Financial Management (UK) articles from February 2001

Financial Management (UK) archives from February 2001

Editor's letter.
February 1, 2001... If you want a job that has equal measures of pressure, hard work, conflicts of interest and huge significance, the NHS could be the perfect place for you. We hear constantly about budgetary constraints, a lack of beds and long waiting lists;...

Swedish integrated management.(Swedish software firm Prodacapo forms joint venture with UK business consultancy Bellis-Jones, Hill & Partners)(Brief Article)
February 1, 2001... Swedish ERP software vendor, Prodacapo, has launched a joint venture with UK business consultancy Bellis-Jones, Hill & Partners. Bellis-Jones, Hill & Prodacapo is offering the UK market a scalable enterprise performance management (EPM) system...

Cathedral shop buys PayPoint.(stock investment software)(Brief Article)
February 1, 2001... Hereford Cathedral has ordered PayPoint, an Advanced PayPoint solution that provides real-time stock information at the point of sale. "With most of the staff being voluntary, we needed a system that would be simple to operate and gave us total...

Gym gets fit for business.(Brief Article)
February 1, 2001... Health and fitness club operator Holmes Place has ordered a complete e-enabled finance and procurement solution from CODA. "We're growing fast and need to be in control of that growth," said Charles Baker, financial controller at Holmes Place....

Dataflow is good for the Heart.(Brief Article)
February 1, 2001... British Heart Foundation, a charity with an income last year of 69 million [pounds sterling], has upgraded its accountancy software to Dataflow-32. "Dataflow was the only solution that provided us with the features and flexibility we already...

Vague management-speak dooms business strategies.(Brief Article)
February 1, 2001... The best strategies will fail if everyone is able to interpret nebulous terms differently. Gemma Townley reports from the IIR Leading Minds conference Implementing a new business strategy often fails because each member of the management...

FM scoops international accounting awards.(Financial Management wins awards from International Federation of Accountant's Financial and Management Accounting Committee)(Brief Article)
February 1, 2001... Financial Management (formerly Management Accounting) scooped three awards in the International Federation of Accountant's Financial and Management Accounting Committee (FMAC) Articles of Merit programme 1999. The awards ceremony was held on 19...

CIMA chief executive takes early retirement.(John Chester)(Brief Article)
February 1, 2001... John Chester, chief executive of CIMA, has announced that he will take early retirement in April 2001 for personal and health reasons. "John Chester has served CIMA for six years, first as secretary, and latterly as chief executive. He has...

Business recovery professionals have saved the government half a billion pounds by rescuing nearly 100,000 jobs in failing companies.(Brief Article)
February 1, 2001... * Business recovery professionals have saved the government half a billion pounds by rescuing nearly 100,000 jobs in failing companies. The ninth R3 survey of business recovery in the UK found that nearly 98 percent of jobs potentially at risk...

The Bibby Financial Services Group has launched Bibby Asset Finance.(Brief Article)
February 1, 2001... * The Bibby Financial Services Group has launched Bibby Asset Finance. It will offer UK firms hire purchase and lease facilities, enabling them to spread the costs of vital plant and equipment over its working life on fixed interest rates.

On-line businesses can no longer afford to ignore the tax consequences of where they locate their equipment following an announcement from the OECD on the taxation of websites and servers.(industry taxation information)(Brief Article)
February 1, 2001... * On-line businesses can no longer afford to ignore the tax consequences of where they locate their equipment following an announcement from the OECD on the taxation of websites and servers. According to PricewaterhouseCoopers, many businesses...

Nine out of 10 finance/IT departments are failing to take advantage of favourable conditions in the telecoms market because they are tied into long-term.(brief contract information)(Brief Article)
February 1, 2001... * Nine out of 10 finance/IT departments are failing to take advantage of favourable conditions in the telecoms market because they are tied into long-term, inflexible and uneconomical agreements. Many companies tied into a contract with a...

International Corporate Governance.(report service information)(Brief Article)
February 1, 2001... * International Corporate Governance, a new management report from Gee Publishing, provides case studies and analysis of global governance reform including accounting standards, takeover defences, boardroom structure, executive pay and...

An acute shortage of payroll administration skills in businesses could hamper the chancellor's stated aim of boosting the UK's enterprise culture.(Brief Article)
February 1, 2001... * An acute shortage of payroll administration skills in businesses could hamper the chancellor's stated aim of boosting the UK's enterprise culture, according to the Association of Accounting Technicians (AAT). Payroll administration is...

