IMA Press Releases

IMA Announces Winners of Educator and Student Awards

caletras@imanet.org — Fri, 17 May 2013 15:23:33 GMT

Montvale, N.J., May 17, 2013 – IMA, the association of accountants and financial professionals in business, recently announced the winners of educator and student awards for 2013. Most of these awards will be presented at a special ceremony at IMA's 94th Annual Conference & Exposition in New Orleans this June.

In the educator category, this year’s winners were:

Alexander Woods, Ph.D., College of William and Mary, won the Emerging Scholar Manuscript Award, established by IMA’s Research Foundation, to acknowledge the exceptional manuscript contribution of a single emerging scholar (or lead author recognition) of management accounting who has a received a terminal degree (Ph.D., DBA, EdD, JD) within the last seven years.
Dr. Kristine Parsons, Ashland University, won the Usel K. Albers IMA Campus Advocate of the Year Award, which honors an academic mentor or student chapter advisor who has made significant contributions to the IMA overall and the IMA student members in particular.
Dr. Ken Merchant, University of Southern California, won the R. Lee Brummet Award for Educators, which recognizes distinguished academicians in the area of management accounting, particularly those with a record of scholarship in the field, service to IMA, and the promotion of management accounting as a profession.

In the student category, this year’s winners were:

Helen Xu, a student at Georgia Institute of Technology; and Ying Guo, a student at University of Hawaii at Manoa, won the IMA Doctoral Summer Research Scholarship, a new program that provides financial support for first- or second-year Ph.D. candidates in accredited accounting programs to enable them to work on their summer research paper without the time commitment to teaching or other competing research priorities.
Sarah Sommer, a student at Northwestern University, won the Rolf Jaehnigen Family Scholarship, which recognizes a student who is pursuing a business career and has an interest in the arts (voice, instrument, dance, or theater).
Joesett Woods, a student at University of Arkansas at Monticello, won the Student Manuscript Award for his article “Value: Is IMA Worth It?” to be published in an upcoming issue of Strategic Finance.
Michael T. Bills, a student at Utah State University, was awarded this year’s Stuart Cameron and Margaret McLeod Memorial (SCMS) Scholarship in recognition of his outstanding academic achievement and contributions to IMA.

In addition, the following students were awarded IMA Memorial Education Fund (MEF) Scholarships in acknowledgement of their academic merit and IMA service: Brooke A. Bushnell (Culver-Stockton College); Kelsey N. Korsmeyer (Western Illinois University); Alice E. Lawrence (University of Phoenix); Lauren M. Maersch (University of Wisconsin-Whitewater); Kylie M. Muehlbauer (University of Wisconsin-Whitewater); Ivan Nechunaev (Grand Canyon University); Ashley N. Peery (Missouri State University); Stacie Lynn Seck (Western Illinois University); and Jessica N. Workinger (Ashland University).

Finally, the IMA student chapter at Culver-Stockton College, in Canton, Mo., won the Clark Johnson Achievement Award in recognition of its innovative achievement in meeting the needs of IMA regular and student members.

Said Dr. Raef Lawson, CMA®, CPA, CFP, CFA, IMA vice president of research and professor-in-residence, “IMA is pleased to recognize the achievements of this outstanding group of educators and students. Our educator awardees have made a significant contribution to advancing the management accounting profession, as well as the overall mission of IMA, among students and the academic community. The student award winners are true models of leadership, service, and academic excellence. We congratulate all of these winners and look forward to their continued contributions to the profession and IMA.”

About IMA® (Institute of Management Accountants)

IMA®, the association of accountants and financial professionals in business, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant) program, continuing education, networking, and advocacy of the highest ethical business practices. IMA has a global network of more than 65,000 members in 120 countries and 200 local chapter communities. IMA provides localized services through its offices in Montvale, N.J., USA; Zurich, Switzerland; Dubai, UAE; and Beijing, China. For more information about IMA, please visit www.imanet.org.

