Financial Management (UK) articles from December 2005

Financial Management (UK) archives from December 2005

Impressive social events engage stakeholders and demonstrate customer focus and professionalism.(IN BUSINESS)(Chartered Institute of Management Accountants (CIMA))
December 1, 2005... CIMA is a success story. Chartered management accountants are leaders. We demonstrate our leadership in our approach to the profession and in our relationships with major stakeholders--most significantly, employers. We pride ourselves on...

Institute honours top performers.(Royal Dutch-Shell Group of Cos.)
December 1, 2005... An accounting department at Royal Dutch Shell has been named finance team of the year at the CIMA Financial Management Awards 2005. The 37-member team was commended at the annual gala dinner held at London's Waldorf Hilton hotel on December 1...

A merger between accountancy.(Institute of Chartered Accountants in England and Wales)(Brief article)
December 1, 2005... A merger between accountancy bodies is still possible in future, according to the Institute of Chartered Accountants in England and Wales (ICAEW). Recent consolidation moves were scuppered in October when the ICAEW's membership voted against...

Shareholders will gain the power.(new company law reform)(Brief article)
December 1, 2005... Shareholders will gain the power to agree to limit auditors' liabilities under the provisions of the new company law reform bill. But the bill also contains the hotly debated new offence of "recklessly or knowingly including misleading, false...

The International Accounting.(International Accounting Standards Committee Foundation published user guide)(Brief article)
December 1, 2005... The International Accounting Standards Committee Foundation has published a user guide to the standards on financial instruments issued by the International Accounting Standards Board. It covers IAS32, IAS39, IFRS7 and IFRIC Interpretation 2....

David Kappler: Chairman, Premier Foods and HMV Group.(Interview)
December 1, 2005... The last time we met, you were about to retire. Now you're chairman of two companies in the FTSE 250. Did you get bored? I wasn't so much retiring as diversifying. I was 57, I'd done nine years as CFO of Cadbury Schweppes and I needed some...

Level best? A multi-tiered taxation system is nothing but a drag on the economy, according to Merrill Cassell. He states the case for adopting a single flat rate, while Michael Goddard makes the counter-argument.
December 1, 2005... Many countries in eastern Europe have adopted a single rate of taxation with great success. Estonia went first, introducing a flat tax in 1994. Its current rate of 25 per cent will reduce to 20 per cent by 2007. The latest convert, Romania,...

Withdrawal symptoms: the UK has adopted an EC directive that imposes tough sanctions on companies marketing products in the European Union that fail to meet safety standards. Neil Hodge examines the new rules and considers the implications for manufacturers and distributors.(General Product Safety Regulations 2005)
December 1, 2005... It's every manufacturer's worst nightmare: the product that your company has spent millions of pounds developing, producing, marketing and shipping around the world may have a serious fault. There's a risk that some of the products--maybe a...

The future of finance: in the second of two articles, Stathis Gould and Martin Fahy examine the many challenges that an effective finance business partnering approach should address.(financial research )
December 1, 2005... Successful organisations are pursuing a three-legged approach to finance. They have moved routine transaction accounting and information processing to shared-service centres (or outsourcing providers) and have established centralised expert...

IAS 39: Subhash Abhayawansa and Dr Indra Abeysekera explain the complexities and challenges of the international accounting standard on financial instruments.(casestudy )
December 1, 2005... IAS 39 Financial Instruments: Recognition and Measurement revolutionised the way in which public listed companies present their financial instruments, such as derivatives and other contracts. Prior to IAS 39 and FAS 133, the literature covering...

Andre Khor, central pricing desk demand manager, Shell UK.(interview)(Interview)
December 1, 2005... Congratulations on being posted from Shell's Malaysian division to its UK offices in Manchester. How are you settling in? I took the final year of my degree at Nottingham University Business School and I have also spent quite a lot of time...

Economics for business: the UK economy experienced a slowdown in 2005. Steve Adams explains why it happened, how policy-makers knew about it and what they did in response.(business economics)
December 1, 2005... In the summer of 2005 there were growing signs of a deceleration in the growth of economic activity in the UK. This did not necessarily mean that the level of economic activity fell but there was certainly evidence that the rate of growth had...

Exam notice.
December 1, 2005... * November 2005 exam results If you wish to receive your results via e-mail in the last week of January, you will need to select this option by Logging into "My CIMA" at www.cimaglobal.com and accessing "My personal details" and then "My...

CPD policy launched.(Brief article)
December 1, 2005... Following many months of consultation and preparation, the institute's new CPD policy, CIMA Professional Development, was launched at the annum conference in November. All members should by now have received their own Quick Reference Guide to...

