Accountancy Age articles from April 2005

Accountancy Age archives from April 2005

Promotions hit for consumer multinationals.(Brief Article)
April 7, 2005... Byline: Alex Hawkes. Consumer goods giant Unilever knocked more than EUR1bn ([pounds sterling]686,000) off its turnover this week in an accounting policy change that looks set to be followed by other major groups. The restatement under...

Europe may back liability cap.(limits on auditor liability)(Brief Article)
April 7, 2005... European Commissioner Charlie McCreevy has vowed to look into the merits of limiting auditor liability and whether it should be backed at European Union level, writes David Rae in Brussels and Paul Grant. Speaking at this week's ICAEW...

BBC to cut finance department by two-thirds.(Brief Article)
April 7, 2005... Byline: David Rae. The BBC is to slash its in-house finance department to around a third of its current size, as part of the corporation's drive to find [pounds sterling]355m of savings. In an interview with Accountancy Age this week,...

News in brief.
April 7, 2005... The Priory Group, well known for its work detoxing celebrities, is targeting indulgent financial services professionals in an advertising campaign on alcohol abuse. 'Workers in the City are under enormous pressure to perform at peak levels, and...

Firms may have to go cap in hand to banks. UITF move could force accountants to renegotiate with lenders, writes Kevin Reed.(Urgent Issues Task Force)
April 7, 2005... Accountancy firms could be forced to enter into new credit agreements with their lenders, by revenue recognition accounting rules that will push up their tax bills. Last week the Urgent Issues Task Force issued abstract 40, which clarified...

M&S tax fight comes to a head.(Marks and Spencer case)(Brief Article)
April 7, 2005... The ECJ advocate general Luis Maduro will today deliver his verdict in a tax case that could cost the government billions of pounds in repaid tax, writes Alex Hawkes. Maduro's verdict on the Marks & Spencer case, which will be a...

Deloitte expands in China.(acquires Beijing Pan-China CPA)(Brief Article)
April 7, 2005... Byline: James Bennett. Deloitte has become the largest accountancy firm in the world's fastest-growing economy, following its acquisition of Beijing Pan-China CPA for an undisclosed fee. Although the Big Four firm has been in the...

Treasury considers using IHT relief to encourage investment.(inheritance tax)(Brief Article)
April 7, 2005... Gordon Brown is considering plans to scale back income tax reliefs on venture capital trusts and replace them with inheritance tax breaks as a means of ensuring long-term investment, writes Alex Hawkes. The Treasury is currently consulting...

Fashion conscious: Louis Vuitton's financial results look more favourable under IFRS as its net income for 2004 would have risen 18%.(Louis Vuitton Moet Hennessy)(Brief Article)
April 7, 2005... Louis Vuitton Moet Hennessy would have increased its 2004 net income by 18% under IFRS, writes James Bennett. The group - which includes luxury brands such as Givenchy, and Veuve Clicquot - said a 'reversal of goodwill amortisation' would have...

Blow dealt to subsidiary income. Swings in profits and cash balances likely to follow reclassification, writes Nicholas Neveling.
April 7, 2005... UK companies with interests in subsidiaries could be forced to reclassify several of them as joint ventures under IFRS - a change that will cause swings in pre-tax profits and impact on cash balances. In some cases, this change means...

MPs censure accounting at EC again.(Commons Public Accounts Committee)(Brief Article)
April 7, 2005... The European Commission has pledged to tackle its accounting weaknesses after a damning report from the Commons Public Accounts Committee slammed its failure to properly manage [pounds sterling]70bn worth of European Union taxpayers' money,...

Auditors charge oil giant $70m.(Shell)(Brief Article)
April 7, 2005... Byline: Kevin Reed. Auditors KPMG and PricewaterhouseCoopers were paid over $70m ([pounds sterling]37m) for their work with Shell during its troubled last 12 months, according to the oil company's latest filing with the SEC. The...