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Political ‘Hangover’ Holds Back US Business Confidence Despite Financing Boost

caletras@imanet.org — Tue, 23 Apr 2013 10:50:00 GMT

ACCA and IMA Global Survey of Finance Professionals Finds Pressure on Cash Flow and New Orders Has Eased, but Not Enough

New York and Montvale, N.J., April 23, 2013 – Business confidence has grown in the United States, according to new research from ACCA (the Association of Chartered Certified Accountants) and IMA® (Institute of Management Accountants). However, businesses are not yet in a position to take advantage of better trading conditions and easier access to financing. The full report is available here: http://bit.ly/13Oi7NF.

The Global Economic Conditions Survey (GECS), the largest quarterly economic survey of accountants in the world, has shown that in the first quarter of 2013, U.S. businesses were only just beginning to recover from the political uncertainty that dominated the second half of 2012. Twenty- three percent of the 2,000 respondents said they were more confident about the prospects for their organizations, while 40 percent reported a loss of confidence in the first quarter of 2013.

Although confidence among U.S. finance professionals saw some gains in line with the global average, the survey revealed the rebound in business and investment opportunities in early 2013 had not yet matched the levels seen in early 2012. Similarly, the survey revealed that pressure on cash flow and new orders has been easing for the last six months, but is still high compared to the spring of 2012.

“Mid-2012 marked a turning point for the U.S. economy as politics cast a long shadow over the business environment, and only now are businesses beginning to recover and look ahead,” said Emmanouil Schizas, Senior Economic Analyst at ACCA. “They are still suffering from a political hangover and appear to be waiting to see what happens. However, it is a good sign that U.S. enterprises are considering investment once again. The next quarter will test their ability to turn this newfound resilience into growth.”

Raef Lawson, Ph.D., CMA, CPA, IMA vice president of research, added: “Understandably, U.S. businesses are taking a cautious approach to growth, and that trend is clearly reflected across the world, not just in the U.S. That caution is perhaps best demonstrated by the ongoing low levels of business capacity building, despite more available growth capital. It would appear that a lack of available capital is not the main thing holding back U.S. businesses, but a lack of confidence in the economy might be.”

U.S. regional differences

The GECS has also revealed differences in the confidence index in finance teams across the U.S. regions.

The quarterly survey has shown that since mid-2012 the Northeast and the South have diverged from the rest of the country in terms of business confidence, performing significantly worse, even taking into account the recent rebound in early 2013. Also, confidence levels in the West and Midwest are converging (i.e., reaching similar levels).

Global confidence improving

Overall, the global confidence index showed nearly one quarter (24 percent) of respondents reported they were more confident about the prospects of their organizations than three months earlier, up from 19 percent in late 2012, while 37 percent reported a loss of confidence, down from 43 percent. The highest confidence levels were in the Middle East.

Schizas said: “The global confidence gains recorded in Q1 2013 are much larger than what would be expected given the current economic climate. The survey showed that over two-fifths (43 percent) of respondents in early 2013 believed the global economy was improving or about to do so, up from 30 percent in the previous quarter, while just over half (54 percent) expected deterioration or stagnation, down from 65 percent in late 2012. It seems confidence is fuelled by an expectation of economic improvement, but there is no sign of this being justified. As a result, confidence is likely to be short-lived.”

About the Survey

This is the 17th edition of the Global Economic Conditions Survey and the sixth carried out jointly by ACCA and IMA. Fieldwork took place between February 28 and March 21, 2013, attracting 1,994 responses from finance professionals globally, including 640 senior managers and directors (and, within those, 154 CFOs). It is the largest global quarterly economic survey of accountants, both in terms of the number of respondents and the scope of economic variables it monitors.

About ACCA (Association of Chartered Certified Accountants)

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants with 154,000 members and 432,000 students in 170 countries worldwide. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. We work through a network of over 80 offices and centers and more than 8,400 Approved Employers worldwide who provide high standards of employee learning and development. For more information about ACCA, please visit http://www.accaglobal.com.