Retirements by rotation.(Brief article)
December 1, 2005... Notice is given that, as the term of office of the council members in areas 1, 2, 3 (two vacancies), 4, 5, 6, 7, 11 (two vacancies) and 12 expires at the end of the annual general meeting in June 2006, elections will be held in February 2006....

Nominations.(elections to councils)(Brief article)
December 1, 2005... Nomination forms for candidates for election may be obtained from Erica Lee, head of secretariat, at CIMA, 26 Chapter Street, London SW1P 4NP, or you can e-mail your request to erica.lee@ cimaglobal.com. Forms are also available from area and...

Ballots.(elections to council)(Brief article)
December 1, 2005... If more than one candidate is nominated for a vacancy, a postal ballot will be conducted. Ballot forms will be sent to each member in the area(s) concerned. These must be returned, in the envelope provided, to the Electoral Reform Service, by...

Presidential engagements.(calendar)(Brief article)(Calendar)
December 1, 2005... Dec 3 Birmingham branch dinner, Birmingham Dec 5 Chartered Institute of Taxation 75th anniversary reception Dec 8 CCAB presidents' group meeting, Rugby Dec 15 CIMA council dinner, London Dec 16 CIMA council,...

Financial prescription for NHS.(financial management of organizations)(Brief article)
December 1, 2005... CIMA has issued a discussion paper proposing a radical solution to help NHS organisations improve their patient services. The institute is also urging financial managers to propose their own initiatives. Reforming the NHS from Within...

Response to FRC consultation.(consultation of Financial Reporting Council)(Brief article)
December 1, 2005... CIMA has responded to the Financial Reporting Council's consultation on the implications of new accounting and auditing standards for the "true and fair view" and auditors' responsibilities. Full details of the response and current...

CIMA joins forces with AICPA in the US.(American Institute of Certified Public Accountants collaborates with Chartered Institute of Management Accountants)(Brief article)
December 1, 2005... The American Institute of Certified Public Accountants (AICPA) is to collaborate with CIMA on developing products and services for their members. These will cover three core areas: business management, management accounting and financial...

Diary.(calendar)(Calendar)
December 1, 2005... The following are a selection of this month's branch events. Visit www.cimaglobal.com/events to see the full list (all are free unless otherwise stated).To book places, get in touch with the contact for the relevant area (see panels).To book on...

Upstanding orders: as the new CIMA code of ethics comes into force, Danielle Cohen explains what other factors need to be in place to ensure the highest of professional standards.
December 1, 2005... In the past five years businesses have faced up to the challenge of implementing ethical codes that not only ensure that all staff operate to the same value system but also serve to increase public trust in their activities. Yet recent events...

Mike Chappell FCMA.(appointments of City of Bradford Metropolitan District Council )(Brief article)
December 1, 2005... Mike Chappell FCMA has joined City of Bradford Metropolitan District Council as a financial consultant. He was previously director of finance and administration at West Yorkshire Housing Association.

Monarch.(ON THE MOVE)
December 1, 2005... Alistair Moffat FCMA has been appointed CFO at Monarch, having previously been finance director of Monarch Airlines.

Marriott International.(ON THE MOVE)
December 1, 2005... Paul Butler ACMA has left Marriott International, where he was a regional FD, to return to California to start his own training and development firm.

Hamleys.(ON THE MOVE)
December 1, 2005... Alasdair Dunn ACMA has been appointed group FD at Hamleys. He joins from B&Q, where he held a number of senior finance posts.

Walking Cycling Ireland.(ON THE MOVE)
December 1, 2005... John Gaskin ACMA, co-owner of Irish Cycling Safaris, has been appointed chairman of Walking Cycling Ireland, a marketing group promoting sustainable tourism in Ireland.

Young Group.(appointments)(Brief article)
December 1, 2005... David Mackenzie ACMA has been appointed portfolio director at Young Group, a London-based property investment firm. He was head of finance in Europe for US company Iron Mountain.

Carillion.(ON THE MOVE)
December 1, 2005... David Maloney ACMA has become a non-executive director of Carillion. One of his previous positions was CFO of Le Meridien Hotels and Resorts.

Fresenius Kabi.(ON THE MOVE)
December 1, 2005... Karen Reid ACMA has become FD at Fresenius Kabi, a provider of infusion therapy. She was previously financial controller of plastics manufacturer Polimoon.

Secret diary: it's tough when you're in favour with all the wrong people and out of favour with all the right ones. It's just as well, therefore, that Piers Pommeroy is no stranger to corporate rollercoasters.
December 1, 2005... Week 1 Normally I would be quite happy for someone anyone--to say in public that I have been extremely helpful. Moreover, I would be more than delighted if the person offering the accolade were to go on to say that without my valuable...