CMA Management articles from June 2004

CMA Management archives from June 2004

Shaping the future of professional accounting.(From the Chair)(Letter to the Editor)
June 1, 2004... These are clearly momentous times. With the proposed merger of CMAs and CAs, we are embarking on a journey that would literally change the face of the accounting profession in Canada. [ILLUSTRATION OMITTED] Mergers of private-sector...

What is Sarbanes-Oxley?(Changing Landscapes)(Book Review)
June 1, 2004... The title basically tells the whole story. This compact volume sets out to give you all the information you need to successfully comply with the new rules that the Sarbanes-Oxley Act has introduced for so many firms. It's a useful overview in...

Does IT Matter?(Changing Landscapes)(Book Review)
June 1, 2004... According to the author of Does IT Matter? Information technology and the corrosion of competitive advantage, IT doesn't matter as much as it used to. Essentially the author, Nicholas G. Carr, argues that the importance of IT has decreased as...

Managing Human Rights at Work.(Changing Landscapes)(Book Review)
June 1, 2004... Workplace human rights issues are many and varied and aren't always well understood by the managers and supervisors who have to address them day to day. Managing Human Rights at Work: 101 practical tips to prevent human rights disasters is...

CMA Darin McLean recognized in year's Top 40 Under 40 Awards.(New and Noteworthy Information You Can Use)(president of Atlantic Mobility Products Ltd.)(Brief Article)
June 1, 2004... Each year, Canada's Top 40 Under 40 Awards recognize the outstanding accomplishments of young Canadians leading the country into the new global economy. Since 1995, this has been recognized as the preeminent business award for those under the...

Peter Rubenovitch wins CMA Canada sponsored CFO of the Year award for 2004.(New and Noteworthy Information You Can Use)
June 1, 2004... Peter Rubenovitch, executive vice-president and chief financial officer of Manulife Financial, received Canada's CFO of the Year Award for 2004. The announcement was made at a gala dinner in early May in Toronto. [ILLUSTRATION OMITTED] ...

Risk management tops on corporate agenda.(New and Noteworthy Information You Can Use)(Brief Article)
June 1, 2004... Global regulation and legislation have put risk management high on the corporate agenda and large numbers of mid-sized companies worldwide are putting formal mechanisms in place to manage this challenge. Listed companies are now obliged by law...

New software.(New and Noteworthy Information You Can Use)
June 1, 2004... Visit www.managementmag.com for more information on the following software and applications packages: * CCH's ProSystem fx Practice 6.0 and 6.1 * SAS Solution's SAS 9 Intelligence Platform * Stonefield Software Inc.'s version 1.03...

Four countries establish tax transaction task force.(New and Noteworthy Information You Can Use)(Brief Article)
June 1, 2004... It was recently announced that the Tax Commissioners of Canada, Australia, the United Kingdom and the United States have established a joint task force to increase collaboration and coordinate information about abusive tax transactions by...

Canadian companies review pension plans.(New and Noteworthy Information You Can Use)
June 1, 2004... A majority of Canadian CFOs believe a pension crisis exists but don't think that it will last, according to a survey released recently by The Conference Board of Canada and Watson Wyatt. Despite this, many of the companies that responded to the...

New anti-money laundering publication from IFAC.(New and Noteworthy Information You Can Use)(Anti-Money Laundering 2nd Edition)(Book Review)
June 1, 2004... Governments, regulators and the global business community are increasingly calling on accounting practitioners to contribute to the battle against money laundering. A new paper issued by the International Federation of Accountants (IFAC),...

Correction.(Correction Notice)
June 1, 2004... In the article "The CRM scrum," by Kira Vermond (CMA Management, April 2004), the cost of Help Desk Technology's HelpSTAR product is quoted at a starting price of $24.95 for two support representatives. The price is actually $2,495 for two...

Humour at work: finding the right balance of seriousness and positive camaraderie is never easy, but accepting the benefits of a good laugh in the workplace can improve morale and the health of employees. The challenge is how to do it right.(Human Resources)
June 1, 2004... Everyone enjoys a good laugh now and then. It seems only natural that we should enjoy that at work now and again as well. After all, that's often when and where we need it most. But not all would agree that that's a good idea. With a...

Encouraging employee engagement: new compliance regulations created by the Ontario Securities Commission and Sarbanes-Oxley should be considered benefits, not roadblocks.(Management Trends)
June 1, 2004... At a recent forum for directors, two well-known Canadian CEO/Directors lamented how over burdened they and their fellow directors were by new compliance regulations created by the Sarbanes-Oxley Act (SOX) in the U.S. and the Ontario Securities...