Bank of Scotland is offering committed overdrafts for UKSMEs.(Brief Article)
February 1, 2001... * Bank of Scotland is offering committed overdrafts for UKSMEs, which are often wary of repayable on demand overdrafts. "Business continues to change at a fast pace, and it is up to banks to listen," said Colin Matthew, chief executive of the...

Financial services firms have seen a strong rise in business volumes in recent months.(PricewaterhouseCoopers survey)
February 1, 2001... * Financial services firms have seen a strong rise in business volumes in recent months, but are expecting the pace of growth to slow, according to the latest CBI/PricewaterhouseCoopers Financial Services Survey. Banks and general insurers...

FRS 17.(Brief Article)
February 1, 2001... FRS 17, which covers the treatment of pensions and other retirement benefits in the employer's accounts, has been issued by the Accounting Standards Board (ASB). It replaces SSAP 24 "Accounting for pension costs". The requirements for defined...

FRS 18.(Brief Article)
February 1, 2001... FRS 18 supersedes SSAP 2 "Disclosures of accounting policies", updating the discussion on going concern, accruals, consistency and prudence to make it consistent with the ASB's Statement of Principles for Financial Reporting. It sets out...

FRS 19.(deferred taxation of companies)(Brief Article)
February 1, 2001... FRS 19 will require companies to provide for deferred tax on a "full" rather than "partial" provision basis, eliminating one of the more significant differences between UK and international accounting standards. The new requirements supersede...

UITF Abstract 27.(FRS 10 "Goodwill and intangible assets" )(Brief Article)
February 1, 2001... Urgent Issues Task Force Abstract 27 "Revisions to estimates of the useful economic life of goodwill and intangible assets" outlaws an unusual interpretation of FRS 10 "Goodwill and intangible assets" under which a change from nonamortisation...

Letters.
February 1, 2001... Financial Management, 63 Portland Place, London W1B1AB; financialmanagement@cimaglobal.com A letter from the president CIMA is a member-driven institute and I meet a number of you during my visits to various events. I am conscious,...

Straight and narrow.(Workplace sexual discrimination management)(Brief Article)
February 1, 2001... Discrimination over sexual orientation has not traditionally been seen as sex discrimination but, warns Sue Nickson, this is changing and firms should start to reassess their benefits and disciplinary policies The question of whether sexual...

Theory of devolution.(management technique and theory)(Brief Article)
February 1, 2001... As more and more organisations move away from `command and compliance' to `trust and commitment' management, David Allen asks what devolution really means to managers Traditionally, most large organisations have had a "command and...

A healthy balance?(accounting law evaluation)
February 1, 2001... The public finance initiative has been controversial since it launched, but there are a number of accounting issue that still need to be addressed before its success or failure can be proved. Jane Broadbent, Jas Gill and Richard Laughlin report...

Sensitive operators.(economic accounting for intensive care units)
February 1, 2001... Accounting for intensive care units in hospitals raises complex ethical and measurement issues. Liisa Kurunmaki, Irvine Lapsley and Kath Melia describe how the same dilemmas have led to very different solutions in the UK and Finland Hardly...

Breeding programs.(using genetic algorithms in managerial accounting)
February 1, 2001... Just as evolution enables animals to adapt to environmental problems, so biologically inspired computing can help you to develop the best management accounting solutions. Colin Johnson and Magdy Abdel-Kader explain the benefits of genetic...

Figures of hate.(beyond budgeting)
February 1, 2001... Traditional budgets hold companies back, restrict staff creativity and prevent them from responding to customers. Jeremy Hope and Robin Fraser suggest a better way forward Independent research into the need to tackle Beyond Budgeting has...

Express delivery.(Statistical Data Included)
February 1, 2001... Robert S Kaplan, the inventor of the balanced scoreboard, and David P Norton explore ways to create strategic awareness, in the third of a series of excerpts from their new book, The Strategy-Focused Organization Imagine that you are the...

Jet-setters.(privatizing the United Kingdom's Civil Aviation Authority and the National Air Traffic Service)(Statistical Data Included)
February 1, 2001... Since 1996, the civil Aviation Authority has been undergoing a period of dramatic change as it prepares for partial privatisation. Paul Jackson discusses the implications for treasury Managing funds in the public sector is a complex affair....

On top of on-line.(the potential of internet business for an accountancy practice)(Brief Article)
February 1, 2001... You may not want to be an e-entrepreneur, but no accountancy practice can afford to ignore the potential of internet business. Paul Wellings explains the benefits and the pitfalls The dotcom world has suffered a few problems lately and you...

