Financial Executive back issues from October 2007:
XBRL--will it change the paradigm?(president's page)
Oct 01, 2007; ... US. Securities and Exchange Commission (SEC) Chairman Christopher Cox has set a path towards a revolution in financial reporting. He has propelled the implementation of worldwide accounting information unification through his efforts to encourage the development of extensible Business ...
Editor's page.
Oct 01, 2007; ... Innovation is a key engine of growth, but it frequently sputters if the financial fuel is too lean or the "newness" of the products is oversold and they are really glorified line extensions. In our cover story, two consultants from Archstone Consulting argue that CFOs have as much ...
Cash usage changes examined in report.(CASH MANAGEMENT)(Brief article)
Oct 01, 2007; ... In a new study, Thomson Financial examined how S & P 500 companies use cash flow, how the use of cash varies by sector and how cash use trends have evolved over the past 10 years. The report also examines the pros and cons of various cash use strategies. Thomson found that the ...
Study: companies strain to service employees.(TECHNOLOGY)(Survey)
Oct 01, 2007; ... Large organizations are increasingly finding revenue, productivity and innovation are at stake based on how effectively they help their employees use technology and fix it when it breaks, according to a Unisys Corp. study of end-user technology service practices at about 250 North American ...
Environmental concerns sway attitudes.(WORKPLACE)(Brief article)
Oct 01, 2007; ... Employees who are satisfied with their employer's concern for the environment are more likely to take pride in their jobs--a key factor in increasing the engagement of workers, according to research by Sirota Survey Intelligence, an attitude research firm. However, the level of ...
Family issues critical to overseas relocation.(INTERNATIONAL)(Survey)(Brief article)
Oct 01, 2007; ... Family factors are twice as important as any other reason for employees to refuse overseas relocation assignment, according to global relocation company Cartus. As a result, and because overseas assignments of all types continue to surge, Cartus believes the very face of the overseas ...
Workers' attitudes sour on employers' offerings.(BENEFITS)(Statistical table)(Brief article)
Oct 01, 2007; ... Fewer U.S. workers are satisfied with health care and retirement benefits, as well as career prospects, at their present employer compared to three years earlier, according to Sibson Consulting's latest Rewards of Work survey. "The reasons for this change include rising health ...
Larger organizations sense more urgency.(COMPLIANCE)(Brief article)
Oct 01, 2007; ... Today's regulatory environment--as defined by regulations like the Sarbanes-Oxley Act, Basel II (financial services) and HIPAA (healthcare)--doesn't differentiate between data center and remote office data. Regulations require companies to secure remote office/branch office (ROBO) data, ...
CPAs in companies back leadership role.(PUBLIC POLICY)(Survey)(Brief article)
Oct 01, 2007; ... Many CPAs serving as C-suite financial executives say corporate America should play a leadership role in national policy issues such as healthcare, Social Security and the environment. In fact, according to a survey by the American Institute of Certified Public Accountants ...
In quotes.(in brief)(Quotation)
Oct 01, 2007; ... "Remember, there are no rules here--we are in uncharted territory." --Morgan Stanley analysts, reacting to the ...
ERM seen emerging as key board issue.(RISK MANAGEMENT)(Survey)(Brief article)
Oct 01, 2007; ... With a wave of leveraged buyouts (LBOs) hitting U.S. companies, enterprise risk management (ERM) has moved to the forefront of issues facing boards of directors and general counsels. That's according to the seventh annual legal study from Corporate Board Member magazine and FTI Consulting ...
Damage Control: Why Everything You Know About Crisis Management is Wrong.(bookshelf)
Oct 01, 2007; ... Damage Control: Why Everything You Know About Crisis Management Is Wrong. By Eric Dezenhall and John Weber. Portfolio, 212 pages. $24.95. Authors Dezenhall and Weber should be saluted for writing clearly and directly about damage control, a subject often dimmed by obfuscation ....
Mobilizing Minds: Creating Wealth from Talent in the 21st Century Organization.(bookshelf)(Brief article)
Oct 01, 2007; ... Mobilizing Minds: Creating Wealth from Talent in the 21st Century Organization. By Lowell L. Bryan and Claudia I. Joyce. McGraw-Hill, 317 pages. $29.95. Leave it to the folks at McKinsey & Co. to produce a "deep-think" book about corporate structure and how it can be adapted ...
IT and the East: How China and India Are Altering the Future of Technology and Innovation.(bookshelf)(Brief article)
Oct 01, 2007; ... IT and the East: How China and India Are Altering the Future of Technology and Innovation. By James M. Popkin and Partha Iyengar. Harvard Business School Press, 224 pages. $35. It's common wisdom that, as the authors argue, "the center of gravity in the technology world has ...
Should U.S. private companies use IFRS for SMEs?(financial reporting)(Financial Reporting Standard)(Small and Medium-sized Entities)
Oct 01, 2007; ... The International Accounting Standards Board (IASB) has released an exposure draft (ED) to adopt a simplified, self-contained International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs). IFRS for SMEs is less than 15 percent of the size of full IFRS ...
