Strategic Finance articles from May 2005

Strategic Finance archives from May 2005

Using Six Sigma to improve the finance function: here are some tips for success.(ANNUAL CONFERENCE: TOPIC)(Cover Story)
May 1, 2005... Six Sigma is exploding in popularity across the corporate landscape. Motorola initiated the program in 1987, and, since then, countless other organizations have employed it. While Six Sigma originated within the manufacturing arena,...

The importance of staff continuity for regulatory compliance.(Careers)
May 1, 2005... Corporate accounting departments have a full plate these days addressing the requirements of the Sarbanes-Oxley Act and related regulations. Publicly and privately held companies alike are paying close attention to corporate governance and the...

It's all relative.(www.channel4.com/history/microsites/W/worstjobs/ index.html.)
May 1, 2005... Ever get the feeling you've been trapped in a Dilbertian universe of despair? The days of the week are grinding slower, endlessly repeating themselves, and you're thinking about a change. Maybe something outdoors, away from a desk and file...

Politicians need ethical financial managers.(Ethics)
May 1, 2005... As is the case with CEOs of for-profit enterprises, perhaps the most important task the leaders of our municipalities, states, and the federal government undertake is to manage the financial affairs of their respective entities. Of course, all...

The "I" in team.(Best Practices)(team management)
May 1, 2005... "There is no 'I' in team." That oft-cited aphorism makes an important point: Individuals need to put ego aside in order to accomplish team goals. And though that's true, it isn't the whole truth. Every team functions within the context and...

William L. Brower, Jr., named IMA Chair-Elect.(Institute of Management Accountants)
May 1, 2005... William L. Brower, Jr., CMA, CFM, has been named IMA Chair-Elect, which means he will become IMA Chair in 2006-07. Carl S. Smith, Ph.D., CMA, CFM, CPA, is IMA Chair for 2005-06. The IMA Board of Directors announced Bill's nomination on February...

IMA adopts new governance structure.(Institute of Management Accountants)
May 1, 2005... After nearly a year of research and analysis, IMA's governance structure has changed. The process began in summer 2004 with a workshop on effective board governance that was attended by IMA's Board of Directors and facilitated by...

OEC: effective OEC management control at China Haier Group: the company has become successful through excellent customer service, product quality, operating efficiency, innovation, and speed to market.(operational employment concept)
May 1, 2005... In 1984, Zhang Ruimin took over a nearly bankrupt refrigerator factory in Qingdao, China. In 2003, the company's global sales hit $9.7 billion with a growth rate of 70% during the previous 19 years. Today, Haier Group is recognized as a...

Achieving growth in the luxury market: the Leading Hotels of the World (LHW) leveraged brand extension, joint venture partnerships, and strategic alliances to make revenues and profits soar as well as triple shareholder value.(Business Strategy)(Company Profile)
May 1, 2005... In Travel + Leisure's "500 Greatest Hotels in the World," 114 on the list are members of Leading Hotels of the World (LHW). LHW members are so impressive that these hotels, such as the CopaCabana Palace Hotel in Rio de Janeiro, have been the...

Iconoclasm in the accounting profession.(Perspectives: Message from the Chair)
May 1, 2005... Iconoclasm: 1. the attacking of cherished beliefs or traditional institutions regarded as based on error or superstition. 2. the doctrine or act of breaking or destroying images. (World Book Dictionary) Recent IMA press releases have...

SEC amends SFAS No. 123R compliance dates.(Securites and Exchange Commission ammends Statement of Financial Accounting Standards)
May 1, 2005... Last month the Securities & Exchange Commission amended the dates for companies to comply with the Financial Accounting Standards Board's (FASB) Statement of Financial Accounting Standards No. 123R, "Share-Based Payment." Companies that report...

Fourth IMA member helps COSO.(Malcolm Schwartz joins Committee of Sponsoring Organizations of the Treadway Commission )(Brief Article)
May 1, 2005... * Malcolm Schwartz, founder of CRS Associates LLC, and SVP, Compliance Practice Leader, Technology Solutions Company, Chicago, Ill., is the fourth IMA member to be named to COSO's Small Business Control Guidance Advisory Group Task Force (see...

Impressed with IMA.(Letters to the Editor)(Letter to the Editor)
May 1, 2005... I became a member of IMA very recently, and ever since I have been highly impressed by the Institute and, in particular, by Larry White's thoughts on the profession. I am a Chartered Accountant and also a Cost Accountant from India. Last...

Sarbanes and Oxley nix changes.(GOVERNMENT)
May 1, 2005... In March, Sen. Paul Sarbanes (D.-Md.) and Rep. Mike Oxley (R.-Ohio) made it clear they have no intention of acceding to business pressure to change the Sarbanes-Oxley accounting law, which requires companies to ensure the effectiveness of their...

Developing e-commerce.(BOOKS)(Implementing E-Commerce Strategies)(Book Review)
May 1, 2005... Management accountants are familiar with the old mantra of retail: location, location, location. Not too long ago a retailer or service provider who offered goods or services at a reasonable price to the buying public in the most convenient...

International provisions of the Jobs Creation Act.(Taxes)
May 1, 2005... The American Jobs Creation Act of 2004 (AJCA) was signed into law on October 22, 2004. One of the major areas of reform in the Act was U.S. taxation of international activities. This column provides an overview of these changes. Foreign...

Insuring business continuity: Transurance helps companies protect themselves from losses that aren't covered by their traditional property and casualty insurance policies.(Risk Management)
May 1, 2005... AFTER A LONG SERIES OF HIGH-PROFILE DEBACLES, companies are finally beginning to practice what the Boy Scouts preach--"Be Prepared." Whether they describe them as disaster recovery or business continuity plans, most businesses now have...

Handy information and security.(tools of the trade)(Siber Systems Inc.)
May 1, 2005... The Fossil[R] Wrist PDA can display the time in nine different analog and digital faces, but it's also a Palm-powered computer with a high-density 160 5 160 pixel grayscale LCD touch screen with a backlight and stylus that tucks into the...

It's April 16--do you know where your tax return is?(Tech Forum)
May 1, 2005... * THERE'S SOMETHING PERVERSELY ENTERTAINING about turning the tables on the examiner. When you have been told that a faceless agency has control over whole areas of your life and you don't get to question its rules and procedures, the normal...

Divine dividends.(Financial Trends)
May 1, 2005... Dividend payouts reached a record high in 2004, and this year they're expected to top that. In fact, after a steady decline in the 1980s and 1990s when stock-price appreciation in rising markets became a more favored form of return, dividends...

Why XBRL is a "business" reporting language.(extensible business reporting language)
May 1, 2005... If XBRL is considered a business reporting language, then why do most of its implementations seem to deal only with the reporting of financial data? An interesting question, this issue was recently raised in an online XBRL forum...