Resources & Publications

Strategic Finance July 2003

July 2003
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Features

10 Ways E-Business Can Reduce Costs
By Kip R. Krumwiede, CMA, CPA; Monte R. Swain, CMA, CPA; and Kevin D. Stocks, CPA
E-business is growing as more and more companies are using the Web to cut costs. Members of IMA’s Cost Management Interest Group are using e-business to lower sales transaction costs, provide online information, use electronic invoices, settle disputes, use online suppliers, increase supplier competition, buy used equipment, recruit employees, do research, and conduct training.


Roles and Practices in Management Accounting Today
By Ashish Garg, Debashis Ghosh, James Hudick, and Chuen Nowacki
This comprehensive IMA-Ernst & Young survey of IMA members confirms the management accountant’s role as a strategic partner to decision makers. Another conclusion: There is broad agreement that current cost systems aren’t providing sufficiently accurate information on which to base decisions. Companies are reluctant, however, to adopt new tools and techniques to overcome current constraints on the accumulation of accurate data.


The Balanced Scorecard at Futura Industries 
By Andra Gumbus and Susan D. Johnson
When the president of this aluminum manufacturing company says, “We need great people, not just great machines,” she really means it. Focusing on development of employees using a scorecard matrix, the company increased revenues 50% without adding personnel from 1996 to 1999.


The Value Market 
By Dean Sorensen
Customers want “red carpet” service at discount prices while the company wants to offer exceptional service and products—but still make a profit and keep its shareholders happy. Such tradeoffs are difficult to handle for many firms, but new management system software is coming online, offering the capability to marry strategy with optimum tactics, enabling businesses to win on both fronts.


Maynard Manufacturing: An Analysis of GAAP-Based and Operational Earnings Management Techniques 
By William R. Ortega, CMA, and Gerry H. Grant, CPA
In the wake of Enron and WorldCom, the 2004 Student Case Competition asks students to analyze what earnings-management techniques are appropriate and which ones are unethical at this hypothetical company.

Columns

PERSPECTIVES
Increasing IMA’s Value.


STRATEGIC MANAGEMENT
Strategic Decisions and Cash Flow.


BEST PRACTICES 
Being Present at Your Own Life.


CAREERS
The Write Stuff: How to Prepare Effective Reports.


TAXES
Relaxing the 60-day Rollover Rules.


CERTIFICATION
Analysis of CFM Exam Completers for 2001.

Departments

STREETWISE
Is offshoring for you?
Globalization job loss?
Should finance influence ethics in other functions?
Pushing and shoving on tax bill
Books: The fall of Arthur Andersen
Father and son CMAs


TOOLS OF THE TRADE
Two New Photo Tools and Sight and Sound in Your Pocket.


TECH FORUM
Has IT Reached the Down Side of the Hill?


TRENDS IN FINANCIAL MANAGEMENT
Preparing to Publicize Financial Controls.


STRATEGIC FINANCE QUIZ
Successfully answer 70% or more of the questions based on selected articles from this month's issue, and you will earn three CPE credits.


END NOTE
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