Big Four take their pick.(graduate recruitment)(Brief Article)
April 7, 2005... The Big Four have sifted through around 20,000 job applications from graduates and are appointing almost 3,500 applicants this year. PricewaterhouseCoopers has already completed its recruitment of 1,000 students soon to graduate, Deloitte...

UK seeks to soften VAT blow. Customs promises guidance on impact of EC travel expenses ruling, write Kevin Reed and Keith Nuthall.
April 7, 2005... The government has pledged to minimise the impact on business of a European Court of Justice decision that overturns the UK's rules on the VAT treatment of travel expenses. Under UK tax rules, businesses can reclaim VAT on road fuel bought...

Oil and gas sector may lose finance voice.(Oil Industry Accounting Committee)(Brief Article)
April 7, 2005... Byline: Nicholas Neveling. The Oil Industry Accounting Committee, a body that provides guidance to the sector on accounting standards and offers industry views to regulators, is facing an uncertain future as the UK implements IFRS. ...

Share price risk over S404.(Sarbanes-Oxley Actd)(Brief Article)
April 7, 2005... Company share prices could be badly hit by analysts and investors' failure to understand the implications of disclosures on Section 404 of the Sarbanes-Oxley Act, writes Paul Grant. Research undertaken by PricewaterhouseCoopers found that...

Finance week - Football clubs take eye off the IFRS ball. Half-time results look bleak for football clubs, who have yet to prepare the stock exchange for the significant impact of new accounting standards on their balance sheets, writes Nicholas Neveling.
April 7, 2005... If the interim results released by five listed football clubs over the last week are anything to go by, prudence and caution have become priorities for an industry that nearly became a victim of its own excess. But although Glasgow Celtic,...

Finance week - Company reports. Burren Energy launches initiative to help brokers understand IFRS as rival BP releases first figures.
April 7, 2005... Retail bank Northern Rock is expecting greater volatility in profits with the introduction of IFRS, because of the requirements of IAS39. The company does not expect asset growth and profit targets to be affected under the new standards,...

Analysis - Ensure aid is well spent. The European Commission's experience of providing aid to the Palestinian Authority offers some salutary lessons about funding foreign governments, writes Alex Hawkes.
April 7, 2005... OLAF, the EU's anti-fraud agency, last week cleared the European Commission of funding terrorists in Palestine. An EC aid plan to the Palestinian Authority had prompted accusations that the money had been used to fund terrorist activity. But...

Taking Stock - Insolvency's a rough old job.(Brief Article)(Column)
April 7, 2005... A few too many reports of administrations have hit the old TS in-tray in recent times, but we suppose it keeps those darned turnaround experts in work, and shiny shoes. The latest one to wing its way to the TS newsdesk told of Ernst &...

Taking Stock - Attracting graduates.(Brief Article)
April 7, 2005... TS isn't averse to the odd bit of shameless self promotion, as you will see from the endless references to our blog site this week (takingstock.accountancyage.com, by the way), but even we would balk at what the Big Four get up to. When trying...

Taking Stock - Cutting costs begins at home.(Zarin Patel of BBC)(Brief Article)(Column)
April 7, 2005... Charged with handling one of the biggest single cost-cutting drives the BBC has ever seen, TS was surprised to hear of group finance director Zarin Patel's rather extravagant approach to music. Back in December she took the plunge and...

Taking Stock - Storming up the charts.
April 7, 2005... At TS, we have stars in our eyes. Now our dreams of creating an all-star band that can storm to the top of the accountancy music charts are halfway there! Courtesy of Dennis Flynn, we now have some lyrics and a title, all we need now is...

Taking Stock - TS every day online.
April 7, 2005... Bad tidings, my friends, bad tidings. Old-school journalism is officially dead. It seems someone upstairs has noticed that, unlike the rest of the office, TS wanders in late, pops out for very long and boozy lunches (contact-building, we...

