One of my first big projects as a controller was working with the manufacturing and engineering teams to develop a formal capital expenditure approval process, with documented policies, procedures, evaluation spreadsheets, approval levels, construction-in-progress tracking – the works. This was back during the dawn of the Internet, so finding tools and templates was not as easy as today. We started from scratch and ended up with a good system, but easier access to tools and guidance would have been helpful.
Several years later, the task at hand was valuing stock options for a start-up company. The Internet was just a click away and lots of resources were available – almost too many. It was difficult to sort through the options and many of the sources of the information were not familiar.
These two experiences help illustrate why we devoted a section of CGMA.org to practical tools. Sometimes it helps to have a starting point for a new project and know that there has been a level of quality control that has gone into development of the resource.
Tools in the resource section cover a broad range of areas, including risk management, capital expenditure evaluation, career planning and performance management. We are working on new tools to be added to the portfolio over the coming months.
When looking for tools on CGMA.org, you should consider expanding your focus beyond the tools section of the site. You are part of a global CGMA community with access to experienced CGMAs. Is your company looking at expanding internationally? Are you wrestling with a complicated technical accounting issue? Would you be willing to share lessons learned from a recent system installation? I encourage you to reach out, start a discussion and ask the question.
Let us know what you think about the tools posted on the site. In addition, please share your suggestions for new tools.
Thank you so much for your feedback. Please keep it coming.