Financial Management (UK) articles from November 2000

Financial Management (UK) archives from November 2000

Editor's letter.
November 1, 2000... Change management is never easy. A combination of fear of the unknown and loss of stability can lead to unrest and dissatisfaction when work patterns change or new initiatives are introduced. At the MoD, the big shake up is a move to...

Property draft interpretation.(Brief Article)
November 1, 2000... The Standing Interpretations Committee (SIC) has published a draft interpretation to clarify accounting issues under international accounting standards (IASs). Comments must be received by 30 November 2000. The draft interpretation is SIC-D26:...

Revision to SAS 610.(statement of accounting standards 619)(Brief Article)
November 1, 2000... The Auditing Practices Board (APB) has issued an exposure draft of a revision to statement of auditing standards (SAS) 610 "Reports to directors or management". The APB has concluded that SAS 610 should be extended to provide standards for a...

Guidance on implementing IAS 39.(International Accounting Standard 39)(Brief Article)
November 1, 2000... The International Accounting Standards Committee (IASC) has issued two documents of guidance on implementing IAS 39 financial instruments: "Recognition and measurement: IAS 39 implementation guidance -- questions and answers" and "Fourth batch...

European securities market.(Brief Article)
November 1, 2000... Increased use of IASs and more transparent company information are needed to underpin an integrated European securities market, according to the ICAEW's response to a consultation on regulation issued by the Committee of Wise Men (CWM). The...

City takes hard look at soft indications of performance.(Brief Article)
November 1, 2000... A new report shows that capital market analysts are looking at elements such as innovation, strategy and management as the keys to future shareholder wealth Soft performance indicators, such as the quality of future growth strategy and a...

Provide a pension plan.(Brief Article)
November 1, 2000... Did you know that if you employ more than five people, you will need to offer your employees a stakeholder pension plan by October next year? Are you even aware of what a stakeholder plan is? According to research by Abbey National, eight out...

Coda targets SMEs with e-business solution.(Corporate Officer and Directors Assurance; small and medium-sized enterprises)(Brief Article)
November 1, 2000... Following its acquisition by Science Systems in March this year, financial software company Coda has signed 49 new customers with major wins in active server pages (ASP), internet service provider (ISP), e-business and collaborative commerce,...

National divisions bar European leaders from international careers.(Brief Article)
November 1, 2000... Jeff Rodek, CEO of Hyperion, tells Gemma Townley that the `Europe issue' penalises multinational firms and European high-flyers The biggest challenge facing multinational and global companies is finding European leaders, according to the...

New launches at Softworld.(Brief Article)
November 1, 2000... A number of new products were launched at Softworld in Accounting and Finance. Navision showed highlights of its new enterprise business solution for mid-sized organisations, comprising fully integrated solution suites for financial management,...

JD Edwards reinvents itself.(Brief Article)
November 1, 2000... JD Edwards has reinvented itself as "the only organisation empowering organisations with the ability to collaborate openly with their trading partners to achieve dynamic collaborative commerce". Its OneWorld Xe and the XPI eXtended Process...

AssetWare looks to public sector.(Brief Article)
November 1, 2000... AssetWare Technology, formerly Catsoft, is moving into public-sector organisations where asset management is becoming more of an issue. "Our system doesn't promise to change organisations; it simply enables them to manage their assets...

Firms to get technology funding.(Great Britain)(Brief Article)
November 1, 2000... The UK could be a world leader at e-commerce, according to Patricia Hewitt, e-commerce minister. Speaking to software house Access Accounting, she said: "We need to set out what we want to achieve and not simply automate an inefficient process....

Payment by mobile phone.(Brokat-Siemens deal)(Brief Article)
November 1, 2000... Software company Brokat has teamed up with Siemens to develop a product for mobile payment transactions, enabling real-time payment for goods and services using a mobile phone. Payments are entered in real time and the receipt is indicated on...

HSBC Invoice Finance on-line.
November 1, 2000... HSBC Invoice Finance has launched Ledgerline to provide its full range of invoice finance services over the internet. The service is accessed from a PC-operating web browser. www.invoicefinance.hsbc.co.uk

Accounting information website.(Brief Article)
November 1, 2000... CCH Auditing and Accounting, a new electronic information service from Croner CCH contains texts of all extant UK accounting standards (annotated by Kingston Smith chartered accountants); model financial statements; and companies' accounts...

Debt recovery for SMEs.(PayMentor program for small and medium-sized enterprises)(Brief Article)
November 1, 2000... AgentMentor is a new debt-recovery facility from PayMentor. Aimed at SMEs, it provides small businesses with access to the debt-collection resources of larger organisations. The cost of the debt-recovery actions of all its clients are...

