As you become more proficient in Excel, you will that a very common task is looking up values in tables. For example, you may have a table of part numbers and unit prices. A simple lookup function, such as VLOOKUP or HLOOKUP can return the unit price for a specific part number. These functions are well documented in the on-line help files, and won't be discussed here.
Checklist for Conducting a Perfect Meeting
1 What are my goals for this meeting?
Are you looking to inform, elicit ideas, or make decisions? Eachrequires a different preparatory strategy. Think through-even write down in a sentence or two-what your ideal outcome would be.
2 Should I call this meeting at all?
Many meetings cause more problems than they solve and waste everyone’s time. Participants who feel nothing has been achieved may be resentful or uncooperative. Often issues or decisions addressed inmeetings could be better solved by personal contact or executive fiat. Even standard, regularly scheduled meetings can be canceled if the manager decides the participants’ time would be better spent elsewhere.
3 Have I provided everyone with a clear agenda in advance?
A shared agenda not only encourages preparation, it also allows you to determine what order of discussion is most likely to help you achieve your goals. Sometimes it’s wise to put the most difficult issues first, especially if they need a thorough airing. Other times, your best course may be to put the tough ones at the end, after people have spoken their piece and are ready to end the meeting.
4 Have I sounded out the key participants ahead of time?
Generally, key players don’t like surprises. If they feel bulldozed or cornered, they’re likely to be uncooperative. One-on-one conversations ahead of time may cause you to rethink your agenda or help you build support for your proposals.
5 Have I provided the participants with enough advance information to make informed decisions?
Much meeting time can be wasted bringing people up-to-speed. When everyone operates from the same body of information, you’re more likely to achieve consensus and to make actionable decisions.
6 Have I anticipated likely objections?
Don’t get ambushed in a meeting on important point you hadn’t thought of. Often, polling participants ahead of time can help avoid this problem. If you know some meeting members will likely oppose your goals or proposals no matter what, be prepared to show you understand their objections and have thought through why, on balance, your course of action is superior to reasonable alternatives.
7 Have I built support on high?
In advance of any meeting, make sure your superiors support the general line of action you intend to take.
1 Summarize the purposes of the meeting off-the-top.
A crisp summary will minimize digressions and the introduction of unexpected or irrelevant material. It will also authorize you to keep the meeting on-track.
2 Let everyone have their say.
Even in meetings where participants are of significantly different status within the organization, show you value the opinions of each. Invite people who haven’t spoken to contribute in their areas of expertise. You’re more likely to get everyone invested in the meeting’s result.
3 Don’t allow anyone to dominate the meeting by giving long or irrelevant speeches.
Recognize when someone is riding a hobbyhorse or pushing a personal agenda. Be willing to redirect the discussion to the main point tactfully, but with as much firmness as necessary. The other participants will be grateful.
4 Be prepared to learn.
No matter how carefully you’ve prepared a meeting, new information may pop up that should change your course of action. You’ll gain respect and authority by demonstrating you’re not tied to a script.
5 Gain closure on each issue as soon as you sense an emerging consensus.
No one wants to spend more time in a meeting than absolutely necessary, and most participants will be grateful to a leader who makes a decision and moves on.
6 End each meeting with a summary of what the group has gained from it.
Summarization may mean saying: "We’ve decided A, B, and C, but we need to give further consideration to X, Y, and Z." This way, participants will have some sense of achievement and know what’s expected of them. You will also have set a productive agenda for the next meeting. When possible, end the meeting earlier, rather than later, than expected. Few meetings achieve much after the first two hours, at the maximum.
1 Follow up quickly with minutes.
Their arrival will remind participants what they’ve agreed to do.
2 Meet with meeting members who didn’t get heard or who felt unsatisfied with the results.
Not only will such conversations provide you with feedback, they will also help you prevent smoke from becoming fire or soothe the egos of those whose support you may need in the long run.
3 Send participants a memo on next steps.
A marching document will reinforce everyone’s sense that something has been accomplished and provide a road map for future action. It may also reassure any dissatisfied members that their issues have been heard and will be addressed in the future.
