Financial Management (UK)

Professional magazine covering finance, business, management and technology.

Articles from November

Accounting in the Hospitality Sector: Ruth Mattimoe and Will Seal Tell Louise Ross That Their Study of UK Restaurants and Hotels Won't Produce a Dry Academic Treatise
[ILLUSTRATIONS OMITTED] Why study hotels and restaurants? It's not an industry I've read much about. Ruth Mattimoe: You've just answered your own question. The hospitality industry is economically important to the UK and many other nations, but...
Adjust 17: Two Different Actuaries Could Legitimately Derive Wildly Varying Figures for Your Company's Pension Scheme Deficit under FRS17. David Davison Urges FDs to Question Actuarial Assumptions
Although FRS17 has undoubtedly gained acceptance in recent years, there is still a significant divergence of opinion about the audit standard. Some people believe that it provides a useful measure of a potential liability and some treat it more as...
Aneeb Farrukh: Student, Lahore, Pakistan
[ILLUSTRATION OMITTED] You passed all six managerial level papers at the first attempt in May. What's the secret of your success? Practice and concentration. I always try to apply my knowledge in my family's business, which makes and sells ceramic...
Capitol Gains: New Research Shows That Firms' Political Connections Directly Affect Their Share Prices-Even in Nations as Highly Regulated as the US. Jorg Rocholl Explains the Implications
As Barack Obama and John McCain fight the final rounds of their battle for the Oval Office, there is growing interest in what the victor's policies will mean for the US and the rest of the world. What we may not have considered yet is the impact that...
CIMA Global Events: CIMA Ireland Conference
[ILLUSTRATION OMITTED] CIMA Ireland held its annual conference, entitled "Excellence in international markets", in Dublin on October 2. Speakers at the conference explored the prerequisites for Irish companies to succeed in competitive international...
CIMA Is Working Hard to Ensure That Its Members Can Guide Their Organisations through the Crisis
[ILLUSTRATION OMITTED] These are exceptional times. As the global financial crisis unfolds, each day reveals ever more complex challenges while we wait to see the impact of the unprecedented government intervention in markets and businesses around...
Coming Events
Bahrain World Islamic banking conference November 23-25 CIMA sponsors this event and will be present in the UK Trade and Industry pavilion. Belgium Sixth conference on new directions in management accounting December 15-17 Hotel...
Cost Allocation: Hugh Evans and Deborah Wall Offer Their Guide to Developing an Accurate, Yet Simple and Pragmatic, Approach to Cost Allocation That's Most Appropriate for Your Organisation
Cost allocation arrangements tend to influence an organisation's behaviour significantly if, as the saying goes, "what gets measured gets done"--providing that it's recognised and rewarded. If a company's chosen approach to allocation elicits the wrong...
Credit Where It's Due: Who Benefits from Your Accountancy Skills? Martyn Trotman Describes His Experiences of Setting Up a Micro-Credit Programme in Rural West Africa
[ILLUSTRATION OMITTED] During World War II, when most children from British cities were being evacuated to the countryside to escape German bombs, my father moved our family to Nigeria. My parents insisted that we must integrate into local life,...
Exam Notice: Visit WWW.Cimaglobal.Com Regularly for Updates
November 2008 exams The November exams will be held on Tuesday 18, Wednesday 19 and Thursday 20. CIMA does not accept cancellations or refund fees. The deadline for requesting changes to papers or exam centres was September 22. Instructions for...
FDs Plan Job Cuts in Bid to Beat Recession
[ILLUSTRATION OMITTED] UK finance directors plan to cut back on temporary staff, but are confident that their expertise and experience will help their organisations to survive the ongoing financial crisis, according to CIMA's economic survey, published...
Financial Risk Management: Alexa Michael Sets out the Tools and Techniques Available for Firms to Mitigate the Worst Effects of the Credit Crunch and Impending Recession
Some of the world's leading financial institutions have suffered huge losses over the past few years. Many of them should really have been better at managing their financial risks effectively. Financial risk can be split into three categories: market,...
Green Growth: The Future of Environmental Policies, Products and CSR Reporting Were the Focus of a Round-Table Debate Hosted by FM
[ILLUSTRATIONS OMITTED] What are your roles and how do your organizations deal with green issues? Bruno Zago, environmental manager, UK and Ireland, Hewlett-Packard: We have reported on our environmental performance for about four years. One...
