Chapter 13.1, Problem 1.2CQ

Explanation of Solution

Management factors

• The main management factor is that Carter’s management wanted to transform the role of the finance function.
• It is transformed from preoccupation with transaction processing to focusing more on analyzing financial data and guiding decision making.
• The company needed process improvements in both the business’s management processes and technology.

Organization factors

• It includes streamlining and simplifying financial processes so the finance department had more time for analysis and reporting work.
• Carter’s launched a “Vision to Value” initiative to achieve this goal...