Financial Management (UK) articles from June 2006

Financial Management (UK) archives from June 2006

I've been fortunate enough to preside over a fantastic year of achievement for CIMA.(IN BUSINESS)(Chartered Institute of Management Accountants)(Column)
June 1, 2006... From Northern Ireland to Malaysia to the Republic of Ireland, there's been significant activity during my last full month as president. Only weeks before the Northern Ireland Assembly members were summoned back to Stormont, I was lucky...

CIMA has the fastest-growing membership of all professional accountancy bodies in the UK and the Republic of Ireland, according to the institute's recently published 2005 annual review.(Chartered Institute of Management Accountants)(Brief article)
June 1, 2006... CIMA has the fastest-growing membership of all professional accountancy bodies in the UK and the Republic of Ireland, according to the institute's recently published 2005 annual review. Membership increased by four per cent worldwide last year....

Extremists force small investors to consider using nominee accounts.(SHAREHOLDER RELATIONS)(Brief article)
June 1, 2006... Private shareholders concerned about investing in firms linked to controversial issues such as animal testing are being advised to take an alternative approach to protect their identities. The UK Shareholders' Association (UKSA) is...

Tilley applauds provision of "safe harbour" for directors.(FIRST IN ...)(Charles Tilley)(Brief article)
June 1, 2006... CIMA's chief executive, Charles Tilley, has welcomed the government's decision to limit directors' liabilities relating to forward-looking statements made in the new-style business review. Following an extended consultation period, the...

Offer a soft centre to journalists, urges chocolate company's CEO.(CORPORATE SOCIAL RESPONSIBILITY)(Brief article)
June 1, 2006... The chief executive of Cadbury Schweppes has warned businesses to be more open to public dialogue if they are to avoid a media backlash. Speaking at the Institute of Directors' annual convention in London, Todd Stitzer said that "business...

The Accounting Standards Board.
June 1, 2006... The Accounting Standards Board is seeking further views on its plans for convergence with international financial reporting standards as it moves toward finalising its proposals. The subject up for discussion include: the extension of IFRS to...

The European Federation of Accountants (FEE) has published the findings of its discussion paper.(Brief article)
June 1, 2006... The European Federation of Accountants (FEE) has published the findings of its discussion paper on EU risk management and internal control. The new report concludes that, while Europe should learn from the US experience of Sarbanes-Oxley,...

Think-tank calls for higher standards in tax planning.(FIRST IN ...)(Brief article)
June 1, 2006... Tax transparency will become the next big issue on the ethics agenda, according to a new research report. The publication, by independent think-tank SustainAbility, states that corporate tax planning should be subject to the same standards of...

The Co-operative Bank.(most socially responsible businesses)(Brief article)
June 1, 2006... The Co-operative Bank, BAA and Barclays have been named as the UK's three most socially responsible businesses. According to the latest corporate responsibility index, they ranked highest out of 131 participating firms in terms of their...

Despite fears of age discrimination at work, new research has found that many employers around the world value older workers.(workers survey)(Brief article)
June 1, 2006... Despite fears of age discrimination at work, new research has found that many employers around the world value older workers. A poll of 20,000 people and 6,000 employers in 20 countries by HSBC found that more than half of the companies...

Looking for a new job in financial management?(survey)(Survey)(Brief article)
June 1, 2006... Looking for a new job in financial management? Try jumping on an aeroplane. According to a survey by Robert Half Finance & Accounting, global recruitment opportunities are at the highest level they've been for four years. Accountants are...

Institute's annual conference to chart tomorrow's business world.(THE FUTURE OF FINANCE)(Shaping the future)(Brief article)(Conference notes)
June 1, 2006... CIMA will be looking into the corporate crystal ball at its 2006 annual conference in November. The event, entitled "Shaping the future", will bring together leading figures in the fields of pensions, the global economy, ethics, risk...

The CIMA Financial Management Awards 2006.(FIRST IN ...)
June 1, 2006... Members and students thinking about making nominations for this year's competition should get their skates on: the deadline has been brought forward to the middle of next month. The CIMA Financial Management Awards high-light teams and...

Andrew Jackson FCMA Chief financial officer, UK Atomic Energy Authority.(ONE2ONE)(Fellow Chartered Management Accountant)(Interview)
June 1, 2006... You've been at the UKAEA for nine months now. How are you settling in? It's been quite a change from my background, which has mostly been in contracting. I knew nothing about the nuclear industry and very little about the public sector...

Emission statement: Sharp increases in the cost of energy have forced the heavy corporate consumers to review how they source it, pay for it and use it, writes Camilla Berens. Can the rest of the business world afford not to follow their lead?
June 1, 2006... When Sir Terry Leahy recently declared Tesco's retention to spend 100m [pounds sterling]on developing environmentally friendly energy sources for its stores and distribution centres he was throwing down a green gauntlet not only to direct...

