Financial Management (UK) articles from September 2000

Financial Management (UK) archives from September 2000

Editor's letter.(Brief Article)(Editorial)
September 1, 2000... Has the dotcom bubble burst? Are we all internet-weary, having got over-excited by anything that started www? Of course not. What we have realised, or at least what investors are now realising (the prospect of huge financial gains emerging...

Business risk information.(www.globalcontinuity.com)(Brief Article)
September 1, 2000... Up-to-the-minute news on worldwide developments from impending meteorological disasters and planned strike actions to the latest computer viruses are now available on-line at www.globalcontinuity.com

Turnaround directors.(PricewaterhouseCoopers establishes corporate turnaround group)(Brief Article)
September 1, 2000... PricewaterhouseCoopers has brought together 25 businessmen with CEO-level experience to act as "turnaround directors" for firms moving towards a crisis. They act as chief executives, answer to the stakeholders of the business, formulate a...

India must `go global'.(Brief Article)
September 1, 2000... India must embrace globalisation to boost its economy, according to Prime Minister Atal Behari. "All of us should realise that globalisation is an irreversible phenomenon," he I told party journal BJP.

Contract recruitment on-line.(We2.net)(Brief Article)
September 1, 2000... We2.net, a new on-line contract recruitment service, verifies contractor details, allows firms to search for clients and enables an anonymous negotiation between both parties on the site, e-mail or SMS messaging. Once a contract is agreed, we2...

Benchmark risk management.(British Bankers' Association risk management benchmark)(Brief Article)
September 1, 2000... A new benchmarking project from the British Bankers' Association enables banks to measure the effectiveness of their risk management. A database of information on global operational losses made by individual banks will assist in managing risks,...

Ministers lift curtain on cash pledge for arts.(UK government promises 100 million pounds to the arts sector)(Brief Article)
September 1, 2000... Arts organisations have welcomed the government's promise of 100 million [pounds sterling] to the sector and argue that it is now time to redress a long history of under-funding. The arts sector is to receive 100 million [pounds sterling]...

The Financial Services Authority's (FSA) draft money laundering rules are too complex, too geared to large organisations and ignore professional and regulatory requirements for confidentiality, according to the ICAEW.(Brief Article)
September 1, 2000... The Financial Services Authority's (FSA) draft money laundering rules are too complex, too geared to large organisations and ignore professional and regulatory requirements for confidentiality, according to the ICAEW. "Adding an extra layer of...

European companies are struggling to reduce their accounts consolidation and reporting times -- many took two days longer in 1999 than in 1998.(Brief Article)
September 1, 2000... European companies are struggling to reduce their accounts consolidation and reporting times -- many took two days longer in 1999 than in 1998. Inadequate figures from operating companies and business units, and mediocre operating systems...

It is cheaper for companies to raise finance by issuing bonds than by borrowing or issuing new equity according to a report by PricewaterhouseCoopers (A Good Moment to Restructure the Balance Sheet).(Brief Article)
September 1, 2000... It is cheaper for companies to raise finance by issuing bonds than by borrowing or issuing new equity according to a report by PricewaterhouseCoopers (A Good Moment to Restructure the Balance Sheet). "Powerful macroeconomic trends and changes...

Dotcoms told to go back to business basics.(Brief Article)
September 1, 2000... The bursting of the dotcom bubble shows that firms need to concentrate more on traditional business skills and less on technology if they want to succeed on-line Companies are concentrating too much on the technological potential of the...

IT widens social divisions.(information technology and Internet access)(Brief Article)
September 1, 2000... Access to internet technology in the UK is widening the gap between the "haves" and the "have nots", causing problems for on-line public service information. While 25 per cent of all UK households have internet access, take-up among the top 10...

WAP accounting system.(Dataflow)(Brief Article)
September 1, 2000... A WAP-enabled accounting system is available from Dataflow, enabling sales and purchases accounts to be posted in any currency and accounting in any number of base currencies. It links seamlessly to other databases and Microsoft products.

On-line invoicing for SMEs.(Redpay.com offers online invoicing)(Brief Article)
September 1, 2000... Redpay.com is a website offering on-line invoicing for SMEs in the UK. Businesses can upload their sales ledger on to a web server and collect payment over the internet.Info@redpay.com

Asset management worries.(Public-sector finance managers)(Brief Article)
September 1, 2000... Public-sector finance managers are dissatisfied with their asset management systems, according to research from Catsoft International. Government initiatives such as best value have highlighted problems with many systems on the market.