About IMA® (Institute of Management Accountants)

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ICMA Recognizes Top Performers on Certified Management Accountant (CMA) Exam

caletras@imanet.org — Thu, 11 Apr 2013 15:05:22 GMT

Montvale, N.J., April 11, 2013 – The Institute of Certified Management Accountants (ICMA®), the certification division of IMA®, announced today the leading performers on its Certified Management Accountant (CMA®) examination.

IMA’s globally recognized CMA program is a relevant assessment of advanced accounting and financial management knowledge in four critical areas: financial planning, analysis, control, and decision support. The CMA assures employers that an individual has mastered the knowledge and skills needed on the job today.

Of the more than 3,400 individuals who took the two-part English CMA exam during the September/October 2012 testing period, the following were awarded medals and certificates for their exceptional performance:

Rabindranath Ulrich Bhattacharya, of Greenfield Park, Canada, and William Zachary Holland, of Asheville, N.C., both received the ICMA Gold Medal for achieving the highest exam score.
Mohamad Khorbatli, of Beirut, Lebanon, received the ICMA Silver Medal for achieving the second-highest exam score.
David Bradley Bryan, of Tallahassee, Fla., received the ICMA Bronze Medal for achieving the third-highest exam score.
Kirsten K. Seda, of Saint Edward, Neb., received the Priscilla S. Payne Student Performance Award for achieving the highest score as a student.

In addition, the following individuals were awarded Certificates of Distinguished Performance for their high exam scores: Melanie Iris Bard, of Winterthur, Switzerland; Jonathan Fung, of Honolulu, Hawaii; Billy Jenkins, Jr., of Tampa, Fla.; Rahul Jogani, of Dubai, United Arab Emirates; and Tianyu Zhang, of Hartford, Conn.

“ICMA extends its congratulations to the winners of these awards and celebrates their exceptional achievement,” said Rick S. Thompson, CMA, CFM, CPA, ICMA Board of Regents chair. “As the diversity of period’s winners illustrates, the CMA certification is increasingly becoming a worldwide credential, recognized by leading companies around the globe. ICMA is very encouraged by the strong growth experienced in both new enrollees to the program and to the number of individuals who have passed this rigorous examination. By becoming CMAs, these professionals are in a position to improve their own career outlook as well as to boost the financial and strategic performance of their respective organizations.”

Professionals holding IMA’s CMA credential earn an average of 26 percent more in total compensation compared to noncertified professionals, according to IMA’s 23rd Annual Salary Survey, published in the June 2012 issue of Strategic Finance. On average, CMAs earn over $27,000 more than their noncertified peers. Follow this link to download a copy of the survey: http://www.discoverima.org/IMASALSUROPR.

About IMA® (Institute of Management Accountants)
IMA®, the association of accountants and financial professionals in business, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant) program, continuing education, networking, and advocacy of the highest ethical business practices. IMA has a global network of more than 65,000 members in 120 countries and 200 local chapter communities. IMA provides localized services through its offices in Montvale, N.J., USA; Zurich, Switzerland; Dubai, UAE; and Beijing, China. For more information about IMA, please visit www.imanet.org.

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IMA Introduces 15 New Experts to its Speakers Bureau Featuring Accounting, Finance and Business Thought Leaders

caletras@imanet.org — Mon, 25 Mar 2013 14:49:00 GMT

Montvale, N.J., March 25, 2013 – IMA® (Institute of Management Accountants), the association of accountants and financial professionals in business, has expanded the IMA Speakers Bureau, an online resource designed to facilitate connections between event organizers and thought leaders from IMA’s membership.

With 15 new speakers added to its roster, the IMA Speakers Bureau now comprises 35 of the leading minds in accounting and finance and more effectively serves professional conference and meeting planners, who have a continuous need for experienced lecture talent. Since its creation in September 2011, the Speakers Bureau has gathered a unique group of thought leaders to address today’s most pressing accounting, finance and business issues.