A northern highlight for business travellers.(Balmoral hotel, Edinburgh, Scotland)(Brief Article)
February 1, 2001... You always know you're on to a good thing when you arrive at a hotel in snow and sleet and your car is whisked away to be treated to a full valet service, while you spend time warming up in front of an open fire before checking in. For...

Smarter appliances for smarter homes.(Invensys Control Systems, Taylor Woodrow joint venture)(Brief Article)
February 1, 2001... You use the internet at work, and you even bought your Christmas shopping on-line. But until you can swear hand on heart that the web is providing you with unparalleled comfort, convenience and peace of mind, you are simply not getting enough...

Sharp rise in number of women entrepreneurs.(Barclays report)(Brief Article)(Statistical Data Included)
February 1, 2001... The number of women entrepreneurs has risen by over 22 per cent in the past four years, according to research by Barclays, which found that women are now responsible for a third of all startups. Almost half of the businesses run by women are in...

On-line corporate booking systems take off.(businesses' travel management strategies)(Brief Article)
February 1, 2001... If you're travelling on business, you need to get net savvy. Shrinking airline commissions and high travel prices are forcing businesses to implement cutting-edge travel management strategies to rein in spiralling travel and entertainment...

Whirlwind trip to Oz?(Brief Article)
February 1, 2001... Considering a trip down under? Qantas is offering a number of special deals this year, including the Bushwacker -- 628 [pounds sterling] for a flight to Sydney, Melbourne, Brisbane, Cairns, Darwin or Adelaide. Alternatively, for 932 [pounds...

Get in touch.(Brief Article)
February 1, 2001... If you're still pondering the relative benefits of text messaging and WAP technology, then you are already way out of touch. The latest device from Motorola, the V.100, is a tiny machine with all the voice capability of a mobile phone as well...

Relocation boom boosts opportunities in Sheffield.(Sharp Consultancy)(Brief Article)
February 1, 2001... Sheffield is becoming the town of choice for blue-chip firms, according to recruitment consultants at Sharp Consultancy, who point out that increasing numbers of these businesses are relocating and redirecting operations to the city centre and...

Accountancy degrees: eight out of 10 accountancy graduates say their employers prefer it.(Brief Article)
February 1, 2001... What degree do you think guarantees someone a dynamic, interesting career? Psychology? Politics? Medicine? Actually, it's accountancy. According to a new report, nearly 80 per cent of accountancy graduates in 1999 found work within six months...

Sharing skills in Africa.(Skillshare International)(Brief Article)
February 1, 2001... Paul Mackey, currently financial controller at ICI, is abandoning the rat race and using his knowledge of financial systems to help AIDs orphans and improve HIV nursing programmes in Swaziland, southern Africa. His new job as a...

Old-school ties hold back new economy.(Brief Article)
February 1, 2001... If you want to work for a dotcom, first get friendly with the owner. Faced with a crippling recruitment crisis, dotcom managers are turning to their friends and families to provide the talent they need and this is creating an old-school-tie...

Pass masters.(theft of computer passwords)(Brief Article)
February 1, 2001... You may think that protecting your work computer with a series of passwords is a bit of a waste of time, but experts are warning that failing to protect your on-line identity could cost you your job. According to Signify, the internet...

Palmtop policy.(usage of personal digital assistants)(Brief Article)
February 1, 2001... Spare a thought for your IT manager -- around 75,000 people in the UK got hand-held PDA devices for Christmas, and they are putting IT networks at risk as they connect up to corporate systems. Companies must draw up policies for hand-held and...

Language skills needed.(Brief Article)
February 1, 2001... Are you a German-, Italian- or French-speaking accounting academic? If so, are you interested in becoming an exemptions assessor, responsible for reviewing degree in diploma programmes in your specialist language? For details of duties and...

Members list on CD-Rom.(Brief Article)
February 1, 2001... If you regularly need to find information about other CIMA members, there is now a searchable list available on the members section of the CIMA website. Alternatively, you can obtain a copy of the CIMA list of members on CD-Rom. The CD-Rom is...

New Business Manager of the Year.(Brief Article)
February 1, 2001... A 26-year-old CIMA member beat off competition from across the UK by demonstrating an impressive combination of technical and commercial skills and wide-ranging external interests Louise Taylor, commercial finance manager at BT Ignite, beat...

Direct mailing service.(Chartered Institute of Management Accountants database)(Brief Article)
February 1, 2001... CIMA's database of names and addresses is sometimes used to send members and students information on goods and services they may find of interest. This does not in any way indicate the institute's approval or disapproval of the goods and...