4 Provide any resources you’ve promised.
Participants will be frustrated if they’ve been assigned a task but aren’t given the means to accomplish it. If it proves impossible to deliver the resources, explain why.
5 Act as quickly as possible on any decisions that have been made at the meeting.
This provides key evidence on the effectiveness of any executive. In the end, people are judged much more by what they do than by what they say.
Tags: work, published, management
December 18, 2016 at 05:01PM
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Article: Spreadsheets have ruled Earth for too long���business must embrace the cloud
Digitising Business --
Spreadsheets have ruled Earth for too long—business must embrace the cloud
Cloud-based business management software (CRM, ERP) can revolutionise an SME.
Adam Banks (UK) - 11/3/2016, 3:30 PM
The one certainty in business software and services is that there will always be more acronyms. At the moment, though, there's more to the sector than just another jargon explosion: we're moving towards a new way of looking at IT, one that applies best-practice business processes to any company—however small it may be, and however fast it may grow.
This sounds good, but wading through websites full of perky lists of generic benefits can leave many IT managers still wondering exactly what they’re being sold.
For this feature we spoke to a bunch of major vendors—SAP, Sage, Microsoft, and IBM—about the new breed of business services they offer. We'll look at benefits of buying IT as a service, what working in the cloud really means, and how to move towards fully integrated business management, now more commonly known as enterprise resource planning, or ERP. We will mostly focus on SMEs (small and medium sized enterprises or businesses), but much of what’s discussed here is also easily applicable to larger organisations that haven’t yet moved to modern business software.
The decisions you need to make before choosing a solution will depend considerably on the nature of your business, but a good starting point is to compare the basic IT functions with which most of us are familiar to the new approaches on offer.
If PowerPoint is the universal language businesses use to talk to one another, their internal monologue is Excel. There’s nothing you can’t shovel into Microsoft’s core app, which millions of organisations use as everything from an accounts package to a stock database. However, it has its dark side.
Writing for Forbes in 2013, analyst Tim Worstall concluded that “Excel might be the most dangerous software on the planet.” The problem, he wrote, is that data has “become so complex and it’s handled in such a slapdash manner that no one is really on top of it any more.”
Even in the highly technical environment of investment banking, executives were found to be operating “through a series of Excel spreadsheets which had to be completed manually, by copying and pasting data from one to another,” a clear recipe for error and disaster. Bad news for international finance, but equally undesirable for a design agency or a flower shop.
There’s a better way, neatly expressed by a computer science term—“single version of truth," sometimes also known as a single point or source of truth. This means keeping data in one place, updated in real time, so that no matter where in the system it’s accessed from, users will get the same answer.
That’s not possible with the kind of ad-hoc IT that most small businesses rely on. We heard the same story again and again from people who work with SMEs—spreadsheets aren’t enough. Even if nothing goes wrong, information gets “siloed,” entered in one context but unavailable in others. Time is wasted duplicating effort, and opportunities are missed because data just sits there instead of actively contributing to decision-making.
It’s one thing knowing that bigger rivals with deeper pockets are doing things better than you, but how can you compete? Well, you may well now be able to acquire some software that's cleverer than Excel, almost off the shelf, and migrate your systems to it faster than you think.
The key to this new generation of digital business management is in that newfangled suffix “as a service.” Software as a service (SaaS), infrastructure as a service (IaaS), and platform as a service (PaaS) are interlocking buzzwords which inform IT not as a costly, complex arm of an organisation, but as an almost ready-made package with a monthly or annual fee. And thanks to the cloud, it needn’t even involve any server hardware or maintenance on the premises.
Office in the cloud
Moving beyond siloed spreadsheets and documents, the first obvious port of call is one of the online office productivity suites. These can begin to address major roadblocks for SMEs, such as real-time collaboration and device independence.
As Alex Faupel, Microsoft UK’s SMB customer lead, tells Ars: “Any small business is time-poor, with individuals trying to do multiple jobs. They need to collaborate and communicate.” That means changing the way users access software and files, a simple idea with big consequences.
