Financial Management (UK) articles from October 2000

Financial Management (UK) archives from October 2000

Editor's letter.
October 1, 2000... What makes someone a great leader? This is one of the questions being addressed at CIMA's Global Business Management Week, and it has no easy answer. CIMA's research into global leaders found that, while vision came high up the list of "must...

Tesco.(online sales market share)(Brief Article)
October 1, 2000... Tesco will be tough competition for other dotcom retailers. It is expected to hold on to its lead, with an on-line market share of 30 per cent forecast for 2005, worth 3.2 billion [pounds sterling] of sales. By 2008, with a market share of 27...

Sainsbury's and Waitrose.(company online financial information)(Brief Article)
October 1, 2000... Sainsbury's and Waitrose will also be on-line winners, with on-line sales of 1.7 billion [pounds sterling] and 1 billion [pounds sterling] in 2005, and over 5 billion [pounds sterling] and 2 billion [pounds sterling] by 2008, respectively.

One of the other UK supermarkets could be acquired by a foreign competitor.(Brief Article)
October 1, 2000... One of the other UK supermarkets could be acquired by a foreign competitor, to provide the necessary fulfilment logistics -- Safeway remains the prime candidate for such a deal.

Kingfisher, Boots and M&S.(Marks and Spencer, online operations)(Brief Article)
October 1, 2000... Other UK brands such as Kingfisher, Boots and M&S will find it hard to gain UK on-line dominance for grocery and toiletries -- they will need to focus on their main non-food and fashion areas.

Start-ups in food-related e-commerce will need at least 100 million [pounds sterling] of equity funding.(Brief Article)
October 1, 2000... Start-ups in food-related e-commerce will need at least 100 million [pounds sterling] of equity funding. "New collaborations between, say, technology, logistics or portal partners should not enter food-related on-line initiatives, unless they...

B2B exchanges will make food-related e-commerce viable sooner.(business to business, electronic commerce)(Brief Article)
October 1, 2000... B2B exchanges will make food-related e-commerce viable sooner. Exchanges such as Transora and World Wide Retail Exchange are expected to handle around 200 billion [pounds sterling] of European food-related e-business by 2008.

Suppliers to the food-related e-commerce leaders must develop e-management tactics.(electronic commerce)(Brief Article)
October 1, 2000... Suppliers to the food-related e-commerce leaders must develop e-management tactics that focus on key retail accounts and leading exchanges. Better understanding of consumers will drive demand, trading terms and brand share.

Profits in store for e-supermarkets.(research by E-Insight)(Brief Article)(Statistical Data Included)
October 1, 2000... Leading on-line food retailers should start to make a profit by 2005, but they will have to invest heavily to beat off foreign competition and maintain market share. Tesco and Sainsbury's should start profiting from their internet shopping...

Firms value staff above IT, but HR remains low priority.(information technology)(human resources)(Brief Article)
October 1, 2000... Despite strong agreement that attracting quality people is vital for future success, businesses are continuing to put human resource strategy low down on their priorities, writes Gemma Townley IT and e-business are far less important to the...

Firms pay for internet searches.(Brief Article)
October 1, 2000... Employees are wasting hours searching for relevant business information on the internet. According to Mediapps, a provider of personalised business portals, this is costing companies tens of thousands of pounds a year. There are currently two...

US staff spend holidays on call.(Brief Article)(Statistical Data Included)
October 1, 2000... If your summer holiday is a distant memory, spare a thought for your US colleagues who probably spent theirs dealing with company business. Some 83 per cent of US employees remained in contact with their office on holiday this year, according...

Global billing solution launched.(CODA Group PLC product)(Brief Article)
October 1, 2000... CODA is launching e-Billing, a web-enabled invoicing solution that supports global business-to-business and business-to-consumer billing, allowing global organisations to speed up their processes, improve management control and allow customers...

New capital allowances module.(from Britannia)(Brief Article)
October 1, 2000... Britannia's capital allowances module (CAM) connects to its fixed asset register, to create an automated method of calculating industrial buildings allowance and capital allowances, eliminating the need for separate spreadsheets. Budgeted asset...

