CFO Summit 2011

Today is the CFO Summit 2011

and really learn lot of things today

first topic talking about Manage Risk & Reward

got two level

Operation & management level

Operational level consist cost which lean & mean, quality (Total Quality Management(TQM))

speed (Just in Time(JIT))

Management level consist smart which is deep insight of the information, agile and aligned which the speaker said must be together which is making fast decision and adapt to changes(agile) and extended enterprise which need to align with everybody else (aligned) that is why this two components need to stick together

1) Stakeholder-information in market and customer

2) Market-portfolio increase profit, diversify to decrease the risk

3) Business model-Leverage technology

4&5) Rolling & Annual Budget for operational and also finance. Timing is to use the fastest time to identify the fastest the better. These are the factor which use for planning and financial planning.

6)Operation problem

AirAsia story

1) Competition got innovation which can also increase their productivity and help the company growing.

2) Looking at the statement, people will give opinion and feedback back to the company.

10 opinion from customer and company will try to implement and fulfill their requirement and will help the company growing in the future too.

And there is some participant stress out some point saying that

Company should FOCUS MORE ON COSTING, MANAGING AND IMPLEMENTING THE PRODUCT AND SERVICES AND LEARN FROM EXPERIENCE AND NOT JUST BASED ON ACCOUNTING STANDARD although we are accountant.

Technology-Technology is a very important issue which we are living in a technology era and we can use technology to improve the product and services by providing faster output to customer.

Forensic Accounting and Investigation was the second session

INVESTIGATION the problem which arise and the evidence to gather to detect fraud

FRAUD-normally will cause fraud because of PRESSURE, OPPORTUNITY AND RATIONALIZATION

CFO-need to analyze financial nature of financial statement and detect fraud or error and think of the damage may incurred. (ENRON case)

PRESSURE- financial performance cannot reach the expected KPI and inherent pressure

Normally those who understand system, understand internal Control and understand documentation that is why Segregation of duties is important for every organisation

3 important criteria are CORRUPTION, MISAPPROPRIATION AND FRAUDULENT STATEMENT.

After the lunch got other 3 session

which talking about ETP which really didn't stress out much and get much from that

Next talking about FOREX

is about using Hedging to reduce risk

Last session talking about Role in Stakeholders Relations & Corporate Affairs

which talking about value investor

like what I mentioned before in my previous blog about this kind of investment

which looking at these factor:

i) Profits making company

ii) Dividend distribute by the company

iii)Increase in Shareholder Value

iv)Increase in Operating Cash Flow

v) Free Cash Flow

vi)Positive Net Tangible Assets

Really enjoy this year CFO Summit and enjoy it lot

Happy always