Features

The Lowdown on Lean Accounting
Anton van der Merwe and Jeffrey Thomson
What is Lean Accounting all about? Does it have the potential to provide benefit in the transformation of the profession? Rather than assuming “Lean” has all the answers, say the authors, “we do know that open debate and discussion is required at a more technical level.”

What’s Keeping Corporate Controllers Up at Night?
Ramona Dzinkowski
One issue dominating the concerns of CFOs at the recent Financial Executives International Financial Reporting Issues Conference was the increasing demand for skilled accountants. One executive lamented that “the whole Baltimore, Washington corridor within the past three or four years has been sucked dry of accountants.” Other issues included the complexity and quantity of U.S. GAAP; an ultraconservative audit environment driven by SOX requirements, which led to many restatements; and managing in an increasingly complex, global environment.

Valuable Volunteers
Susan M. Sorensen, CPA, and Donald L. Kyle, CPA
Citizens who lend a helping hand to a charitable organization are praiseworthy, but professionals like accountants are equipped to do more. They can use their expertise to leverage such charities to improve overall operations and substantially augment their effectiveness. These accountants helped Houston-based Medical Bridges, which recycles medical supplies, install and maintain better accounting records so it could attract more donors, hire more employees, and improve and increase its charitable activities.

Making a Case for Business Analytics
Rock Gnatovich
Business intelligence (BI) software products may be sufficient for the CFO and the CEO to understand what has happened in their company’s operations, but operational managers, “Go-To Guys,” need much more. The ability of business analytics (BA) programs to dig down into data and surface key details helps ensure that the savvy organization is more operationally agile and can respond to key issues and problems in a timely manner.

Columns

PERSPECTIVES
Complexity.

TAXES
The home office: who cares about recapture?

Advocacy
Updates on XBRL and SOX.

IMA
How to make the most of conferences.

Worldview
IMA establishes chapter in Istanbul, Turkey.

BEST PRACTICES
No hands tied.

ETHICS
404 guidance: real change or just window dressing?

XBRL
It’s time for GL-enabled software.

FINANCIAL TRENDS
Illegal stock options timing: it’s your move, SEC.

Departments

STREETWISE
Robert Herz is reappointed FASB chairman • FASB wants your input • More practical articles • SEC proposes changes to Section 404 • Books: teamwork in the global economy.

TOOLS OF THE TRADE

TECH FORUM
Two historical rivers.

END NOTE
Boneyard and hall of fame.