This episode features Oliver Rowe, the editor-in-chief of FM, detailing the contents of the June digital edition of the magazine.
Rowe highlights several articles, including one on the risks associated with generative AI.
One article explores common management reporting mistakes to avoid. Also in the issue are articles about successful enterprise resource planning implementations and on the shifts that are redefining how finance creates sustainable value.
Rowe explains how members can access the most recent edition of the online magazine as well as the issue library.
This link features Rowe speaking about the February edition, and this link has the conversation about the April edition.
What you’ll learn from this episode:
- Details of an article focused on the risks of generative AI.
- Highlights of an Excel article by Liam Bastick, FCMA, CGMA.
- Advice from author Rhymer Rigby on preparing to go on holiday.
- Options for accessing current and past digital editions.
Play the episode below or read the edited transcript:
— To comment on this episode or to suggest an idea for another episode, contact Neil Amato at Neil.Amato@aicpa-cima.com.
Neil Amato: Welcome back to the FM podcast. This is your host, Neil Amato. I’m joined again on the show by FM editor-in-chief Oliver Rowe. We are discussing the June digital edition in this episode. Oliver and I have discussed previous digital editions in 2024. We’re continuing that trend today.
Oliver, first, it’s hard to go anywhere these days and not hear talk about generative AI. It’s got a lot of potential, also a lot of risk, and that’s one of the articles I want to lead off with is, what are some of the highlights of that article about generative AI risk?
Oliver Rowe: Thanks, Neil, great to be back on the FM podcast. You’re absolutely right. We’ve got an article on generative AI risk. The article looks in quite some detail of the risks that are involved, and it provides a checklist for finance leaders as well, so a whole range of risks.
These include data security risks, operational risks, reputational risks, the legal and intellectual property risks as well, and, of course, financial risks. There’s a need to evaluate the ROI on AI projects regularly. There’s a competitive risk as well, so it’s important to stay informed about AI advancements in your industry to maintain that competitive edge.
Amato: That’s great. Definitely a timely topic. What are some of the other articles in the June edition?
Rowe: We’ve got a whole range of articles. “Common Management Reporting Mistakes to Avoid”: Eric Alexander, the author, points out that providing financial and increasingly nonfinancial information for decision-makers is one of the most important reasons for the finance team’s existence. It’s a very practical article. Eric points out that failing to provide information in a timely way can undermine the success of a business. But there are other things to avoid as well, such as ambiguity, an inappropriate level of precision, and not providing relevant contexts for decision-makers.
Another article is on how to create a successful ERP implementation — enterprise resource planning implementation.
The advice is about first deciding if you need an ERP system and then going on to select the right partner to implement it. And you need the active involvement of employees. The article also covers testing and training — when’s the right time to do that?
We’ve got another article in the June edition looking at the four shifts redefining how finance creates sustainable value, and it’s a trends type article, looking at the trends and the shifts that are occurring, and the competencies that are required for that.
Amato: Thank you for that. Now in Microsoft Excel, there’s apparently a button you can press called Forecast Sheet, and in the June edition, there’s also, I guess, an FM article about this button, right?
Rowe: That’s absolutely right, Neil. The article is “How Excel Builds on Basic Principles to Assist Forecasting”. Again, a practical article. It provides background initially. It uses basic principles to explain how to calculate an implied growth rate. It then goes on to focus on the, as you mentioned, the Forecast Sheet button in Excel that allows rapid forecasting, and that’s by Liam Bastick, who writes regularly for FM on Excel. It’s an interesting and, as I said, a very practical article.
Amato: Officially on the calendar as we record here in early June, summer is not quite here, but it’s definitely the time of year many people go on holiday. This edition has a timely article about how to make the most of your holiday from work. Tell me what that’s about.
Rowe: Exactly, Neil. The article is about preparing before you go away on that break. The advice is to create a task list. Divide these into things that must be finished before you go, tasks that can be delegated, [and] those that can wait until you return. The shortest of those is the things that will require your attention while you’re away. These should be as few as possible.
The article also recommends identifying a trusted peer who can help with tasks you can’t delegate to your team. Importantly, when on holiday, regulate your checking of messages and sign out of work-related social media. That’s the advice from Rhymer Rigby in this article.
Amato: Thank you for this, Oliver. One thing we haven’t talked about is reminding listeners how they can access the digital edition for June and, I guess, also previous editions.
Rowe: Thanks, Neil. You can access FM digital editions via the AICPA & CIMA website. That’s at aicpa-cima.com. You will need to log in with your AICPA & CIMA login, and from the main menu go to “Resources” and then “Publications”. And you’ll see Financial Management magazine. You can also go to the FM website, which is at fm-magazine.com, and in the menu go to “Digital Edition”. Finally, Neil, I’d just like to say, feedback on the June edition, as always with FM, is always welcome. That’s to fm-magazine@aicpa-cima.com.
Amato: That’s great. We look forward to having future discussions about future digital editions, and we appreciate this info about the June edition. Oliver, thanks very much.
Rowe: Thanks, Neil.