Access Accounting award.(Countrywide Millennium Business Awards 2000)(Brief Article)
September 1, 2000... Access Accounting has been highly commended in the Countrywide Millennium Business Awards 2000. "We practice the Bill Gates concept of `business at the speed of thought'," said Alistair O'Reill, Access's MD.

Demand for specialists.(customer service)(Brief Article)
September 1, 2000... Consumers want access to someone who knows their history and can service their needs quickly, but they are not getting it, according to London Bridge Software. Nearly 80 per cent of consumers prefer to deal with a specialist organisation that...

Share-based payment.(Brief Article)
September 1, 2000... The ASB has published Share-based Payment, a discussion paper on the accounting treatment of transactions for entities buying goods or services by issuing shares or share options. It focuses on accounting for employee share options and proposes...

Accounting for start-up costs.(Brief Article)
September 1, 2000... The ASB's "Abstract 24: accounting for start-up costs," concludes that the way in which start-up costs are accounted for should be consistent with the treatment of similar costs incurred as part of the entity's ongoing activities. Where there...

Asset depreciation.(Brief Article)
September 1, 2000... An exposure draft of amendments to FRS 15 "Tangible fixed assets" and FRS 10 "Goodwill and intangible assets", includes proposals to prohibit the use of interest methods of depreciation. It proposes that such methods should not be used to...

New interpretations.(United Kingdom's Standing Interpretations Committee publishes new interpretations)(Brief Article)
September 1, 2000... Five new interpretations have been published by the Standing Interpretations Committee. These are Equity Accounting Method -- Recognition of Losses; Income Taxes -- Recovery of Revalued Non-depreciable Assets; Business Combinations --...

Constant messages add up to headaches for stressed workers.(dealing with average 191 message per day tops workplace stress survey in United Kingdom)(Brief Article)
September 1, 2000... Technology originally intended to reduce staff stress levels is actually adding to the burden as harassed employees deal with an average of 191 messages a day. Constant interruptions from phones, e-mails and faxes are putting UK workers...

Finance answers at the touch of a button.(Gee's)(Brief Article)
September 1, 2000... Do you ever sit in meetings unable to speak out because you aren't entirely sure what everyone is banging on about? Have you ever wondered about the evolution of corporation tax and its implications for business? Or do you regularly find...

Leeds-based Omega Signs and its sister firm, MCM.(Alan Stirling ACMA)(Brief Article)
September 1, 2000... Alan Stirling ACMA has been appointed as company accountant and company secretary for Leeds-based Omega Signs and its sister firm, MCM. He joins Omega Signs from E Timm & Sons of Goole, where he was accountant and company secretary.

Chapman Hendy Associates.(Caroline Whyteside ACMA)(Brief Article)
September 1, 2000... Caroline Whyteside ACMA has joined Chapman Hendy Associates as a senior consultant in the finance team, based in the Glasgow office. She previously worked with North Lanarkshire Council and Strathclyde Regional Council.

Focus Do It All.(Brief Article)
September 1, 2000... Focus Do It All, the UK's largest independent DIY retailer, has appointed Barbara Rimmer as head of tax and internal control. Rimmer moves from being group tax manager at Pilkington. She began her career at Arthur Andersen and qualified as a...

Clark Pub Company.(Margaret Waterston ACMA)(Brief Article)
September 1, 2000... Edinburgh-based Clark Pub Company has appointed Margaret Waterston ACMA as finance director and company secretary. She joins Clark Pub Company from Carlsberg-Tetley Scotland.

Punch Pub Company.(Robert McDonald FCMA)(Brief Article)
September 1, 2000... Punch Pub Company has appointed Robert McDonald FCMA as finance director. Prior to this, McDonald was financial director at Tetley Pub Company and, more recently, at Allied Domecq Inns.

T-Motion.(Jitesh Sodha ACMA)(Brief Article)
September 1, 2000... Jitesh Sodha ACMA is the new chief financial officer of T-Motion, a start-up mobile services provider backed by Deutsche Telekom. Previously, Sodha worked for Dell Europe.

