Financial Management (UK) articles from November 2007

Financial Management (UK) archives from November 2007

Collaborative projects around the world keep CIMA at the cutting edge of innovation.(in business)(Chartered Institute of Management Accountants)
November 1, 2007... The global business community is well aware of the seismic shifts that are transforming how and where we do business. More crucially for CIMA, these shifts are highlighting the scope and intensity of competition around the world in the war for...

Penalty zone.(letters)(Letter to the editor)
November 1, 2007... Your news item "Pension penalty" (First in, October) indicates how accounting standards that apply to pension schemes seem to have a misleading and, sometimes, damaging effect on company accounts without providing any benefit either to...

Quack shot.(letters)(Letter to the editor)
November 1, 2007... Jeremy Ash asks in his letter (October) if renaming CIMA the Chartered Institute of Finance and Strategic Management would be a step too far. My answer? Yes, it would. In the 20 years or so that I have been in the profession, about half of...

Tabloid taste.(letters)(Letter to the editor)
November 1, 2007... What has happened? Although most of FM's articles are reasonable, the most appalling layout has been perpetrated. It would disgrace a tabloid comic. And the piece entitled "Mates' rates" (September) is sheer feminism. No more. Please may we...

Keeping it clean.(letters)(Letter to the editor)
November 1, 2007... The new-style FM looks like a first-rate newsstand magazine. If l were buying the Economist and Management Today, I'd pick up FM, too. The features are interesting and challenging, while the design is clean and modern without being distracting....

British bias.(letters)(Letter to the editor)
November 1, 2007... I support the idea of modernising FM to make it more interesting to all members, but the September issue falls short of the mark, While there is some content, it generally seems to have degenerated into a mass of UK-centric advertising, while...

Why gut reactions rule.(first in ... All the latest news affecting accountants in business, including regulations updates)
November 1, 2007... [ILLUSTRATION OMITTED] Unconscious decision-making strategies, based on experience and information accumulated over many years, are central to how the best-performing people in any field make decisions, according to Malcolm Gladwell,...

CIMA has warned that companies around the world are putting their competitive position at risk by failing to transform their finance functions to improve decision-making at every level.(first in ... All the latest news affecting accountants in business, including regulations updates)
November 1, 2007... CIMA has warned that companies around the world are putting their competitive position at risk by failing to transform their finance functions to improve decision-making at every level. According to a new report published by the institute,...

The University of York is to offer accelerated masters degrees for CIMA members, aiming particularly at those working in the public sector or healthcare.(first in ... All the latest news affecting accountants in business, including regulations updates)
November 1, 2007... The University of York is to offer accelerated masters degrees for CIMA members, aiming particularly at those working in the public sector or healthcare. This is the university's first collaboration with a professional organisation. The...

Learning how to value a company or appraise a capital expenditure are just two subjects in CIMA's new range of online courses.(first in ... All the latest news affecting accountants in business, including regulations updates)
November 1, 2007... Learning how to value a company or appraise a capital expenditure are just two subjects in CIMA's new range of online courses. These were developed in response to research showing that members wanted a functional and flexible CPD tool. ...

Freestyling FCMA conquers channel.(first in ... All the latest news affecting accountants in business, including regulations updates)(Jim Boucher )
November 1, 2007... CIMA members are known for their persistence in pursuit of a goal, but few go to the physical extremes of Jim Boucher FCMA, who on August 12 swam solo across the English Channel in 15 hours and 28 minutes. It was his second attempt, after bad...

Shortlist announced for CIMA Financial Management Awards 2007.(first in ... All the latest news affecting accountants in business, including regulations updates)
November 1, 2007... [ILLUSTRATION OMITTED] TOPCIMA success award sponsored by Witan Jardine: to be announced on the night. Tutor of the year: * Senaka Kakiriwaragodage, Achievers Lanka Business School. * Sarah McHenry, Kaplan Financial. *...

Laurence Yuen FCMA: authorised representative and joint company secretary, Shanghai Jin Jiang International Hotels (Group).(ONE2ONE)(Cover story)
November 1, 2007... [ILLUSTRATION OMITTED] What does your job involve and what's at the top of your agenda at the moment? I joined Shanghai Jin Jiang International Hotels (Group) last year when it was preparing for an H-share listing--ie, the flotation of...