Rather than having everyone sitting at a work PC running its own word processor, passing documents back and forth when required, or accessing them from a server, the new model keeps documents in the cloud, accessible in real time to multiple users at once from anywhere.
Most big office productivity suites now have Web app versions, backed by copious quantities of cloud storage and other useful vendor-provided features, and are sold as an ongoing subscription. So your users can jump onto any device with a browser, whether (with some security caveats) it’s the company’s hardware or their own. Corporates struggled with this for years; now it’s a basic feature.
Once you take it for granted that everything is available everywhere—with granular control, of course, over who can see what—it’s natural to start thinking about how you can use your organisation’s data in completely new ways.
November 04, 2016 at 12:18AM
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Alguna vez se ha parado a pensar cuanto le cobra su entidad financiera por la financiacion? Seguro que practicamente cada dia.., es la base de su negociacion: saber cuanto le cobra de interes cada uno de sus proveedores financieros para poder intentar reducir esos costes en la renovacion de terminos del proximo contrato.. y seguro que cuando es capaz de reducir 0.5% se siente orgulloso! No es para menos, ha conseguido reducir una cifra que de por si es bastante baja en el mercado actual.. y sin embargo ....se ha parado a pensar cuanto le cobra su proveedor por su financiacion? nada? es financiacion gratis! ... esta seguro?
Primero un poquito de matematicas financieras: horror! matematicas y financieras en la misma frase suena terrible, asi que iremos poco a poco. Seguro que le suena ese anuncio de un banco Y que le ofrece un 3% TAE for un deposito a 4 meses. El 3 % TAE significa que es la tasa anual de ese deposito si el mismo fuera a un año. Pero no lo es! Eso significa que cuando ud deposita 100 euros, no espere cobrar 3.... porque cobrara apenas 1 euro (estoy simplificando mucho a efectos de comprension) . Si repite la operacion de nuevo, y de nuevo, al cabo de 12 meses habra obtenido esos 3 euros que esperaba... pero ha tenido que repetir la operacion 3 veces. Es decir, el interes obtenido por su deposito a 4 meses era apenas del 1%. OK? Bien.
Ahora, veamos con detalle la relación con sus proveedores (y de la misma forma piensen que podrian analizar su relacion con sus clientes). Despues de mucho tiempo de comprar en condiciones de contado y a fuerza de negociar e insistir y de conseguir un cierto grado de confianza mutua, ha obtenido credito de su proveedor: le permite pagar a plazo, primero 30 dias y algun tiempo mas tarde a 45 dias desde fecha factura.... Enhorabuena! Financiacion gratis!
Al poco tiempo, ese proveedor le indica que como prueba de la buena relacion comercial le ofrece un descuento por pronto pago del 5%... ! vaya!! mejor que mejor, piensa: Me puedo financiar con aquella entidad financiera que me llamo el otro dia y me ofrecia una linea de credito al 3% (...y me obligaba a alguna cosita mas, como un seguro y un leasing para la maquinaria nueva... ) y con ello pagar al proveedor al descuento y ganarme un 2% .. perfecto! .......
Recapitulemos. Su proveedor le ha ofrecido un 5% de descuento sobre el precio de compra por ese adelanto... Un 3% por esos 45 dias.... Neto..... Es decir, si pensamos a la inversa, si le ofrece esa posibilidad es por que "de facto" lo que esta ocurriendo es que el proveedor le esta ofreciendo financiacion por esos 45 dias, lo que pensaba que era "gratis" cuesta un 3% !..... por 45 dias!..... aproximadamente un 24% de interes nominal anual!
Vale, cierto, he hecho trampa. Normalmente los proveedores no ofrecen esos terminos de pronto pago, ni lo hacen con todos los clientes ni siquiera lo hacen con todas las ventas a credito pero la imagen ha quedado clara, verdad?
Si es capaz de negociar con sus proveedores un cierto volumen de credito comercial, y luego obtener un descuento por pronto pago, el importe obtenido de su entidad financiera pagara con creces el diferencial.
