Fields of Action for the CFO
The corona pandemic will have dramatic effects on societies, economies and individual companies. But what direct and short-term fields of action must CFOs take into account in this crisis? Cost and liquidity management are of course the immediate focus of CFO activities. Further measures need to be introduced to have a medium-term effect.
The direct challenges include optimizing the cost structure, cash flow management taking into account private and public financing options, adjusting reporting cycles and developing revenue and cost scenarios.
The short-term fields of action include examining possible revaluations of assets and portfolios and the possible applicability of force majeure clauses, adjusting provisions, and readjusting risk management and the areas of responsibility of the legal departments.
You can find our detailed solution approaches here.