EXECUTIVES: WORSE TO COMEMountain View, Calif. - Seventy-five percent of financial executives in North America say that economic conditions in their industry are worse or far worse than they were six months ago, and nearly a third expect conditions to get even worse, according to a recent poll from online forecasting applications provider Adaptive Planning and Business Performance Management. Compounding that malaise, over half of those polled admitted to missing their revenue targets for their most recent quarter.
The online poll surveyed financial professionals from 17 different industries, in companies ranging in size from under $10 million to over $1 billion in annual revenues.
Other key findings include:
* Forty-seven percent expect revenues to decrease further over the next six months;
* Forty-four percent plan to decrease capital spending and 43 percent will reduce headcount;
* Nearly 50 percent expect margin erosion;
* Only 33 percent expressed confidence in hitting their plans in the next year; and,
* Eighty-six percent had replanned or reforecast their last quarter, with nearly half doing so two or more times.
For more information, visit http://marketing.adaptiveplanning.com/forms/ppindex.
PROTIVITI UPDATES CRISIS INFO
Menlo Park, Calif. - Business consulting and internal audit firm Protiviti has updated its Global Financial Crisis Bulletin with answers to the latest questions about the financial meltdown.
The firm, a subsidiary of recruiter Robert Half International, offers explanations of the causes of the meltdown in the financial services industry, how other regions of the world are being affected, recent actions by the U.S. government to stem the crisis, and what additional steps may be taken.
The report also discusses how International Financial Reporting Standards could have an impact on the situation and how they differ from U.S. generally accepted accounting principles in determining the impairment of assets.
For more information, visit www.protiviti.com/economiccrisis.
RENO FIRM LAUNCHES SMALL BIZ GROWTH PROJECT
Reno, Nev. - Rand & Associates, a CPA and business advisory firm based here, has launched a new program designed to help small businesses grow during the current economic crisis. The Small Business Growth Program offers three options for business owners to assess their business, develop tangible action items and execute a growth plan. One-one-one counseling in areas such as profitability, cash flow, marketing and key performance indicators is provided to the owner.
For more information, call (775) 323-4440.
GT ISSUES IPO WHITEPAPER
Chicago - National CPA and business advisory firm Grant Thornton has released a white paper, Why Are IPOs in the ICU?, which explores how technological, legislative and regulatory changes have undermined the IPO market, in addition to the credit crisis. To obtain a copy, visit www.grantthornton.com.
