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What Manufacturing Chief Financial Officers Have to Say

On March 22 Thorugh April 5, 2010, Grant Thornton LLP Conducted a Survey Among Chief Financial Officers. 496 U.S. CFOs and Senior Comptrollers were Surveyed. Among this Large Group, 92 Officers were from Manufacturing Companies. See What These Manufacturing Chief Financial Officers Had to Say

04/21/2010

1 vote
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9. The best way to create jobs is:

Item Count Percent %
Cut corporate tax rate 34 40.00%
Cut personal income tax rates 26 30.59%
Tax credit for new hires 14 16.47%
Government stimulus programs 8 9.41%
R&D credits 3 3.53%

 

10. Is your company reducing average costs per employee in any of these employee benefit and compensation areas?

Item Decrease Same Increase Total
Salary raises 27.2%
25		 55.4%
51		 17.4%
16		 92
Bonuses 38.0%
35		 50.0%
46		 12.0%
11		 92
Stock options/equity based compensation 32.6%
28		 66.3%
57		 1.2%
1		 86
401 (k) match 22.8%
21		 73.9%
68		 3.3%
3		 92
Health care benefits 26.4%
24		 68.1%
62		 5.5%
5		 91
Life insurance benefits 7.7%
7		 90.1%
82		 2.2%
2		 91
Disability benefits 7.7%
7		 91.2%
83		 1.1%
1		 91
Average % 23.1% 70.7% 6.1% 635.0

 

11. About which type(s) of pricing pressure are you most concerned? (You may select more than one.)

Item Count     Percent %
Raw materials (e.g., food, metals) 62 70.45%
Employee benefits (e.g., health care, pensions) 49 55.68%
Energy 28 31.82%
Insurance 9 10.23%
Other 4 4.55%

 

12. Are you having difficulties accessing credit in general?

Item Count Percent %
No 71 80.68%
Yes 17 19.32%

 

13. Compared to this time last year are you more or less worried about your organization.

Item Count Percent %
Less Worried 49 55.68%
About the same 33 37.50%
More worried 6 6.82%

 

14. The FASB and IASB will be shortly releasing an exposure draft regarding revenue recognition. The objective is to clarify the principles for recognizing revenue and to create a joint revenue recognition standard for US GAAP and IFRSs that companies can apply consistently across various industries and transactions. Are you aware of this project?

Item Count Percent %
No 60 68.18%
Yes 28 31.82%

 

15. Do you believe financial statements are too complex to be useable by the average investor?

Item Count Percent %
No 52 60.47%
Yes 34 39.53%

 

16. Does your company currently provide nonfinancial measures (Key Performance Indicators) about your organization in its financial statements?

Item Count Percent %
No 42 50.60%
Yes 41 49.40%

 

17. Who do you view as the primary users of your financial statements?

Item Count Percent %
Current shareholders 28 33.73%
Creditors 16 19.28%
Management 13 15.66%
Current owners of equity interests 6 7.23%
Potential shareholders 5 6.02%
Regulatory agencies 5 6.02%
Research (sell side) analysts 5 6.02%
Rating agencies 3 3.61%
Other 1 1.20%
Potential owners of equity interests 1 1.20%

 

18. Does your firm prepare financial statements according to International Financial Reporting Standards (IFRS)?

Item Count Percent %
No 63 75.90%
Yes 20 24.10%
1 vote

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