15 million [pounds sterling] boost for e-fraud projects.(Brief Article)
November 1, 2000... The latest projects on the government's MI programme unite psychologists with technology experts to counter high-tech crime and improve business confidence. Psychologists and social scientists working along-side technology experts have...

Financial services firms report slow down.(Brief Article)(Statistical Data Included)
November 1, 2000... Business confidence among financial services firms rose slightly after falling in the summer for the first time in nearly two years, but business volumes have grown at the slowest rate since Christmas 1997, according to the CBI and...

Letters.(Brief Article)
November 1, 2000... Financial Management, 63 Portland Place, London W1B 1AB; financialmanagement@cimaglobal.com Change of the century I have been reading CIMA's magazine for over 50 years and never has there been such a major change as in the new issue....

What Every Good Lawyer Should Know.(Brief Article)(Review)
November 1, 2000... What Every Good lawyer Should Know Author: Iain Campbell Publisher: Management Books 2000 ISBN: 1852523174 Price: 12.99 [pounds sterling] The misleading title of this work may invite short shrift from those in the legal...

The Guardian Careers Guide: Accountancy.(Brief Article)(Review)
November 1, 2000... Book: The Guardian Careers Guide: Accountancy Author: Sarah Perrin Publisher: Fourth Estate ISBN: 1841400149 Price: 8.99 [pounds sterling] This is a clearly written guide to the diverse opportunities for anybody thinking of...

Summary Financial Statements: A Guide to Best Practice.(Brief Article)(Review)
November 1, 2000... Book: Summary Financial Statements: A Guide to Best Practice Author: Katherine Bagshaw Publisher: Accountancy Books ISBN: 1841400149 Price: 25 [pounds sterling] Current UK regulations allow companies a great degree of freedom to...

Discrimination is no joke.(employers must prevent abuse by a third party)(Brief Article)
November 1, 2000... Most employers understand their obligations to prevent discriminatory acts by employees, but they may be less aware that they have a duty to prevent abuse of staff by third parties, warns Sue Nickson According to s.3.2 Race Relations Act...

The big IDEA.(Inland Revenue's interactive data extraction software)(Brief Article)
November 1, 2000... The Inland Revenue has adopted interactive data extraction software IDEA. Tony Monger explains why this could have a long-term impact on the way companies record their data Anybody watching when the apple hit Newton on the head would not...

Close encounters.
November 1, 2000... Most firms could improve the monthly closing process, but only a few have grasped the opportunity. John Fanning asks how top organisations are transforming their approaches Accountants in industry and commerce are familiar with the monthly...

Possessive thinking.(corporate asset management systems)(Brief Article)
November 1, 2000... It is ironic but, as asset management becomes increasingly complex, it is also becoming ever more vital for firms to get it right. Stephen Moriarty looks at the best ways to record and account for your assets We are always being told of...

Existential crises.(real value of assets)(Brief Article)
November 1, 2000... As financial managers are called upon increasingly to provide the information firms need to support strategic decisions, David Allen ponders the mysteries of the concept of value Most CIMA members are acutely aware of the fundamental...

Target practice.
November 1, 2000... Reduced budgets and a track record of overspending have prompted the Ministry of Defence to embark on the biggest change programme in Europe. Elizabeth Hawkes finds out how the armed forces are coping with the transition from cash to resource...

Rough ground.(coffee industry)
November 1, 2000... Although the largest chains are opening a cafe a week, most are making huge losses. Adrienne Margolis asks whether it's time for the bean counters to wake up and smell the coffee It's official. Britain is a nation of coffee drinkers. For...

Petrol fumes.
November 1, 2000... The recent petrol blockade was the latest eruption of a long-running grievance over `unfair' EU competition and fuel tax policies. Stefan Hunt and Geoff Widdowson report on new research into what keeps the FDs of medium-sized haulage companies...

Marriage rows.
November 1, 2000... Expansion is not a choice for firms, it is is a question of survival, and this is becoming increasingly true as markets consolidate into global enterprises. But, warns Iraj Tavakoli, successful mergers and acquisitions depend on more than...

Risky business.
November 1, 2000... Firms trading globally are at the mercy of currency fluctuations, but there are ways to minimise the dangers. Alpa Dhanani considers the options Firms commonly find international business opportunities inherently more risky than domestic...

Bending rules.(flexible benefits)
November 1, 2000... Flexible benefits may be flavour of the month, but they are not suitable for every company. Rachel Shabi asks which firms could gain from introducing a flex scheme and looks at the pitfalls they should avoid It's early days and flexible...

