CMA Management articles from October 2004

CMA Management archives from October 2004

Share and share alike.(From the Editor)
October 1, 2004... In the last issue, I used this space to talk a bit about convergence--how we have to push changes in international accounting practices to create a stronger industry. A big part of that process is simply opening up the dialogue--getting...

The Power of the 2X2 Matrix.(Confronting the Reality of Change)(Book Review)(Book Review)
October 1, 2004... Dilemmas are a part of every day business. The authors of The Power of the 2X2 Matrix recognize this fact and have created a strategic problem solving method called 2X2 Thinking to address it. The method uses creative tension to drive...

From Business Strategy to IT Action.(Confronting the Reality of Change)(Book Review)(Book Review)
October 1, 2004... There are many books on strategic planning. What makes From Business Strategy to IT Action different is that it outlines how to get value from the IT group in an enterprise by linking the plans of the IT group with those of the whole firm. The...

Confronting Reality.(Confronting the Reality of Change)(Brief Article)
October 1, 2004... Confronting Reality: Doing What Matters to Get Things Right uses examples of successful companies to explain how business owners have to get back to some basic precepts if they want to move their businesses forward. [ILLUSTRATION OMITTED]...

Sarbanes-Oxley compliance estimates soar.(New and Noteworthy Information You Can Use)
October 1, 2004... Complying with Section 404 of The Sarbanes-Oxley (SOX) Act will cost public companies an average of 62% more than previously anticipated, according to a recent survey by Financial Executives International (FEI). The increase in Section 404...

Financial institutions lagging in risk management.(New and Noteworthy Information You Can Use)
October 1, 2004... Financial services companies have pushed risk management further up the corporate agenda and now regard reputational risk as the greatest threat to their market value, according to a new study by PricewaterhouseCoopers (PwC) and Economist...

Investment management firms restructuring in face of challenges.(New and Noteworthy Information You Can Use)(Brief Article)
October 1, 2004... The large-scale losses by investors in the last bear market, mutual fund scandals and increasing legislation, have lead to investor nervousness the world over, according to a recent study of investment management firms around the world. The...

Ergonomics for your laptop.(High Tech)(Brief Article)
October 1, 2004... Laptops, while convenient in some ways, can also be rather irksome--having to use a touch pad instead of a mouse can be irritating if you're not used to it. This makes LapWorks, Inc., based out of California, an interesting company. It designs...

Running in the family: succession planning remains a thorny issue for many family businesses. But the earlier the planning starts, the easier it's likely to be.(Human Resources)
October 1, 2004... Keeping a business in the family is just as difficult as keeping family in a business. When it comes to succession, it is not as simple as handing down an heirloom to the eldest son. The founder must decide who should walk in his or her shoes....

Better budgeting: despite their alleged demise, budgets still remain a popular fixture--how we define them and the cultures in which we use them are simply changing with the times.(Management Trends)
October 1, 2004... "The budget is dead. Long live the budget." That seemed to be the central message of a report released this summer by the Chartered Institute of Management Accountants (CIMA) and the Institute of Chartered Accountants in England and Wales...

Culture change and organic growth: overcoming barriers to organizational learning.(Business Strategies)
October 1, 2004... To handle the complex and ever changing nature of work, organizations need to be in perpetual learning mode. But are Canadian companies doing a good job? Some experts say no. "You hear people talking about the virtues of the learning...

The business of sharing--accounting for open source: the benefits of free, open source software are great, and managed well can add great value to a business. Existing accounting best practices offer guidance on how best to account for the benefits of these, alongside the broad spectrum of other software in use today. Make sure you see the full value of your IT investment.
October 1, 2004... "Free" or open source software could be compared to a potluck dinner--you bring something nice to share, and you are free to choose from whatever you like. Take some of this, skip that. How well you eat depends as much on your own preferences...

Compensation concerns: the role of compensation committees is an important though often overlooked part of the governance puzzle. Establishing the right processes for managing executive compensation creates the transparency essential for today's corporate realities. Make sure you're doing it right.
October 1, 2004... Corporate scandals such as Enron, Worldcom and Tyco involved financial irregularities and have affected the intended watchdog against these, audit committees. Legislation, regulation and investor scorecarding have focused on the independence of...

Generating results: strategic financial management is finding its rightful place in the newly restructured NB Power.
October 1, 2004... NB Power, New Brunswick's provincial utility, has struggled, to put it mildly, for some time. The Crown Corporation is saddled with $3 billion in debts, recently lost a pivotal fuel supply contract with a Venezuelan oil company and has had to...

Hands-on scorecarding: how strategy mapping has helped one organization see better its successes and future challenges.
October 1, 2004... The balanced scorecard (BSC), as a management tool, has adapted and matured over the past few years. An integral part of that development has been the application of strategy maps to balanced scorecards to improve management's understanding of...

Building minority business: CMA Ramesh Swamy helps entrepreneurs grow in Southern California.(Profile)
October 1, 2004... The value of small and medium-sized businesses for the economy is recognized broadly in Canada and abroad. Small businesses are job creation engines, and also result in a significant portion of the innovative research and development in North...

The rules of the sale: non-competition payments are now taxable as income. Make sure you take this into consideration when structuring a sale.(Tax Tips)
October 1, 2004... Reducing tax liabilities is generally a priority when structuring the sale of a business. However, with new tax law changes there's now one less strategy available to do so. In spring 2003, the Federal Court of Appeal ruled, in the Manrell...

The economics of crime: identity theft and fraud are two of the most common white-collar crimes today. Both you and your company should be taking steps to stop them.(Information Technology)
October 1, 2004... Identity theft is the fastest growing commercial crime in North America and it potentially affects everyone, everyday. Each one of us qualifies as a potential target. Despite this, most people continue to be lackadaisical about properly...

Defending the data: how much is a Yotta? A whole lotta security potential, according to the federal government.(Government Issues)
October 1, 2004... Regardless of the emergencies Canada might face--health, crime, terrorism, or natural disasters--secure management technologies are a necessity. To provide for this, a leading-edge, made-in-Canada system of data sharing and management for...

Merger discussions heat up the industry: three U.K. accounting designations are exploring a consolidation that, if approved, will reshape the global professional accounting landscape.(Global View)
October 1, 2004... A year ago, The Guardian newspaper ran a scathing article about the "internecine warfare" among the various accounting bodies in the U.K. Although the article probably over-dramatized the division among these organizations, like any country...