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By Earl Landesman, CPA
Published by John Wiley & Sons, Inc.
348 Pages, $105.00

Reviewed by Alexander A.H. Bohtling, CPA, retired from Deloitte & Touche, LLP

The purpose of this book is to provide the CFO and financial leadership with a framework to maximize shareholder wealth, the new buzz words in the financial world. At the same time, this same group must comply in its financial presentations with GAAP, SEC regulations, external reporting, and tax regulations.

The author is chairman of Strategic Financial Partners, with more than 20 years of industry and consulting experience, including partnership in a Big Six accounting firm.

The book consists of four parts--corporate financial framework, transaction processes, management information, and financial business performance. In turn, the four parts include 19 chapters, namely--defining the 21st century finance function, implementation strategy and methodology, supply chain model for finance transaction environment, accounts payable and the procurement process, payroll, travel and expense reporting, financial revenue process--accounts receivable, billing and credit collections, financial accounting and management information, fixed asset accounting, tax planning and compliance, internal audit, financial planning and analysis, budget and forecasting, cost and profitability management, performance reporting and management, cash and working capital management; investor relations, corporate finance, and risk management.

For the most part, the chapters are subdivided into sections, such as benchmarking, reengineering, best practices, implementation, measuring performance, and budget process. There is also a section captioned shareholder wealth.

Taken as a whole, the book calls for a substantial amount of analysis of varying types, and appropriate advice is provided.

In you reviewer's opinion, useful evidence is provided for CFOs, which could be useful to independent CPAs reviewing compliance with GAAP. *

The CPA Journal is broadly recognized as an outstanding, technical-refereed publication aimed at public practitioners, management, educators, and other accounting professionals. It is edited by CPAs for CPAs. Our goal is to provide CPAs and other accounting professionals with the information and news to enable them to be successful accountants, managers, and executives in today's practice environments.

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