CMA Management articles from April 2005

CMA Management archives from April 2005

Creative leadership.(from the editor)
April 1, 2005... Strategic leadership requires creativity--or at the very least a tolerance for it. As Richard Michalski, CMA, notes in one of our feature articles this month, the ability to innovate is one of the most critical factors required to determine...

Passionate and Profitable.(Brief Article)
April 1, 2005... Businesses generally preach the mantra that the customer is king. But have they really treated them that way? Do they truly live up to the mottos that line their corporate hallways, insisting the customer is always right? In his new book,...

Proposed Canadian Rule on Internal Control Reporting.(Brief Article)
April 1, 2005... In early February, members of the Canadian Securities Administrators (CSA), other than British Columbia, published Multilateral Instrument 52-111 Reporting on Internal Control over Financial Reporting. The instrument is out for a 120-day...

Canadian Income Funds.(Brief Article)
April 1, 2005... Income trusts, royalty trusts and real estate investment trusts have become popular investment vehicles over the past few years. The first Canadian publication to deal with these specifically reached bookshelves over the past few months....

New strategic imperatives forge a bright future for CMAs, says Board chair: a new CMA competency map, branding campaign and international programs highlight a range of CMA Canada strategic initiatives that are paving the way for bold new ventures into key markets.(beliefs of David Hastings of Certified Management Accountants Canada)
April 1, 2005... Oil industry executive. Business advisor. One-time professional hockey player. Jogging enthusiast. Wannabe golfer. Father. If there was ever a professional who could serve as the model for the CMA brand, David Hastings would be the one....

Telling the CMA story--in a compelling and dynamic way: CMA Canada's brand advertising program shows the world that management accountants add value to every aspect of an organization.
April 1, 2005... A new brand advertising program launched by CMA Canada in autumn 2004 has created quite a buzz among customers and competitors alike. The innovative ads illustrate that CMAs have broad-based, integrative skills not normally associated with...

The CMA competency framework: unlike any other: CMA Canada's new competency mapping framework clearly defines the management accounting territory, delineating what employers and clients expect of a CMA at every career stage. It also provides a solid foundation for CMAs to expand their field of practice.(Certified management accountants)
April 1, 2005... CMA Canada is developing an innovative competency framework that will ensure CMAs remain the premier strategic financial management professionals who lead successful enterprises in the global marketplace. "Development of a competency-based...

International programs spearhead CMA global recognition: a diversity of international programs are building the worldwide reputation of CMA Canada and its members, and enhancing quality growth.(certified managment accountants)
April 1, 2005... Globalization, technology and the increasing mobility of business professionals have made the world a much smaller place. For any organization to survive and prosper, strategies to enhance global marketplace relevance and recognition are...

CMA Canada expands resources for management accounting research: management accounting research will nourish growth of CMA competencies and enhance the competitiveness of leading-edge organizations.(Society of Management Accountants of Canada)
April 1, 2005... To foster the development of innovative management accounting tools and techniques and build member competencies, CMA Canada is dedicating expanded resources to management accounting research. "Continuously expanding the conceptual...

New guidelines released for financial instruments.(News and views)(standards of Accounting Standards Board)
April 1, 2005... In late January, the Accounting Standards Board (AcSB) issued new standards for reporting financial instruments. According to the AcSB, the new standards are a hybrid of the highly complicated FAS 133--Accounting for Derivative Instruments and...

Integrated finance function drives value-centred cultures.(survey of chief financial officers)
April 1, 2005... A new Accenture study stresses the importance of strategic financial professionals in business today. The study notes that there are five common characteristics among companies that master the finance function to achieve enhanced business...

New centres of excellence in Alberta aim to improve mid-sized company performance.(News and views)(science and technology policy)
April 1, 2005... The Alberta government and Microsoft Corp. recently announced the launch of two new centres of excellence focused on cutting edge technologies specific to the Alberta manufacturing industry. The centres will help Alberta-based manufacturers...

U.S. study suggests a strong brand draws talent.(business leaders surveys)(Brief Article)
April 1, 2005... U.S. business leaders are leveraging the value of their brands to sustain and add to employee head count, according to the Grant Thornton Survey of U.S. Business Leaders. Sixty-three per cent of U.S. business leaders say attracting and...

Making work pretty.(HIGH TECH)(Brief Article)
April 1, 2005... The new Sony HS-Series Display probably isn't going to be the next upgrade you'll see at the office--the suggested retail starts at $549--but for computer enthusiasts who want to add a little panache to the home office / gaming centre, this...

Deepening U.S. trade and safeguarding borders key to Canada's prosperity.(News and views)(Brief Article)
April 1, 2005... Canada-U.S. economic integration has outpaced the capacity of existing trade agreements and the physical infrastructure to manage the growing volumes of trade, putting Canada's economic security at risk, the Conference Board of Canada says in a...

