Financial Director articles from January 2007

Financial Director archives from January 2007

Search to quantify quality.(Financial Reporting Council to check quality of auditing)
January 4, 2007... Byline: Peter Williams search to quantify quality If the FRC wants to ensure audit quality, it must first define a standard against which performance can be assessed The Financial Reporting Council (FRC) is on a mission to discover...

Report card.(generally accepted accounting principles)
January 4, 2007... Byline: Peter Williams report card Conversion to IFRS has been a relative success and worth all the pain. But there's still lots of work to do How was it for you? The question which finance directors must have been dying to...

Victims of their own success.
January 4, 2007... Byline: Peter Bartram victims of their own success More than 1,000 European private equity deals were completed in 2006 alone. But many are beginning to question whether their methods are really in the longer term interests of...

Private matters.(private companies)
January 4, 2007... Byline: Robert Bruce private matters Private companies give more information to their investors than public companies, but publish less Sell in May and go away, used to be the mantra of a more leisurely class of stockbrokers....

Rightbalance?(intangible assets of corporates)
January 4, 2007... Byline: Jane Simms rightbalance? Intangible assets like brands and people are not being accounted for. But is the balance sheet the right place? words jane simms illustration David lyttleton The recent broadside launched by...

New law helps fight on fraud.
January 4, 2007... Byline: Neil Hodge new law helps fight on fraud Where others have flattered to deceive, the new Fraud Act should make it easier to secure a conviction The Fraud Act 2006, which establishes new criminal laws to assist in the...

Pensions deficit of FTSE-100 companies.
January 4, 2007... Byline: david rae The pension deficits of FTSE-100 companies in 2006 showed huge monthly volatility with a low of [pounds sterling]24bn and a high of [pounds sterling]61bn, but were still expected to finish the year lower than they did in...

Service with a smile.
January 4, 2007... Byline: Alex Blyth service with a smile Traditional methods of measuring customer satisfaction can be inaccurate and sometimes misleading, but with your business's success and reputation at stake it pays to get your research right,...

The rise in intangible value.
January 4, 2007... Byline: Jane Simms The rise in intangible value The rise in intangible value is made explicit in Brand Finance's Global Intangible Tracker 2006, published in December. The report, which covers 5,000 companies in 25 countries, found...

European companies feel misunderstood.(Brief article)
January 4, 2007... Byline: David Rae European companies feel misunderstood Less than a quarter of European listed companies believe that their recent performance is reflected in their share price, with just 16% believing that analysts really understand...

Last Hurrah.(pre-budget report)
January 4, 2007... Byline: Dennis Turner last hurrah The Chancellor may have a good forecasting record, but his predictions for next year seem overly optimistic It was generally expected that the pre-Budget report (PBR) was going to be boring and...

Female managerial jobs lead labour market.
January 4, 2007... Byline: David Rae Female managerial jobs lead labour market growth According to research carried out by the Work Foundation, relatively well-paying managerial, professional and semi-professional jobs have grown faster than any other...

US regulatory merger criticised.(NYSE Regulation of NYSE Group Inc. acquires National Association of Securities Dealers)
January 4, 2007... Byline: John Sterlicchi US regulatory merger criticised Claims that a single regulatory body for US brokerages will result in more efficient oversight are regarded by many as a smokescreen for larger firms that want to increase their...

Pensions bill lacks detail.
January 4, 2007... Byline: Anthony Harrington pensions bill lacks detail The government is still in consultation over the creation of a delivery authority to implement the individual personal savings plan, writes Anthony Harrington The government's...

Central banks settle for temporary victory.
January 4, 2007... Byline: David Kern Central banks settle for temporary victory Sharp differences of view between financial market pessimism over growth prospects and continued concern with inflation from the central banks, appear to have been settled...

The green costcode.(environmental tax)
January 4, 2007... Byline: Rachael Singh thegreen costcode Finance directors are both willing and able to help with the environmental challenge. But, as our survey shows, there are many hurdles ahead words Rachael singh additional reporting...

Uh-oh-seven.
January 4, 2007... Byline: David Rae Uh-oh-seven Bedding down IFRS, preparing for an onslaught of regulation and a US economic slowdown are just some of the challenges facing finance directors in 2007. At least they expect the FTSE to perform well ...

Switch off.(computer in office when leaving)
January 4, 2007... Byline: David Rae switch off If saving the planet isn't enough to change your habits, then what about improving the bottom line There is something deeply annoying about arriving at work in the morning and switching on the...

Stand & deliver.(Ashmore Investment Management)
January 4, 2007... Byline: Andrew Sawers Stand& deliver Ashmore Group FD Jim Pettigrew is not one to get over-excited, but his results will be anything but dull words andrew sawers photography nick sinclair Jim Pettigrew likes to be...

curriculumvitae.
January 4, 2007... Byline: Andrew Sawers curriculumvitae Name Jim Pettigrew Age 43 Qualifications LLB, DipAcc, CA, MCT Career 2006- Chief operating and financial officer, Ashmore Group plc 1999-2006 Group FD, ICAP (announced...

