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Kevin Stewart from Crowe joins Boyd & Al as they delve into the challenges faced by accounting teams amidst tariff uncertainties. Discover insights on risk management, financial reporting, and strategic planning to safeguard your business.

#Tariffs, #Accounting, #RiskManagement, #FinancialReporting, #StrategicPlanning

Takeaways:

1. Stick to your process and playbook amidst uncertainty.
2. Understand the impact of tariffs on suppliers and customers.
3. Evaluate contract terms and their implications on pricing.
4. Develop a plan of action to manage financial risks.
5. Consider the variability in pricing and its effect on revenue.
6. Build strong relationships with suppliers and customers.
7. Use scenario planning to anticipate potential challenges.
8. Collaborate with legal and finance teams for informed decision-making.
9. Define a playbook for consistent and disciplined decision-making.
10. Engage in open communication with stakeholders.

Chapters:

• [00:00] Introduction and Overview
• [01:00] Challenges in Accounting Amidst Tariff Uncertainty
• [05:00] Impact on Suppliers and Customers
• [10:00] Strategies for Risk Management
• [15:00] Importance of Contracts and Pricing
• [20:00] Scenario Planning and Forecasting
• [25:00] Building Strong Relationships
• [30:00] Conclusion and Special Offer

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