Hype fidelity.
November 1, 2000... The downside of customer relationship management is that customer expectations are rising faster than firms can keep up. Steve Downton explains how to account for these demands The introduction of customer relationship management (CRM) has...

Net Benefits.
November 1, 2000... Where does your company sit on the e-commerce spectrum? Are you fully webbed up and taking advantage of all the B2B and B2C opportunities on offer? Or are you nervously watching what the competition is doing and worrying about investing time...

Received wisdom.
November 1, 2000... The best way to learn about how to win at e-commerce could be to discuss experiences with business people who have succeeded, as Gemma Townley found on a course in Milan There are two schools of thought when it comes to business training....

E-tail is detail.
November 1, 2000... Using the internet for business, whether you are a dotcom or a traditional company, requires careful planning and an understanding of the market. And as Neil Bromage reports, both kinds of business can learn a lot from each other It has...

Double up or quits.
November 1, 2000... As more small companies find going it alone on the internet difficult, alliances could provide an answer. Steve Wallace describes how getting a little help from established on-line experts can make all the difference to your presence As...

Mail orders.
November 1, 2000... As police and employers are given powers to intercept e-mails, what does this mean for the legal position of companies and employees? As Geoff Tyler reports, the RIP Act could make life tricky for those caught up in mail monitoring The new...

Whither forecasting?
November 1, 2000... As e-commerce becomes more widespread, companies risk being left out in the cold when it comes to budgeting and forecasting. Gary Simon believes a bold approach to web technology is required It is widely acknowledged that product...

Exchange traits.
November 1, 2000... Business-to-business trading exchanges look set to deliver big savings, even to already lean supply chains. Rupert Booth explains why setting them up may be an effort, but the rewards are obvious Business-to-business (B2B) exchanges are...

High flyers penalised as air fuel prices soar.
November 1, 2000... Rising fuel prices are being passed on to UK air travellers, according to the latest American Express European corporate travel index. The full effect of higher fuel charges will not be felt until the end of the year, but when crude oil reaches...

Firms need mothers.
November 1, 2000... Attracting and retaining key members of staff continues to be a high priority board-level issue in most companies but, while boosting pay, opportunities and non-financial benefits are commonly used tactics, most UK companies are still failing...

Budget stress.(Brief Article)
November 1, 2000... Stop your managers from worrying about this year's budgets (and this year's bonus) and your company is more likely to prosper. The 25 large companies most admired by 12,000 of the world's top executives make far higher than average use of...

Take to the skis.(Brief Article)
November 1, 2000... Hurtling down mountains at breakneck speed may not be everyone's idea of fun, but if you fancy yourself as a bit of a daredevil (and a champion skier to boot), then Scope's marathon ski challenge could be for you. The challenge, which takes...

Boost to top pay.(Brief Article)
November 1, 2000... The UK's top executives have gained significant pay boosts in the past year -- the typical FTSE CEO now earns 752,000 [pounds sterling] a year, with a base salary of 550,000 [pounds sterling]. They are also seeing substantial increases in the...

Trekkies codes lack enterprise.
November 1, 2000... Accountants are hopelessly unimaginative and depressingly juvenile when it comes to computer passwords, a survey reveals. A study by recruitment group we2.net found that more than one in three use terms of endearment such as "cuddles",...

Fusion funds invention.(Baker Tilly)
November 1, 2000... Around 99 per cent of good UK-developed technologies are forced to seek funding abroad, according to the Institute of Inventors, but a chance discussion which led to the launch of an innovative financing scheme, Fusion, could change all this....

Free leaflet highlights the good, the bad and the ugly of recruitment consultancies.
November 1, 2000... Heard the one about the recruitment agency who told a candidate that the position he had interviewed for (via another agency had been filled already, just to get him to consider a job on its files? Or the agency that convinced a candidate to...

How to boss your boss.
November 1, 2000... Bosses are people who have managed to get to the top despite personality disorders, no real understanding of the business or department and a tendency to take all the credit for the hard slog of those working for them -- at least that is how it...

MBA record.(report information)(Brief Article)
November 1, 2000... The growth in e-commerce (and the prospect of making millions with a dotcom start-up) has led to record levels of prospective MBA students. The number of MBAs who started their own business grew from 3 percent in 1996 to 8 percent in 2000, many...

The third way.(limited liability partnership)(Brief Article)
November 1, 2000... The limited liability partnership will be the first new legal vehicle introduced for business ventures since 1844. Simon Young explains why all partnerships, large and small, should consider becoming an LLP For the first time since 1844,...

