No. 2007, December - September 2007
Index
- Collaborative projects around the world keep CIMA at the cutting edge of innovation.
- Strategic risk is the main threat to shareholder value, but too many firms are still failing to grasp this nettle.
- The importance of both long-term planning and rapid flexibility cannot be overstated.
- The transformation of finance creates more opportunities than threats for CIMA professionals.
- At variance ...
- British bias.
- Efficiency driver.
- Expression of interest.
- Irony supplement.
- Keeping it clean.
- Mature reflections.
- New and improved.
- Penalty zone.
- Quack shot.
- Qualified approval.
- Tabloid taste.
- Trading futures.
- Budget busters.
- CIMA has warned that companies around the world are putting their competitive position at risk by failing to transform their finance functions to improve decision-making at every level.
- Cut along the bias.
- Ding-dong merrily ...
- Don't bank on butterflies.
- Employees working for British Land are expected to live eight years longer than their counterparts working for Whitbread, but this has little to do with corporate health policies.
- Governments in developing nations are increasingly using technology to support their economic and social development aims, according to the Economist Intelligence Unit.
- IFAC is hosting its 2007.
- Keegan's win.
- Learning how to value a company or appraise a capital expenditure are just two subjects in CIMA's new range of online courses.
- Market testing.
- PAYE for http?
- PKF Accountants has published guidance entitled "IFRS Illustrative Accounts for AIM Companies 2007" for all companies preparing their first annual accounts under IFRS for the year ended December 31, 2007.
- Stage fright.
- Stephen Jenner FCMA, director, Criminal Justice Information Technology, has been presented with the 2007 civil service award for financial management in recognition of his department's successful approach to portfolio and benefits management.
- The Financial Action Task Force.
- The International Federation of Accountants.
- The Organisation for Economic Co-operation and Development.
- The UK government has announced a 12-month delay to new provisions in the Companies Act because Companies House systems and processes will not be able to meet its original deadline of October 1, 2008.
- The University of York is to offer accelerated masters degrees for CIMA members, aiming particularly at those working in the public sector or healthcare.
- Why gut reactions rule.
- World Bank endorses CIMA project.
- CIMA has published a new technical report, "In-year financial forecasting in the NHS", aimed at finance professionals in the health service.
- CIMA's hot ticket.
- Emerging markets are closing the gap on developed countries in the race for international acquisitions, according to KPMG's emerging markets international acquisitions tracker.
- Environmental and corporate responsibility is the number-one investment priority for UK.
- Freestyling FCMA conquers channel.
- Frequent fryers?
- Ighodaro makes power list.
- India is now the second-largest contributor of foreign direct investment (FDI) to London.
- Leading economists agree to differ.
- Pension penalty.
- Shortlist announced for CIMA Financial Management Awards 2007.
- Soundbites.
- Why SMEs should think global, too.
- Laurence Yuen FCMA: authorised representative and joint company secretary, Shanghai Jin Jiang International Hotels (Group).
- Stephen Wilson FCMA: chief financial officer, UK, Ireland and South Africa, IBM.
- The 2007 CIMA financial management awards.
- CIMA is inviting proposals for research.
- Making a veld of difference.
- The UK Cabinet Office has opened a consultation on a new 10m £ risk capital investment fund for social enterprises.
- Vive la difference.
- CIMA has responded to the Accounting Standards Board's consultation paper, "IASB ED of a proposed IFRS for SMEs", and to the Financial Reporting Council (FRC) on its proposal to encourage the voluntary disclosure of qualified audit reports.
- Exam results update.
- Homicide law enacted.
- Moulton and Laffin for conference.
- Nick Topazio, head of financial reporting at CIMA, will be speaking at IFRS 2007/8, a symposium for FDs and controllers, analysts and investors at the Marriott Grosvenor Square, London, on October 4.
- The ASB has published financial reporting exposure draft 21: "Related-party disclosures", which contains proposals to replace the UK standard FRS8 with a standard based on IAS24.
- The OECD has released two reports on private equity and hedge funds.
- The UK Office of the Third Sector is consulting on the extension of independent examination to small charitable companies, group accounts for charities and the reporting of public benefit in trustees' annual reports.
- Director debit: Northern Rock's board has been portrayed as the villain of the piece, but it's unfair to blame it for everything and accuse it of immorality, writes Ruth Prickett, If anything, it was guilty of underestimating the media's ability to whip up a panic.
- Heroes and zeros: Mike Brooks urges the management accounting profession to enlist for the front line in the war against innumeracy and--arguably an even deadlier enemy--"dishonest numeracy".
- Ian Flavell FCMA: finance director, Castle Cement.
- Philip Yea FCMA Chief executive, 3i.
