The 'hidden secrets' of CFOs or controllers often revolve around the art of finance, not just the science. This includes understanding that numbers on a financial statement or report may not always represent the complete truth. They may need to interpret these numbers, considering various business factors and contexts. Another 'secret' could be their ability to foresee potential financial risks and opportunities that are not apparent to others. They may also have unique strategies for cost management, investment, and resource allocation.
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Financial statements do not always tell the entire story about a company. Accounting methods and financial reporting require an executive to decipher...
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Accounting and finance, like many other business disciplines, really are as much art as they are science. You might call this the CFO's or the controller's hidden secret, except that it isn't really a secret, it's a widely acknowledged truth that everyone in finance knows. And that is where the trouble begins for many executives and other business professionals who work in the finance sector. In other words, most people forget that nugget of intelligence, and make the mistake of believing that if a number shows up on a financial statement or in a financial report to management, it must be accurate and true.
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