Abbey National Group.(company service introduction)(Brief Article)
November 1, 2000... Abbey National Group has introduced a new package of services for business recovery specialists and insolvency practitioners. Called First Response Plus, the service provides a co-ordinated approach to banking, trustee services and business...

Eastern Electricity.(Eastern Electricity PLC offering deal to small accountancy firms)(Brief Article)
November 1, 2000... Owners and managers of small accountancy firms in the UK are a cautious lot, according to research from Eastern Electricity. If they had an extra 1,000 [pounds sterling] to spend on their business, over a third of those with less than 20...

A professional organisation which has built up a network of 116 offices in 30 towns across north-east Scotland is now seeking to extend its reach across the UK.(Arbuthnott, Alexander and Associates Ltd. runs the Lower Expenditure on Supplies and Services network)(Brief Article)
November 1, 2000... A professional organisation which has built up a network of 116 offices in 30 towns across north-east Scotland is now seeking to extend its reach across the UK. According to Raft Stuart FCMA, its executive chairman, the Lower Expenditure on...

Environment jargon made easy.
November 1, 2000... Environment -- Glossary of Terms is a new free guide from CIMA. It aims to shed light on the various environmental terms that managers and professionals may come across, and to act as a point of reference for them. The glossary can be...

Correction.(Chartered Institute of Management Accountants membership list on CD)(Brief Article)(Correction Notice)
November 1, 2000... The list of CIMA members is now available on the CIMA Global website (cimaglobal.com). It is also still available on CD, contrary to reports in FM September 2000. Apologies for any confusion.

CIMA prepares for a more `conceptual' code of ethics.(Chartered Institute of Management Accountants)(Brief Article)
November 1, 2000... The institute's ethical guidelines are being reviewed to include the latest IFAC changes Codes of ethics, or perhaps more accurately codes of professional conduct, are increasingly seen as the best way to log issues that professional...

Dotcoms highlight issue of intellectual capital.(changes in practices imminent)(Brief Article)
November 1, 2000... The growth of the knowledge economy will change the role of the accountant beyond recognition. Information technology and the creation of so-called knowledge enterprises are changing business cultures around the world in ways which were...

Finance chiefs analyse leadership.(leadership's relation to management discussed)(Brief Article)
November 1, 2000... Leadership style should depend on the business model and stakeholders rather than on ideas of "right" and "wrong". According to the heads of global corporations, academics and human resource specialists, what works in a start-up won't be...

Lord Mayor calls for stronger links with emerging markets.(Clive Martin on London's financial services industry)(Brief Article)
November 1, 2000... Alderman Clive Martin FCMA, the Lord Mayor of the City of London, has urged British industry to build stronger trade links with emerging markets. "As an international financial centre, the City of London is much larger than just the UK's own...

Credit for Bahrain members.(from Credit Institute of Management Accountants)(Brief Article)
November 1, 2000... His excellency Abdulla Saif, who was appointed finance minister for Bahrain earlier this year, has joined the 12 CIMA members who have already been credited for their extensive contributions in developing the local economy. CIMA's presence in...

Anglian Water Information Services.(hires David Norman)(Brief Article)
November 1, 2000... David Norman ACMA has joined Anglian Water Information Services as senior business analyst, based in Huntingdon. He previously worked for Barclays Personal Investment Management in Peterborough. On the move is edited by Danielle Johnson....

Meyer Group.(hires Lac Chohan)(Brief Article)
November 1, 2000... Meyer Group, the UK office of St Gobain, has appointed Lac Chohan ACMA as its business control specialist. He moves from being group auditor at National Express Group. Before this, Chohan worked for KPMG, where he gained a strong background in...

Amdahl Computer Corporation.(Amdahl Corp. hires Martin Naughalty)(Brief Article)
November 1, 2000... Martin Naughalty FCMA has joined Amdahl Computer Corporation as vice-president, finance and administration for Europe, the Middle East and Africa, based at the UK headquarters at Hook in Hampshire. Prior to this, Naughalty worked at BEA Systems...

Car Plan.(Columbo Fort Land and Buildings Group hires M.H.M. Hazim)
November 1, 2000... MHM Hazim ACMA has been appointed as finance manager of Car Plan, a subsidiary of Colombo Fort Land and Buildings Group. Before this, Hazim worked for KPMG Sri Lanka, Jafferjee Brothers Group and Dutch Dairy Foods. On the move is edited by...