Ahora, piense en su relacion con sus clientes... y reconsidere su politica de credito hacia ellos... , especialmente aquellos con mas probabilidades de retrasos el dia del cobro. Se ahorrara dinero y mas de un susto!
October 08, 2016 at 09:37PM
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While I was working in General Electric as credit manager, some friends used to call me Dr. No.
Nothing to do with the infamous villain from Bond movies, but they said (and was not far from reality) that my only work was to say No from time to time to the credit operations that showed up in my table.
Risk Assesment & CAMPARI
Summer time..., moment to relax, enjoying the views from a sunny terrace and sipping a refreshing drink... yes, is time for C.A.M.P.A.R.I. These letters summarize what you have to remember next time you are lending to somebody, anybody...
Who are you lending to? What is their history? Are they good at what they do? Are there areas of weakness? By asking detailed questions of the borrower one can establish if they are of good character. Bad character traits would be a poor credit history, no experience in the sector in which they are operating, not being qualified for the job they are doing, and so on.
Can the borrower afford to repay or refinance the loan over the period they are asking to borrow for? For this one can look at bank accounts, the business financial accounts, forecasts and projections. Questions such as “who produced the information?” are also valid, as a business plan written by a reputable firm of accountants carries more credence than one that isn’t. This also includes the ability of the owners and their capacity to run the business properly.
Margin / Means
First Margin. Very simply, how much interest income do you want to make? For lower risk, such as a 60% mortgage, the margins will be small as the risk is lower due to the level of equity in the property being funded. For higher risk, the margins are higher to compensate for the greater risk of loss. Secondly Means, or the proper resources and operations to run the business that can safely create enough returns to comfortably pay the interest.
What is the loan for and does this fit with the nature of the borrower? For example, a fish and chip shop wanting to borrow money to buy a new deep fryer would be an acceptable purpose. The same shop wanting to buy a knitting machine wouldn’t.
Size really does matter. The more money someone borrows, the higher the risk. The amount also has to be compared against the apparent value or wealth of the borrower. Banks are happy to lend several million pounds to large companies, as the borrowers have the assets to support the loan. The average man in the street won’t get a loan of this size because he hasn’t got the assets or the ability to repay.
How will your loan get repaid? Getting some of your capital back each month reduces your risk of loss. Full repayment over 3 years is less risky than full repayment over 25 years, as there is less time for things to go wrong and the borrower default. If the borrower does default, how do you get your money back?
Also known as security. If the borrower stops making repayments, what assets can be used to repay the loan in full? Each type of security has its own risks and these should be considered before making a loan.
Once you are back to work, remember the CAMPARI approach before taking your next credit decission..
July 04, 2016 at 11:39AM
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100 distress indicators
If you ever face a potencial customer that shows any or many of these bullet points.... watch out!
They are split by the key parameter that drives the indicator
Debt Activity Induced
1. Senior lender with debt exceeding 10% of total funded debt terminates customer’s facility
2. Any senior debt is classified from long term to short term in any given month on the customer financial statements
3. Bond interest payment in excess of 5% of YTD EBIT is missed by customer
4. Working capital lender ceases funding for customer
5. A default against any of the borrower’s financial obligations other than secured debt
6. A breach of any manufacturing contract in excess of 5% or YTD revenues
7. Any non-monetary default under a loan or lease obligation
8. Any monetary default under a customer loan or lease obligation
9. The customer restructures or refinances any of its other debt obligations at the request of its senior lender
10. Any customer with an unscheduled over advance under their revolving line of credit
11. Senior lender representing 10% or more of total funded debt has given the customer any request, whether verbal or in writing, to get refinanced within a one-year timeframe
12. Customer has changed primary senior lender one or more times in the last 24-months
Customer Management Induced
13. CEO immediate family member suffers material personal tragedy
14. Whole management team quits
15. CEO quits
16. CFO quits
17. Top salesman representing 10% or more of annual revenues quits
18. Death of any one member of senior management
19. Regular turnover in senior management
