According to an article from the CFO journal (please find the article "CFOs in 2021 Will Keep an Eye on These 10 Things" posted in the reading assignment), Chief financial officers last year raised billions of dollars to stabilize their companies' finances, cut costs and pivoted their businesses to respond to the coronavirus pandemic and the ensuing economic downturn. As executives look ahead, vaccines against Covid-19greenlighted by U.S. authorities in recent weeksare expected to boost growth in the second half of 2021, as Americans return to offices, shopping malls and gyms. This article explores 10 things that could be top of mind for CFOs in 2021. So, if you were the CFO of a global business, how would you prioritize the 10 things referenced in the article? Which of the 10 things referenced in the article are related to capital management? What bearing does the transition away from Libor have on a companies' borrowing arrangements? Why do you think ESG disclosures fall under the purview of the CFO? Please discuss.

CFOs in 2021 Will Keep an Eye on These 10 Things Economic recovery, corporate taxes and mergers and acquisitions are expected to be top of mind for many finance chiefs Executives will be monitoring the economic recovery, especially hard-hit areas such as bricks-and-mortar retail. PHOTO: MARK LENNIHAN/ASSOCIATED PRESS By Nina Trentmann Jan. 2, 2021 10:00 am ET PRINT TEXT Chief financial officers last year raised billions of dollars to stabilize their companies' finances, cut costs and pivoted their businesses to respond to the coronavirus pandemic and the ensuing economic downturn. As executives look ahead, vaccines against Covid-19greenlighted by U.S. authorities in recent weeksare expected to boost growth in the second half of 2021, as Americans return to offices, shopping malls and gyms. Here are 10 things that could be top of mind for CFOs in 2021. Economic Recovery Finance chiefs expect their companies' revenue to rise by an average of 6.9% in 2021, up from a 0.3% increase forecast for 2020, according to a recent survey by Duke University's Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta. Executives will be monitoring potential setbacks to the economic recovery, especially in industries hit hard by the pandemic, such as travel, hospitality and bricks-and-mortar retail. WSJ NEWSLETTER Notes on the News The news of the week in context, with Tyler Blint-Welsh. Enter your email SIGN UP Corporate Tax President-elect Joe Biden has proposed raising the corporate-tax rate to 28%, up from the current 21%, alongside other measures. The new administration can shape tax policy even without a majority in Congress, for example by providing additional guidance on existing rules through the Treasury Department, said Greg Engel, vice chair for tax at professional services firm KPMG LLP. NEWSLETTER SIGN-UP CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. PREVIEW SUBSCRIBE CFOs also will keep track of potential changes around taxation of global companies, as suggested by the Organization for Economic Cooperation and Development. Those plans could pick up pace in 2021. Regulation Finance executives are preparing for potential regulatory changes, including in areas such as accounting and audit. Mr. Biden is expected to nominate a new head for the Securities and Exchange Commission, who would work toward increased regulatory scrutiny of companies' financial reporting. New leadership at the SEC could influence the agenda at the Public Company Accounting Oversight Board to include elements such as mandatory audit-firm rotation or stricter rules for auditors. Trade Executives will be on the lookout for potential changes to the U.S.'s trade policies in relation to China, the European Union and other countries whose goods currently incur tariffs. Companies also will be dissecting the details of the new trade agreement between the U.K. and the EU, which was agreed in late December after years of negotiations. Cash and Capital Expenditures Finance chiefs ramped up their companies' liquidity in the early months of the coronavirus pandemic. Executives could reallocate some of these funds amid low interest rates, use them to pay for mergers and acquisitions, reduce debt or boost their pension plans. CFOs also are reviewing their spending plans for capital expenditures, especially in industries that have benefited from changing consumer tastes in recent months. Mergers and Acquisitions, Listings Companies with cash reserves are expected to scour the market for potential targets, said Robert Brown, chief executive of the North America business at Lincoln International, an investment bank. Private businesses also could take advantage of high stock valuations to plan an initial public offering, a direct listing or a transaction with a special-purpose acquisition vehicle. Remote Work A sizable number of U.S. employees are expected to work from home for a part of 2021 as the pandemic drags on, and seek flexible-work options in the future. Finance executives will be taking a closer look at their companies' real-estate footprint and assessing the pros and cons of moving offices. They will review potential investments to alter the layout of their offices and see whether increased levels of productivityan outcome of widespread work from home in 2020are here to stay. Dividends and Share Buybacks Many companies paused paying dividends or buying back shares at the onset of the pandemic. While some companies resumed those payments and programs in the second half of 2020, others have continued to hold back. In 2021, CFOs will be weighing dividend payments and share-repurchase programs against other uses of corporate cash. Timken Co. , a North Canton, Ohio-based maker of engineered bearings and power-transmission products, plans to hike its dividend if the business does well, said finance chief Philip Fracassa. The company also could consider repurchasing shares if it doesn't do mergers and acquisitions, Mr. Fracassa said. ESG Disclosures Finance chiefs likely will face more questions from shareholders about their businesses' performance in terms of environmental, social and governance issues, as investors pay more attention to these topics. Companies also could be required to disclose more information on carbon emissions, diversity and other social and sustainability metrics under the incoming Biden administration. Mr. Biden campaigned on requiring companies to provide more detail on environmental risks and greenhouse-gas emissions. Libor Transition Global regulators decided to phase out the London interbank offered ratean interest-rate benchmark underpinning trillions of dollars worth of financial instrumentsafter concluding it was prone to manipulation. U.S. banks and companies face a Dec. 31, 2021, deadline to replace Libor with alternative rates for new contracts, followed by another deadline in June 2023 for existing or so-called legacy contracts. MORE FROM CFO JOURNAL General Mills CFO Looks to Reduce External Manufacturing Once Demand Levels Off April 7, 2021 Corteva Names Finance Veteran to CFO Role April 6, 2021 XPO Names CFO for Logistics Unit Ahead of Planned Spinoff April 6, 2021 Kristin Broughton and Mark Maurer contributed to this article. Write to Nina Trentmann at Copyright 2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Appeared in the January 4, 2021, print edition as 'Recovery, Tax Changes Are On Finance Chiefs' Minds.'