Insider - Overview - Knight's Crusade. On the frontline: FRRP chairman leads the fight against shoddy practice, writes David Harding.(Bill Knight of Financial Reporting Review Panel)
April 7, 2005... Despite a successful career spanning four decades, more people in the world of finance have probably heard more about Bill Knight in the past year than ever before. Knight took over as chairman of the Financial Reporting Review Panel 13...

Insider - Three steps to ... Mastering the media and boosting business.(Brief Article)
April 7, 2005... Step 1. Don't do a Prince Charles Facing the press needn't be a trauma. If you position yourself as the financial expert in your local area and use your appearance through TV, radio, newpapers and the internet, clients will come to you. ...

Insider - Buzzwords - Global awareness paradigm. (noun) we suspect, but we really have no idea what it means.(Brief Article)
April 7, 2005... 'Welcome to the world's most dynamic e-business marketing, design and consulting agency,' runs the blurb. 'We provide distinct clients with groundbreaking business strategies. And our website will make you think we know what we're doing. Our...

Tax - Government warned over rushed bill. Experts fear general election may cause uncertainty in new tax legislation, writes David Rae.
April 7, 2005... Last month's publication of the finance bill revealed a raft of new measures to clamp down on tax avoidance, but accountants have warned the government that it could result in a 'flight from certainty' in terms of tax legislation. With a...

Tax - Pre-owned assets rules in force. The government's hugely controversial pre-owned assets regime came into force yesterday, as the new 2005/06 tax year came into effect, writes David Rae.(Brief Article)
April 7, 2005... Guidance on the new legislation was published on the Inland Revenue's website in mid-March, giving accountants little time to digest the true implications of its introduction. The ICAEW said that there was 'no doubt' that the guidance...

Tax - It's the talk of the election.
April 7, 2005... As we approach a general election, tax will crop up in conversation more often than normal and an accountant's expertise will be sought rather than feared - which can only be a good thing for the atmosphere at the average dinner party. ...

Technology - Crunch time for BACS users. Concern raised over last-minute rush by businesses to prepare for online system, writes Kevin Reed.(IT migration)
April 7, 2005... UK businesses have just weeks to plan their switch to the new online BACS system, or risk entering 2006 paying suppliers or staff wages manually, the IT industry has warned. Concerned software vendors have revealed that they would struggle...

Technology - IT briefs.(Honda Motor Europe contract )(Prudential outsourcing)(Brief Article)
April 7, 2005... Honda Motor Europe has awarded a contract for an undisclosed value to Hyperion for a web-based product to improve its financial budgeting. The new system will address the growing complexity of Honda's budgeting process, and allow it to compare...

Opinion - Why Brown's braced for a multibillion-pound tax bill.(corporate tax refund case)
April 7, 2005... Today the battle between the Inland Revenue and Marks & Spencer reaches a critical point. It was as far back as November 2002 that Accountancy Age broke the story that Marks & Spencer was taking the Revenue to court to reclaim [pounds...

The Debate - Long-hours culture is long gone. Given the choice, most people would not reduce their working hours, writes Steve Willey. And we actually have a short-hours culture, says John Philpott.
April 7, 2005... In debating long-hours working, it is worth considering whether the basic premise is sound. In fact, the average working week in the UK has fallen by over an hour since the mid-1990s. Full-timers are working around an hour and a half less...

The corridors of power ...(jail sentences for chief executive officers)(Brief Article)(Column)
April 7, 2005... Byline: Jon Ashworth. Writing recently about Christie's, the fine art auctioneer, and its bumper profits, I was reminded of that distasteful affair between Christie's and Sotheby's and the fixing of commissions on art sales. Those in the...

Letter - An average figure?(Letter to the Editor)
April 7, 2005... Our salary survey appeared misleading to one reader in financial recruitment. As worthy as the intentions of those who compile such information are, as an ACA who has specialised in recruiting financial management for the last 25 years I...

