Listing of AFP News Articleshttp://www.afponline.org/ArticleRss.ashxTue, 21 May 2013 23:32:44 -0400Tue, 21 May 2013 23:32:44 -0400FinCEN said last week that it has further extended the FBAR deadline for individuals who have signature authority over foreign accounts but no financial interest in them. Treasury and finance professionals with the ability to direct cash flow in their organizations’ foreign accounts now have until June 30, 2014 to report.http://www.afponline.org/pub/res/news/FBAR_Deadline_Extended_for_Certain_Finance_Pros.htmlThu, 03 Jan 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/FBAR_Deadline_Extended_for_Certain_Finance_Pros.htmlIn today's resource-constrained environment, the pressure is on to reduce capex and opex. What is inputted today as a capital investment and an asset may have strong future impact on operational efficiencies and return on investment (ROI) figures....http://www.afponline.org/pub/res/news/Keys_to_Effective_Capex_Management.htmlThu, 27 Dec 2012 00:00:00 -0400http://www.afponline.org/pub/res/news/Keys_to_Effective_Capex_Management.htmlA single paragraph in the proposal is giving accountants, industry pros and corporate practitioners severe heartburn. If the language survives, cash flow hedges of FX will potentially cause significant volatility in income statements.http://www.afponline.org/mbr/reg/res/reg_news/Treasury_Alert__Is_There_a_Fatal_Flaw_in_the_New_IFRS_9_.htmlWed, 28 Nov 2012 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Treasury_Alert__Is_There_a_Fatal_Flaw_in_the_New_IFRS_9_.htmlDaniel Vogel of Barclays Corporate U.S. Division discussing his upcoming roundtable at the 2012 AFP Annual Conference, which focuses on key issues for corporate end-users of derivatives.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Conference_Preview__Key_Issues_for_End-Users_of_Derivatives.htmlFri, 14 Sep 2012 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Conference_Preview__Key_Issues_for_End-Users_of_Derivatives.htmlMost FIs have made the switch to using OIS, but many corporates have not. It is important to understand the rise of OIS and how it can be incorporated into existing processes to ensure that organizations are prepared when asked to use this new methodology for hedge accounting and valuations of their derivatives portfolio.http://www.afponline.org/mbr/reg/res/reg_news/Best_Practices__Why_Corporates_Should_Adopt_OIS_Rates.htmlWed, 05 Sep 2012 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Best_Practices__Why_Corporates_Should_Adopt_OIS_Rates.htmlA recent survey by APQC found that 81 percent of large corporations are investing in at least one major program to improve core financial processes. The top three choices for change: planning and performance management, general accounting, and close-to-disclose activities.http://www.afponline.org/mbr/reg/res/reg_news/Best_Practices__Investing_in_Finance_Management_Processes.htmlFri, 31 Aug 2012 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Best_Practices__Investing_in_Finance_Management_Processes.htmlOne of the most effective ways of measuring a CFO’s effectiveness is the length of time it takes to close the books, according to a new study by Ventana Research. Organizations that close their monthly, quarterly or semiannual accounts within six days of the end of the period tend to display a higher level of efficiency than those who take longer.http://www.afponline.org/pub/res/news/Study__Closing_Process_Determines_CFO_Efficiency.htmlFri, 06 Jul 2012 00:00:00 -0400http://www.afponline.org/pub/res/news/Study__Closing_Process_Determines_CFO_Efficiency.htmlTreasury and finance professionals should settle in to their current positions for a while, if the Robert Half Professional Employment Report for Q3 2012 is any indication.http://www.afponline.org/pub/res/news/Report__CFOs_and_Other_Execs_Not_Hiring.htmlMon, 04 Jun 2012 00:00:00 -0400http://www.afponline.org/pub/res/news/Report__CFOs_and_Other_Execs_Not_Hiring.htmlAt the recent CTC Global Corporate Treasurers Forum, a money market fund discussion reaffirmed what AFP members have been saying for months: if the SEC’s proposed rule changes are enacted, corporates are likely to shed their money market fund investments.http://www.afponline.org/mbr/res/mbr_news/GCTF__Corporates_to_Bail_on_MMFs_if_Rule_Changes_are_Enacted.htmlSat, 26 May 2012 00:00:00 -0400http://www.afponline.org/mbr/res/mbr_news/GCTF__Corporates_to_Bail_on_MMFs_if_Rule_Changes_are_Enacted.htmlA new survey revealed that a significant number of CFOs and other senior executives are growing more prone to unethical practices.http://www.afponline.org/mbr/res/mbr_news/E_Y_Survey__15_Percent_of_CFOs_Willing_to_Pay_Bribes.htmlFri, 25 May 2012 00:00:00 -0400http://www.afponline.org/mbr/res/mbr_news/E_Y_Survey__15_Percent_of_CFOs_Willing_to_Pay_Bribes.htmlAFP Governance, Accounting & Compliance newsletter is seeking volunteers to serve on its Editorial Advisory Board—and you are invited to join.http://www.afponline.org/pub/res/news/Governance,_Accounting___Compliance_Newsletter_Seeks_Editorial_Advisory_Board_Volunteers.htmlTue, 15 May 2012 00:00:00 -0400http://www.afponline.org/pub/res/news/Governance,_Accounting___Compliance_Newsletter_Seeks_Editorial_Advisory_Board_Volunteers.htmlAFP has issued a joint comment letter, along with 21 other associations, to the Financial Accounting Standards Board and the International Accounting Standards Board, voicing concerns over the Proposed Accounting Standards Update on Leases. http://www.afponline.org/pub/res/news/AFP_Voices_Concerns_about_Lease_Accounting_Proposal_to_FASB_and_IASB.htmlFri, 27 Apr 2012 00:00:00 -0400http://www.afponline.org/pub/res/news/AFP_Voices_Concerns_about_Lease_Accounting_Proposal_to_FASB_and_IASB.htmlThe Association for Financial Professionals is readying a Request for Proposal (RFP) template to help treasury and finance professionals evaluate 401(k) plan service providers.http://www.afponline.org/pub/res/news/New_RFP_Evaluates_401(K)_Plan_Service_Providers.htmlTue, 24 Apr 2012 00:00:00 -0400http://www.afponline.org/pub/res/news/New_RFP_Evaluates_401(K)_Plan_Service_Providers.htmlGood news for treasury and finance pros with signature authority over certain foreign financial accounts: The Financial Crimes Enforcement Network (FinCEN) has extended the Report of Foreign Bank and Financial Accounts (FBAR) filing deadline to June 30, 2013, from June 30, 2012.http://www.afponline.org/mbr/res/mbr_news/FinCEN_Extends_FBAR_Filing_Deadline_on_Signature_Authority.htmlWed, 15 Feb 2012 00:00:00 -0400http://www.afponline.org/mbr/res/mbr_news/FinCEN_Extends_FBAR_Filing_Deadline_on_Signature_Authority.htmlCorporate treasury and finance professionals need to review the Q&A on AFP’s website to see if they have an individual reporting responsibility regarding Financial Bank Account Reporting, or FBAR. Treasury and finance professionals with signatory authority over their corporation’s foreign accounts and who have the ability to direct the flow of cash in those accounts, alone or in conjunction with another person, may be scoped in the guidance (e.g. initiate wires transfers).http://www.afponline.org/mbr/res/mbr_news/FBAR_Individual_Reporting_Requirements_Coming_for_Treasurers.htmlWed, 08 Feb 2012 00:00:00 -0400http://www.afponline.org/mbr/res/mbr_news/FBAR_Individual_Reporting_Requirements_Coming_for_Treasurers.htmlWith Greece near default and several other European nations downgraded by rating agencies (Portugal is now junk-bond status), the risk of default should be a significant concern for organizations that are heavily invested in these nations.http://www.afponline.org/mbr/res/mbr_news/Preparing_for_Sovereign_Default.htmlFri, 03 Feb 2012 00:00:00 -0400http://www.afponline.org/mbr/res/mbr_news/Preparing_for_Sovereign_Default.htmlWith updates being proposed, there is an expectation that hedge accounting regulations will be simplified. However, with the new proposals a few years away—and the enforcement of the new rules yet uncertain—financial professionals still need to overcome the compliance challenges today. This question is, how are treasurers applying hedge accounting?http://www.afponline.org/mbr/res/mbr_news/How_Treasurers_Apply_Hedge_Accounting.htmlTue, 17 Jan 2012 00:00:00 -0400http://www.afponline.org/mbr/res/mbr_news/How_Treasurers_Apply_Hedge_Accounting.htmlIn the upcoming year, FASB has two matches ahead where it must defend its title. The first match is with AICPA over who should set standards for private sector accounting. FASB will also go up against IASB to keep its title as the premier standard setting authority for the United States, and for the most part, the world.http://www.afponline.org/mbr/res/mbr_news/Which_Standard_Setter_will_be_Crowned_the_Winner_in_2012_.htmlThu, 22 Dec 2011 00:00:00 -0400http://www.afponline.org/mbr/res/mbr_news/Which_Standard_Setter_will_be_Crowned_the_Winner_in_2012_.htmlThe IRS recently met with the U.S. Ambassador to Canada and Canadian officials to address their concerns about harsh penalties for failure to file timely reports regarding foreign bank account reporting (FBAR) requirements. As a result, the IRS issued a fact sheet that clarifies when a person would be subject to the penalties. The fact sheet provides examples for what the IRS considers “reasonable cause.” http://www.afponline.org/pub/res/news/IRS_Issues_Guidance_for_Canadian_Expats_and_FBAR_Noncompliers.htmlMon, 19 Dec 2011 00:00:00 -0400http://www.afponline.org/pub/res/news/IRS_Issues_Guidance_for_Canadian_Expats_and_FBAR_Noncompliers.htmlBOSTON -- When is a dividend not a dividend? When a foreign country decides it is actually an intercompany loan. “One country might say it’s an intercompany loan, but the other country might say it’s a dividend, so make sure you have the proper documentation to show it’s really a dividend,” said Brenda Szymanowski, CTP, Corporate Treasurer, AstenJohnson, speaking at a cash repatriation session Monday at the AFP 2011 Annual Conference.   