Financial Management (UK) articles from February 2009

Financial Management (UK) archives from February 2009

Consolations of philosophy.(letters)(Letter to the editor)
February 1, 2009... Listening to the recent CIMA webcast on ethics, I recalled a job interview I had in the seventies. As an aspiring accountant with a degree in the unfashionable subject of philosophy, I was not high on the wish-list of the City firm that offered...

FRC issues directors' guides.(first in ...)
February 1, 2009... The Financial Reporting Council (FRC) has published advice for directors and audit committee members who are having to spend more time on planning year-end activities, reviewing key assumptions used in financial reporting and reviewing...

Home Office tightens up rules on secondee visas.(first in ...)
February 1, 2009... [ILLUSTRATION OMITTED] Employers planning to bring workers from outside the European Economic Area (EEA) into the UK as business visitors should be aware that new guidance from the UK Border Agency (UKBA) has reduced the scope of the...

CIMA unveils qualification for 2010.(first in ...)
February 1, 2009... The institute has launched its updated professional qualification, CIMA Future. Developed in conjunction with the University of Bath, it follows extensive research and contributions from more than 4,500 employers and other stakeholders...

IFAC raises standards.(first in ...)
February 1, 2009... The International Federation of Accountants has released a policy paper describing and explaining the international standard-setting process. "International standard-setting in the public interest" states how responsibility is shared...

CIMA strengthens international ties.(first in ...)
February 1, 2009... The institute has signed three deals with counterpart bodies around the world to promote its members' global employability. Its agreement with the Institute of Cost and Works Accountants of India (ICWAI) allows mutual advanced entry for...

Open house for UK firms.(first in ...)
February 1, 2009... Online services at Companies House have been extended to Sundays. They are now accessible seven days a week between 7am and midnight (UK time).

Research grants up for grabs.(first in ...)
February 1, 2009... The institute has launched a research initiative entitled "Risk and reward: getting the right balance" and is inviting leading academics to submit proposals for funding. Its key focus is on the role of the management accountant in areas...

John Shaw FCMA: Director of finance and information systems, Oxfam GB.(ONE2ONE)(Cover story)
February 1, 2009... Oxfam is one of the most famous charities in the UK and it has operations around the world, How is the global credit crisis affecting you? We're updating our three-year strategic plan because, of course, our income growth projections...

What's sex got to do with it? The notion that female entrepreneurs will be more successful in the recession than their male counterparts because they are more risk-averse is at best a backhanded compliment.(opinion)
February 1, 2009... Simone de Beauvoir said that a "man is defined as a human being and a woman as a female. Whenever she behaves as a human being, she is said to imitate the male." This is a frustrating state of affairs, especially for women operating in...

Bouncing exchequers: what actually happens when a country goes bankrupt--and could it even happen to the US? Anthony Hilton examines the repercussions of national insolvency.
February 1, 2009... After a quarter-century of prosperity, people had largely forgotten that countries, as well as companies and individuals, could go bust. The reminder--Iceland's bankruptcy--came as nasty shock. Of course, they had seen defaults, most...

Frozen assets: when was the last time you had to eject a bear from your seaplane? Philip Haynes ACMA tells FM why his journey to work is not your average commute.(Interview)
February 1, 2009... [ILLUSTRATION OMITTED] Despite the blinding-sunshine, the outdoor thermometer reads-38[degrees]C, the forecast for the day is a high of -27[degrees]C and the "office" lies 500 miles away from civilisation across sub-Arctic tundra and...

Supply-chain management: Mike Bernon, John Cullen and Jonathan Gorst explain why financial managers can play a key role in reducing the costs of reverse logistics.(technical matters)
February 1, 2009... Reverse logistics--dealing with returned goods--has become a topic that retailers and manufacturers can't afford to ignore. Total retail returns in the UK have been valued at 6bn [pounds sterling] a year. Some firms can see as many as 30 per...

Pensions risk: how can firms best manage the key factors that affect their fund values? Kevin Dowd and Margaret Woods explain some important methods.(technical matters)
February 1, 2009... In July 2007 the combined pension funds of the FTSE 100 were 12bn [pounds sterling] in surplus under IAS19, according to a recent research report (1). But the same report states that the aggregate position then "fluctuated wildly" over the next...

Jasper Chung: cash accountant, GE Healthcare.(study notes)(Interview)
February 1, 2009... [ILLUSTRATION OMITTED] You grew up in Hong Kong but you work for GE in Little Chalfont, Buckinghamshire. How did that happen? I was raised in Hong Kong and I took my finance and marketing degree there. After a year as a business...

Management accounting risk--and control strategy: where should we pin most of the blame for 2008's economic meltdown? The examiner for paper P3 analyses the chain of events that led to it.(study notes)
February 1, 2009... [ILLUSTRATION OMITTED] The so-called global financial crisis has brought to the fore questions about why corporate governance processes, enterprise risk management (ERM) and internal control systems failed to protect financial institutions...

CIMA global events: CIMA quality employer partner awards, Shanghai.(Past events)
February 1, 2009... [ILLUSTRATION OMITTED] Some of the world's best-known brands were recognised for their commitment to developing talented financial management professionals at a ceremony in the financial district of Pudong on November 20. Representatives...

Coming events.(Calendar)
February 1, 2009... Visit www.cimaglobal.com/events for updates and a full list of events. CIMA Mastercourses--your catalyst for business change: www.cimamastercourses.com. China Deploying smart valuation adjustment strategy and structuring seamless...

Web-based handbook for members gets overhaul.(institute update)
February 1, 2009... The institute has revamped its online Members' Handbook to be more user-friendly and cover a larger number of current issues. A key feature is a section that highlights recently updated pages, allowing members to keep on top of best...

Chartered Institute of Public Finance and Accountancy.(On the move)
February 1, 2009... Alan Bermingham FCMA has joined the Chartered Institute of Public Finance and Accountancy as principal consultant. He was director of finance for SHAC Housing Association in Northern Ireland.

Rudy Gurley.(On the move)
February 1, 2009... Rudy Gurley FCMA, former chief executive of Cable & Wireless 's St Lucia and Grenada operations, has launched ForexCalling.com, a web site offering free training on how to trade on the foreign exchange markets.

Ernst & Young.(On the move)
February 1, 2009... David Fincher aCMA has left IBM to become a partner in the advisory practice of Ernst & Young, based in Sydney. He will continue to focus on driving change in the finance functions of large organisations.

A short hop for the shops.(last out)
February 1, 2009... [ILLUSTRATION OMITTED] "An Obama bounce is a near certainty as the new year gets under way and the new president takes office, but an early, sustained recovery is probably too much to hope for" FD Consumer Dynamics.

Enterprise gets deflector shield.(last out)
February 1, 2009... "Dorset-based marketing expert Henry Baker is giving away a guide detailing seven simple strategies small business owners can use to erect an almost impenetrable recess on force-field around their business and ignite dramatic increases in...

Crunched by Scylla and sucked down by Charybdis.(last out)
February 1, 2009... "As the credit crunch tsunami swirls round the world and recession rears its head, businesses will respond in the normal way." Procertis.

Try counting that.(last out)
February 1, 2009... "Innumerate schoolchildren cost the taxpayer up to 2.4bn [pounds sterling] a year." KPMG.

Tenth moments.(last out)
February 1, 2009... "Companies with December year-ends that are in breach of long-term borrowing covenants may find their accounts and credit ratings decimated by balance sheet rules" Smith & Williamson.

The old ones are the best.(last out)
February 1, 2009... "CBI Pubic Services Update, issue 83." Confederation of British Industry.