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Yes, you can work faster: use two monitors

There is a simple solution to improve efficiency and I’m surprised how many haven’t tried it: using two monitors. This isn’t a new concept. The AICPA says it can boost efficiency by 50 percent, according to this article from accountingweb.com.

When I need to compare two documents or use information from one window to complete a task in another, I’m far more efficient if I use two monitors. I avoid repetitive toggling back and forth or minimizing and maximizing windows or printing. In addition to the green benefits of working with less paper, consider the time savings of fewer keystrokes and printing time, as well as ensuring you’ve picked up the correct number to paste into the new spreadsheet—I’ll bet you’ve often toggled back and forth several times to check.

Using two monitors, it’s easier to handle these kinds of tasks:

  • Prepare reconciliations. I have the general ledger application screen on one monitor, and can cut and paste quickly to a spreadsheet on the second. And I can compare a prior reconciliation to the current month, which is useful for complex reconciliations. (If you’ve ever prepared or reviewed a tax provision, you get what I’m talking about!)
  • Follow multistep directions. I can read a help screen or an email from the IT department to do something in an application open in the second monitor.
  • Keep an eye on email. I keep my email window open on one monitor to quickly scan incoming emails while I’m working in the other monitor.
  • It’s even possible to put worksheets from the same workbook onto different windows.

It took me only half a day to get comfortable using a second monitor and finding the physical arrangement that worked best. You can stack the monitors one above the other or put them side by side (my preference).

I have a second monitor that travels with me as needed to supplement my laptop. Now I no longer have to squint at small text trying to have more than one window open on my laptop screen. In fact, the larger monitors available today make it comfortable to view four windows at a time.

As more work is done in soft copy, using more complex applications, don’t be surprised if you find yourself wanting a third monitor!

 

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Academic accolades for debt finance guide

Well, OK, we haven’t earned an honorary Ph.D. (yet). But we were heartened to learn that a teacher at DePaul University was so impressed by Chris Kondo’s recent report, “Debt Is Good (Sometimes): How to Tell When Borrowing is a Smart Way to Grow,” that he’s going to share it with his treasury management students.

Kudos to Chris for developing a clear and insightful guide that will be useful in a way we wouldn’t have imagined. (We let the DePaul teacher know about Chris’s second piece too: “Debt Demystified,” which tackles how to evaluate debt financing terms and structures.)

 

 

 

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Sales of private shares presenting new challenges; SEC reviewing rules

Last month, SEC chairman Mary Shapiro told the House Oversight Committee that the commission is reviewing the rules and restrictions surrounding the sale of private company stock. Current restrictions include, among others, a limit of 500 shareholders and the prohibition of general solicitation.

The SEC’s increased scrutiny of private company stock sales is the result of the increased visibility of these transactions, as shares of  Facebook, Zynga, Twitter and other highly anticipated IPO candidates are in high demand and are being resold to other individuals or entities. New Internet-based platforms, such as SharesPost and Second Market, that connect buyers and sellers in these private transactions are also upping the ante. (There’s a good look at the issues in the New York Times’ Dealbook blog.)

Companies and boards are responding in different ways to this pressure. Some, for example, are placing additional restrictions on private stock transactions or implementing new governance and internal control policies.

Where this is heading and what actions the SEC might take are up in the air, though the SEC said it’s considering loosening some restrictions, eliminating certain disclosure requirements, restricting communications in IPOs, and other measures. All parties—sellers, buyers and regulators—have their own agendas and responsibilities. But it’s certain that oversight and administration of private company stock sales will be an increasingly common challenge for company management and finance teams.

However it plays out, if you’re a company with privately held shares, you’ll need to consider a number of strategic and administrative issues, including:

  • Exercising the right of first refusal and other considerations such as co-sale rights
  • Control and knowledge of the shareholder base
  • Implications on your 409A valuations and future stock option pricing
  • The need for trading windows around the transactions
  • Implementing an insider trading policy
  • Defining what information will be released to new purchasers
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