January 2005
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The Informating Framework
By Frank Potter, CMA
Technology produces more and better data for decision makers but creates a need for better educated and more knowledgeable individuals to put the information in context so that it can be used to improve operations. A psychiatric hospital budget illustrates how the "informating" framework can be used to illuminate and streamline a basic financial process.
The Global CFO
By Ramona Dzinkowski
The western business model of the pursuit of maximum profit without proper attention to the potential "explosion of greed" as in the Enron and WorldCom debacles may not be a paradigm for the rest of the world, according to a CFO at the 35th World Congress of the International Association of Financial Executives Institutes. Other CFOs at the Florence, Italy, conference expressed concerns about meeting the requirements of accounting standards harmonization this year and the pressure of international convergence in markets, currencies, and business practices.
Balanced Forecasts Drive Value
By Robert E. Paladino, CPA
Crown Castle USA illustrates a real-world example of the use of the balanced scorecard framework to link strategy and financial, customer, and operations results to drive value. How did it succeed when nine out of 10 companies fail? Answer: It overcame management, vision, resource, and people barriers that frustrated other companies' efforts and won national recognition for a successful implementation.
How to Budget for Enterprise Software
By Spencer Arnesen and Jeff Thompson
Most financial executives have discovered that buying software isn't like buying tangible equipment such as a copier or a printer. Issues like licenses, training, and maintenance have to be accounted for in the budget. Two software consultants walk you through the seven elements of a software budget.
How to Take a Computer Disaster in Stride
By Greg Hanna
When disaster strikes, the average cost for computer network downtime is $42,000 an hour, and 40% of companies that are unable to access their data within 72 hours are forced to close their doors. These chilling statistics underscore how important it is for companies to protect their operations in a worst-case scenario. This expert details how to protect your bottom line in the event of a major or minor catastrophe.
PERSPECTIVES
Accounting specialties need more public recognition.
BEST PRACTICES
The effect of affect.
CAREERS
2005 accounting hiring trends.
TAXES
The consequences of misclassifying workers.
ETHICS
Is this the age of whistleblowers?
XBRL
Post Sarbanes-Oxley: does XBRL hold the key?
CERTIFICATION
Dramatic 2002 CFM completers ranking changes.
STREETWISE
Financial executives evaluate SOX compliance
FASB issues final rule on stock options
Bush to push for tax changes
Books: Real-time opportunity
TRENDS IN FINANCIAL MANAGEMENT
A Slower-Growth Economy in 2005.
TOOLS OF THE TRADE
Convergence and clarity, dragons and drawing.
TECH FORUM
Hackable house.
END NOTE
Weaving the wireless wardrobe.
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