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Deloitte Digest for Controllers

This monthly update provides an easily digestible and regular stream of perspectives on the challenges that Controllers face today. To begin receiving the Digest, visit to register your email address and set up your profile

September 2014

Revenue recognition from an industry perspective 
Check out the Spotlight documents to learn how the final standard for revenue will likely impact your industry. Information is available for the following industries: Automotive; Consumer Products; Financial Services; Healthcare Providers; Investment Management; Life Sciences; Media & Entertainment; Power & Utilities; Process & Industrial Products; Retail & Distribution; Technology; and Telecommunications. Additional industries are in development.
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Compliance programs: What separates 'good enough' from "great"? 
This issue of CFO Insights looks at the building blocks of a world-class compliance program that not only protects an organization from internal and external threats, but also enhances its brand and strengthens its relationships with multiple stakeholders.
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Ten types of analytical innovation
This article outlines ten types of innovation that can be driven, supported, or measured with analytics. If you're not using analytics for all ten types, you may not be optimizing your analytical capabilities.
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Moving to the cloud? Engage internal audit upfront to manage risks
As organizations migrate to cloud computing, they could be putting their data at significant risk. Risks can include reduced levels of control as IT departments are bypassed by business owners creating their own “rogue” technology environments via the cloud. Positioning the internal audit function at the forefront of cloud implementation and including it in discussions with business units and IT can help address potential risks.
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August 2014

Global Economic Outlook, Q3 2014
In spite of a period of pronounced geopolitical risks, developed economies are experiencing modest growth, and growth in developing economies is stabilizing. The third-quarter edition offers insights about the United States, the Eurozone, China, Japan, India, Russia, Brazil, and the United Kingdom.
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CFO Insights: Making working capital work
Many companies have the opportunity to increase shareholder value by managing working capital in a more efficient manner, but are often held back by a number of internal challenges. With working capital optimization increasingly on boards’ radars, CFOs may want to address those internal challenges – to free cash that can be used to fuel growth.
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CFO Insights: Cybersecurity – Five essential truths
Cyber risks, it seems, are everywhere. Retailers breached. Intellectual property stolen. Data hacked almost on a daily basis. It’s enough to rattle even the most steadfast of CFOs – and often it does. Given the costs and the increasingly malicious nature of cyber attacks, CFOs are understandably focused on identifying potential cyber risks and planning their corporate responses. This publication discusses some basic “truths” about cybersecurity and offers guidelines for investing in an enterprise-wide cybersecurity plan.
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Supply chain leadership: Distinctive approaches to innovation, collaboration, and talent alignment
Some businesses are identified as supply chain followers, while others are distinguishing themselves as supply chain leaders. Which are you?
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July 2014

CFO Insights: What’s keeping CFOs up in 2014?
While the economic landscape may be tamer, the pressures on finance chiefs and their companies to perform continue to mount. Some, such as regulatory uncertainty, are ongoing, while others, such as data security, have quickly come to the fore. In this publication, we share a list of current concerns gleaned from our work with large company North American CFOs.
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M&A Trends Report 2014
In April 2014, Deloitte surveyed 2,500 executives from U.S. companies and private equity firms to gauge their expectations, experiences and plans for merger and acquisition (M&A) activity, which — over the past 18 months — has accelerated in the U.S. Access the report to learn more about the outlook for M&A and the factors that can help impact deal success.
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Analytics Trends 2014: And why some may not materialize
Conventional wisdom says companies are facing a large supply gap of data analytics talent, with significant shortages at all levels. Professionals who can deliver data-backed insights that create business value — not just number crunchers — are especially hard to find. Is the conventional wisdom correct, or are there other forces at play?
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Time, talent, and relationships
There are three fundamental resources that executives must manage during a transition: time, talent and relationships. Focusing on these three resources can help you cut through the inherent bustle of an executive transition and unlock your organization’s potential.
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June 2014