20. Protracted illness (90 days out of work) of key senior management
21. Any break up of partnership
22. Any transfer of ownership
23. New management team brought into the company
24. Company is acquired by national consolidator as stock purchase
25. Company pulls cash out of business to buyback investment of a stockholder
26. Credit report for PG shows judgments within the last 12-months
27. Customer retains any crisis management firm
28. Employee turnover exceeds 10% in the last 12-months
Operating Results Induced
29. A pre-tax financial statement loss in any one month for a customer
30. Charter service looses its 135 certificate
31. Any domestic subsidiary owned 50% or more files BK
32. Any international subsidiary owned 50% or more files BK
33. Failure to file any SEC required statements in a timely manner
34. Any debt forgiveness that exceeds 10% of funded debt thereby generating a taxable event
35. Customer engages and investment firm for sale of 50% or more of its business
36. 10% reduction in freight shipments over a 12 month period
37. A bankruptcy of one of the borrowers competitors
38. A 10% increase in the borrowers raw material costs
39. Any decline exceeding 1% in the borrowers gross margins for two consecutive years
40. Customer has had more than one NSF with GE in the last six-months
41. Any customer that fails to meet 100% of its payroll
42. Loss or bankruptcy of a borrower’s customers whose revenues comprised more that 5% of total revenue
43. The value of the collateral securing the debt has fallen by more than 15% in any given year
44. Work under a given contract representing 20% of company’s revenues comes up for renewal and the company looses the contract
45. Any customer that allows a lapse in insurance coverage on leased equipment
46. Company is involved in leveraged buyout, which results in a substantial negative impact on company’s liquidity and leverage ratios
47. Company purchases future contracts on raw materials in anticipation of increasing costs
48. Company looses market share in excess of 30% due to product reliability issues
49. Loss of major employer in a local market has ripple effect on other businesses serving businesses and consumers in that market
50. EBIT has declined by more than 20% versus the comparable YAG period
51. Customer’s production plant is damaged by fire, natural disaster, etc, decreasing the company’s production output by greater than 10%
52. Equipment financed to customer representing greater than 20% of customer’s product output is recalled by manufacturer
53. A/P days have increased (faster turn) by more than 10% from the previous year’s A/P turnover
54. Inventory days has slowed by more than 20% from the previous year’s inventory turnover
55. Cash burn exceeds 50% of total operating cash flow in any one month during the last six-months
56. Private-company customer pays a dividend to shareholders that exceeds 50% of net income
57. Any customer with multiple facilities and one of the facilities generates net losses exceeding 20% of total company earnings
58. Backlog has declined by more than 20% from the comparable YAG period
59. Insurance costs increased by more than 15% in the last 12-months
60. Any loss of bonding insurance
61. More than one change in accounting firm representation in the last 12-months
62. Company has been unable to negotiate new union contracts that are due within 90 days
63. Customer is publicly-traded and has been de-listed by one of the US stock exchanges within the last 3 months
64. Any credit-rating downgrade, whether by S&P, Fitch or other major rating agency, of more than two levels in the last 12-months
65. Any credit-rating agency downgrade to junk status within the last 12-months
66. Any customer with KMV rating that has declined to CCC+ or less within the last 12-months
67. Equity sponsor refused continued support
68. A strike is initiated by more than 10% of the company’s workforce
69. Customer has greater than 20% of its receivables aged 90-days +
70. Transportation company with more than 10% of their power units sitting idle
71. Transportation company with a 15% increase in brokered freight
72. Technological changes in equipment used effecting 20% of the cost of equipment
73. Technological changes in product manufactured effecting 20% of the cost of equipment
74. Customer increase in aviation fuel prices by 20% within any 60 day period
75. Customer increase in diesel fuel prices by 20% within any 60 day period
76. Customer increase in heating oil prices by 20% within any 60 day period
77. Customer increase in any natural gas prices by 10% in any 60 day period
Trade Vendor Induced
78. Loss of any key supplier representing more than 10% of annual raw material purchases
79. Utility bill remains unpaid for 60 days
80. Sewer and sanitation bill remains unpaid for 60 days
81. Adverse Administrative ruling entered against customer or one of their key suppliers or customers entered resulting in a 15% decline of TNW
Litigation/Judgment/Legal suit Induced
82. Any judgment in excess of 10% of aggregate current assets