Insecurities Market: Risk Management Is Rightly High on the Corporate Agenda, but Many Organisations Are Still Failing to Approach the Task in a Sufficiently Systematic and Rigorous Way
Risk management is a concept whose time has well and truly come. For most organisations--not only commercial and industrial enterprises, but also a whole raft of public-sector bodies--the identification and management of risk has become a big issue....
Integrated Management: An Effective Organisation Will Clearly Link Its Mission, Objectives, CSFs and KPIs. but Daniel Clark Finds That the Connections Aren't Always Obvious
Mission, objectives, critical success factors (CSFs) and key performance indicators (KPIs) are significant concepts in organisational strategy. Judging from my experience as a tutor they're often not well understood by students--and from my experience...
Management Accounting-Performance Evaluation: Grahame Steven Explains Why It's Tempting to Manipulate Transfer Prices When Moving Products between a Group's Subsidiaries in Different Nations
DuPont was the first company to recognise the need for transfer pricing when, in the early 20th century, some of its divisions started generating by-products from their manufacturing processes that other divisions could use as raw materials to make...
Money-Laundering Help
Not how to do it, but how to prevent it--or what to do if you encounter it. The first two CIMA money-laundering workshops took place on October 22 at CIMA's headquarters in London and on October 30 near Edinburgh Airport. A third will be held on November...
Nigel Turner FCMA Chief Executive, BMI
Your industry is hugely competitive and recent fuel price hikes and green taxes have put some airlines out of business, How is BMI coping? BMI is the oldest purely commercial airline in existence--others may be older, but they've been in and out...
Part-Time Finance Director: Colin Mills Explains the Demands and Benefits of Stepping Away from a Full-Time Role and Pursuing a "Portfolio Career"
Many finance directors of big companies have days when the politics and regulatory requirements of the role start to get them down. There is an alternative that provides a relief from the daily grind. It's a role where each day is different: that of...
Performance Measurement and Manipulation: Colin Fisher and Bernadette Downes Discuss Their Research into the Ways in Which Metrics Are Massaged in the Public Sector
[ILLUSTRATION OMITTED] Public-sector organisations commonly use performance measures (or metrics), league tables, star systems and targets for performance management purposes. Occasional newspaper reports and informal discussions with public-sector...
Report Writing: You Don't Have to Be a Desktop Publishing Guru to Illustrate Facts and Figures Effectively. Jon Moon Offers His Guide to Providing Information with Impact
Imagine that you produce information packs and reports that people praise and envy--documents that influence, impress and set the benchmark for all others in your organisation. Imagine the impact of this on your working life. The reality is different...
Should I Stay or Should I Go? Ambitious Managers Need to Be Objective When Reviewing Their Prospects, Warns Anthony McAlister, Who Extols the Virtues of Benchmarking
Middle managers who are looking to progress should always keep one eye on their next job opportunity, but they may feel that the current economic conditions give them even more cause to be vigilant. The Bank of England is forecasting significant job...
The CIMA Member Survey Results
In June CIMA asked members across the world for their views about the organisation, writes Simon Davies. The survey asked them how important membership was to them and to what extent they were aware of, had used and were satisfied with, CIMA's services...
What Next? It's Easy to Blame the Bankers for the Economic Crisis and to Ask Why Taxpayers Should Support the People Who Reaped Huge Rewards for Taking Risks, but What's the Alternative? as Governments around the World Stump Up Cash and Demand Curbs on Bonuses, We Ask the Experts What Can Be Done to Regulate Rewards in the City without Killing the Goose That Once a D the Go Den Eggs
The UK government [ILLUSTRATION OMITTED] Gordon Brown's speech on the global economy at the Reuters building, October 14. ... The only way forward is to maintain--indeed, extend--our tradition of openness: an open trading economy [with], as...
Where There's Blame, There's a Claim: As More and More Firms Get Crunched, the Legal System Will Have Its Work Cut out When Creditors Start Fighting for Their Share of the Scraps and Pursuing Negligence Cases
It is a truth universally acknowledged that the amount of commercial litigation increases during a recession. Recently the former lord chancellor, Lord Falconer, predicted that the credit crunch would start a new era of mass litigation. Indeed, Greg...