https://tax.thomsonreuters.com/news/fasb-proposes-biggest-changes-in-25-years-for-public-company-disclosure-of-business-unit-expenses/
  5. https://www.ifrs.org/news-and-events/news/2022/11/issb-confirms-requirement-use-climate-related-scenario-analysis/