June 2010
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IMA 2009 Salary Survey
By David L. Schroeder, Lee Schiffel, and Kenneth A. Smith, CPA
As one would expect in a difficult economic climate, the 21st Annual Salary Survey of IMA members finds little change in respondents’ average salary and average total compensation. But the Certified Management Accountant (CMA®) credential continues to be a strong signal of professionalism leading to higher salaries for all respondents, and data shows a dramatic increase in respondents’ awareness of the IMA Statement of Ethical Professional Practice.
Reducing Supplier Risk
By Ari Salonen
The older methods of monitoring supply-chain risk no longer work as they once did. The Finance and Procurement departments now operate at a distance, and short-term efforts to cut costs are taking priority over longer-term investment focus. Seven practical recommendations show how to close the distance between CFOs and CPOs.
Using Your Excel-Based Budget to Create Pro Forma Financial Statements
By Jason Porter and Teresa Stephenson, CMA
Part 5 of the six-part series on creating and using an Excel-based Master Budget looks at how financial managers can distill budget information to create a set of Pro Forma Financial Statements. The authors walk you through step-by-step procedures for developing the Pro Forma Income Statement, Balance Sheet, and Statement of Cash Flows. Finally, they explain how to use the Statements as templates for next year.
No Equivocating: Expense Those Idle Capacity Costs
By Sid R. Ewer, CMA; Craig Keller; and Stevan K. Olson, CPA
With SFAS No. 151, specific words that were removed from ARB No. 43, Chapter 4, may have extraordinary consequences on inventory accounting. One change adds new text that recognizes normal capacity as a range of activity. The second change defines a need to expense idle facility and other abnormal production costs.
PERSPECTIVES
Turning Vision into Reality
TAXES
New Era for Federal Income Tax Preparers
ETHICS
Small Company Suffers Massive Embezzlements
FINANCIAL REPORTING
When Diversity Isn’t a Good Thing
IMA LIFE
I’ve Never Looked Back
SF BULLETIN
• One Healthcare Issue Quieted, Others Ready to Roar
• Generous Contributions to IMA
EXCEL
Creating Documentation Within a Worksheet
ACCESS
Data Integrity and Efficiency
XBRL
IMA Accelerates XBRL Activity
TOOLS OF THE TRADE
The Sony Dash, Lenovo IdeaPad Z Series, Logitech R800 Presenter, LaCie Rugged XL Storage
TECH FORUM
The Tablet—What Is It Really?
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