Letter - My time in audit hell.(Letter to the Editor)
April 7, 2005... Deloitte thinks it's fine for people to work over the EU maximum; salaries aren't really rising; and 75% of audit firms are 'plagued by skills shortages' (31 March, page 1). Hmm - can anyone see a connection here? If firms started basing...

Letter - Jobless blues.(Letter to the Editor)
April 7, 2005... As an unemployed ACMA with years of experience, I have been searching for a job for eight months - the last two months for a temporary position. I have had no offer of any work at all. The market therefore values me as unworthy of employment...

Letter - Fickle women?(Letter to the Editor)
April 7, 2005... I note with interest that a survey in New Woman shows that 67% of women believe that the man should be the main provider for his family. Are these the same women who complain about the gender wage gap, claiming that it is due to discrimination?...

Letter - Out-sauce.(Letter to the Editor)
April 7, 2005... I believe that various entrepreneurs are convincing the accountancy profession that outsourcing is the only way forward. However, it would seem to me that there is no place in the market for the small practice. Yesterday we were shown how...

Letter - A message from the enemy.(Letter to the Editor)
April 7, 2005... I am writing to you as one of the enemy. I was a fellow of the ICAEW until the early 1990s. I still continue to practice. I carry full professional indemnity insurance. I attend very high-profile courses on accountancy and auditing. I have an...

Letter - Such tardiness is unacceptable.(Letter to the Editor)
April 7, 2005... Further to MJ Ward's letter about ICAEW mail shots (24 March, page 17): I sent in amended address details with my subscription in December. Three months later all my institute correspondence continues to go to my old address. When I asked...

Awards - Finance director Blue chip Award.
April 7, 2005... This award for Blue Chip Finance Director of the Year is one of the highest profile Accountancy Age Awards. It recognises professional excellence in financial management and is open to financial directors (CFOs or business unit financial...

Awards - Sponsor - A mark of our respect.(Marks Sattin finance director ward)(Brief Article)
April 7, 2005... Marks Sattin are the proud sponsors of the Finance Director - Blue Chip award for 2005 in association with Accountancy Age and Financial Director magazines. Why do we sponsor this award? It is our intention to use the award to shower...

Insider - Are you sitting uncomfortably? The annual appraisal is a great idea - but poor execution and apathy mean it is usually a opportunity missed, writes Frances Storr.
April 7, 2005... The annual appraisal is not dissimilar to the school report. You look forward to them and dread them in equal measure and then, once read, they are banished to the bottom drawer where they are left to gather dust. A year's effort condensed into...

Insider - Profile: the FD leading a broadcasting revolution - The woman from auntie'. 'Brutal' job cuts, government interference and a British public more vociferous than any institutional shareholder mean BBC group FD Zarin Patel faces a tough task. David Rae talks to the woman charged with producing a leaner and fitter public service broadcaster.(Interview)
April 7, 2005... 'It's the worst week in the history of the BBC,' is how broadcasters' union, Bectu, described last month's bombshell announcement from White City. It is easy to see why. A total of 3,780 jobs will be slashed and savings of [pounds...

Insight: recruitment crisis - Talent Spotting. The age-old problem of recruiting graduates may have eased but the challenge of retaining them on qualification still vexes the HR departments of the Big Four, finds Hugh Thompson.
April 7, 2005... The Big Four have been like triumphant elephants on campus this year. All report that recruitment has been easier and their timetables to fill graduate intake quotas are far more advanced than in previous years. Accountancy, it would appear, is...

Services - Adviser: Don't starve the cash cow. Offering an extra service is all very well - but don't forget about the core products that are the basis of your business, say Phil Shohet and Andrew Jenner.
April 7, 2005... At a time when the focus is on providing added-value services that will impact on clients' business development, 'production line' services such as accounts preparation, personal tax, payroll and management accounts can be very low on the...