Somerset College of Arts and Technology.(hires Karen Hagan)(Brief Article)
November 1, 2000... Karen Hagan ACMA is the new director of finance at Somerset College of Arts and Technology. Prior to this, she was finance director at Plymouth College of Art and Design. On the move is edited by Danielle Johnson. Please e-mail her with...

Hitchenor Maher Financial.(hires Jo Sellick)(Brief Article)
November 1, 2000... Hitchenor Maher Financial has appointed Jo Sellick as consultant at its Leeds office. Jo moves from Badenoch & Clarke in Leeds. On the move is edited by Danielle Johnson. Please e-mail her with news of your move at the...

PT CGU Insurance.(appoints Richard Price)(Brief Article)
November 1, 2000... PT CGU Insurance, based in Jakarta, has appointed Richard Price ACMA as technical adviser for finance. He moves from being technical adviser at PT Asuransi Guardian Indonesia. On the move is edited by Danielle Johnson. Please e-mail her...

Banes Construction.(promotes Colin Platt)(Brief Article)
November 1, 2000... Colin Platt FCMA has been promoted to financial director and company secretary at Banes Construction. He was previously a director and company secretary at Markem Systems. On the move is edited by Danielle Johnson. Please e-mail her with...

Nigel Turnbull has joined the Risk Advisory Group as a non-executive director.(company personnel changes)(Brief Article)
November 1, 2000... Nigel Turnbull has joined the Risk Advisory Group as a non-executive director. Turnbull was chairman of the committee responsible for the Turnbull Report. He is also on the ICAEW council and is chairman of the Business Focus Group. On the...

Sony Broadcast & Professional Europe.(Ian Robertson appointment)(Brief Article)
November 1, 2000... Sony Broadcast & Professional Europe (BPE) has appointed Ian Robertson as finance director, Sony BPE. Robertson joins from the Whirlpool Corporation. On the move is edited by Danielle Johnson. Please e-mail her with news of your move at...

David Wells ACMA has left Bournemouth University and set up as a consultant.
November 1, 2000... David Wells ACMA has left Bournemouth University and set up as a consultant. Wells has published many financial services articles and has lectured at Tresham College, Kettering, and Nottingham University. On the move is edited by Danielle...

Hurst Corporate Transactions.(Brief Article)
November 1, 2000... Hurst is opening a corporate finance and tax office in Manchester. Hurst Corporate Transactions comprises senior partner Malcolm Hurst and four deal leaders: Jeremy Cole, David Houghton, Colin Abrahams and David Martin. On the move is...

Guardian Newspapers.(Elizabeth Moore appointment)(Brief Article)
November 1, 2000... Guardian Newspapers (GNL) has appointed Elizabeth Moore as financial controller. She joins from Thomson Legal & Regulatory Group (TLRG) where she was finance director for Gee Publishing. On the move is edited by Danielle Johnson. Please...

Boleyn & Forest Housing.(hires Douglas Oppong)(Brief Article)
November 1, 2000... Douglas Oppong ACMA, has been appointed financial controller of Boleyn & Forest Housing. He joins from Shepherds Bush Housing Group. On the move is edited by Danielle Johnson. Please e-mail her with news of your move at the...

Marlborough Stirling.(John Lomer)(Brief Article)
November 1, 2000... John Lomer has been appointed FD at e-commerce financial services provider Marlborough Stirling. He joins the company from the Prym Group. On the move is edited by Danielle Johnson. Please e-mail her with news of your move at the...

Granger Telecom.(hires Patricia Barrett)(Brief Article)
November 1, 2000... Patricia Barrett FCMA has joined Granger Telecom as management accountant. She has worked at Racal Telecom & Nynex and Pirelli General. On the move is edited by Danielle Johnson. Please e-mail her with news of your move at the...

Crown Business Communications.(promotes Jennifer Connelly)(Brief Article)
November 1, 2000... Crown Business Communications has promoted Jennifer Connelly to FD. On the move is edited by Danielle Johnson. Please e-mail her with news of your move at the danielle.johnson@cimaglobal.com

4imprint.(Justin Lang appointment)(Brief Article)
November 1, 2000... 4imprint has appointed Justin Lang as finance manager. He joins from Park Group in Birkenhead. On the move is edited by Danielle Johnson. Please e-mail her with news of your move at the danielle.johnson@cimaglobal.com

Lincolnshire Ambulance and Health Transport Service NHS Trust.(hires Margaret Serna)(Brief Article)
November 1, 2000... Margaret Serna FCMA has been appointed chief executive of the Lincolnshire Ambulance and Health Transport Service NHS Trust. She first joined the trust in November 1998. On the move is edited by Danielle Johnson. Please e-mail her with...