SharpOwl for service companies.(from Foundation Systems Ltd.)(Brief Article)
October 1, 2000... Foundation Systems is aiming its new PSA (professional services automation) at increasing efficiency and profitability in service companies. As such firms become more complex, integration becomes more difficult. PSA, a "suite of integrated...

Sendmail secures on-line post.
October 1, 2000... European e-security solution provider Peapod has launched Sendmail, a range of secure "mail transfer agents" which ensures that e-mail remains on-line and secure, inside and outside a firm's network. Sendmail securely routes mail to local...

Catsoft International.(becomes AssetWare Technology)(Brief Article)
October 1, 2000... Catsoft International has renamed itself Assetware Technology.

Finance directors told to boost their decision-making with SEM systems.(strategic enterprise management software)(Brief Article)
October 1, 2000... Speakers at last month's E-financial Software Solutions conference urged delegates to boost their management processes with new generation web technology, writes Gemma Townley The internet is set to change dramatically the way CFOs and...

IASs and accounting directives.(international accounting standards)(Brief Article)
October 1, 2000... Federation des Experts Compatables Europeens (FEE) has published research into whether all options in international accounting standards (IASs) are available to companies, while complying with directives. A conflict with directives can often be...

Overhaul for local council audit.(United Kingdom. Audit Commission for Local Authorities in England and Wales)(Brief Article)
October 1, 2000... The Audit Commission has set out the options for a radical overhaul of the audit regime for local councils. The Audit of Parish, Town and Community Councils suggests introducing a lighter audit regime, raising the audit fee to a level that...

Revised statement on SORP.(statement of recommended practice guidelines published by Accounting Standards Board)(Brief Article)
October 1, 2000... The Accounting Standards Board (ASB) has published a statement on its revised policy and code of practice for industries or sectors developing accounting guidance in the form of statements of recommended practice (SORPs). SORPs: Policy and Code...

NIC on share options.
October 1, 2000... "Abstract 25 national insurance contributions on share option gains", from the ASB, requires provision for national insurance contributions on outstanding share options. The provision must be allocated to the end of the performance period.

Chinese family firms hold key to future of Asian economy.(Andersen Consulting and the Economist Intelligence Unit publish report)(Brief Article)
October 1, 2000... Multinationals must watch how Chinese firms adapt to globalisation, writes Gemma Townley Chinese family businesses (CFBs) need to change fundamentally the way they work if Asia's importance as an economic region is to continue....

On-line insurance exchanges set to save billions.(Brief Article)
October 1, 2000... The insurance industry could save $20 billion with on-line insurance exchanges, according to a new report. "Transactions on business-to-business on-line exchanges are forecast to rise from $145 billion in 1999 to over $4.5 trillion by 2004,"...

Letters.
October 1, 2000... Financial Management, 63 Portland Place, London W1B 1AB; financialmanagement@cimaglobal.com Angry? Overjoyed? Want to share your views? Financial Management welcomes correspondence from readers. We reserve the right to edit letters for...

Interim Financial Reporting A Guide to Best Practice.
October 1, 2000... Interim Financial Reporting A Guide to Best Practice Author: Katherine Bagshaw Publisher: Accountancy Books ISBN: 184 1400 122 Price: 25 [pounds sterling] An easy to read informative book that highlights the nonmandatory guidance and...

Bulls v Bears.(Review)
October 1, 2000... Book: Bulls v Bears Author: George G Blakey Publisher: Management Books 2000 Ltd ISBN: 185252 3131 Price: 14.99 [pounds sterling] This book is in its fourth edition -- which must mean that it is the only one of its kind. I've seen nothing...

Management & Cost Accounting.(Review)
October 1, 2000... Book: Management Cost Accounting (fifth edition) Author: Colin Drury Publisher: Thompson Learning ISBN: 1861522304 Price: 25.99 [pounds sterling] This book caters for all professional accounting qualifications. It starts by providing the...

Right to remain silent.(legal aspects of employee benefits package offerings)(Brief Article)
October 1, 2000... More and more employers are offering tailored packages of benefits to staff but, warns Sue Nickson, too much information about choices could be as dangerous as too little There is a growing tendency in the workplace to move away from...

Out of cash.(new practices concerning cash flow)(Brief Article)
October 1, 2000... David Allen highlights the increasing importance of non-cash transactions and activities and discusses the impact this is having on accounting and financial management Back in February 1993, I drew attention to the work of Henning...