M&A values skyrocket but leave mid-tier untouched.
April 11, 2005... Byline: Gavin Hinks M&A values skyrocket but leave mid-tier untouched Mid-tier corporate financiers are unlikely to benefit from the huge increase in the value of UK merger and acquisition deals, recently revealed by figures from the...

Analysis - The real vote-winning issues. Last week we revealed that nine out of 10 UK FDs had no confidence that business needs would be addressed in the election campaign. Damian Wild asks business leaders what they want tackled.
April 14, 2005... So 84% of finance directors do not expect the main political parties to address the needs of business in the forthcoming general election campaign, according to last week's Accountancy Age/Reed Finance Big Question survey. In a way they...

Management consultancy - Jury is still out on e-government. Study finds that focus on online delivery may not be the best way to serve the public, writes James Bennett.
April 14, 2005... The way long-term public IT projects are deployed by government departments such as the Inland Revenue and the NHS should fundamentally change and not simply focus on public online services, according to a major new survey by Accenture. ...

Management consultancy - MoD extends telecoms contract.
April 14, 2005... The MoD's 'defence fixed telecommunications system' contract with BT has been extended by five years to July 2012, providing a timely boost to one of the largest UK IT services deals and taking its value to over [pounds sterling]3bn. Lord Bach,...

Management consultancy - Worth the price of public shame.
April 14, 2005... 'So Mr Bennett, just so we're clear on this... now that we've managed to surgically reassemble three of your digits after trapping your hand down your waste disposal unit, could we possibly place all this information onto our new system and...

Technology - IT curse strikes again at Revenue. Online PAYE failure prompts flurry of angry calls and an apology from tax officials, writes Kevin Reed.
April 14, 2005... Accountants were thwarted for almost two days in their attempts to file PAYE returns online to the Inland Revenue, while payroll software providers were left to pick up the pieces. Accountancy Age fielded calls from accountants, fed up that...

Awards 2005 - Medium firm of the year AWARD.
April 14, 2005... You won't hear any medium-sized accounting firms being name-checked by politicians in the current election campaign but you will hear their clients being talked about. As the Rover affair demonstrates, politicians are willing to make exceptions...

The Debate - One world, one vision. Worldwide markets mean global qualifications are vital, says Chris Ward. Unity will boost our reputation, but only if sights are aimed high, argues Sean Holohan.
April 14, 2005... We now operate in a global marketplace, and this is driving the need for universal professional standards - and the global qualifications that can deliver them. Recently we have seen much greater market consolidation of professional...

Editorial - Rover's breakdown raises the same old questions.(Editorial)
April 14, 2005... Doesn't history have a habit of repeating itself? Five years ago in the 2000 Accountancy Age Awards, we shortlisted Jon Moutlon and John Millett in the Personality of the Year category. Back then Rover was hogging the business headlines....

The corridors of power ...
April 14, 2005... Byline: Jon Ashworth, business features editor at The Times. Anyone who doubts that business leaders have thick skins need look no further than Jack Welch, the US business hero who transformed General Electric in 20 years as CEO. Welch...

Letter - Meddle no more.(Letter to the Editor)
April 14, 2005... The ICAEW audit and assurance faculty has just issued a technical release - audit 01.05 - proposing that further paragraphs and disclaimers be added to the current well received and widely accepted accountants' report on unincorporated...

Letter - Thanks, but no thanks.(Letter to the Editor)
April 14, 2005... I suspect the clue to Paul Grand's failure to find a job lies in his words, 'many years' experience' (7 April, page 15). This doesn't get the right boxes ticked for the vast number of jobs where the 'ideal candidates has two to three years'...

Letter - No frills.(Letter to the Editor)
April 14, 2005... Take heart, Paul Grand, I am personally familiar with your problem (7 April, page 15). Having left one company after being headhunted into a one-year assignment, I expected getting back in would be a piece of cake. Was it, hell! I...

