February 2006
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Making Clean Deposits
Neal Hannon, CMA, and Grant Trevithick
Governments and public and private companies are being swamped by the data that surges in on a daily basis. The eXtensible Business Reporting Language (XBRL), a markup medium for the electronic communication of business and financial data, is designed to meet this challenge. The Federal Deposit Insurance Corporation successfully used this new technology in 2005, streamlining the regulatory data collection process for banks and, incidentally, pioneering a path for other agencies to follow.
Guarding the Auditing Guards
Michael Alles, Alexander Kogan, Miklos Vasarhelyi, and J. Donald Warren, Jr.
The use of scorecards has spread to companies all over the world, according to this continuing online survey, with companies in South America reporting the most use and European companies reporting the lowest use. Companies that strongly agree they have realized significant benefits from their scorecarding system most often cite increased organizational alignment (95%), increased communication (86%), and increased ability to measure performance (81%) as benefits achieved.
Positive Confrontation?
Ronald M. Katz
Confrontations in today's office can't be avoided, but they can be managed. What you need, says this expert, is to approach such distasteful situations with an attitude of not "How can I win?" but "How can both of us win and the company benefit?" The goal is to focus on the entire team winning, not simply one point of view.
The Road to Simplicity
Ramona Dzinkowski
Back to the future? U.S. accounting has to shift back to its economic fundamentals. That was the major theme of the recent 24th Current Financial Reporting Issues Conference sponsored by Financial Executives International (FEI). While recognizing the many problems faced by American accountants, Chairman Robert Herz said the Financial Accounting Standards Board will continue to reduce complexity and increase transparency by moving toward one internationally accepted principles-based system -the International Financial Reporting Standards (IFRS)s.
Drive Better Customer Service with Interactive Invoicing
Kevin Divine
Successful companies are introducing their suppliers and customers into the e-business path. If basic financial transactions are negotiated over the Web, everyone saves time and money.
The Connection between Performance Measurement and Risk Management
Laurie B. McWhorter, CMA, Michele Matherly, and Deseree M. Frizzell
A strategic performance measurement system (SPMS) and an enterprise risk management (ERM) system both encourage a holistic view of the organization. But a survey of IMA's Controllers Council members shows that a company's SPMS also strengthens risk management.
PERSPECTIVES
The CIMA/AICPA connection.
CAREERS
Building support for difficult projects.
BEST PRACTICES
When your friend becomes your boss.
TAXES
Tax benefits for military members and families, part 1.
ETHICS
Pharma industry has many ethics issues.
WORLDVIEW
Certification drives membership in the Middle East.
XBRL
Will the IRS Be Next to Adopt XBRL?
STREETWISE
Corporate scandals bring more rules changes
Accounting is still hot
House passes pension reform bill
Books: Process excellence
TOOLS OF THE TRADE
Tax season arrives.
TECH FORUM
Nine million blogs.
FINANCIAL TRENDS
Funds flow.
END NOTE
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