- Going downhill fast: Danielle Cohen shares the true story of a CIMA member who contacted the institute's ethics helpline for advice, His problem stemmed from allowing what seemed, on the face of it, a minor issue to snowball into a job-threatening situation.
- Total equality management: it's all too easy to fall foul of an expensive discrimination claim, since a complainant needn't prove that they were intentionally treated unfairly. Sue Ashtiany advises firms to tighten up their recruitment practices.
- Ad nauseam: as consumers, our purchasing behaviour is becoming ever more sophisticated and discerning, writes Ruth Prickett. So why do so many companies continue to risk alienating us with their intelligence-insulting television commercials?
- Analyse this: it's an unwise plc that fails to engage with the investment community, but many companies still communicate poorly and then wonder why they're given unfavourable valuations. Scott Payton explains what the analysts really want from you--and how best to give it to them.
- Mates' rates: politicians will continue applying sloppy logic to research statistics if the more numerate among us don't challenge them, writes Ruth Prickett, who casts a critical eye over a recent policy announcement on marriage benefits.
- Shipping forecast: as East Asian factories multiply and more ports worldwide reach capacity, Charles Orton-Jones spots a storm brewing. How will your business fare if it has to wait for its ship to come in?
- Crying foul: when a takeover bid reported as "hostile", it's likely that the target company's directors are facing a conflict of interests. After all, writes Mike Brooks, it takes a brave turkey to vote for an early Christmas.
- From open season to open sesame: private equity firms have realised that self-imposed glasnost today could prevent further censure and tighter regulation tomorrow. Danielle Cohen analyses an industry with a big public relations job on its hands.
- Private equity: a debt to society?
- The yin crowd: those of us who have spent our careers treating management as a science might find the application of methods such as astrology in business alarming, writes Scott Payton. But more and more firms are using them--even though few are ready to admit it.
- National ELF service: Ruth Prickett charts the genesis of an innovative shared service centre providing accountancy services for NHS trusts in north-west England.
- Can you keep a secret? As a result of key decisions by the UK's information commissioners, firms competing for public contracts could routinely use the law to extract sensitive data on rival bidders. As "the public interest" increasingly outweighs the case for confidentiality, Neil Hodge considers how to shield your affairs from prying eyes.
- Lobby correspondence: the investment community's appetite for non-financial information has never been so voracious. In order to assure itself that companies' actions match their CSR rhetoric, it now wants them to report on what they are doing to persuade legislators to act in their interests. Scott Payton explains the implications of this trend.
- Carbon dating: the UK government's new carbon reduction commitment is the first mandatory auction-based trading scheme of its kind in the world. Defra's Leanne Jones explains the implications for business.
- Different class: Jo Holmes explains The CIMA difference and what it means for members, students and employers.
- Business drivers: Michael Crompton explains how the UK Bus company successfully implemented a CPD support scheme for its financial professionals.
- Conversion course: Natalie Gordon offers her plan for surviving and thriving during an organisational change programme--as both a leader and a follower.
- Hot spots: Martin West and Kate Terriere offer advice on how to benefit from susta nable property performance.
- A favourable variance: CIMA's chief executive, Charles Tilley, recently addressed HM Treasury's advisers' conference in his capacity as chairman of its best-practice advisory panel on financial management, In the following edited extracts of his presentation he proposes a change of culture throughout Whitehall and explains how it can be achieved.
- Customer profitability: Liz Murby explains why a strategy of keeping every one of your customers satisfied is unlikely to optimise your bottom-line results.
- Practice makes perfect: Mark Allen offers a personal perspective on the rigours and rewards of working as a CIMA member in practice.
- Reporting: studies suggest that high-quality narrative reports can give your company a real competitive edge, Garry Honey offers advice on improving how you present non-financial information to investors.
- Oratory lab: Khalid Aziz explains how you can become a more confident and effective public speaker.
- Month-end reporting: Mike Ashwell offers his guide to making the process more efficient.
- Strategic global management: in the first of two articles, Louise Ross explains the development of an open, collaborative and effective new organisational form: Business 2.0.
- Transforming finance: a CIMA forum has warned business leaders that a failure to change their finance functions could harm their competitiveness.
- Finance business partnering: Noel Cullen and Shetal Patel explain why effective business partnering can be an elusive goal--and offer their tips on how to make it work.
- IAS39: Patricia Teixeira Lopes examines the complexities of the standard using the example of accounting for hedging strategies in the electricity futures market of Spain and Portugal.
- Islamic finance: firms seeking a slice of the growing Muslim market would be well advised to learn its complexities inside out, writes John Willsdon--which is where the CIMA certificate in Islamic finance comes in.