How Finance Departments Changed? or asked to change?

Not many eyes will be on finance departments unless it is month end to draw the cheque for the whole month work. It may be the case before a year ago! but the situation has changed now! The harvards and stanfords are blamed for recession…for creating a bubble…the theories of great business schools are being adviced to revise…aspiring MBAs are thinking to reconsider their choice…

The question now arise…what does the finance experts asked to do? cost cutting? by what mean? why did these organisations offered full control to CFOs before? did the markets and illusionary calculations shed their lids? What are CFOs doing now? do CEOs have real power and authority to make decisions?

There are bankruptcy filing…falsifying profits etc..stc..Arcelor Mittal have booked their first loss in this quarter….McKinsey poll states that CFOs are given wider responsibilities to cut costs and our immediate question will be whether it is short term or long term?

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