TEN video explains how the 3As can complement the 3Es to improve NHS.(accounting training videos)(Brief Article)
February 1, 2001... The October TEN video combines two excellent programmes based on planning and control. The first features Colin Reeves, director of finance and performance in the NHS, who explains the controls assurance project which embeds the principles of...

Subscription notice reminder.
February 1, 2001... Your subscription was due on 1 January and payment must be received by 31 March. When paying your subscription, please do not send cash. CIMA accepts: * a money order, UK postal order, or cheque (sterling only), crossed and made payable to...

Monthly direct debit dates 2001.(Brief Article)
February 1, 2001... Monthly direct debit dates 2001 Processing date UK 03/01/01 Ireland 19/01/01 UK 02/02/01 UK 06/03/01 Ireland 06/03/01 UK 04/04/01 Ireland ...

Joshua Magus Nicol FCMA has become the first member in practice in Ghana.(accounting services)(Brief Article)
February 1, 2001... Joshua Magus Nicol FCMA has become the first member in practice in Ghana. Nicol works as financial consultant and field team leader for Zone II, Ministry of Local Government and Rural Development. Before this, he worked for P&T, International...

Adrian Rozario FCMA has been appointed finance and operations director of Clarity International.(Fellow Chartered Management Accountant)(Brief Article)
February 1, 2001... Adrian Rozario FCMA has been appointed finance and operations director of Clarity International. He joins from APV, a subsidiary of Ivensys, where he was group financial and commercial director.

Bill Connell FCMA has been appointed as director of risk management for The BOC Group.(Fellow Chartered Management Accountant)(Brief Article)
February 1, 2001... Bill Connell FCMA has been appointed as director of risk management for The BOC Group. Connell is a member of CIMA council and chairman of the new financial and management accounting committee (FMAC) of the International Federation of...

Nick Payne FCMA has recently been appointed director of finance at Cambridgeshire Constabulary.(Fellow Chartered Management Accountant)(Brief Article)
February 1, 2001... Nick Payne FCMA has recently been appointed director of finance at Cambridgeshire Constabulary. He joins them from the Ministry of Defence, where he was the financial controller for equipment support. Before this, he was the chief accountant...

Ramesys has appointed Richard Wingfield FCMA as its new group finance director.(Fellow Chartered Management Accountant)(Brief Article)
February 1, 2001... Ramesys has appointed Richard Wingfield FCMA as its new group finance director. He joins after four years with Siemens Network Systems Group as finance and commercial director. Prior to that, he was financial controller of both Energis...

Jeremy Garlick ACMA has joined Westfield Design & Construction as design accountant/business manager.(Associate Chartered Management Accountant)(Brief Article)
February 1, 2001... Jeremy Garlick ACMA has joined Westfield Design & Construction as design accountant/business manager, based in Sydney, Australia. Previously, he worked for News Limited as the print centre accountant for Sydney operations.

Ahmad Anwar Hossen FCMA has been appointed general manager of Napson's Garments based in Mauritius.(Fellow Chartered Management Accountant)(Brief Article)
February 1, 2001... Ahmad Anwar Hossen FCMA has been appointed general manager of Napson's Garments based in Mauritius. He recently graduated with an MBA from Napier University where he was also the university medal winner.

SquareSum has appointed Nadine ter Meulen as marketing manager.(Brief Article)
February 1, 2001... SquareSum has appointed Nadine ter Meulen as marketing manager. She joins SquareSum from Lawson, where she worked for four years. During her time at the company, ter Meulen progressed from marketing executive to marketing programme manager.

Accountancy firm Creaseys has appointed Elizabeth Robertson as a new partner.(company personnel changes)(Brief Article)
February 1, 2001... Accountancy firm Creaseys has appointed Elizabeth Robertson as a new partner. Robertson joined Creaseys from Deloitte & Touche, where she worked for 15 years, most recently as a senior tax manager.

Teather & Greenwood Investment Management has appointed Andrew Chapman as senior fund manager.(Brief Article)
February 1, 2001... Teather & Greenwood Investment Management has appointed Andrew Chapman as senior fund manager. Chapman joins after nine years with United Assurance Group where he was the investment manager.

Digby Nicklin ACMA has been appointed assistant treasurer at Hammerson.(Hammerson PLC)(Brief Article)
February 1, 2001... Digby Nicklin ACMA has been appointed assistant treasurer at Hammerson. Prior to this, he was management accountant, process equipment division, at Air Products.