The encryption factor.(information gathering practices in e-buisness)(Brief Article)
October 1, 2000... Web customers need to trust that their personal data is secure but, explains Juliet Hoskins, privacy does not mean anonymity, and attacks on new forms of tracking technology are counter-productive The concept of privacy lies at the heart of...

Fighting in the aisles.(Wal-Mart Stores Inc.'s impact on Tesco PLC and Safeway Inc.)
October 1, 2000... The supermarkets have gone to war and new battles are being predicted as US giant Wal-Mart enters the lists and fresh ammunition arrives in the wake of GM concerns. Elizabeth Hawkes reports on the clash of the retail titans Few sectors...

Bread and Circuses.(olympic games financial management)
October 1, 2000... As Sydney brushes off the glitter and gets back to business as normal, Ruth Prickett asks what cities really get in return for their millions when they host an international sports event There's more to winning a race than having the...

Service charges.(costs of doing business with unprofitable customers)
October 1, 2000... Every company wants to lose unprofitable customers. But, as Peter Bartram finds out, close the doors too abruptly and you alienate future big spenders and pay the price in negative PR You could almost feel sorry for Barclays Bank. First it...

Task forces.
October 1, 2000... As employees struggle to balance home and work life, more firms, says Larissa Tuohy, are realising that staff appreciate help with chores such as dry-cleaning, ironing and shopping If, as we are so often told, time is money, then many...

Nothing ventured, nothing gained.(venture capitalists and market risk)
October 1, 2000... UK venture capitalists invest just a third of the amount invested by their counterparts in the US in high-tech firms. Gavin Reid and Julia Smith explain why investors are so wary and the risks are so high As the venture capital industry...

Fair shares?(taxation and venture capital investment trusts)
October 1, 2000... Venture capital trusts and enterprise investment schemes offer tax breaks in an attempt to encourage people to invest in start-ups. But, warns Malcolm Howard, investors must look beyond the small print Encouraging enterprise has been on the...

Minimise risks if your firm orders you to a war zone.(business travel report information)(Brief Article)
October 1, 2000... Anyone who regularly travels for business expects to suffer from jet lag, a surfeit of plastic-tasting food and pins and needles in cramped legs, but the real dangers are, apparently, more serious. The Merchant International Group lists...

A clean sweep for a clearer view on business information.(Data Downlink Corp.'s Portal B service)(Brief Article)
October 1, 2000... The world is full of junk and it's getting steadily worse. This is the cheery message from Portal B, the search engine/business portal. "Think of your attic, basement or garage," says Steve Godstein, chief executive of Data Downlink...

Clothes and cars make the executive.(executive and dot comer survey results)(Brief Article)
October 1, 2000... Are you an e-leader or a traditional business executive? You may think this is determined by the company you work for but, according to a survey from KPMG Consulting, the way you dress and what you drive matters more than anything as mundane as...

Office gossip: all mod cons from 144 [pounds sterling] per Capita.(Capita Centre facility information)(Brief Article)
October 1, 2000... Sick of your office decor? Want to work somewhere with health club facilities, a global concierge service and preferential rates at the local top international hotel? The Capita Centre in Edinburgh aims to cater for those who spurn traditional...

Fresh airspace.(British Midland Airways service to Barcelona, Spain)(Brief Article)
October 1, 2000... British Midland has announced the launch of three daily direct flights from London Heathrow to Barcelona from 1 November 2000. "This is an important step in our European expansion strategy to bring genuine choice and competition to Europe's...

Exhibition-free zone.(London, England hotel prices)(Brief Article)
October 1, 2000... Derby is the cheapest city in mainland UK for business travellers while London is, unsurprisingly, the most expensive. "The costs are high in other major cities because of the rising number of large exhibition centres which drive up the price...

Interim managers: big fish can thrive in the deep end.(position description)(Brief Article)
October 1, 2000... Are you the type who moves restlessly from job to job and is bored as soon as the challenge declines? Do you have a wide range of skills, a good understanding of broad business issues, and do you enjoy turning bad situations into good ones? ...

