Everyone in business seems to be having extreme difficulty in accurately forecasting in today’s economic turmoil. A recent issue of INC. magazine featured an article titled “Forecasting in a Crazy, Mixed-up World” (April 2009, pp. 19-20).

Readers answered the question, “What is the hardest part of owning a business right now?” The number one response was “It’s impossible to forecast accurately.” Unfortunately, this is true for owners and senior managers no matter what the size of their organization.

It is particularly true for those of you who are preparing for the annual budgeting ritual. At most companies, Financial Planning and Analysis managers are busy developing their upcoming planning points and guidelines. more

As our world continues to evolve, many publishers and editors have asked me to contribute a regular blog to the ongoing information cycle. Up until now I have resisted. I have worried about (1) the amount of time it takes; (2) the demand to regularly post; and (3) whether I can respond to comments in a timely manner given my extensive travel schedule.

But mostly I have wondered if I would have relevant things to say. My staff has assured me that I have more than enough opinions, and my wife and kids agree. And when it comes to finance transformation, I have several points of view on what we need to STOP doing and what we should START doing instead. more

In a new interview with me, Michael Kramer talked about his stint as CFO of clothing manufacturer Walls Industries, Inc., where he tackled the problems caused by an incentive system based on EBITDA. Here’s more on the theme of siloed compensation metrics. more