Letter - National interest.(Letter to the Editor)
April 14, 2005... Having a few clients who aren't on computerised payroll, I'm spending an interesting morning adding up P11s. The rates quoted in the national insurance manual of ER's 12.8% and EE's 11% are consistently rounded up. The true rates seem to be...

Letter - Into extra time.(Letter to the Editor)
April 14, 2005... The decision by the US Securities and Exchange Commission to delay the date by which overseas companies must comply with Section 404 of the Sarbanes-Oxley corporate governance legislation is good news for UK business (10 March, page 2). ...

Letter - Peace process.(Letter to the Editor)
April 14, 2005... I think Simon Ball (10 March, page 13) is confused about what defines conscience. To be moved by one's conscience is not the same as having a political belief or preference. As regards the government's inability to discern whether an...

Letter - Please sir, may I leave the institute? A reader is far from bowled over by ICAEW exit procedures.(Letter to the Editor)
April 14, 2005... Further to David Ball's problems with the ICAEW's administration (7 April, page 15) he was lucky that he did not attempt resignation. This process took around four months. During that period I had to confirm that I was not in...

Insider - Cloud on the pensions HOrizon. The pensions 'simplification' initiative will eliminate reams of confusing rules governing the pensions of high earners. Plenty more confusing rules will arrive on A-Day this time next year, writes Anthony Harrington.
April 14, 2005... One of the great ironies of the Inland Revenue's pensions 'simplification' initiative, which kicks in on 6 April 2006 (universally known as A-Day), is that simple it ain't. The new rules sweep away boatloads of old rules but, in the...

Insider - Profile: the FD behind Footballers' Wives and Bad Girls - Dramatic effect. Juggling the finances of a TV production company is a delicate matter of planning prudent growth without stifling creativity. Good financial management can even have an influence on major storylines, as Shed Productions FD Jonathan Kemp tells Nicholas Neveling.
April 14, 2005... Controlling the budget of a TV production is like curbing the spending of a teenager armed with a Barclaycard - a task that most financial types would be keen to avoid. For Jonathan Kemp, however, controlling the expenditure of creative types...

Insight: Territorial Army - Call of duty. Two years on since the outbreak of war in Iraq and the number of volunteer reserves in active service has increased enormously. Rachel Fielding reports from Kazakhstan on the true cost to business of employing reservists - and speaks to accounts already serving.
April 14, 2005... Your financial year end is looming, you are behind schedule and under pressure from the board to release figures early. Then your financial controller gives you 10-days', notice that he's been called up to serve in the Territorial Army in Iraq....

Services - Adviser: When two become one. When two practices merge, IT is a make or break issue. Careful management and planning will ensure it is a match made in heaven, says Mark holland.
April 14, 2005... Byline: Mark Holland, partner in the ISAS group of Baker Tilly. Mergers are nothing new. Most are driven by commercial opportunity or necessity. Admittedly, some are more challenging than others, none more so than that between the Inland...

Must try harder. Most accountants hand out a 'C' grade to Gordon Brown, when asked to rate his performance as chancellor in his second term.
April 14, 2005... Tony Blair may have used a pained press conference last week to describe Gordon Brown as the best chancellor for 100 years, but UK FDs are less impressed. Just 6% in this week's Accountancy Age/Reed Finance Big Question gave Brown a grade A,...

Accountants' identities stolen by fraudsters to win credit. Names and addresses are being stolen to provide false companies with good credit ratings, writes David Rae.
April 14, 2005... Accountants are being targeted by fraudsters, who are stealing their identities to legitimise the accounts of bogus companies in an attempt to win huge volumes of credit. The names of unsuspecting accountants are being used to verify bogus...

E&Y pours scorn on Equitable.(Ernst & Young UK, Equitable Life)(Brief Article)
April 14, 2005... Byline: Alex Hawkes. Ernst & Young will be dismissive of Equitable Life's [pounds sterling]2.05bn case against its auditors when it opens its defence in the High Court next week. The Big Four firm will say in its defence that the claim...