Living in spin: life advice on the net.(internet life coach services)(Brief Article)
October 1, 2000... Are you isolated and under pressure because of the demands of your career? Are you searching for a way to re-evaluate your life and find the key to personal happiness? Then why not give your life the kick-start it needs and get yourself the...

How to earn your pay rise.(wage increase techniques)(Brief Article)
October 1, 2000... Asking for a salary rise isn't easy. Whether you're the type of person who walks into your review knowing exactly what you want and how to get it, or you're someone who finds it difficult to talk selfishly about your achievements, you are...

MBA tour.(conference information)(Brief Article)
October 1, 2000... If you're considering an MBA, you should check out the Anglo-French World MBA Tour 2000. Bringing together admissions directors of leading business schools, the event features schools such as Wharton, Harvard, Columbia, London Business School,...

City slickers.(accountant salary information)(Brief Article)
October 1, 2000... The City's the place to earn top dollar, and CIMA qualifieds are increasingly popular among City firms. According to recruitment agency Martin Ward Anderson, City accountants earn higher salaries than their peers, and firms are moving away from...

Perfect pitch.(accounting industry trends)(Brief Article)
October 1, 2000... For too long, many accountants have got by without having to grub around attracting new business. But the market is changing, warns Peter Bartram, and marketing skills are almost as vital as technical skills Over the past few years,...

If you want to grow your business and take advantage of the internet, without leaving your desk or spending any money, ehook.co.uk could be the answer.(online small business service provider)(Brief Article)
October 1, 2000... If you want to grow your business and take advantage of the internet, without leaving your desk or spending any money, ehook.co.uk could be the answer. Ehook offers a one-stop shop for small businesses looking for service providers. Companies...

Parcelforce Worldwide Small Business Awards.(Brief Article)
October 1, 2000... Has your sound financial management been instrumental to the success of your small business clients? If so, the Parcelforce Worldwide Small Business Awards could provide you with the recognition you deserve. Sponsored by Visa International, the...

SMEs.(small and medium-sized business enterprises need accounting advice)(Brief Article)
October 1, 2000... SMEs are failing to recognise the value of an accounting adviser. Some 80 percent of businesses surveyed by the Association of Accounting Technicians (AAT) said that price and location were more important factors in their choice of adviser than...

Top candidates in Stage 4.(Chartered Institute of Management Accountants)(Brief Article)
October 1, 2000... The Institute prize for the highest mark in Stage 4 - Linda Hickson The Institute prize for the second highest mark in Stage 4 - Zoe Allen The Institute prize for the third highest mark in Stage 4 - Rachel Smee 1st ...

CIMA books on-line.(Chartered Institute of Management Accountants)(Brief Article)
October 1, 2000... CIMA's virtual bookshop at last went live this week, after months of hard work and behind-the-scenes development. Giving you 24-hour access to CIMA books, the bookshop will help you to find information about past, current and future...

Irish audit review body urges radical change.(for auditors)(Brief Article)
October 1, 2000... A group set up to examine auditor independence and regulation has come up with suggestions that could fundamentally alter the profession's position, writes Donal O'Brien, division president In February 2000, Mary Harney, the Irish minister...

CIMA members gain wide range of privileges.(Chartered Institute of Management Accountants)(Brief Article)
October 1, 2000... The collective buying power of 120,000 members and students has enabled CIMA successfully to negotiate a new range of products and services for its membership, designed to meet the aspirations and needs of their diverse lifestyles. The...

Obituary.(Brian Bishop)(Brief Article)(Obituary)
October 1, 2000... Brian Bishop MA FCMA FCIS 5 December 1920-30 July 2000 Brian Bishop stayed young all his life, perhaps because he was told he would not survive his forties. He was always determined to do everything possible. An original thinker, he continued...

Third-generation website.(from the Chartered Institute of Management Accountants)(Brief Article)
October 1, 2000... Building on the success of its award-winning website, CIMA has launched its third-generation site offering new services, enhanced content, greater interactivity and excellent navigation. New features include a knowledge bank, a full range of...

Sherbrook Group Holdings.(appoints finance/logistics director Peter Whitehouse)(Brief Article)
October 1, 2000... PeterWhitehouse FCMA, finance and logistics director at SherbrookGroup Holdings, is being promoted to CEO. Whitehouse joined Sherbrook in 1997 after serving as divisional financial director for Edgbaston Industries.