Signs Express.(Vincent Scanlon ACMA)(Brief Article)
September 1, 2000... Vincent Scanlon ACMA has become Signs Express franchisee for the Cork City West area. He already owns the franchise for Cork City East as well as Scanlon Houlihan Truck Spraypainters and Signwriters.

CEO.(M Faizer ACMA)(Brief Article)
September 1, 2000... M Faizer ACMA has been promoted to CEO of Sri Lankan publishing, printing and bookselling firm MD Gunasena. Prior to his promotion, Faizer was a consultant at the firm. He is also a visiting lecturer at the Academy of Business Studies in...

Field Group.(Nicki Gates FCMA)(Brief Article)
September 1, 2000... Nicki Gates FCMA has joined Field Group as group financial controller. Her new role will involve supporting the business following the acquisition of Box more International. Prior to this, Gates worked for Guinness for five years.

Cable & Wireless Mitratel's.(Simon Nellist FCMA)(Brief Article)
September 1, 2000... Simon Nellist FCMA will join the Cable & Wireless Mitratel's Indonesia team as finance director. Nellist has spent the past 10 years working for the group, most recently in the Seychelles.

One 2 One.(Brief Article)
September 1, 2000... Liliana Solomon has joined One 2 One as chief financial officer. Solomon gained a strong financial and project management background with IBM and then with established German telecoms firms.

Nationwide Hygiene Supplies.(David Scholes FCMA)(Brief Article)
September 1, 2000... Nationwide Hygiene Supplies, a wholesale distribution network of 20 independent UK companies, has appointed David Scholes FCMA as its new chief executive. Scholes will head the national operation and has a brief to consolidate the group and...

Bishop's Move.(Kevin O'Sullivan)(Brief Article)
September 1, 2000... Bishop's Move, the UK's largest independent removal company, has appointed Kevin O'Sullivan as its financial director and a main board director. He joins the firm from Otis.

Deloitte & Touche.(Brief Article)
September 1, 2000... John Rocques has been appointed to head the independent investigation into excise control regimes. Rocques was a senior partner at Deloitte & Touche until 1999 and was also accounting adviser to the government over the privatisation of the Gas...

Guyana chapter of the Institute of Internal Auditors.(Brief Article)
September 1, 2000... Lal Balkaran FCMA has instigated 3 the formation of a Guyana chapter of the Institute of Internal Auditors. The arrangement, approved by the international board of the institute, follows a five-month effort by Balkaran, secretary of the Toronto...

Letters.(Brief Article)
September 1, 2000... Financial Management, 63 Portland Place, London W1B 1AB; financialmanagement@cimaglobal.com Decisive factions Recent evidence from a number of sources shows that CIMA is at last taking steps to improve the quality of its...

Is that a claim in your pocket or are you just pleased to see me?(Brief Article)
September 1, 2000... Employers should be more wary of sexual banter, even if nobody has yet complained. Sue Nickson discusses how a recent EAT appeal could affect sex discrimination cases Employers often claim that banter of a slightly sexual nature in the...

Wider still and wider.(Brief Article)
September 1, 2000... David Allen identifies a critical skills gap just waiting to be filled by ambitious financial managers One of the features of the old command and compliance style of management was functionalism. When the primary focus was on supply and...

Aesop's tables.(Brief Article)
September 1, 2000... The Finance Act will introduce two new schemes aimed at boosting profits by motivating staff with free shares. Trevor James explains why employers should be interested More than a year ago, the Chancellor announced two new share schemes...

Arts nouveau.
September 1, 2000... Art, music, opera and ballet are extravagant luxuries, yet they are heavily subsidised by a state that wants to see tangible returns on its investment. Sarah Perrin talks to those who juggle limited cash and conflicting demands in an expensive...

Smart cookie.
September 1, 2000... Driving forward a high-growth company in the technology sector takes more common sense than computer know-how, Marina Wyatt tells Gemma Townley The technology sector is having a turbulent ride at the moment. There is potential for huge...

The bucks here.
September 1, 2000... You want the glory, but can you thake the risk? Mick James finds out whether the gain is worth the pain of being a financial director in the dotcom sector "Chief financial officer... pre-IPO... 100k [pounds sterling] plus options." This...

All that glisters ...
September 1, 2000... The days when companies poured champagne indiscriminately down the throats of City hoorays are dead. Adrienne Margolis finds out that 21st century hospitality has to be tailored, monitored and, above all, cost-effective Mention corporate...