“The IMA Speakers Bureau includes some of IMA’s most distinguished thought leaders and technical experts in the field of finance and accounting,” said Jeff Thomson, CMA, IMA president and CEO. “Our efforts to convey the ideas of these notable members are becoming an increasingly important part of our mission to share knowledge, advocate the highest ethical practices, and provide a forum for research and thought leadership.”

IMA’s technical experts and thought leaders cover an array of relevant and cutting-edge topics, including global business operations, risk management, leadership, regulatory matters, performance management and improvement, XBRL, strategic planning, certification, financial innovation, the accounting skills gap, careers, and more.

The IMA Speakers Bureau is one of several IMA programs to support the accounting and finance profession. To access a listing of participating speakers and availability, visit the Speakers Bureau section of IMA’s website at http://speakersbureau.imanet.org/about.aspx.

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The Best Kept Secret to Advance Your Career

caletras@imanet.org — Thu, 21 Mar 2013 16:30:00 GMT

As young professionals, we’re always looking for new opportunities to grow and improve our budding careers. Some of us are fortunate to work for companies that offer opportunities where we can take on additional responsibilities...Read More

7 Ways to Satisfy your Auditors

caletras@imanet.org — Thu, 21 Mar 2013 15:23:00 GMT

The relationship between CFOs and their auditors is a complicated one...Read More

Give Yourself a Time Out: Why Contemplation Leads to Virtue

caletras@imanet.org — Wed, 20 Mar 2013 16:32:00 GMT

In business, it is often imperative to take our time in order to do our best work. It allows us to develop an understanding, articulate alternatives and derive sound conclusions...Read More

IMA’s 94 Annual Conference & Exposition

caletras@imanet.org — Mon, 18 Mar 2013 16:37:00 GMT

IMA’s 94 Annual Conference & Exposition Calendar Listing...Read More

New Report Shows Changing Fraud Environment

caletras@imanet.org — Mon, 18 Mar 2013 16:33:00 GMT

For the last six years, security consulting firm Kroll Advisory Solutions has commissioned the Economist Intelligence Unit to perform a global survey of fraud incidence...Read More

Ethics Issues for Accountants Get Spotlight at IMA Conference

caletras@imanet.org — Tue, 12 Mar 2013 14:30:08 GMT

Early bird registration for 94th Annual Event available until March

Montvale, N.J., March 12, 2013 – Professionals attending IMA®'s 94th Annual Conference & Exposition, taking place June 22-26 in New Orleans, will have the opportunity to hear and learn from world-renowned speakers who have successfully traversed the front lines of ethical challenges. With the increased scrutiny facing the finance profession today, the time has never been better for a close look at the ethical challenges facing the profession.

Conference attendees can earn more than 28 NASBA-approved continuing professional education (CPE) credits by attending learning sessions led by speakers representing various organizations, industries, academic institutions and government agencies. Early bird rates are available until March 29.

Click here to see the full schedule of speakers and learning sessions, which includes:

“Ethical Leadership for the 21st Century” – Guided by Cynthia Cooper; CEO, The CooperGroup
“Why Do Ordinary People Commit Extraordinary Financial Crimes?” – Led by Dr. Kelly Richmond Pope; founder, Learning Loop Solutions
“The Psychology of a Fraudster” – Conducted by Allen Yessman; professor, Nova Southeastern University
“AIG and General RE: Supporting a Customer or Committing Fraud” – Presented by Susan Hass; professor, Simmons College
“Prevent Unethical Behavior Before It Ruins Your Company!” – Directed by Mark Freudenberg; accounting manager, Partners 1st FCU

To learn more about networking and educational opportunities that are core to every IMA Conference, watch this video, highlighting last year’s event in Las Vegas.

For more information and to register, visit: http://www.imaconference.org/.

Editor’s Note: Journalists interested in attending the event should contact Marc Gerrone, IMA director of communications and public relations, at mgerrone@imanet.org.