Ionica.(former network analyst Alistair Walsh becomes Twigden Homes financial director)(Brief Article)
October 1, 2000... Alistair Walsh ACMA has been promoted to financial director (designate) of Twigden Homes. Before joining Twigden, he was a network analyst at Ionica, reporting on the firm's communications infrastructure.

CIMA North East Coast.(Chartered Institute of Management Accountants fellow Lianne Branton relocates)(Brief Article)
October 1, 2000... Lianne Branton FCMA has moved to Geest, in Hull, from Ideal-Standard: The youngest female fellow in the CIMA North East Coast branch will be implementing TTP in the fresh food manufacturing company.

Travel Inn Sales Development.(appoints director Brian Dunne)(Brief Article)
October 1, 2000... Brian Dunne ACMA has been appointed director of Travel Inn Sales Development, a cross-divisional promotion to Whitbread Restaurants from the group's Inns division.

Royal Swaziland Sugar Corporation.(appoints chief accountant Dave Scattergood)(Brief Article)
October 1, 2000... Dave Scattergood ACMA has been appointed chief accountant at the Royal Swaziland Sugar Corporation in Swaziland. Scattergood has recently gained an MBA from Warwick University.

South African Institute of Chartered Accountant's tax committee.(Beric Croome becomes director at Edward Nathan and Friedland)(Brief Article)
October 1, 2000... Edward Nathan & Friedland has appointed Beric Croome FCMA as a director in the tax department. Croome has been chairman of the South African Institute of Chartered Accountant's tax committee and vice-chairman of the South African Chamber of...

Dragnet E-Business.(appoints managing director Mike Day)(Brief Article)
October 1, 2000... Mike Day has been appointed managing director designate at Dragnet E-Business. He moves from being services director at Pegasus, having previously been information systems manager at Tandon and Apricot.

Green Flag Group.(appoints controller Mark Tarring)(Brief Article)
October 1, 2000... Mark Tarring ACMA has joined the Green Flag Group as financial controller. He is responsible for managing the group's financial arrangements in relation to its breakdown rescue and affinity insurance business. Tarring joins from Prudential...

Association of Accounting Technicians (AAT).(appoints chief external verifier Patrick Thomas)(Brief Article)
October 1, 2000... The Association of Accounting Technicians (AAT) has appointed Patrick Thomas as chief external verifier to head its external verification team. The new post will involve developing the quality assurance system for the AAT qualifications.

DaimlerChrysler Services(debis) AG.(appoints managing director Alwin Epple)(Brief Article)
October 1, 2000... DaimlerChrysler Services (debis) AG, has appointed Alwin Epple as managing director of DaimlerChrysler Financial Services (debis). Epple was previously-based in Singapore where he was vice-president of DaimlerChrysler Capital Services (debis)...

ExpandIT Solutions.(appoints CFO Janne Mansson)(Brief Article)
October 1, 2000... Janne Mansson has been appointed chief financial officer of ExpandIT Solutions. Prior to this, Mansson was accounting manager at Xerox, where she was responsible for financial reporting to local and international management. She has also held...

Howarth Clark Whitehill.(appoints audit manager Alison Smith)(Brief Article)
October 1, 2000... Howarth Clark Whitehill has appointed Alison Smith as audit manager. Smith joined Howarth ClarkWhitehillin April last year as audit senior from Holmes Chadwick. She was promoted to audit manager in recognition of the continued success of the...

Zambia Revenue Authority.(appoints finance commissioner Lovemore M. Sievu)(Brief Article)
October 1, 2000... Lovemore M Sievu ACMA FCCA has been appointed finance commissioner of the Zambia Revenue Authority. Prior to this, he was deputy commissioner of VAT Operations in the same organisation. Sievu has also lectured in taxation at the Zambia Centre...

MicroMedical Industries.(appoints CFO Walter Edgar)(Brief Article)
October 1, 2000... Walter Edgar FCMA has been appointed CFO and company secretary of MicroMedical Industries, an Australian listed medical device company that develops and exports cardiac e-health solutions. Edgar, who is a committee member of CIMA's New South...