The spying game.
September 1, 2000... It's easy to dismiss managers who whinge on about staff wasting time surfing the internet and stealing the odd pencil as paranoid, but fraud is a major issue. Rachel Shabi draws the fine line between responsible caution and Big Brother-style...

Free for all.(Linux International)
September 1, 2000... There's a new kid on the IT block and he is threatening to challenge the established gangs. Geoff Tyler asks whether Linux can actually deliver its promises and take on Microsoft Few management accountants have ever shown much interest in...

Independence days.
September 1, 2000... Well-publicised scandals have brought the issue of audit integrity to the fore but, warns Katherine Bagshaw, UK accountants will lose variety, money and status if the profession has to conform to US or European norms There are many reasons...

Divides and rules.
September 1, 2000... A scathing report on inefficient bureaucracy has forced the US government to cut back its red tape. Merrill Cassell explains how all public-sector organisations should be ditching excessive regulations and wasteful procedures The US...

Q-Jumping.
September 1, 2000... IQ alone is not enough to get you or your organisation to the top of the pile. Malcolm Smith explains why losing control and trusting your EQ can help you to boost innovation Ask any big company that is under threat from a smaller...

Psion on-line.(Brief Article)
September 1, 2000... Small enough to put in your pocket, the Psion Revo holds your diary, a jotter, spreadsheets, word processor, a contacts database and even a map of the world with time zones. It integrates seamlessly with e-mail and mobile phone and connects to...

Volvo S80: a grown-up car for overgrown executives.(Brief Article)(Evaluation)
September 1, 2000... You know you've got somewhere in life when you're driving the Volvo S80. It's a grown-up's car, an executive's dream and an understated piece of luxury. The S80 is also not a typical Volvo. The new saloon is described as "nothing short of...

Proceed to Go: sponsor a street for the Monopoly Ball.(Brief Article)
September 1, 2000... Are you the sort who always buys Mayfair in Monopoly? Do you buy up as many hotels as you can muster and gloat as your friends go bankrupt? Or do you always end up with nothing but Whitechapel and one of the utilities? The Monopoly Ball on 2...

Businesses economise on soaring fares.(Brief Article)
September 1, 2000... UK business travellers are paying considerably more for flights to the US than their continental counterparts. The standard business class fare from London to Los Angeles is 5,166 [pounds sterling], compared with 2,840 [pounds sterling] from...

Deal in China.(Brief Article)
September 1, 2000... Planning to do business in China? Start with lunch or dinner (a period of familiarisation is vital), don't worry about business cards but, if you do get one, don't write on it. These are suggestions from Tony Hughes, MD of corporate travel...

Living expenses.(Brief Article)
September 1, 2000... If negotiations to improve your pay packet are not going well, you could change your location instead. If you live in London, Hong Kong, New York, Singapore or Tokyo, the chances are that you are paying a huge amount on housing, food, travel,...

Dressed up and nowhere to go? Be a consultant ...(Brief Article)
September 1, 2000... Every year organisations reorganise and thousands of employees have to reconsider their careers. Some have a choice; most don't. After redundancies are announced, the first response is shock and disbelief. Then people start to ask what they can...

Capitalise on e-business skills.(Brief Article)
September 1, 2000... If you want to make serious money, e-business is the place to be. Those who head e-businesses are now paid 40 percent more than their peers in traditional organisations according to a new survey. They get an average cash package of 140,700...

Earning the midnight oil.(Brief Article)
September 1, 2000... Taking on a second job can be a life saver when it comes to saving for holidays, paying off debts orgaining new experience, but some employers are less than happy about the idea of their staff using their leisure time to work for someone...

Win friends in high places.(Brief Article)
September 1, 2000... "Networking is marketing the perception of your performance to those who matter." This insight from a senior manager in a services company demonstrates how networking has changed in the past 10 years. The ability to use contacts, make friends...

Money talks to accountants.(Brief Article)
September 1, 2000... Money is still the top priority for job hunters in the finance sector, closely followed by good working conditions and the chance of promotion. But while younger workers want promotion, older workers think location is more important, according...

Students go to work on a tube.(Brief Article)
September 1, 2000... The idea of breakfast in a tube won two Exeter University students a trip to the British Virgin Islands to learn about the financial issues of starting a business. Maxwell Murray and Christopher Youl, second-year students in the School of...