Considering an IPO?(private companies)(initial public offering)
Oct 01, 2007; ... Are you a private company thinking of launching an initial public offering, or IPO? You're likely to have a considerable amount of company. After the number of filings dipped from an all-time high in 1999 of 486 to a low of 68 in 2003, filings for IPOs are once again rising. In ...
Better cash flow from improved cash management tools.(treasury)
Oct 01, 2007; ... No financial discipline is more important, and more misunderstood, than cash management. There are tools available to help businesses understand and implement cash management strategies, including how to maximize cash flow, assess their current cash position and evaluate investment account ...
Jury is out on impact of AS5: while hopes are high that Auditing Standard 5 will sharply reduce audit costs, no one knows for sure. And success at multinational giants won't necessarily carry over to smaller companies.(AUDIT)(Auditing Standard No. 5)
Oct 01, 2007; ... The corporate financial reporting world is holdings its collective breath as companies begin to talk to their auditors about Auditing Standard 5 (AS5), the tool that is supposed to whittle down excessive Sarbanes-Oxley auditing costs. The Public Company Accounting Oversight Board (PCAOB) ...
Audit committee to CFO: can we talk? Audit committees want much from CFOs. Characteristics topping the list include integrity, honesty, knowledge of the business and industry and guts. Most of all, they want the CFO to communicate--the good news, bad news or in between.(BOARDS OF DIRECTORS)(Chief Financial Officer)
Oct 01, 2007; ... CFOs, who likely hadn't thought much about communications as they crammed in finance and accounting courses, are likely to be finding that one of the toughest parts of their current job is communicating with their board of directors. This is especially so post-passage of the Sarbanes-Oxley ...
How CFOs should tackle a restructuring: in a restructuring situation, the CFO plays a pivotal role in meeting stakeholder expectations. A turnaround specialist outlines some of the areas that should be considered before you find yourself in the middle of a crisis.(RESTRUCTURING)
Oct 01, 2007; ... CFOs of public or private companies are more responsible, and ever more at risk, with respect to the expectations of a company's stakeholders, whether equity or debt. If expectations are not met, the company may face an amendment in credit facilities, a refinance, a "troubled debt ...
How to succeed at succession: in an interview, a consultant talks about approaches companies should and shouldn't take to build their internal capabilities and nurture future leaders--or find outside talent.(SUCCESSION)(a talk with Passages Consulting LLC's Ron Carucci)(Interview)
Oct 01, 2007; ... There are no magic formulas to succession, whether it's at the CFO or CEO level or further down in the organization. It's often postponed or given short shrift in smaller companies where managers are so focused on the day-to-day challenges of running the business that the future simply ...
Finance's key role in new product development: successful innovation is as much about portfolio management, resource allocation and business analysis as it is about breakthrough ideas. Finance may be in the best position to provide the tools, discipline and insight needed to succeed by providing "innovation insurance.".(Cover story)(Company overview)
Oct 01, 2007; ... At this moment in time, the innovation imperative has never been stronger--particularly at consumer-goods companies where new products are the engine that drive growth and, along with it, shareholder return. [ILLUSTRATION OMITTED] Consumer and retailer demand for new ...
Curbing the 'shop til you drop' habit: "a budget tells us what we can't afford, but it doesn't keep us from buying it," said American author William Feather. If he were alive now, he might change his tune, since we now have technology tools and policies that can curb employee spending.(EXPENSE MANAGEMENT)
Oct 01, 2007; ... Call it the yin and yang of finance in a thriving small or mid-sized business. Company executives are focused on two primary areas: growing revenues and managing expenses. Whether business is booming, growing at a manageable rate, or facing financial challenges, top executives know that ...
Preparing tomorrow's workforce: as companies struggle to develop adequate levels of accounting, finance and audit professionals from a shrinking talent pool, ensuring those in the pipeline are well-equipped to meet the challenges is a primary concern. A diversified group met to address these issues and offer solutions.(WORKFORCE ISSUES)
Oct 01, 2007; ... From increased globalization to growth in offshoring, new business trends have raised the bar for the repertoire of skills expected of both today's and tomorrow's accounting, finance and audit professionals. According to the Robert Half International Financial Leadership Council, which met ...
Advantages of tax-aligning the supply chain: powerful results can be achieved when international tax planning efforts are aligned with initiatives to improve supply chain operations.(INTERNATIONAL TAX)
Oct 01, 2007; ... The supply chain is the coordinated system of people, processes and technology that an organization uses to plan for and carry out the manufacturing and/or distribution of goods. Because the supply chain can easily account for 75 percent of an organization's total spending, even relatively ...