Director debit: Northern Rock's board has been portrayed as the villain of the piece, but it's unfair to blame it for everything and accuse it of immorality, writes Ruth Prickett, If anything, it was guilty of underestimating the media's ability to whip up a panic.(United Kingdom. Bank of England)(Viewpoint essay)
November 1, 2007... I may be alone here, but I found myself feeling sorry for Adam Applegarth, CEO of Northern Rock, as he repeatedly told reporters that the bank's customers wouldn't lose any money. Why were people so willing to equate Northern Rock's acceptance...

Going downhill fast: Danielle Cohen shares the true story of a CIMA member who contacted the institute's ethics helpline for advice, His problem stemmed from allowing what seemed, on the face of it, a minor issue to snowball into a job-threatening situation.(ethics)(Chartered Institute of Management Accountants)(Personal account)
November 1, 2007... Andrew was the management accountant of a small firm that was part of a plc. His boss, Chris, was the firm's CEO. Several months ago Chris had approached him with a query about the month-end figures that Andrew had produced, saying that they...

Shipping forecast: as East Asian factories multiply and more ports worldwide reach capacity, Charles Orton-Jones spots a storm brewing. How will your business fare if it has to wait for its ship to come in?
November 1, 2007... [ILLUSTRATION OMITTED] World leaders don't seem to be worried. The BBC is unperturbed. As for Joe Punter, reading the Daily Sport on the Clapham Omnibus or the Lanka Sun on the Colombo commute, everything is tickety-boo. But Andrew...

Lobby correspondence: the investment community's appetite for non-financial information has never been so voracious. In order to assure itself that companies' actions match their CSR rhetoric, it now wants them to report on what they are doing to persuade legislators to act in their interests. Scott Payton explains the implications of this trend.
November 1, 2007... [ILLUSTRATION OMITTED] Investor relations used to be simple: a couple of times a year, companies would update fund managers and analysts on how much money they had made and how much they expected to make in the near future. Then, at the...

Conversion course: Natalie Gordon offers her plan for surviving and thriving during an organisational change programme--as both a leader and a follower.(career development)
November 1, 2007... [ILLUSTRATION OMITTED] We've heard it all before. In the current climate of M&A mania, we're constantly being told to embrace change. We have to be leaner and faster; to create more growth and more profit. And we have to impress the new...

Customer profitability: Liz Murby explains why a strategy of keeping every one of your customers satisfied is unlikely to optimise your bottom-line results.(technical matters)
November 1, 2007... The goal of business is not to improve customer or employee satisfaction at any cost, but rather to manage these relationships and the drivers of customer profitability to improve corporate performance. The maximisation of profit and...

Transforming finance: a CIMA forum has warned business leaders that a failure to change their finance functions could harm their competitiveness.(technical matters)
November 1, 2007... The CIMA Improving Decision Making in Organisations Forum is so named because its members recognise that management accounting has a broad role to play in supporting decision-making across organisations. As global markets give companies around...

Finance business partnering: Noel Cullen and Shetal Patel explain why effective business partnering can be an elusive goal--and offer their tips on how to make it work.(technical matters)
November 1, 2007... Most companies have driven out costs and improved accuracy through their investments in enterprise resource planning (ERP) systems, shared service centres and outsourcing. Their finance departments now focus on creating value by providing...

Performance measurement: Richard Bull explains the three "effs": efficiency, effectiveness and efficacy.(technical matters)
November 1, 2007... Management accountants can make an important contribution towards maximising the value and success of an enterprise. One way we do this is by setting appropriate targets for financial performance, translating them into operating requirements...

Student one 2 one: Ozgur Kilic, Head of Oncology Finance, Novartis, Milan.(study notes)(Interview)
November 1, 2007... [ILLUSTRATION OMITTED] You went to university in Turkey and then completed an MBA in Germany, How did you end up taking the CIMA qualification? I accepted a place on Novartis's finance development programme, which involves three...

Management accounting--performance evaluation: Grahame Steven compares budgeting methods and considers whether the activity-based approach provides a basis for better financial planning.(study notes: PAPER P1)
November 1, 2007... [ILLUSTRATION OMITTED] Although a number of commentators have questioned the value of budgeting and continue to question it (see September's Study notes article on paper P1, for example), most companies use budgets, since they provide a...

