AUGUST 2014
VOLUME 315
SUMMARY PAGE
1. CEO Insight: Leadership,
Growth and the CFO
Field of Study: Management
Advisory Services
2. Taxing Times: From IRS
Scandal Allegations to
Corporate Reform
Field of Study: Taxes
3. FASB’s Simplification and
Disclosure Framework
Initiatives
Field of Study: Accounting
4. Bad Behavior by
Top Management
Field of Study: Behavioral
Ethics
FMN is a product of
Scott Wine became the CEO of Polaris Industries at the start of
the Great Recession in 2008. In his Keystone Address to the
Financial Executives International’s 2014 Summit Leadership
Conference, Mr. Wine describes the strategy he used to help
him turn his company around as well as the leadership maxims
he subscribes to. One of the leadership principles he followed
was to develop a close working relationship with his CFO, a
relationship he believes is critical to the growth of a company
in today’s competitive environment.
Now, more than ever, the focus in the tax arena is on
corporations. From increased Congressional scrutiny of the
tax strategies of global companies to alleged scandal at the
IRS to debate on corporate tax reform, business tax issues
are receiving a great deal of attention. In this segment,
Robert Wood, Managing Partner of the law firm Wood LLP
and author of over thirty tax books, provides an informed
update on these and other developments currently impacting
corporate taxation.
The number one priority identified in the FASB’s annual survey
of their Financial Accounting Standards Advisory Committee
was dealing with the complexity of financial accounting
standards. In response, the FASB added a “simplification” project
to its agenda. Here, Colleen Cunningham, Vice President and
Controller with Zoetis, and John Fleming, Executive Vice
President of SmartPros, discuss this new initiative as well as the
FASB’s disclosure framework initiative and explain the effect
these projects will have on financial reporting in the future.
When top management behaves badly, it can weaken morale,
destroy confidence and lead to fear of job loss. In such an
environment, not only is the company’s overall financial
performance likely to suffer, but the door is open to unethical
and fraudulent behavior. In this final segment, Dr. Eric Kreuter,
Partner at Marks Paneth LLP, defines “bad” behavior by top
management, explores its damaging impact and indicates
the steps your company should take to ensure a positive
working environment.
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