In at the deep end.(Brief Article)
September 1, 2000... There is more consultancy work in the pipeline, but you need to be able to work hard, communicate effectively and market yourself. Gemma Townley reports on the members in practice annual conference You're working in a company, getting along...

SMEs in the low-skilled service sector are concerned about recruitment shortages.(Brief Article)
September 1, 2000... SMEs in the low-skilled service sector are concerned about recruitment shortages, while those in manufacturing complain of a shortage of young people looking for skilled manual jobs, according to research by Kingston Business School for Horwath...

Business recovery and insolvency specialists who administer a large number of accounts in liquidation can now take advantage of a new account.(Brief Article)
September 1, 2000... Business recovery and insolvency specialists who administer a large number of accounts in liquidation can now take advantage of a new account that allows a number of separate accounts in liquidation under a single umbrella. The account, from...

If you have clients who need help with business plans, Step-by-Step, a new product aimed at company owners may save them (or you) some time.(Brief Article)
September 1, 2000... If you have clients who need help with business plans, Step-by-Step, a new product aimed at company owners may save them (or you) sometime. Users can write business plans suitable for presentation, while developing their business strategy in...

CEL set to boost CIMA's global image.(Brief Article)
September 1, 2000... A new company, CIMA Enterprises Ltd (CEL), is set to prove that CIMA means business as well as supporting it. Council approved the establishment of the limited company at a busy meeting last month so that the institute can develop its...

Prize is right for small euro-friendly firms.(The Association for the Monetary Union of Europe)(Brief Article)
September 1, 2000... The Association for the Monetary Union of Europe (AMUE) along with the European Commission and Federation des Experts Compatables Europeens (FEE) is supporting a European-wide competition to encourage SMEs to prepare for changeover to the euro....

Disciplinary issues.(John Michael Turner)(Brief Article)
September 1, 2000... The disciplinary committee considered a complaint against John Michael Turner, fellow, made by his former employer, Royal Manchester Children's Hospital. He was convicted of 13 counts of theft at Salford magistrates court on 14 February 2000,...

Student registration cancelled.(Tom Sentongo)(Brief Article)
September 1, 2000... The disciplinary committee considered a complaint against Tom Sentongo, registered student, from his former employer. He had provided false documentation to his former employer claiming to be a "fully paid up member since 1990" and said he had...

Case completed following appeal.(Anthony Patrick George Griffin)(Brief Article)
September 1, 2000... The disciplinary committee considered a complaint by the Insolvency Service against Anthony Patrick George Griffin, fellow. As financial director of Ti-Well Ltd, Griffin had knowingly allowed Ti-Well to trade without reasonable prospect of...

Note a new members.(Brief Article)
September 1, 2000... As a result of this magazine's revised format, we are no longer able to publish a monthly list of new members by name. Instead, a complete list for the year will appear in a supplement in December.

Euro information on e-mail.(European federation of accountants)(Brief Article)
September 1, 2000... The European federation of accountants (FEE), of which OMA is a member, is compiling a list of e-mail addresses of accountants who would like to receive e-mails about the change to the euro. Subscriptions are free and members will receive...

Malaysian order of chivalry.(Ybhg Tan Sri Dato' Dr Lau Ban Tin)(Brief Article)
September 1, 2000... Ybhg Tan Sri Dato' Dr Lau Ban Tin has been conferred the chivalry order of Panglima Setia Mahkota (PSM) on the occasion of his majesty the Yang Di Pertuan Agong's Birthday on 3 June 2000.

Members on-line.(Brief Article)
September 1, 2000... A list of CIMA members is now available on the CIMA Global website (cimaglobal.com).The list is no longer available on CD owing to problems with disks sent through the post.

Council elections.(Brief Article)
September 1, 2000... Area 4 (West Midlands) The following member of council is elected to serve from the close of the annual general meeting on 10 June 2000 until the close of the annual general meeting in 2003: Susan Margaret Hoof. Vacancy in Area 9...

Business Management Week.(Brief Article)
September 1, 2000... Business Management Week (25-29 September) has been designed to create a focus for business success in an increasingly global economy. It will concentrate particularly on planning, training, staffing and delivery. The event seeks to pull...