Heads Up: Boards issue guidance on revenue from contracts with customers
This publication discusses certain differences between the new standard and current U.S. generally accepted accounting principles, as well as providing a summary of the final standard’s: (1) key provisions, including the specific steps for recognizing revenue; (2) other provisions and impacts, including income tax implications; (3) disclosure requirements; and (4) effective date and transition.
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Financial statements: Framing your judgment calls
This article examines why companies might consider implementing a formal framework to support accounting and financial reporting judgments and discusses why they could benefit from a more disciplined approach.
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CFOs signal some optimism, but also caution looking ahead
While many large-company CFOs show some signs of optimism, they are less optimistic regarding the growth prospects of their organizations in 2014 than they have been at the start of each of the previous three years, according to Deloitte's most recent CFO Signals™ quarterly survey. Despite their tentativeness, most CFOs continue to indicate a bias toward growth over reducing costs and are still focused on pursuing opportunities rather than limiting risk.
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The power of business chemistry
As a leader, juggling diverse stakeholder personalities comes with the territory. Luckily, there are clues to deciphering personalities in business that can help you better relate to others. The “Business Chemistry” framework identifies behavior patterns that can be used to improve individual interactions and influence strategy. Understand different personality types and how you can leverage them to your advantage.
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May 2014

New COSO framework may mean renewed compliance effort
Much has changed in the business, regulatory and operating environment since the Committee of Sponsoring Organizations of the Treadway Commission (COSO) released its original Internal Control — Integrated Framework in 1992. COSO updated the framework in May 2013 and while the update retains the five initial components of internal control, it introduced 17 principles associated with those components, which provide additional guidance to help assess whether the principles are present and functioning. This article sheds light on the process involved in evaluating compliance with the 2013 COSO framework.
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Dual-class share structure: Weighing the risks and rewards
Initial public offerings (IPOs) have seen an up-tick over the past few months, especially for the Tech sector. With dual-class shares being of interest to company executives considering an IPO, this article outlines some of the benefits and disadvantages of this structure.
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More than just crowdfunding: Two years after the JOBS act
The Securities and Exchange Commission (SEC) continues to complete its rulemaking mandates under the Jumpstart Our Business Startups (JOBS) Act, whose primary objective is to "increase American job creation and economic growth by improving access to the public capital markets for emerging growth companies." This Heads Up focuses on guidance that the SEC staff has issued in response to the JOBS Act since May 8, 2012.
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Navigating the next wave of globalization
New consumers. New collaborations. New leadership. How will the next wave of globalization impact your organization?
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April 2014

Business trends 2014: Navigating the next wave of globalization
This report explores nine trends that are currently reshaping the business environment, driven by long-term, potentially irreversible, shifts in the global economy.
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Global human capital trends 2014: Engaging the 21st-century workforce
Organizations are seeing a new workforce that is younger, more demanding and more dynamic than ever. Research conducted by Deloitte Consulting LLP's Human Capital practice identified 12 critical trends that are helping drive the human capital agenda for the coming year.
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Heads up — Boards continue to redeliberate lease accounting
At their March meeting, the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) (collectively, the Boards) continued redeliberating their revised joint exposure draft on leases. Specifically, the Boards discussed the following items: lease classification by lessees; lease classification by lessors; the determination of lease term; a scope exception for short-term leases; and possible scope exceptions for small-ticket leases.
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Heads up: Highlights of the "SEC speaks in 2014" conference
In late February, the Practising Law Institute hosted its two-day "SEC Speaks in 2014" Conference. At the conference, SEC commissioners and staff members gave speeches on numerous topics of interest to finance professionals, including: disclosure efficiency; the SEC staff's observations about registrants' filings; cybersecurity; and audit committee considerations.
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March 2014