Management accounting--risk and control strategy: Steve Whittenbury casts a critical eye over recent events to highlight how business risks are created and managed--effectively or otherwise.(study notes: PAPER P3)
November 1, 2007... It was the night before the 1997 UK general election in the south Devon seaside town of Torbay. Having finished his re-election campaign, the constituency's Tory MP, Rupert Allason, dined in a local restaurant. During his meal he is reputed to...

Exam notice: visit www.cimaglobal.com regularly for updates.(study notes)
November 1, 2007... November 2007 exam entry The exams will be held on Tuesday 20, Wednesday 21 and Thursday 22. Cancellations and changes CIMA does not accept cancellations and will not refund fees. The deadline for requesting changes was September...

Elections to council 2008.(institute update)
November 1, 2007... As the terms of office of the council members in electoral areas 1,2, 3, 4, 5, 6, 7, 11 and 12 expire at the end of the annual general meeting in June 2008, elections will be held in February. Nomination forms for candidates for election...

Zambia hosts key event.(institute update)(Chartered Institute of Management Accountants)(Conference news)(Brief article)
November 1, 2007... This year's CIMA Southern Africa regional conference took place in Livingstone, Zambia, with the theme of "Wealth creation: seizing the region's business opportunities". The event attracted over 300 delegates from around the world and...

Presidential engagements.(institute update)(Brief article)(Calendar)
November 1, 2007... PRESIDENTIAL ENGAGEMENTS Nov 5 CCAB presidents' group, ICAI. Nov 7-8 FEE group Berlin/IDW dinner, Frankfurt (deputy president attending). Nov 8 CIMA annual conference. Nov (tbc) Honorary...

Disciplinary committee.(institute update)(Andrew Morgan)(Chartered Institute of Management Accountants)
November 1, 2007... The disciplinary committee considered allegations of misconduct against Andrew Morgan ACMA by reason of his conduct during the period in which he had been a company secretary. This had resulted in his conviction under the Trade Descriptions Act...

Diary.(Forthcoming local events in the UK)(Calendar)
November 1, 2007... 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, unless otherwise stated. To book places on CIMA...

Front-office business and project manager: Martin Long explains what a career at the sharp end entails.(so you want to be ...)
November 1, 2007... If the advert on the right looks like an opportunity you haven't seen much before, then you'd be absolutely right. Such positions are rare--or perhaps I should say "were rare", because over the past few years the number of job specifications...

Geology or meteorology?(Mangled metaphors)
November 1, 2007... "Organisations battling with financial fault lines as business climate changes." Octopus Communications.

All at sea.(Mangled metaphors)
November 1, 2007... "E-bcm, the online credit checking and financial management service, is calling on the UK government to reverse its decision to withdraw funding for the Better Payment Practice Group, saying that its dissolution will mean the UK's small...

Run that one past us again.(... last out)(TCS Financial Inc.)(Brief article)
November 1, 2007... "TCS Financial Solutions, a strategic business unit of Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NS), dedicated to providing business application solutions to the banking, insurance and capital markets industries, announced that...

The (un)clear winner.(Mangled metaphors)
November 1, 2007... "Grant Thornton says new chancellor's pre-budget report hamstrung by predecessor's promises. Francesca Lagerberg, head of Grant Thornton's national tax office, believes that the spotlight was stolen by Gordon Brown in this year's budget...

Press release of the month: hacked off? Hacking kits for sale on eBay.(... last out)
November 1, 2007... [ILLUSTRATION OMITTED] "Tier-3, the behavioural analysis IT security specialist, has warned companies that hacker toolkits--previously confined to specialist hidden forums on the internet--are now being sold openly on auction sites such as...

Fighting talk.(... last out)
November 1, 2007... "Osborne's unfunded tax commitments are utterly feeble." Vince Cable, shadow chancellor for the UK Liberal Democrats.

Get a grip.(... last out)
November 1, 2007... [ILLUSTRATION OMITTED] In an effort to get small business owners and their accountants closer together so that they can better understand each others' needs, accounting software company KashFlow is launching a campaign to get October 25...