Last Mile Solutions (LMS).(Richard Exact is new financial controller)(Brief Article)
February 1, 2001... Last Mile Solutions (LMS), the e-grocer, has appointed Richard Exact FCMA as its financial controller. Exact joins LMS from Whitbread.

Aviemore accountancy practice Forsyth & Co has achieved Investors in People (IiP) status.(Brief Article)
February 1, 2001... Aviemore accountancy practice Forsyth & Co has achieved Investors in People (IiP) status. Despite employing only one member of staff, Iain Forsyth decided to work towards the standard when it became clear that his business was going to expand.

Mike Callanan FCMA has become principal consultant at Cornwell Affiliates.(Brief Article)
February 1, 2001... Mike Callanan FCMA has become principal consultant at Cornwell Affiliates. Previously he held positions with Ford Motor Company, Fiat Auto UK and GE.

Fleet Management.(offers information to manage corporate car fleets)(Brief Article)
February 1, 2001... There is no escaping it; running a fleet is getting tougher. On the one hand, car prices are coming down -- which is good news for buyers; on the other hand, existing cars have much lower values -- which is bad news for those with large fleets...

Car mileage allowances slashed by 50 per cent.(new Board of Inland Revenue policy)(Brief Article)
February 1, 2001... The Inland Revenue is planning to cut 50 per cent off car mileage allowances for all staff following a large-scale opt-out of company car schemes by employees. Staff who use their car for their employer's business can currently claim tax...

Fleet guidance for SMEs.(small and medium sized enterprises car fleet management tips)(Brief Article)
February 1, 2001... HSBC Invoice Finance has published a new guide to help businesses identify their company vehicle requirements and the best methods of funding them. The Small Business Guide to Vehicle Management aims to help small and medium-sized businesses...

BRADFORD & BINGLEY CAR SCHEME.(Bradford and Bingley PLC car fleet management changes)(Brief Article)
February 1, 2001... Bradford & Bingley has overhauled its fleet management approach with the launch of a group-wide "Whitechapel" car-ownership scheme. The move is aimed at greatly increasing the efficiency of the group's fleet operations and, at the same time,...

TAX GUIDE FOR DRIVERS AND FIRMS.(Tolley's Tax and the Business Car in new edition)(Review)
February 1, 2001... The new edition of Tolley's Tax and the Business Car gives an authoritative preview of how the new [CO.sub.2]-based tax systems will affect company car drivers-and employers. Written by Alison Chapman, a partner at Deloitte and Touche, the book...

SURVEY HIGHLIGHTS GREEN DRIVERS.(Lex Vehicle Leasing report reveals company car drivers' environmental concerns)(Brief Article)
February 1, 2001... Some 62 per cent of company car drivers are passionate about the environment and 84 per cent believe traffic and congestion in towns and cities is a major problem in Britain today. According to the Lex Vehicle Leasing 2000 Report on company...

Cork International.(car fleet management changes)(Brief Article)
February 1, 2001... Cork International, one of Britain's biggest merchandising companies, has switched to a solus badging policy with Toyota for its 200-strong light-commercial vehicle fleet. The Nottingham-based company specialises in supplying non-food items to...

Road test.(Statistical Data Included)
February 1, 2001... If ever times were tough for the fleet market, they are now, with high fuel prices and punitive government measures. But it seems that treating 'em mean is keeping companies keen. We maybe becoming more environmentally aware, but the...

Money go-round.(accounting procedures for company cars)
February 1, 2001... Without specialist knowledge, it is all too easy to go round in circles when it comes to making decisions about financing your fleet. Geoff Tyler looks at the implications of recent events Fleet management has always been a fast-moving...

Emergency stop.(automobile lease and rental companies)(Statistical Data Included)
February 1, 2001... Last year's fuel crisis may have brought Britain's drivers to a standstill but, writes Adrienne Margolis, the episode was short-lived compared with the effects of a government report on pricing "The past 18 months have been hellish." This...

Braking point?(tax on company cars)(Statistical Data Included)
February 1, 2001... The new taxation regime could mark the end of the road for many company cars, but Gary Hull believes that it's more likely to make employers stop and consider the alternatives Company car drivers will soon see a change in the way that the...

Still in the fast lane.(Lex Vehicle Leasing report on company cars)(Statistical Data Included)
February 1, 2001... All the odds seem to be against the company car but, according to Lex Vehicle Leasing's latest report, the industry still has its foot firmly on the accelerator. It is not, you would think, the best time for the company car. Environmental...