Governance, risk management and compliance: the benefits outweigh the costs.(News and views)
April 1, 2005... Building robust corporate governance systems and processes, managing risk on a global scale, and complying with an increasingly vast web of regulatory requirements is difficult, costly and time consuming work; however, according to...

Taking a holistic view of global investments is critical, study stresses.(News and views)
April 1, 2005... While many companies have grown from small local enterprises to become global leaders in their industries, more than 80% of them fail to capture the full returns of their global investments, according to a new study conducted by Deloitte...

Managing employee personal information: although businesses are well aware of the importance of managing customer information, they are often unaware that employee information must be managed in a similar manner. Failure to properly deal with this is a serious risk.(human resources)
April 1, 2005... Managing customers' personal information has become a priority for many private sector businesses and organizations. It can provide a valuable competitive advantage but there may also be a legal imperative for making it a priority. Despite this...

The realistic entrepreneur: a new CIBC study suggests that the independent-minded should look to their futures carefully--the future of their businesses and their own retirement.(management trends)(Editorial)
April 1, 2005... There has been much talk about the aging population in Canada, and the inevitable succession issues faced by small business owners across the country. The concern that so many in the media have expressed about this trend was confirmed in a...

Run the right race: you're busy, you're productive--but are you effective? Every leader has goals, both personal and business-related. Yet, it's a challenge to stay focused on these goals from day to day. Effective leaders are able to step away from the daily business operations to see the larger picture. How are you managing this challenge?(suggestions for certified management accountants)
April 1, 2005... In the last issue of CMA Management, we talked about the importance of leadership as opposed to management. Great leaders never focused on being really good managers; they focused on being great leaders. The secret to that is clearly...

A bigger slice of the pie: Boston Pizza has experienced impressive growth over the past 10 years. With a strong franchise model, public investment and plans for more expansion in eastern Canada and the U.S., the future looks friendly too.(Boston Pizza International Inc.)
April 1, 2005... The first time Mark Pacinda saw a Boston Pizza restaurant, it was a cold day in Edmonton. At that time, he hadn't yet joined the company and all he could think about was a common misperception--"why would an American chain open up out here when...

The value of partnerships: outsourcing is only as effective as you make it. By approaching your outsourcing arrangements with the proper amount of due diligence, you protect yourself from future concerns. Dickies Canada is one company that has done it right.(Editorial)
April 1, 2005... Outsourcing continues to be a popular method of shifting the responsibility for non-core functions of a business into other, often more capable hands. However, the reasons for outsourcing vary. Some companies consider it a long-term commitment...

Innovation on hold? The government's spending policies in the 2005 budget fall short of addressing Canada's Productivity challenges.
April 1, 2005... In November 2004, CMA Canada presented its views to the House of Commons Standing Committee on Finance on what the 2005 budget should contain. Under the title Measures to Enhance Canadian Productivity and Sound Government Management, CMA...

Groundworks: CMA Kris Dartnell recently launched an innovative financial management manual and workshop series among a number of small Nigerian organizations. Her goal was to promote capacity building in organizations operating in harsh environments--to give them the skills to operate and grow with confidence. It worked, and with Dartnell's perseverance, more organizations around the world will benefit from the experience.(certified management accountant)
April 1, 2005... The recent tsunami in the Indian Ocean was a reminder of how important international aid is in many parts of the world. Although the disaster was unprecedented, it brought a greater awareness throughout the world of the important work carried...

Raising the bar on retirement planning: Individual Pension Plans provide enhanced benefits for business owners, but evaluate the strategy carefully before proceeding.(money management)
April 1, 2005... Tax season always drives home the lesson that wealth management is partly about growing one's assets but just as importantly about limiting the annual bite taken by Canada Revenue Agency. An underused strategy for achieving both of those goals...

Managing information on disparate devices: the technology-enabled portability of our working environment has led to the dispersion of corporate data on laptops, USB keys, PDAs, and home computers. This complicates the problem of managing sensitive information, but the fundamental principles haven't changed, according to experts.(information technology)(personal digital assistants, universal serial bus)
April 1, 2005... It's six o'clock. You're in the office finishing up a financial report for tomorrow's board meeting. You glance at your calendar and suddenly realize that this is the night of your daughter's school concert. You'll have to finish up the report...

Funding foundations: NCE's Young Innovators Award honours Canada's leading young minds.(government issues)(Networks of Centres of Excellence )
April 1, 2005... There is considerable concern that Canada has experienced a "brain drain"--that we're losing good young minds for better paying jobs in other countries. But the Canadian government is trying to stem that in a variety of ways. Late last year,...

India's energy needs: a new Indian policy for the all-important energy sector holds promise for Canada's oil and gas explorers.
April 1, 2005... When India's Petroleum Minister launched the road show for India's fifth New Exploration Licensing Policy (NELP-V) in January, foreign investors got a glimpse of the Congress-led government's enthusiasm to continue with reform and...