Banks and large financial firms are now moving to dump their short-term U.S. government debt, usually seen as one of the most secure investment vehicles. Even if debt payments are made on time in case of a default, finance executives expect the system to seize up if the government is late with other payments.
Leaders attempting to implement change in an organization are usually facing an uphill climb, according to McKinsey Quarterly, which found that only 38% of leaders who pushed such initiatives rated them as successful. Maya Townsend, founder of Partnering Resources, offers tips to even those odds. Among them: Encourage change at all levels of the business, invest in just-in-time training and harness positive peer pressure.
The Financial Accounting Standards Board and the International Accounting Standards Board are moving forward with their respective financial disclosure projects. FASB has created a Q&A fact sheet clarifying the facts about its framework project. IASB announced it has formed a new staff group to work on its own Disclosure Initiative.