CMA Management articles from March 2006

CMA Management archives from March 2006

Compliance burnout? Fight it.(regulatory change analysis)(Editorial)
March 1, 2006... Over the past year, many Canadian and U.S. firms completed their first year of compliance under the Sarbanes-Oxley Act (SOX). Considering how much regulatory change there has been both here and in the U.S. over the past few years, with SOX,...

Designed to Win.(globalization influence the changes of business styles)(Brief article)
March 1, 2006... Globalization has, and will continue, to change the way we do business. Not everyone successfully navigates international growth--the cultural differences, international regulations, the complexity of international supply chains. That is why...

Multisourcing.(managing outsourcing contracts)(Brief article)
March 1, 2006... The importance of outsourcing for establishing a competitive advantage seems to be a byword in business today. But is it always the best course of action? Many executives seem to pursue it almost compulsively, putting everything in the...

Building Better Boards.(Border busting)(Brief article)
March 1, 2006... Boards of directors across North America are changing with the times, forging new working relationships at the top of the corporation. Changes made now will affect shareholders, employees and corporate leaders for some time to come. ...

Finance execs struggle to support growth.(New and noteworthy information you can use)
March 1, 2006... The recently released IBM Chief Finance Officers Study of 900 senior finance executives worldwide reveals that only a third of respondents rate themselves highly effective in supporting their CEO's efforts to grow the company. The study,...

New software.(New and noteworthy information you can use)
March 1, 2006... Visit www.managementmag.com for more information on the following software and applications packages: * Microsoft's Dynamics CRM 3.0 * Tenrox's release 8.6

IQ eluding firms, hampering growth.(information quality)(Brief article)
March 1, 2006... Despite numerous technological advancements and the tens of billions of dollars companies have poured into information technology over the past five decades, a new global research report finds that a majority of business decision makers don't...

Canadian banks gain momentum with economic capital.(New and noteworthy information you can use)
March 1, 2006... The use of economic capital is seeing significant momentum within the financial services sector around the globe. Canadian banks are well ahead and are actively employing economic capital as a business tool, a new study by...

Western cities' economies growing fast.(New and noteworthy information you can use)
March 1, 2006... Western Canadian cities will top the list of the fastest growing metropolitan economies in Canada next year, just as they did in 2005, according to the Conference Board's Metropolitan Outlook--Winter 2006. [ILLUSTRATION OMITTED] "In...

Password overload--a risky business.(Computer access control management)
March 1, 2006... A survey of enterprise technology users released late last year reveals that employees are managing a dangerously high number of passwords at work. According to the Password Management Survey findings, frustration with password management is...

New version of Simply Accounting software package aims to simplify the bookkeeping process for small and medium-sized businesses.(accounting software for small and medium sized companies)
March 1, 2006... In anticipation of growing competition serving the needs of small and medium-sized businesses, Sage Software, Inc. recently released a new and improved edition of its Simply Accounting software package. There are many enhancements that improve...

Developing an effective mentoring program: mentoring programs support the goal of employee retention and can make it easier to transition new employees into the core organization. With the right approach, any organization can benefit.(human resources)
March 1, 2006... Mentoring is no longer seen as 'nice to have,' as organizations scramble to find ways to develop and retain their workforce. Such programs needn't be complex to bring real value to the new hire, the mentor, and the business as a whole. ...

Readjusted budgeting and analysis: despite the growing sophistication of financial software at all levels, organizations continue to be leery of changing their old habits. Those medium-sized organizations that have initiated change are anticipating great opportunities for their organizations from better budgeting and forecasting support systems.(accounting software used for financial budgets)
March 1, 2006... There has been a lot of talk over the past few years about the problems associated with spreadsheet-based budgeting and forecasting. Despite general concern about the issue, however, many companies still aren't acting on this concern. The...

Sarbanes-Oxley in review: despite challenging timelines and the introduction of new processes, the exercise of implementing Sarbanes-Oxley mandated controls was a useful one for many CMAs and their organizations. The lessons they learned can benefit others in the process of preparing for new Canadian regulations.(Cover story)
March 1, 2006... Over the past year, many Canadian and U.S. firms completed their first year of compliance under the Sarbanes-Oxley Act (SOX). One of the greatest challenges was the implementation of internal control reporting provisions outlined in Section 404...

Core values: buying software is not the first step in an ABC project plan, or in any other type of upgrading process. Core values are at the heart of any project planning process. The challenge is determining what these are. An example of how Bank of America views its core values for ABC helps explain the process.(activity-based costing)
March 1, 2006... The activity-based costing (ABC) failure rate has been significant. There are many factors that contribute to these failures, but none as conspicuous as the tendency of companies to buy software as one of the first steps in the project. It...

Five steps to becoming a business partner: there are five prerequisites a management accountant should meet to become a truly effective business partner. By meeting these, a management accountant can add strategic value, building upon a company's strengths.(accountants management guidance)
March 1, 2006... As concerns over internal control reach new levels under the influence of the Sarbanes Oxley Act, the management accountant's role as a business partner is developing apace. At the same time, companies across Canada are trying to cut back the...

Creating the digital cockpit: Patrick Palerme explains how GE has taken flight with the introduction of integrated balanced scorecards.
March 1, 2006... Patrick Palerme, president and chief executive officer of GE Canada Commercial Finance, Equipment Financing, Canada was one of the speakers at the CMA International Chair symposium held in Montreal on September 29, 2005. He explained to...

Promoting better governance: serving on a board of directors has never seemed so fraught with potential pitfalls. Governance of Publicly Listed Corporations should help new and well-established directors to maintain a proper footing on the way to more effective governance practices.
March 1, 2006... A review of Governance of Publicly Listed Corporations, by Thierry Dorval. Published by LexisNexis Canada, 2005. The corporate governance landscape has changed significantly over the past few years, due to the adoption in the U.S. of the...

Research-to-market support: the Canada Foundation for Innovation expands its funding for technology development at Canadian universities.(government issues)
March 1, 2006... Innovation is at the heart of any thriving knowledge-based economy. The key to such an economy is people--people who can make that innovation happen. Any support that helps to keep talented people in Canada making innovative discoveries is a...