Financial Management (UK) articles from November 2006

Financial Management (UK) archives from November 2006

This institute keeps pulling out all the stops to ensure its members' continued employability.(IN BUSINESS)(Chartered Institute of Management Accountants )
November 1, 2006... CIMA has grown to almost 70,000 members and 85,000 students. Having doubled in size in 14 years, it's also the fastest-growing chartered accountancy body in the UK, according to the latest figures from the Financial Reporting Council's...

It's official: accounting is not dull.(Survey)(Brief article)
November 1, 2006... According to recent CIMA research, 70 per cent of young people do not consider accountancy to be a boring career option. The survey, of 2,000 people aged 18 to 25, also found that almost a third were already working in this area, were thinking...

A series of conferences and quarterly reports aimed at business leaders and senior management accountants will be launched by CIMA in the new year.
November 1, 2006... A series of conferences and quarterly reports aimed at business leaders and senior management accountants will be launched by CIMA in the new year. The "Excellence in leadership" project will focus on strategic topics such as outsourcing...

Tickets are still available for two of the year's highest-profile CIMA events.
November 1, 2006... Tickets are still available for two of the year's highest-profile CIMA events. The institute's annual conference, to be held on November 9 at the Grange City Hotel in London, will cover hot topics including pensions, ethics and risk management....

IFAC boost for African accounting.(ECONOMIC DEVELOPMENT)(International Federation of Accountants)
November 1, 2006... A major initiative intended to help improve economic stability in Africa has been launched by the International Federation of Accountants (IFAC). At a recent conference in Nairobi, Kenya, over 200 delegates from around the world discussed...

Charities press IASB to issue transparency standard.(FIRST IN...)(International Accounting Standards Board )(Brief article)
November 1, 2006... A global coalition of not-for-profit organisations has persuaded the International Accounting Standards Board (IASB) to consider introducing measures that could help to improve social and economic conditions in resource-rich developing nations....

Cash-strapped health trusts face pressure to limit hospital referrals.(PUBLIC FINANCE)
November 1, 2006... The government's new financial performance ratings for healthcare bodies may force poorer trusts into "rationing" hospital treatments, a CIMA member working at a senior level in the NHS has warned. Figures published under the Department of...

FRC invites Walsh to scrutinise audit competition.(FIRST IN ...)
November 1, 2006... The Financial Reporting Council (FRC) has selected Brian Walsh FCMA to join a new panel that will look into competition in the audit sector. Walsh, who chairs the Nationwide Building Society's audit committee, was offered the role following a...

Female financial managers are falling further behind their male counterparts in the salary stakes, a new survey has found.(Brief article)
November 1, 2006... Female financial managers are failing further behind their male counterparts in the salary stakes, a new survey has found. On average they are earning 11,660 [pounds sterling] less this year, compared with a gap of 9,670 [pounds sterling] in...

Career opportunities for new CIMA.(Chartered Institute of Management Accountants)(Brief article)
November 1, 2006... Career opportunities for new CIMA passed finalists have never been better, according to a recent report on the state of the job market for accountants. The report, by financial recruitment company ECHM, states that an increase in demand...

Small to medium-sized enterprises are being urged to take advantage of the Payroll Giving Grants programme.(Brief article)
November 1, 2006... Small to medium-sized enterprises are being urged to take advantage of the Payroll Giving Grants programme before it closes at the end of the year. Organised by the Institute of Fundraising, payroll-giving allows employees to donate to any...

Helen Weir FCMA group finance director, Lloyds TSB.(ONE2ONE)(Interview)(Cover story)
November 1, 2006... You are currently the only female FD in the FTSE 100. Why are there so few? There are a number of factors at play. Life is about trade-offs, and everyone has to find the set that works for them. Inevitably, balancing my domestic and work...

Windows of opportunity: the eBay phenomenon has fuelled a new wave of e-business start-ups, but this time the lessons of the dot-com bubble have been learned. Camilla Berens finds out how smaller traders are getting a piece of the online action--and how the high-street giants are responding.
November 1, 2006... Be prepared to feel jealous. Very jealous. Richard Gibbon has a lifestyle that many of us would give our eye-teeth for. The London-based businessman not only makes a tidy income without having to leave the comfort of his own house; he's also...

Science in Court: The UK criminal justice system IT programme is a 2bn [pounds sterling] investment in case management systems and the infrastructure that connects them. Its leader, Stephen Jenner, explains his two-pronged approach to project management, which the Cabinet Office recently cited as best practice.
November 1, 2006... Organisations invest in IT projects in order to save costs, increase revenues, improve performance or achieve regulatory compliance, yet all too often they fail to deliver such benefits. The UK parliamentary committee of public accounts...

Safety spec: VSP, the largest provider of eyecare benefits in the US, was one of the first companies to try out a newly developed approach to enterprise risk management. Its CFO, Patricia Cochran, explains how the new framework has suited her firm.(Vision Service Plan )
November 1, 2006... Managing enterprise risk is a vital task that begins with the board of directors and extends across the whole organisation--and doing it effectively is a universal challenge. The Committee of Sponsoring Organisations of the Treadway Commission...

The balanced scorecard: lots of firms have got one, but has it done them any good? Sir Andrew Likierman discusses how to tell whether introducing a balanced scorecard has worked or not.(TECHNICAL MATTERS)
November 1, 2006... The balanced scorecard is one of the most widely used measurement frameworks in business. But, faced with the question: "How would you know whether it has been successful or not?" most companies would be forced to admit that they couldn't. ...