Windsofchange.
January 4, 2007... Byline: David Rae Windsofchange Jonathan Pope, a director of energy consultancy CP Energy, works with companies to reduce their carbon footprint. He says both Nissan and GlaxoSmithKline have erected wind turbines. "In the right...

Capital's market.
January 4, 2007... Byline: Andrew Sawers the capital's market A FTSE-250 financial services company with a unique technology platform is in danger of being taken over by a US rival. This news would merit a few column-inches in the City press but, subject...

Technical update.( tax avoidance schemes closed)(International Accounting Standards Board issues a report on fairvalue)(Accounting Standards Board issues standards on reporting)
January 4, 2007... Byline: Andrew Sawers technical update financial reporting For the second year, the Financial Reporting Review Panel will be prioritising its efforts on the retail and utility sectors in its risk-based approach to monitoring...

Serious Fraud Office.
January 4, 2007... Byline: David Rae The Serious Fraud Office gave Tony Blair an early Christmas present when it sensationally dropped its inquiry into bribery allegations against BAE Systems. The decision, announced by Lord Goldsmith, the attorney-general,...

Up in smoke.
January 25, 2007... Byline: John Maslen up in smoke Smoking is already an expensive habit, but it could prove even more costly for companies that aren't prepared for new rules A blanket ban on smoking in public places in England, Wales and Northern...

fuel duel.
January 25, 2007... Byline: John Maslen fuel duel Can a business save the planet and save money at the same time? It's easier than finance departments might think If a company uses fewer resources, it stands to reason that it should have lower costs,...

What's ahead.
January 25, 2007... Byline: John Maslen what's ahead? The Chancellor's pre-Budget report leaves fleets in limbo as the Treasury investigates the green credentials of ECO schemes The Chancellor of the Exchequer has thrown a cloud over more than...

Unkind benefits.(Motor vehicle drivers)
January 25, 2007... Byline: John Maslen Unkind benefits Changes in benefits-in-kind taxation could see taxpayers' bills soar, with companies also facing higher National Insurance costs In 2007, major tax changes will send benefit-in-kind costs...

Price is wrong.
January 25, 2007... Byline: Tony Harrington price is wrong Road congestion is costing businesses millions every year. But is a national road pricing scheme really the answer? For some time now the government has been paving the way for a new approach...

Back to basics.(financial directors)
January 25, 2007... Byline: Peter Williams back to basics FDs spend too much time in the public eye rather than focusing on the most basic fundamentals Running a finance department has never been an easy task. Even when it was a matter of...

SEC eases listings requirements.
January 25, 2007... Byline: Peter Bartram sec eases listing requirements FDs with ambitions to list their companies in the US -- or who have already done so -- should raise a cheer or two for the SEC's latest proposals on deregistration and financial...

Inward bound.
January 25, 2007... Byline: Dennis Turner inward bound The benefits of foreign direct investment extend far beyond helping address the balance of payments deficit Over the last few years, inflation has become the number on which economic analysts and...

Managing the flow.(financial directors)
January 25, 2007... Byline: Peter Williams managing the flow Unlocking the financial flows in a company's supply chain will drive growth and improve liquidity, giving them a competitive advantage -- and it could help keep private equity firms away, writes...

Eu Extends eastern boundary.
January 25, 2007... Byline: Neil Hodge eu extends eastern boundary Bulgaria and Romania may have met the economic criteria for joining the EU, but can they attract foreign investment? On 1 January 2007 the European Union welcomed another two countries...

Anti-inflation stance heightens risk of overkill.
January 25, 2007... Byline: David Kern Anti-inflation stance heightens risk of overkill As recession fears have faded, US and UK central banks have adopted forceful anti-inflation postures. But tight monetary policies could worsen growth prospects,...

FTSE-350 still failing 'comply or explain' test on combined code.(Brief article)
January 25, 2007... Byline: David rae FTSE-350 still failing 'comply or explain' test on combined code Two-thirds of the UK's 350 biggest companies still don't claim full compliance with the provisions of the combined code of corporate governance,...

XBRL unbowed by peer pressure.
January 25, 2007... Byline: Robert jaques XBRL unbowed by peer pressure Apart from providing more accurate and complete financial information for improved forecasting, XBRL tagging will let companies perform cheaper and faster peer-to-peer benchmarking,...

Day in day out.
January 25, 2007... Byline: Robert Bruce day in day out Technology is making daily reporting more accessible. But is it really in the shareholders' or FDs' interest? Pity the poor finance director. What started as a small point within a larger...

London top destination for IPOs.
January 25, 2007... Byline: David Rae London top destination for IPOs A strong final quarter made 2006 a record year for European IPOs, with London finishing top of the league table. Research by PricewaterhouseCoopers, which tracks the volume and...

No cross-border consistency in IFRS uptake.
January 25, 2007... Byline: David Rae No cross-border consistency in IFRS uptake Research by KPMG's International Financial Reporting Group has found that the application of IFRS is more influenced by the companies' country of domicile and previous...