Realty check.(property management and the cost involved)
June 1, 2006... While the TV schedules are full of programmes telling us how to buy, do up and sell our homes to improve our lives and make money, little attention seems to be paid to the buildings in which we work. Yet property is the second-highest cost...

Ned alert: despite the clarifications of the Combined Code and the Higgs review, too many non-executive directors remain hazy about their job--and a lot of candidates who do understand it don't want to do it.(Independent non-executive directors )
June 1, 2006... It may have been billed as another weapon in the fight against corporate malfeasance, but the role of independent non-executive director is still seen as an ineffective safeguard. It also appears that fewer and fewer people want to do the job....

Data mining: Oliver Buckley explains how a little IT knowledge can take the hard labour out of extracting grains of crucial information from mountains of raw data.(TECHNICAL MATTERS)
June 1, 2006... When accessing information for analysis, we generally obtain what we need through hard-copy or soft-copy reports. Hard copy, the staple reporting format for years, has many obvious qualities--it's a permanent record, for example, which is ideal...

CSR reporting: Carol Adams and Geoff Frost report on the findings of their research into how social/environmental performance issues affect firms' strategic decision-making.(TECHNICAL MATTERS)(Corporate social responsibility)
June 1, 2006... Sustainability reporting and related issues have attracted increasing interest from business, the media, policy-makers and the accounting profession. Much of this has focused on the information that is reported, rather than on the...

Anthony Fussey, deputy head of budget allocation, HM Courts Service, London.(STUDENT ONE2ONE)(Her Majesty's Courts Service)(dialogue with Anthony Fussey)(Interview)
June 1, 2006... It's been an extremely busy year for you. Things are settling down quite well now but, yes, I have been on a steep learning curve. HM Courts Service was set up only just over a year ago and we had the task of merging 43 separate bodies into...

Global contact details.(Directory)
June 1, 2006... CIMA Services was relauncbed as CIMA Contact from July 1, 2004 to reflect that students and members now contact us via e-mail, from our web site, via fax and via telephone, and that we offer information to students, members, organisations and...

Integrated management: an alarming proportion of IT projects do not meet all of their stated objectives. Ruth Court investigates the main reasons behind project management failures.(PAPER P5)(Survey)
June 1, 2006... "Organisations around the world are losing more than a quarter of the benefits of their IT projects because of a failure to manage projects throughout their lifecycle." That's one of the main findings of KPMG's 2005 global IT project management...

Management accounting--decision management: gain-sharing deals are, on the face of it, a win-win situation for suppliers and their customers. Tim Thompson examines their possibilities and practicalities.
June 1, 2006... Any discussion of gain-sharing arrangements requires an understanding of what constitutes a business contract. A contract is an agreement whereby two parties commit to some form of exchange. This may include any combination of the supply of...

May 2006 exam results.(EXAM NOTICE)
June 1, 2006... You can register online to receive your results via e-mail. If you wish to receive your Nay results this way, you will need to select this option by July 20. To do this, log on to "My CIMA" via www.cimaglobal.com, access "My personal details"...

Illness during the exams.(EXAM NOTICE)
June 1, 2006... If you were taken ill before or during the exams and you feel that it may have affected your performance, let the institute know and a special panel will consider your circumstances. Write to us, enclosing medical evidence such as a...

Exam question papers.(EXAM NOTICE)
June 1, 2006... The May 2006 question papers are now available to download from www.cimaglobal.com/studyresources. Simply click on the relevant subject name on the left-hand side of the screen and then choose the "Exam questions" option. You can also...

Post-exam guides.(EXAM NOTICE)
June 1, 2006... Post-exam guides for each of the professional level subjects will be available to download from the "Study resources" area of the institute's web site three to four months after the exams have taken place. (www.cimaglobal.com/studyresources).

Strategic level and TOPCIMA script review service.(EXAM NOTICE)
June 1, 2006... After the May exam results are released the institute will be offering a script review service for the three papers at strategic level (Management Accounting--Business Strategy; Management Accounting--Risk and Control Strategy; and Management...

Computer-based assessments at certificate level.(EXAM NOTICE)
June 1, 2006... For full information on entering for a computer-based assessment at certificate level, visit the institute's web site at www.cimaglobal.com/certificateentry.

Queries.(EXAM NOTICE)
June 1, 2006... If you have any questions, please visit the CIMA web site (www.cimaglobal.com) to see if they are answered there, or get in touch with CIMA Contact (e-mail: cima.contact@cimaglobalcom; tel: 020 8849 2251; fax 020 8849 2450) or your local office...