Budgeting: are budgets still needed? David Dugdale and Stephen Lyne investigate whether companies have heeded the call to scrap them and find that, in most organisations, they are still alive and kicking.(TECHNICAL MATTERS)
November 1, 2006... In recent years the use of budgets has been roundly criticised. Some writers have suggested that companies need to move beyond budgeting entirely (see panel). This led us to investigate whether these ideas have actually had an effect on...

Interventionist research: Kari Lukka explains why a CIMA research initiative is seeking academics and practitioners who are prepared to collaborate closely on real, practical issues.(TECHNICAL MATTERS)
November 1, 2006... Management accounting research often faces a familiar problem: how to make its findings of value to practice. This is why one of CIMA's research initiatives for 2006 is inviting proposals to examine management accountancy issues using an...

Organisational management and information systems: business process re-engineering is so last decade. Bob Scarlett charts the rise and fall of the movement, and the emergence of a complementary approach.
November 1, 2006... The restructuring wave that swept across the business world in the early nineties has abated. The business process re-engineering (BPR) movement was a conspicuous part of this wave. It may have served a purpose as a survival response by...

Management accounting--risk and control strategy: does your FD use the green-cross code? The examiner for paper P3 considers how people manage risk and compares their strategies to those of organisations.(PAPER P3)(finance director)
November 1, 2006... Candidates taking paper P3 should understand the central role of risk management in every organisation, whether it's a business, a public-sector body or a charity. Risk management is sometimes thought of--incorrectly--as a method for reducing...

Management accounting--decision management: in the first of two articles, Tim Thompson introduces the case of a company that's facing a tricky short-term quality problem--and invites you to solve it.(PAPER P2)
November 1, 2006... AGJ is a company that manufactures a product called the Pool Heater and sells it to local authorities, country clubs and private householders. As its name suggests, this product is used to heat water in swimming pools. AGJ buys various...

Exam notice.
November 1, 2006... Visit www.cimaglobal.com regularly for updates * November 2006 exam entry for the professional qualification November's exams will be held on Tuesday 21, Wednesday 22 and Thursday 23. The deadline for entries was September 21. *...

Elections to council 2007.(INSTITUTE UPDATE)
November 1, 2006... Notice is given that, as the term of office of the council member in each of the following electoral areas expires at the end of the annual general meeting in June 2007, elections will be held in February 2007. Nominations for candidates...

Casual council vacancy: area 3.(INSTITUTE UPDATE)
November 1, 2006... CIMA is seeking a candidate to represent area 3 (East Midlands and East Anglia) on council following the resignation of Dennis Jacklin. The term of office will be until the close of the 2009 AGM, but the successful candidate may then stand for...

CIMA offers express route to treasury qualification.(INSTITUTE UPDATE)(Associate Membership of Corporate Treasurers qualification )(Brief article)
November 1, 2006... CIMA and the Association of Corporate Treasurers (ACT) have united to provide a fast-track course of study for CIMA members and students who wish to study for the Associate Membership of Corporate Treasurers (AMCT) qualification. CIMA members...

CIMA presents interactive CPD webcast.(INSTITUTE UPDATE)(Chartered Institute of Management Accountants)(Continuing Professional Development )(Brief article)
November 1, 2006... CIMA has added another resource to support its members' CPD activities. Throughout the year, Nigel Race, the institute's CPD manager, has been giving branch presentations on the new professional development scheme and its monitoring process,...

IFAC spreads its online KnowledgeNet.(INSTITUTE UPDATE)(International Federation of Accountants)(Brief article)
November 1, 2006... CIMA has joined the International Federation of Accountants (IFAC) and other accountancy bodies from around the world to launch the IFAC KnowledgeNet: an innovative search engine designed to assist you in your accountancy studies and day-to-day...

Presidential engagements.(INSTITUTE UPDATE)(Calendar)
November 1, 2006... Nov 8 ACT dinner, London Nov 9 CIMA annual conference, London (vice-president attending) Nov 10 IFAC council, Istanbul Nov 14 President's luncheon, Scotland Nov 17 CIMA honorary officers' meeting, London Nov 21...

Breakthrough in New Zealand.(INSTITUTE UPDATE)(New Zealand Institute of Chartered Accountants)(Brief article)
November 1, 2006... CIMA and the New Zealand Institute of Chartered Accountants (NZICA) have concluded an alliance agreement to develop a qualification for accountants in business in New Zealand. "This new strategic alliance builds on the close relationship...

Boost for lifelong learning.(INSTITUTE UPDATE)(Brief article)
November 1, 2006... Increasing numbers of CIMA members and students are committing to lifelong learning by attending events and using support tools. UK event bookings increased by 64 per cent in the first half of 2006. From January to the end of June, more than...

Diary.
November 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,...

Know your enemy: all employers must protect themselves against the real risk of being defrauded by their own staff. Mike Brooks explains how to set up an effective profiling system.(JOBS & CAREERS)
November 1, 2006... Inside every business there is another, hidden business with its own operatives, processes and clients. Alongside every public service there is parallel operation providing benefits to an unauthorised set of recipients. And shadowing almost...

Setting an example.(Letters)(Letter to the editor)
November 1, 2006... I read David Tyrrall's article on the future of standard-setting bodies with great interest (Technical matters, October). I was particularly struck by his reference to the fact that "entities of all sizes would have to use IFRS" as...

Quality questions.(Letters)(Letter to the editor)
November 1, 2006... Even though I am retired, I like to keep in touch with developments in business generally and management accounting in particular. For this purpose I rely on high-quality reading material such as what Management Accounting and, before that,...