The true value of an expert.(share valuations by experts)
January 25, 2007... Byline: Neil Hodge the true value of an expert An expert may be needed to put a value on a company's shares. Their decision can be binding -- even if it's wrong Parties to share sale agreements should be careful to ask an expert...

Decisions intro.(Smoking bans, Toll roads, Motor vehicle drivers)(Brief article)
January 25, 2007... Byline: David Rae Beside one of the main arteries into London, there is a painted message for the luckless commuters who crawl into the capital each morning. "Why do I do this every day?" it once read. It has since changed to read, "Why do...

handbags &gladrags.
January 25, 2007... Byline: Andrew Sawers handbags &gladrags Burberry CFO Stacey Cartwright isn't 'bovvered' about the recent chav problem. She's much more concerned about breathing new life into a brand in transition words: Andrew sawers...

fittoburst?(dotcom companies)
January 25, 2007... Byline: David Rae fittoburst? The dotcoms of the pre-boom days have matured. But Silicon Valley is buzzing with a new breed of startup -- have lessons been learned? words David Rae Eight years ago, at the height of the...

Mayflower FD cleared. But why?
January 25, 2007... Byline: David Rae mayflower fd cleared. But whY? independent litigation A negligence claim worth $173.6m was handed to accountancy firm Moore Stephens in one of the largest examples of a lawsuit brought by independent litigation...

Technical update.(Accounting Standards Board)(European Commission)(The Hundred Group of Finance Directors')
January 25, 2007... Byline: Andrew Sawers technical update Financial reporting The Accounting Standards Board published its first review of companies' narrative reporting in January, to study best practice in relation to the ASB's operating and...

taxation sans frontieres.
January 25, 2007... Byline: Andrew Sawers taxation sans frontieres Life would be easier if all you needed for a corporate tax strategy was the ability to work out what 30% or 35% of any number is. But life is rarely easy, especially when it comes to tax....

Platic future.
January 25, 2007... Byline: David Rae plastic future We've all heard about the paperless office before, but this time there's a chance it could really happen With any luck you'll still be reading Financial Director in five years' time. The thing...

Mayflower FD cleared. But Why?(Mayflower Corporation PLC, David Donnelly, finance director)(Brief article)
January 25, 2007... Byline: David Rae David Donnelly (pictured), the former finance director of collapsed bus-maker Mayflower, was cleared of any wrong-doing by a disciplinary tribunal. The tribunal, hearing the UK's first public disciplinary complaint, also...

Key performance indicators for financial flows.(Brief article)
January 25, 2007... Byline: Peter Williams Key performance indicators for financial flows n Days of working capital (DWC) = (working capital/annual revenue) x 365 (where working capital = current assets minus current liabilities) n Days of inventory...

Apple Current share price $96.56 Current market cap $82.97bn Latest annual turnover $19,315m Latest net profit (loss) $1,989m EPS $2.27 Price/sales ratio 4.3 Price/earnings ratio 42.5 Number of staff 17,787 As the manufacturer of the iPod, probably.(Financial report)
January 25, 2007... Byline: David Rae Apple Current share price $96.56 Current market cap $82.97bn Latest annual turnover $19,315m Latest net profit (loss) $1,989m EPS $2.27 Price/sales ratio 4.3 Price/earnings ratio 42.5 ...

Google Current share price $511.76 Current market cap $156.68bn Latest annual turnover $6,138.6m Latest net profit (loss) $1,465.4m EPS $7.86 Price/sales ratio 25.5 Price/earnings ratio 65.1 Number of staff 5,680 The undisputed darling of the dot.(Financial report)
January 25, 2007... Byline: David Rae Google Current share price $511.76 Current market cap $156.68bn Latest annual turnover $6,138.6m Latest net profit (loss) $1,465.4m EPS $7.86 Price/sales ratio 25.5 Price/earnings ratio...

Time Warner Current share price $22.82 Current market cap $90.65bn Latest annual turnover $43,652m Latest net profit (loss) $2,921m EPS $1.14 Price/sales ratio 2.1 Price/earnings ratio 20 Number of staff 87,850 When AOL announced it was to.(Financial report)
January 25, 2007... Byline: David Rae Time Warner Current share price $22.82 Current market cap $90.65bn Latest annual turnover $43,652m Latest net profit (loss) $2,921m EPS $1.14 Price/sales ratio 2.1 Price/earnings...

Second Life Current share price n/a Estimated value $50m-$100m Estimated turnover $10m-$20m Latest net profit (loss) n/a EPS n/a Price/sales ratio n/a Price/earnings ratio n/a Number of staff 100 Some things are beyond logical comprehension. Whil.(Financial report)
January 25, 2007... Byline: David Rae Second Life Current share price n/a Estimated value $50m-$100m Estimated turnover $10m-$20m Latest net profit (loss) n/a EPS n/a Price/sales ratio n/a Price/earnings ratio n/a Number...