Big Four rivals to take stand. Expert witnesses from other Big Four firms will give evidence as Equitable case hots up, writes Alex Hawkes.(Ernst & Young UK sued by Equitable Life)(Brief Article)
April 14, 2005... As many as 10 accountants from three of the Big Four accountancy firms are expected to take the stand as part of Equitable Life's case against E&Y at the High Court. The case, which kicked off this week with Equitable outlining its claim,...

Rover and out? As a British institution looks set for collapse, unions urge PwC to demand government help.
April 14, 2005... Trade unions at the centre of negotiations at crumbling car manufacturer MG Rover have called on administrators PricewaterhouseCoopers to press the government to share the costs of potential large-scale redundancies and a pensions fund...

'Double dipping' boost cuts cost of GLO to Treasury. Advocate general's interim decision viewed as a partial victory, despite backing for M&S tax challenge, writes David Rae.(group litigation order)(Brief Article)
April 14, 2005... The Treasury has vastly reduced its estimates of how much it will have to repay companies as a result of European tax challenges, following last week's interim decision in the Marks & Spencer case. While advocate general Luis Maduro backed...

CBI worried over auditor AGM role.
April 14, 2005... Byline: Paul Grant. The Confederation of British Industry has voiced its apprehension to the department of trade over proposals to allow shareholders to question auditors during AGMs. The recommendation was one of four by the Audit...

Control issue stains carpet firm forecast.
April 14, 2005... Byline: Nicholas Neveling. Less than two months after listing on AIM, United Carpets Group is facing a financial control snag that could cost the retailer almost 10% of its forecast profits before tax and exceptionals. The...

US faces obstacles in path to international convergence. Standard setters pledge to achieve convergence but US says it 'isn't easy', writes David Rae.
April 14, 2005... American standard setters have admitted that there are still obstacles to be overcome as part of the country's drive to converge US GAAP with international accounting standards. Speaking at the ICAEW's annual Brussel's conference, Gary...

Analysts critical of IFRS disclosures.
April 14, 2005... Byline: Nicholas Neveling. Leading analysts have warned companies to improve the quality of information provided on IFRS or face the consequences of uninformed investors creating market pessimism. Peter Elwin, head of accounting and...

Finance week - Support grows for IAS39. Treasurers begin to see benefits from controversial standard, writes Nicholas Neveling.
April 14, 2005... Corporate treasurers, the professionals bearing the brunt of the introduction of IAS39, have thrown their full support behind the standard despite an onerous implementation phase and concerns about some technical details. Representatives...

Finance week - Company Reports.
April 14, 2005... Brian Wallace, the FD of the Hilton Group, saw his pay increase from [pounds sterling]868,000 in 2003 to [pounds sterling]1.42m for 2004. Wallace, also the hotel and gaming company's deputy chief executive, took home [pounds sterling]470,000 in...

Taking Stock - My other car's a Lamborghini.(Brief Article)
April 14, 2005... On bad days, TS tends to wonder what on earth it is doing in a job that involves writing about IAS39 and the thrilling issue of tax on white vans, with the year's highlight being a bet on how long the chancellor's Budget speech will last. ...

Taking Stock - Secret ambitions.
April 14, 2005... Sometimes, TS drifts off into its own little world where we are receiving the Pulitzer prize for our expose on how the Big Four makes all its money from massage parlours (that's a joke, by the way). But we're usually awoken to go on the tea run...

Taking Stock - I pity the (celebrity) fool ...(John Green of forensic accounting )(Brief Article)
April 14, 2005... In its youth, TS used to hang around with other comedy back-page types and pretend to be a band of heroes, usually the A-Team (TS played 'mad' Murdoch in case you were wondering). Those flights of fancy are long behind us. But one...