Strategic Finance articles from November 2005

Strategic Finance archives from November 2005

Faculty internships.
November 1, 2005... Faculty internships can be a great way to add realworld experience to the classroom setting and bring in some extra help for corporate projects. Here I'll describe how internships can be arranged and managed, how projects are determined, and...

Is a consulting career right for you?
November 1, 2005... After working in accounting for a number of years, you might feel ready for a change. Perhaps you have moved into management and found that you no longer have time to do the hands-on work you once enjoyed. Maybe you're ready to be your own boss...

Easing the pain during financial restatements: these seven lessons can help.(Column)
November 1, 2005... In the September issue of Strategic Finance, my coauthor and I likened the rash of restatement activity to an extreme makeover reality show. We identified poor internal controls, manual processes, and the growing complexity of accounting and...

The Ig Nobel awards.
November 1, 2005... For the last 14 years, in a parallel universe, the Ig Nobel Prizes have been awarded for some of the world's most exotic research and dubious achievements. The ceremony began at MIT and then moved up the street to Harvard. Each year, 10 awards...

Should all companies report on their corporate responsibility?(Ethics)(Business Roundtable issued sustainable growth initiative called "S.E.E. Change")(socially responsible investment)
November 1, 2005... When senior management, securities analysts, and investors speak about a company's "numbers," it's almost a sure thing they are referring to current profits. During the stock market bubble, attention was given to revenue levels, perhaps to...

Paved with good intentions.(Best Practices for corporate leaders)(Column)
November 1, 2005... The muttering began at the first break in the meeting. "Doesn't the boss know what we're going through?" The group had been culled from throughout the corporation to map out the first steps of a change initiative. Their faith in the leader...

Lean accounting: what's it all about?(Midwest Industrial Products)(trends in income statement format and cost analysis)(Cover Story)
November 1, 2005... No, lean accounting has nothing to do with the South Beach Diet! Heck, you don't even need to count calories to become lean! But you do need to count what matters to the success of your business if you want to practice lean accounting. Though...

IMA takes a giant step forward.(Perspectives: Message from the Chair)(Institute of Management Accountants strategic plan)
November 1, 2005... At its meeting in September, the Board of Directors took a giant step forward in moving IMA to the next level by approving a three-year strategic plan that had been formulated by the IMA staff and the Board's Planning and Development Committee....

Does technology aid SOX 404 compliance?(NEWS)
November 1, 2005... Yes, but there's still room for improvement, executives told PricewaterhouseCoopers in a Management Barometer quarterly survey. Nearly half the CFOs and managing directors said their company made only satisfactory use of technology to support...

SOX compliance system RFP Template is available.(NEWS)(The 2006 Sarbanes-Oxley RFP Template)(Brief Article)
November 1, 2005... If you are deciding whether to buy an enterprise compliance management system to help you with SOX compliance, there's a tool available to help you streamline the vendor evaluation process. Titled "The 2006 Sarbanes-Oxley RFP Template," the...

FASB launches investor task force.(Financial Accounting Standards Board, Investor Task Force )(Brief Article)
November 1, 2005... The Financial Accounting Standards Board recently launched an Investor Task Force (ITF), whose members will provide the Board with expertise from the professional investment community on relevant accounting issues. The ITF is composed of the...

Case competition changes.(streetwise)
November 1, 2005... Changes have been made to tables in the IMA Student Case Competition article that appeared in the September 2005 issue of Strategic Finance. Accounting educators who want their students to participate or who want to apply the case in the...

Options valuation ... the next chapter.(GOVERNMENT)(Staff Accounting Bulletin (SAB) No. 107)(Employee Stock Option Plan proposed by Internal Revenue Service)(Statement of Financial Accounting Standards)
November 1, 2005... Companies whose fiscal year ended June 30 now face their first quarterly reports in which they have to report stock option grants to employees as an expense. That is causing, as Elvis used to say, "a whole lot of shaking." The Securities &...