CIMA revamps its provision of professional guidance.(INSTITUTE UPDATE)(Chartered Institute of Management Accountants)(Brief article)
June 1, 2006... The institute is launching a new technical information service (TIS) on June 1. Feedback from members indicates that they want electronic resources instead of a traditional telephone inquiry service and the new TIS is also intended to benefit...

Cima to hold guidance session on the impact of new certificate syllabus.(INSTITUTE UPDATE)
June 1, 2006... The institute will be joining forces with FTC Kaplan on July 6 to offer a free briefing on the CIMA certificate. This is designed to help CIMA employers and their trainees prepare for the new syllabus. As well as offering guidance on...

Presidential engagements.(INSTITUTE UPDATE)
June 1, 2006... June 7 ICAEW incoming president's dinner, London June 10 Annual general meeting, Cafe Royal, London

Institute finances trio of research projects.(INSTITUTE UPDATE)(Chartered Institute of Management Accountants)
June 1, 2006... CIMA is underscoring its reputation for innovation in financial management by funding three research projects designed to increase awareness of how finance departments can introduce ways to manage organisations more effectively. This...

Access CPD know-how on the net.(INSTITUTE UPDATE)
June 1, 2006... CIMA's web site now includes a new section aimed at helping members to manage their CPD. The CIMA Professional Development Centre provides a central location for CPD information and guidance. Located in the "My CIMA" area of the site, it offers...

Panel to probe pensions.(INSTITUTE UPDATE)(managing the risk of pensions)
June 1, 2006... The institute has established a pensions advisory group with a remit to form a checklist of issues to be considered when managing the corporate risk of pensions and to explore areas for further research. Members of the group include the...

Disciplinary committee.(INSTITUTE UPDATE)(Bryan Harris)(Nasim Banu Patel)
June 1, 2006... The disciplinary committee considered allegations of misconduct against Bryan Harris--namely, that he had failed to comply with the laws of the institute by showing a lack of integrity and by acting in a manner inconsistent with the good...

Poor accounting practices highlighted among SMEs.(INSTITUTE UPDATE)(Small and medium sized companies)
June 1, 2006... A long-awaited review by the Public Oversight Board for Accountancy (POB) has found that a significant number of qualified and non-qualified accountants are submitting poor-quality accounts to Companies House, writes Martin Nimmo. It identified...

Horrific hobbies? get in touch.(INSTITUTE UPDATE)
June 1, 2006... CIMA has over 104,000 members and students in the UK, so many of you must be involved in activities that your local newspaper would love to hear about. We can help you contact them and get CIMA some column inches, too. If you, or a CIMA...

For richer, for poorer?(Letters)(Letter to the editor)
June 1, 2006... I read with interest Victor Sheahan's amusing piece about how to calculate the optimum number of guests to invite to his wedding (Study notes, May). He calculated that 7,500 [euro] would cover fixed costs such as the dress, cake, flowers,...

Room with a few.(Letters)(Letter to the editor)
June 1, 2006... I have a light-hearted response to Victor Sheahan's article concerning the cost of weddings, based on my experience as father of the bride. My daughter married a CIMA student, now an ACMA, in June 2004. To regard the cost of the reception as...

Branch line.(Letters)(Letter to the editor)
June 1, 2006... David Monk's letter ("Root causes", April) said that many events in area 11 are held a long way from north Oxfordshire. This is true--and a good thing. There would be limited demand if we were to concentrate events around, say, Chipping Norton....

Penalty area.(Letters)(Letter to the editor)
June 1, 2006... "Go with your gut feeling," said Sheffield United's manager, Neil Warnock, after he decided to stay and forego a 3.5m [pounds sterling] contract at Portsmouth last December. I feel that United lack two ingredients for success. Even this...

Diary.(Calendar)
June 1, 2006... Visit www.cimaglobal.com/events for updates and a full List of events (all branch events are free unless otherwise stated). To book places, get in touch with the contact for the relevant area (see panels). To book on a CIMA Biz.Net event,...

Improbability drive: studies suggest that optimistic leaders can motivate their companies to succeed against the odds. Ross Maynard explains how to make a habit of staying positive.(JOBS & CAREERS)
June 1, 2006... "I am an optimist. It does not seem to be much use being anything else." Sir Winston Churchill, 1954. Vision is a leap of faith--committing to a goal that can't be totally justified by the information you currently possess requires...

Secret diary: the trouble with being the self-styled guardian of your firm's morals is that you have to be above reproach yourself. Sadly for Piers Pommeroy, it's looking like a case of "pot, kettle, black".
June 1, 2006... Week 1 You can always tell when the MD is up to something unethical. He tells you: "For heaven's sake, that's not unethical; it's just ordinary, business-as-usual, straightforward common sense." Which is exactly what he said to me about...