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Lehman’s Shell Game: Poor Risk Management
By Saurav K. Dutta, CMA; Dennis Caplan, CMA, CPA; and Raef Lawson, CMA, CPA, CFA
Lehman’s precipitous fall that began in 2008 ended in bankruptcy. The 2006 strategic shift from a low-risk brokerage model to a high-risk, capital-intensive banking model burdened the company with dangerous illiquid assets, and then the subprime crisis exploded. What followed was a sophisticated implementation of Repo 105 and 108 transactions to cloak the true condition of the company’s worth. The authors analyze the legality and ethics of the accounting practices during the fall.
Sandra B. Richtermeyer: Accounting Profession Advocate
By Kathy Williams
IMA® Chair Sandra B. Richtermeyer has an extensive and varied background in public accounting, higher education, and IMA. And she is keenly aware of the value of volunteerism. “We are actively working on how we can make sure that our large base of volunteers is recognized and has plenty of opportunities to serve. So many people are involved with IMA, and to recognize the potential for further alignment of all of our volunteer opportunities is really important,” she emphasizes.
Process Costing and Management Accounting in Today’s Business Environment
By Jennifer Dosch, CMA, and Joel Wilson, CPA
Process costing is an accounting methodology that tracks the production of large quantities of identical units. After interviewing managers at three manufacturers, the authors discovered that each one’s process costing practices were different from what’s taught in management texts. Despite the difference in the sizes of the three companies, all three preferred standards over actual results.
IMA Student Case Competition: TransGlobal Airlines
By Shane Moriarity, Laura Hopkins, and Andrew Slessor
In this case study, a hypothetical government-owned airline is about to be privatized, and you are part of the team guiding the transition. You’re to prepare a profitability analysis of each market segment, a SWOT analysis, and recommendations for an overall strategy.
Starting Down the Certification Path
Small Employer Health Insurance Credit
BP Still Hasn’t Learned Ethical Lessons
FRC and SBC Continue Their Influential Voice
CMA: A Great Asset
• Financial Reform Bill
• R&D Tax Credit and Other Business Bennies Go Down
• Books: The Cartel’s CFO
Project: Concrete Application of Access Concepts
Sustainability Reporting and XBRL—Part 1
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3M Gold Privacy Filters, exolife™ iPhone Battery Case, LaCie XtremKey USB Drive, Joos Orange Personal Solar Charger
The Adobe/Apple Compatible Battle Explodes