From fads to evaluating best practices.(Accounting Best Practices, 4th ed. by Stephen M. Bragg)
November 1, 2005... Organizations are driven by the need to improve. Constantly in search of any sort of strategic advantage, companies are quick to jump on board the latest, newest "thing" that shows positive results. But what works well for one company won't...

Social security surpluses.(system's financial problems)
November 1, 2005... As a reader of Social Security Trustees Reports since the system's financial problems in the early 1980s, I have been concerned about conflicting communications through the years regarding Social Security. This article gives the information...

Combined.(tools of the trade)(Motorola/Apple's Motorola ROKR mobile phone with Apple's iTunes software )(Brief Article)
November 1, 2005... Two of the most ubiquitous electronic gadgets have been morphed into Motorola/Apple's Motorola ROKR--the world's first mobile phone with iTunes[R]. The ROKR mobile phone has Apple's iTunes software that allows the user to transfer up to 100...

HawkinG Technology's HWL2 combines two functions in a single WiFi device.(tools of the trade)
November 1, 2005... HawkinG Technology's HWL2 combines two functions in a single WiFi device. The Hi-Gain[TM] WiFi Locator Professional Edition detects wireless networks with a Hi-Gain directional antenna, and then it uses its 5dBi antenna to connect you via a USB...

The Rosetta Stone[R] Language Learning System uses a total immersion environment so that you're not learning to translate the language but are encouraged to think in the language--the same way a native speaker learns.(tools of the trade)(Brief Article)
November 1, 2005... The Rosetta Stone[R] Language Learning System uses a total immersion environment so that you're not learning to translate the language but are encouraged to think in the language--the same way a native speaker learns. A basic vocabulary grows...

The Rosetta Stone[R] Language Learning System uses a total immersion environment so that you're not learning to translate the language but are encouraged to think in the language--the same way a native speaker learns.(tools of the trade)
November 1, 2005... The Picture Porter from Digital Foci is a portable picture viewer that provides storage for digital photos, music and video files, and data files. It's a hard drive with the ability to show slides and play music and videos. It also can connect...

Offline internet.(WebCopier from MaximumSoft Corp.)(an offline browser)
November 1, 2005... * SOUNDS LIKE AN OXYMORON. You know, like boneless ribs, big sip, or freezer burn. What use would anyone have for an unplugged Web? Well, for one thing, it would make websites more accessible--even when the user doesn't have a connection...

Weathering the storm.(impact of Hurricane Katrina 2005 on economy)
November 1, 2005... Hurricane Katrina's broader impact on the economy is coming into view, showing that the strong economy preceding the storm is helping to buffer the economic shock afterward. By October, business confidence was weaker than it was prior to...

Do the right thing: IMA issues new ethics guidance.(Ethics)
November 1, 2005... IMA has developed a revised IMA Statement of Ethical Professional Practice to help guide the business and personal decisions made by its members and their organizations. This is IMA's latest initiative in its long-standing strategy to encourage...

Exploring the China market.(Institute of Management Accountants plans)
November 1, 2005... There is a lot of buzz about China. Every day you read about the booming economy, corporate joint ventures, the reform of government entities, and the greatest opportunities for foreign organizations to enter into this everchanging and...

New international board member.(John Ka-chun Lau joined IMA's Board of Directors )(Brief Article)
November 1, 2005... John Ka-chun Lau, CMA, CFM, CPA, has been named to IMA's Board of Directors as a director representing international membership and will serve on the Planning and Development Committee. He is chief financial officer of WesTrac Machinery...

New strategy alignment in multinational corporations.(Strategy Management)
November 1, 2005... "The whole is more than the sum of its parts." This famous Aristotle quote serves as a strategic imperative for multinational corporations (MNCs) because the corporate headquarters must ensure that its business units are collectively more...

Leverage business reporting: use service-oriented architecture.(XBRL, extensible business reporting language)
November 1, 2005... Ever wonder how a common earthworm can survive even if it has been cut in half? According to the Michigan State Science Theatre, the earthworm has organs that repeat about every 21 segments. If you cut an earthworm in the right place, the...