83. Any casualty loss exceeding 10% of total assets
84. Any IRS levy event
85. Any IRS lien event
86. Notice of any lien or judgment being filed on the company as a result of a lawsuit against the company
87. Any working capital fraud is perpetrated by management or any operating division of the obligor representing 15% or more of annual revenue base
88. Any criminal indictment of a company officer
89. Adverse Legal judgment against one of their key suppliers or customers
90. Product liability filed against company or against supplier (10%) or purchaser (10%) or which results in cessation of production of product
91. Eminent Domain against customer or one of their key suppliers or customers entered
92. A judgment against the company in excess of 10% of its net worth
93. Unpaid payroll taxes, FICA and Fed Withholding
94. Customer relies on patents that will expire within the next 6-months and such products protected by patents constitute at least 10% of total revenue
95. Customer has been advised by bankruptcy counsel within the last six-months
96. Customer has hired a turnaround consultant within the last 12-months
97. Customer relies on patents that will expire within the next 6-months and such products protected by patents constitute at least 10% of net income
98. Any violation of patent, trademark, or copyright laws where such infringements would result in fines exceeding $100,000
99. Customer environmental damage/contamination with remediation costs exceeding 10% of aggregate current assets
100. Customer is identified as a PRP in any environmental claim
Tags: published, business, financial, risk
June 01, 2016 at 01:18PM
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Pensando fuera de la caja
Yes,we all know the typical game with the pen and the nine dots (http://ift.tt/1YEL4UC
) and yet, at first we all need to think back. "how was it again?" And because we all know we have to think out of the box, what we do is making the box bigger... , something similar to what Malcolm Gladwell said in the What the Dog Saw articles in The New Yorker: "If everyone had to think outside the box, maybe it was the box that needed fixing"
The reason I am talking about this is a story I read a while ago (I can´t trace it back so all my credits to his author) about a father of a little girl (let´s say 10 years old) that fails a math exam. The key is that the girl is a genius on that field so the father don´t believe she has failed so he goes to talk with the teachers. Sumarizing: the girl fails the exam because the answer to a question was not the expected one! The answer is right though!, but it is no the expected from a 10 years old girl.. and so she is "out of the box" and "penalised" . Curious about the question?
* What is the highest number you can make using three times a 2?
The obvious answer (10 years old) is 222. But it is not the correct answer... , you have to think out of the box! Understand the rules and make them work better!
That´s why I always ask "why are you doing this? " every time I go to a customer and revise the processes. The worst answer is "we aways did it in this way" ... it shows that people in that company are so into the box they can not even figure there is anything else out there! Any employee should know why is he/she working , why is doing that report in that way, why it is important to do it and do it right, what is the reason for the task is being assigned,... because then he/she can think answers that go beyond the request, can make a report that is easier to read or use a tool that avoid errors or... ..he/she wlll think out of the box of the job description and go into the "company rol" described by the holacracy methodology.. "Roles instead of job descriptions"
Then the company will move quicker and react more flexible to changes from outside of the box!
By the way.. have you think the answer to the exam? think again... and write in a paper 2 to the power of 22
March 31, 2016 at 06:31PM
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The dark side
The dark side
Lo reconozco, me he pasado al lado oscuro. Durante mucho tiempo cultive mis habilidades en la fuerza para intentar entrar en la élite pero al final el lado oscuro me ha conquistado...
No, no estoy hablando del despertar de la fuerza ni de la próxima película de star wars. Hablo de financiación.
Si en otros articulos hablaba de Unicornios, en este hablo de Dinosaurios... La banca tradicional es como un enorme dinosaurio que se va moviendo lentamente y casi por inercia desde hace mucho tiempo. Incluso las pequeñas entidades financieras de credito son como velociraptors incapaces de adaptarse a los nuevos tiempos y que pese a su velocidad acabaran transformandose o siendo devorados. Y a ello ayuda (y no para bien) la carga administrativa y regulatoria impuesta. Obviamente esa regulacion es necesaria porque el negocio financiero es un negocio de confianza, sin ella los clientes no depositarian su dinero en ninguna entidad (al fin y al cabo lo que hacen es prestar dinero al banco) a cambio de tan misero rendimiento como se ofrece actualmente.
