Training Badge
Submitted by CEO2020 on
in

Forums

I have a specific type of issue that arises between a CFO and high level manager.

 

The manager as a "High C" wants his data to be correct and 99.9% or better.

So he continually makes changes to update the results even if the changes are minimal.

 

The CFO , another "High C" ,on the other hand gets frustrated since every time he gets reports from the manager the historical numbers look different then before.  The CFO wants the same figures as they were for outside reporting.

 

My question to manager tools forum is where is the issue in communication here and I can clearly see that both people have different goals to achieve yet somehow they are in conflict.

 

Could someone lend me some advice?

cim44's picture
Training Badge

Is the issue more that the CFO agrees with, but does not understand the changes? If yes, then can you prepare a reconciliation from last time to this time.  If no, and the issue is that the CFO doesn't want the numbers to change then you need to have a discussion wth this manager as to how to meet the needs of the CFO.  What happens now when the two are out of sync?

jhowse's picture
Licensee BadgeTraining Badge

 

I sympathise with the CFO.  As a CFO myself, I can get frustrated when people spend time making inconsequential changes to numbers.

Financial reports for management are meant to aid in decision making.  If time is being spent making changes to numbers that are unlikely to have any bearing on decision making by the users of those numbers then it would seem a waste of time.  It reminds me of a Drucker quote:  "There is nothing so useless as doing efficiently that which should not be done at all."  I would add:  "If you spend too much time looking in the rearview mirror, you will crash into the car in front of you."

Best of luck with those high C's.