CFOs’ advice for building relationships with business leaders
As decisions around strategy become a larger part of your role, it has become increasingly important to forge strong relationships. This article from CFO Journal, published by The Wall Street Journal, discusses three broad strategic approaches to relationship building with business unit leaders and between finance and the business in general.
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SEC comment letters — Including industry insights
This publication includes extracts of frequently issued Securities and Exchange Commission (SEC) staff comments to registrants, additional analysis and links to resources that are relevant to SEC filers. Also included are industry-specific discussions for retail; travel, hospitality and leisure; energy and resources; financial services; health sciences; technology; and telecommunications. The appendices offer insights into current standard setting, the SEC staff’s review and comment letter process and more.
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Dynamic strategy implementation
Studies consistently show that many strategies fail in the implementation phase. The root of the problem may be traced to three factors: a failure of translation, a failure of adaptation and a failure to sustain change over the long term. A dynamic approach to implementation can help leaders sidestep insidious failures in execution that can doom even the most well-thought-out strategy.
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The 2013 COSO framework and the audit committee
This issue of the Audit Committee Brief highlights hot topics related to internal control over financial reporting in light of the issuance of the Committee of Sponsoring Organizations of the Treadway Commission’s (COSO’s) updated 2013 Internal Control — Integrated Framework. Also included are important considerations for audit committees in overseeing the implementation of the Framework and a discussion of how it can help audit committees manage elevated expectations regarding internal control.
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February 2014

The pros and cons of automating your external reporting
Listen to Deloitte & Touche LLP partner Andy Hickey speak about the pros and cons of automating your external reporting. Follow the link on the right side of this page to listen to a replay of a January 2014 podcast with
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Strategic uncertainty: Finance's voice in steering the conversation
Senior finance executives have an increasing voice in strategic decisions. By applying a strategic execution framework, you can provide a unique perspective and specific actions that contribute to better decisions and greater value creation. This article explores ways you can navigate uncertainty by partnering across the enterprise in six specific areas: mergers and acquisitions transactions, new product launch, pricing, new market entry, risk-adjusted forecasting and capital investments.
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Financial planning & analysis: What's risk got to do with it?
If you asked CFOs to list the major uncertainties they've grappled with over the past couple of years, you might get consensus on risks such as the economy, regulation, commodity pricing and consumer demand. But, you would probably get little agreement on how they've factored such risks into their financial forecasts and planning. This publication discusses what still needs to be fixed in the process and introduces an analytical framework – risk-adjusted forecasting – that seeks to tame the uncertainties in that process.
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Global economic outlook, Q1 2014
Several major emerging markets have quickly gone from an environment of optimism about future growth to one of uncertainty are emerging markets losing their brand appeal? This publication offers timely insights from Deloitte Research economists about China, the United States, the Eurozone, Japan, India, Russia, the United Kingdom and Brazil. In addition, this issue's special topics consider commodity price cycles and the brand appeal of emerging markets.
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January 2014

Balancing the risk-return equation
Financial forecasts and plans carry a lot of weight in the business world. But how much confidence do companies and CFOs really have in their forward-looking numbers especially in a business environment that is increasingly complex, uncertain and risky? This whitepaper outlines how you can use
risk-adjusted forecasting and planning to help protect and enhance value, boost confidence and manage risk.
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Highlights from the AICPA's 2013 conference on current SEC and PCAOB developments
This issue of the Audit Committee Brief highlights developments and insights from the December 2013 conference which featured insights from regulatory leaders at the Securities and Exchange Commission, Public Company Accounting Oversight Board and other agencies, as well as discussion panels on accounting, reporting and auditing issues.
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From strategy to execution: An outsourcing advisory services compendium
Whether you are looking to embark on an outsourcing journey, assess your current operations, bring operations back in house, or renegotiate, this compendium of articles provides updates based on recent developments in the world of outsourcing, insourcing and offshoring and offers insights on trends, approaches and specific challenges organizations may face as they embark on their respective journeys.
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Accounting roundup year in review 
This publication summarizes final guidance that affects reporting and disclosures for the coming reporting season. It covers new standards and exposure drafts in accounting, auditing developments, governmental accounting and auditing developments and regulatory and compliance developments. It also contains an appendix listing significant adoption dates and deadlines.
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As used in this document, "Deloitte" means Deloitte LLP [and its subsidiaries]. Please see for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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