Setting your sight lines: how to position performance measures to connect staff to an organization's goals.(Business Strategies)
June 1, 2004... Managers often struggle to sustain the changes required to remain competitive. Often this is a result of poor implementation, or a lack of training. What many managers overlook is the role of performance measures in cementing changes within an...

Toward global strength: the proposed merger of CMA Canada and Canadian Institute of Chartered Accountants would create a stronger, more influential accounting voice in Canada and around the globe.
June 1, 2004... On May 11, 2004, CMA Canada and the Canadian Institute of Chartered Accountants (CICA) announced that Certified Management Accountants and Chartered Accountants in all provinces and territories were considering formal discussions to merge. The...

Sorting out the details.(Radio frequency identification equipment)
June 1, 2004... Radio frequency identification, or RFID, is being heralded as the most important development in the movement of goods since the barcode. The technology isn't new, but the scope of its potential use is broadening quickly. Air Canada's use of...

Proper pro forma reports: pro forma earnings reports may have their place but make sure your company uses them properly. By considering a few basic best practices, this shouldn't be difficult.
June 1, 2004... Managers have the discretion to report alternative, 'pro forma', earnings measures in their company's earnings press releases. These pro forma measures, which aren't audited, are typically determined through adjustments to GAAP-based earnings....

Accounting Standards in Canada: future directions.(Notice of Invitation to Comment)(Brief Article)
June 1, 2004... OVERVIEW The Accounting Standards Board is requesting public input concerning its future directions as a basis for developing a five-year plan for the period 2005-2010. The Board seeks broad-based input that will assist it, in consultation...

CFOs and the audit committee: partners for progress; A healthy dialogue between these two functions should create healthier organizations. The challenge now is to keep that dialogue going. The new Audit Committee Toolkit may be the answer.
June 1, 2004... The relationship between the CFO and the audit committee has matured rapidly as a result of recent scandals. Oftentimes there was minimal contact between the two; now, they are establishing almost daily interaction. This has had a substantial...

IT and Sarbanes-Oxley: there's no question that meeting the requirements of the Sarbanes-Oxley Act (SOX) and good IT management go hand-in-hand, but companies should be aware that there are greater benefits to be had from this link than simply meeting mandated compliance requirements. SOX should usher in new and more effective ways of managing businesses. Leaders can take advantage of this.
June 1, 2004... In the post-Andersen and post-Enron era, the unending stories of corporate malfeasance that have rocked the boardrooms of North America are equally matched by volumes of governance recommendations ushered in by the Sarbanes-Oxley Act (SOX) of...

PIPEDA and non-profits: the new privacy legislation landscape is raising a number of questions for not-for-profit organizations. Although PIPEDA won't affect everyone, it does have implications for many.(Personal Information Protection and Electronic Documents Act)
June 1, 2004... Although the Personal Information Protection and Electronic Documents Act (PIPEDA) has been in effect since January 1, 2004, many organizations are still trying to assess its impact. Many not-for-profit and charitable organizations have been...

A drive for diversity: Lally Rementilla, CMA, encourages the development of alternative cultural voices in business.(Profile)(Cover Story)
June 1, 2004... Although Canada is considered a multicultural country, there is still a perception that the voices of minority groups and women aren't heard in many spheres. Some businesses are trying to address this by making it their mission to support...

The new allure of global commodities markets: flow-through limited partnerships offer an intriguing investment option for high-income earners.(Money Management)
June 1, 2004... Global trends require us to update our portfolio investments on a regular basis. But even the most dedicated retail investors occasionally overlook valuable options in the rapidly changing investment field. Flow-through limited partnerships...

Hotspot service: FMC's new client perk could be the next big trend.(Information Technology)
June 1, 2004... Late last year, CMA Management first discussed the advent of wireless fidelity--WiFi--as a serious business tool (November 2003). At the time, however, we still weren't really sure who was using it and for what. The question was really, how...

Partnering for green success: new Web site will assist Canada's environmental business sector.(Government Issues)
June 1, 2004... A new interactive Web site and e-mail system for environmental businesses is promising to provide Canada's $15 billion environment industry with a dynamic way to source new business opportunities. Launched in March by Export Development...

Manufacturing compliance: as the European Union (EU) expands and becomes an ever more attractive export destination, new players have to keep compliance top of mind. The CE mark indicates that a product complies with all the requirements set out in the EU's New Approach Directives, and without it, exporting certain products to Europe simply isn't possible. Make sure your products make the grade.(Global View)
June 1, 2004... On May 1, 2004, 10 new countries joined the European Union (EU), creating the world's single biggest trading block--500 million customers and a lot of opportunities for business. Small and medium-sized companies that want to capitalize on this...