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10 Truths You Need to Know About Fraud
By Bonita K. Peterson, CMA, CPA, and Paul E. Zikmund
Theft of corporate funds or assets can be committed by anyone from long-time employees to temps. Strong controls are the best defense together with measures such as anonymous hotlines to encourage tips from employees - the most successful way of unearthing fraud - in a nonpunitive environment.
Save $1 Million with Better Fleet Management
By Scott Pattullo
Managing your fleet begins with knowing what is driving costs. Choosing the right vehicles, maintaining them, determining the optimal life cycle for each vehicle, and selling a used vehicle in a competitive resale market - all can help you run your fleet more smoothly and efficiently.
Reducing Your Workforce: What You Don't Know Can Hurt You
By Dennis M. Kuhn and David E. Stout
Managers who launch into workforce reduction schemes without understanding current applicable legislation may be in for a big shock. One court case judgment against the company could cancel out any monetary benefits of downsizing.
Reverse Merger or IPO?
By Vincent C. Brenner and William K. Schroff
Buying a public company already listed on a stock exchange is often a better way for a private company to go public. This strategy is less expensive and less risky than an IPO, but managers must carefully analyze the assets and liabilities of the shell company to prevent costly surprises after the merger is consummated.
Preserving Performance Pay
By Katrina Mantzke, CPA, and B. Douglas Clinton, CPA
For decades, stock options satisfied the financial accounting, tax, and management goals of corporations. But the gaming of this system during the booming 1990s has chilled companies' use of this tool. Meanwhile, FASB is moving to have stock options expensed. As a result, managers are looking into other methods of motivating employees.
The Sensibility of Principles-Based Accounting Standards
By Ronald M. Mano, CPA, and Matthew L. Mouritsen
Rules-based systems encourage "creativity," but a principles-based system places the onus on managers and auditors to decide whether the substance of accounting transactions is reflected accurately. That is why the Financial Accounting Standards Board shouldn't try to devise specific rules for stock option accounting but merely state the principle and rely on accountants in the field to use their judgment based on that principle.
Improving as professionals.
The normalization of deviance.
Are you burning out your best employees?
JGTRRA and the family business.
It's all about the money.
Carl S. Smith named IMA chair-elect.
SEC amends SFAS No. 123R compliance dates
Interviewing for integrity
FASB wants your opinion
IMA funds four new research projects
Small business groups complain about FASB
Books: The new internal auditing rules.
TOOLS OF THE TRADE
Reading, writing, and computing.
Writing on the screen.
TRENDS IN FINANCIAL MANAGEMENT
Economic expansion is expected to widen.
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.