El caso es que durante un tiempo yo fui parte de una de esos entes malditos: la banca. Como trabajador de una entidad financiera de credito asisti desde un palco privilegiado al cruce de opiniones sobre la crisis economica y financiera de los utlimos años: La Banca, ese sector maldito, que habia sido rescatado con el dinero de todos para disfrute de unos pocos....
No entraré aquí en si el rescate fue bueno o malo, en si la forma fue las mas idonea o en por qué unas entidades cayeron y otras fueron apoyadas. Si comentaré que no entiendo porque hay gente que se rasga las vestiduras con las ayudas o subvenciones a la banca y en cambio no lo hizo en su momento con con las ayudas al carbón o a los astilleros o a la agricultura... En todo momento ha habido sectores en peor situacion que otros y en muchos casos ha acabado necesitando ayudas puntuales para seguir adelante.
Ah, pero esto es diferente piensan algunos. Por que? Pura cuestion de imagen creo yo. Los banqueros van todos trajeados y se les asocia a la buena vida... Es verdad, pero podriamos decir lo mismo de los abogados o de los medicos o muchos otros del sector servicios, porque al fin y al cabo la banca es una empresa que como todas pretende ganar dinero ofreciendo un producto o servicio, igual que cualquier otro sector que ha recibido ayudas durante los últimos años, pero me estoy desviando de la historia.
Como iba diciendo, trabaje durante un tiempo en una entidad financiera, una empresa que estaba regulada por el banco de España y que por tanto debia enviar con regularidad una cantidad increible de informes muy detallados sobre todas y cada una de las transacciones, los clientes, los riesgos, las posiciones de garantia,... Era el lado luminoso: transparencia total, informacion minuciosa.... y un coste enorme para poder procesar todos esos datos y emitir los informes. Una enorme burocracia que ralentizaba o impedia la rapida adaptacion a los cambios en el mercado.... y por otro lado estaba el lado oscuro..
La banca en la sombra o sistema bancario en la sombra (en inglés, shadow banking system), es decir, el conjunto de entidades financieras, infraestructura y prácticas que sustentan operaciones financieras que ocurren fuera del alcance de las entidades de regulación nacionales. Incluye entidades como hedge funds, fondos del mercado de capitales y vehículos de inversión estructurados.
Los mercados de capitales y la banca en la sombra se han convertido en los nuevos canales de financiación para las empresas que no pueden acceder al crédito bancario tradicional. En el sector del shadow banking se incluyen entidades como las socimis en el mercado inmobiliario, los business angels, el crowdfunding, los fondos de capital riesgo, o incluso a los hedge funds.
Estas sociedades son en general mucho mas agiles, mas proactivas, mas adaptables, ....no estan tan reguladas y por ello podrian ser mas arriesgadas... o no... (todo depende de los responsables de las empresas y todos conocemos lo ocurrido en entidades reguladas..). Estas empresas arriesgan su capital o su reputacion o ambas en cada financiacion que hacen, y analizan cada caso con cuidado porque saben que no tienen colchon alguno en caso de equivocarse, y por ello desde mi punto de vista son mas de fiar pese al nombre. Al fin y al cabo si estan en la sombra es porque a buen arbol se han arrimado...
Tags: published, Accounting, financial
January 17, 2016 at 12:30PM
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Goals of Financial Analysis
(1) financial statements are representations by management;
(2) the public accountant has the responsibility for conducting his examination in accordance with accepted auditing standards; and
(3) the accountant (certified or otherwise) has the sole responsibility for writing his opinion stating, among other things, whether the financial statements are presented in accordance with accounting principles applied on a consistent basis.
Tags: published, Accounting, business, financial, management, lease, risk
October 26, 2015 at 11:13AM
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Licenciado en Empresariales soy por lo tanto un empresologo...y he trabajado como morosologo, analista,...