Working capital management: driving additional value within AP; Treasurers typically face the dilemma of trying to balance early payment discounts with maximizing float from short-term cash. Adding a purchasing card settlement capability within an EIPP program can be a major help.(CASH MANAGEMENT)(Accounts payable)
Oct 01, 2007; ... Regardless of the economic climate, companies are always seeking new and innovative ways to reduce costs and increase revenues. One approach attracting attention from leading financial executives lately involves maximizing working capital--or extracting more value from short-term cash. ...
Lumigent Technologies.(AUDIT SOFTWARE)
Oct 01, 2007 ... Lumigent Technologies has introduced a new version of its flagship Audit DB product that delivers a database security and compliance system that supports all three common methods of data collection in a single, unified platform. Until now, the company claims, organizations ...
Maxager Technology.(PROFIT MAXIMIZATION)(Brief article)
Oct 01, 2007 ... Maxager Technology, a provider of enterprise profit optimization (EPO) solutions, has released Maxager 7.5. This latest version of Maxager's Software as a Service (SaaS) solution enables manufacturing executives to easily view key business performance measures based on Maxager's unique ...
Oracle Corp.(DATABASE SOFTWARE)(Brief article)
Oct 01, 2007 ... Oracle Corp. has introduced Oracle[R] Database 11g, the latest release of the popular database. With more than 400 features, 15 million test hours and 36,000 person-months of development, Oracle Database 11g "is the most innovative and highest-quality software product Oracle has ever ...
FXpress Corp.(TREASURY)
Oct 01, 2007 ... FXpress Corp., a treasury software provider, has announced the release of FIRST S7, the latest version of the company's Web-based treasury solution for corporations worldwide. FIRST S7 enhancements benefit users through increased hedge accounting validation, using regression analysis ....
American Express Co.(ELECTRONIC PROCUREMENT)
Oct 01, 2007 ... Following on the launch of its S2S (Source-to-Settle) suite in April, American Express Co. has launched two new organically developed S2S solutions that it says were derived from its success at paring $1 billion from its own procurement costs over the past five years. Amex says ...
Washington poised to tackle complexity in reporting.(washington insights)
Oct 01, 2007; ... In May, this column reported on the recent activities in Congress focused on market competitiveness and complexity in financial reporting. It ended with the following: " ... at the heart of it all is that it is time for action. There is a need to form an independent committee to study the ...
New inductees Jones and Siegel to be honored in N.Y.(FEI HALL OF FAME)
Oct 01, 2007 ... Financial Executives International (FEI) announced that Thomas Jones and Samuel Siegel have been selected as inductees for the 2007 class of the FEI Hall of Fame. Jones is vice chairman of the International Accounting Standards Board (IASB) and Siegel is the former vice chairman, CFO, ...
New Orleans meets: first time since Katrina.(CHAPTER NEWS)(Brief article)
Oct 01, 2007 ... On August 22, FEI's New Orleans Chapter held its first meeting in two years, since Hurricane Katrina wreaked havoc in its city and among its members. Seven members--six of whom were former New Orleans Chapter presidents--attended a joint meeting with the local Turnaround Management ...
FEI member Moyer participates in AAA program.(MEMBER NEWS)(American Accounting Association)(Brief article)
Oct 01, 2007 ... Mark D. Moyer (New York City Chapter), CFO of Ziff-Davis Media, participated in the American Accounting Association's (AAA) August program for professionals interested in becoming "professionally qualified" to teach at the college level. Due to the shortage of Ph.D.s in ...
Conference schedule.(fei news)(Calendar)
Oct 01, 2007 ... Emerging Strategies for Private Companies October 11-12, 2007 St. Louis | Ritz-Carlton Financial Executives Hall of Fame November 11, 2007 New York | Cipriani 23rd Street. Current Financial ...
Chapter focus: San Antonio.(fei news)
Oct 01, 2007 ... Area Covered: San Antonio and surrounding areas, including South Texas Founded: May 8, 1975 No. Members: Approximately 150 Representative Member Companies: HoltCAT, TXCO, AT & T, Compass Bank, SAWS, KCI USAA, NuStar Energy, Accretive Solutions, Tesoro ...
Crossword.
Oct 01, 2007 ... OCTOBER [ILLUSTRATION OMITTED] Across 1. Lender sector recently in trouble 6. Billing 12. Companies going public 13. Amber tea 14. Neither's partner 15. Roman pot 16. Soft traveling ...
Names in the news.
Oct 01, 2007 ... FEI Members: You are invited to contribute news about career moves and changes. Email Managing Editor Ellen M. Heffes, eheffes@fei.org. * Robert J. Bahash, CPA (New York City Chapter), was appointed to serve on the Board of Directors of WMS Industries Inc., in Waukegan, Ill ....
Malcolm Persen.(balance sheet)(Interview)
Oct 01, 2007 ... An avid lover of the outdoors is Malcolm Persen, pictured on the right, in the green shirt. The photo was taken at the completion of a trans-Grand Canyon hike (27 miles) last year, which he did in sandals. He forgot his boots, he says, and wasn't going to miss the hike--something he's done ...