http://www.afponline.org/pub/res/news/Cash_Repatriation_Takes_Center_Stage_at_AFP_Annual_Conference.htmlMon, 07 Nov 2011 00:00:00 -0400http://www.afponline.org/pub/res/news/Cash_Repatriation_Takes_Center_Stage_at_AFP_Annual_Conference.htmlProfessionals who sign foreign bank accounts for their employers, but who have no personal interest in the accounts, might face personal tax reporting burdens. http://www.afponline.org/pub/res/news/AFP_Urges_U_S__Treasury_to_Reconsider_FBAR_Rules.htmlTue, 13 Sep 2011 00:00:00 -0400http://www.afponline.org/pub/res/news/AFP_Urges_U_S__Treasury_to_Reconsider_FBAR_Rules.htmlIn this week's issue: highlights from the recent FASB meeting; IASB publishes an effect analysis for IFRS 10, 11 and 12; the FDIC launches its Investor Match Program, and more.http://www.afponline.org/pub/res/news/Governance,_Accounting_and_Compliance_Weekly__September_12,_2011.htmlMon, 12 Sep 2011 00:00:00 -0400http://www.afponline.org/pub/res/news/Governance,_Accounting_and_Compliance_Weekly__September_12,_2011.htmlSassan Parandeh, CTP, treasurer of ChildFund International, lists the most important components of an effective corporate investment policy.http://www.afponline.org/mbr/res/mbr_news/SIDEBAR__10_Components_of_a_Corporate_Investment_Policy.htmlMon, 29 Aug 2011 00:00:00 -0400http://www.afponline.org/mbr/res/mbr_news/SIDEBAR__10_Components_of_a_Corporate_Investment_Policy.htmlIt is very hard to justify high non-earning cash balances to stakeholders who rightfully expect funds to be invested in productive ventures with healthy returns.http://www.afponline.org/mbr/res/mbr_news/Corporate_Investments_2_0_-_New_Realities_Demand_New_Governance_Policies.htmlMon, 29 Aug 2011 00:00:00 -0400http://www.afponline.org/mbr/res/mbr_news/Corporate_Investments_2_0_-_New_Realities_Demand_New_Governance_Policies.htmlBanking executives discuss the impact of global regulations on corporate treasury at the AFP Global Corporate Treasurers Forum in Chicago.  http://www.afponline.org/mbr/res/mbr_news/From_Basel_III_to_Bribery,_New_Regulations_Will_Impact_Corporate_Treasurers.htmlMon, 29 Aug 2011 00:00:00 -0400http://www.afponline.org/mbr/res/mbr_news/From_Basel_III_to_Bribery,_New_Regulations_Will_Impact_Corporate_Treasurers.htmlGood news for corporate treasury professionals still unsure if they should take advantage of the offshore voluntary disclosure initiative’s for unreported foreign bank accounts’ August 31 deadline: Due to the impact of Hurricane Irene, the IRS announced that it has extended the deadline until September 9. http://www.afponline.org/pub/res/news/IRS_Grants_FBAR_Extension_in_Wake_of_Hurricane_Irene.htmlMon, 29 Aug 2011 00:00:00 -0400http://www.afponline.org/pub/res/news/IRS_Grants_FBAR_Extension_in_Wake_of_Hurricane_Irene.htmlDespite the advance warning, FBAR created several myths that need to be dispelled before the rules can be followed.http://www.afponline.org/mbr/res/mbr_news/Foreign_Transactions__Six_Myths_Surrounding_FBAR.htmlThu, 25 Aug 2011 00:00:00 -0400http://www.afponline.org/mbr/res/mbr_news/Foreign_Transactions__Six_Myths_Surrounding_FBAR.htmlOn the one-year anniversary of the passage of Dodd-Frank, regulators are scrambling and the public, including AFP, weighs in.  http://www.afponline.org/pub/res/news/Happy_Birthday__The_Dodd-Frank_Act_Turns_One.htmlWed, 24 Aug 2011 00:00:00 -0400http://www.afponline.org/pub/res/news/Happy_Birthday__The_Dodd-Frank_Act_Turns_One.htmlThe CFO plays an important role in any sale transaction and should be ready to assist the board and the management team with understanding their responsibilities. A partner with Foley & Lardner LLP explains.http://www.afponline.org/mbr/res/mbr_news/How_CFOs_Can_Help_Boards_Reach_Acquisition_Decisions.htmlWed, 24 Aug 2011 00:00:00 -0400http://www.afponline.org/mbr/res/mbr_news/How_CFOs_Can_Help_Boards_Reach_Acquisition_Decisions.htmlIFAC recently released an updated version of its Guide to Quality Control for Small- and Medium-Sized Practices (QC Guide) and a white paper titled, Competent and Versatile: How Professional Accountants in Business Drive Sustainable Organizational Success.http://www.afponline.org/pub/res/news/IFAC_Issues_New_Documents_on_Quality_Control,_Sustainable_Success.htmlMon, 22 Aug 2011 00:00:00 -0400http://www.afponline.org/pub/res/news/IFAC_Issues_New_Documents_on_Quality_Control,_Sustainable_Success.html