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Cyber-terror fears and fuel increases are top concerns for US companies, says new report from ACCA/IMA

caletras@imanet.org — Tue, 05 Mar 2013 13:50:00 GMT

New York and Montvale, N.J., March 4, 2013 – The world’s business and finance leaders have identified rising fuel costs, cyber-security and the emergence of digital currency as key factors driving change across the globe, according to a new survey conducted by ACCA (the Association of Chartered Certified Accountants) and IMA® (Institute of Management Accountants).

The survey, Drivers of Change in the US, shows that an increased reliance on the internet for business and finance activity is fuelling fears of exposure to cyber-attacks on US companies, with 75% of senior executives and finance professionals identifying cyber security as a driver for change in the future. ACCA recently held a symposium in New York City devoted solely towards this threat.

Rising fuel and energy costs were also a concern for US businesses in the short term, with 78% of senior executives and 80% of accountants identifying it as the most important factor for their future plans in the report.

Senior business executives saw the need for a wider role for accountants in their businesses as a vital development over the medium term from 2016-2022, with 74% citing this as a major factor for change in their businesses.

Faye Chua, ACCA head of future research, said, “Owing to the sheer breadth of economic, commercial and regulatory challenges and changes on the horizon, the CFO and the accountancy function will play an increasingly central role in business. This is a necessary development identified by both senior executives and the finance profession, which shows the two roles share the same sentiment when it comes to developing the business in future. This survey provides a useful glimpse of how future US businesses will operate on what their priorities are.”

Raef Lawson, Ph.D, CMA®, CPA, IMA vice president of research said, “Like businesses the world over, US companies and accountants are identifying similar challenges and opportunities that they expect to emerge in the future. While it might be predictable for finance and senior executives to both identify cyber security as an issue with ever more reliance on computer technology, longer term concerns and factors are shared by both accountants and the businesses they support in the US.”

The report also shows the growing prominence of non-financial information reporting and integrated reporting in businesses with 80% of senior executives who took part in the survey rating it as a major consideration for their future plans to 2022.

Other findings from the report include:

72% of accountants identified potential changes in the global reserve currency, moving away from the US dollar to either the euro or yuan as the most important concern for business in the long term – post 2023.

57% of senior executives and 55% of accounts said the potential move towards digital money as the basis of a currency exchange system was an important long-term development in their plans.

As part of a wider global report, more than 550 accountants and business leaders from different sectors of the US economy offered their insights into future drivers for change. The full report can be viewed at: http://www.accaglobal.com/content/dam/acca/global/PDF-technical/futures/pol-af-docus.pdf.

About ACCA
ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance, and management. We support our 154,000 members and 432,000 students in 170 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. We work through a network of over 80 offices and centres and 8,400 Approved Employers worldwide, who provide high standards of employee learning and development. Through our public interest remit, we promote appropriate regulation of accounting and conduct relevant research to ensure accountancy continues to grow in reputation and influence. For more information about ACCA, please visit: http://www2.accaglobal.com/usa/

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Business Leaders Join Global Accounting Think Tank

caletras@imanet.org — Mon, 25 Feb 2013 11:29:00 GMT

New Appointees Bring Fresh Thinking to the Finance Debate at ACCA (the Association for Chartered Certified Accountants) and IMA (Institute of Management Accountants)

New York and Montvale, N.J., February 25, 2013 – Business leaders from around the world have been appointed to the Accountants for Business Global Forum to help bring new perspectives on the key issues facing Chief Financial Officers, finance functions, and global businesses.

The nine new members, selected by ACCA (the Association of Chartered Certified Accountants) and IMA® (Institute of Management Accountants), include CFOs, managing directors and vice presidents of leading organizations.

Reflecting the diversity of ACCA and IMA brands, the representatives hail from a wide range of industries and backgrounds, and are charged with bringing insights and new thinking to the key challenges facing finance leaders and global finance functions.

“I am delighted to welcome new members to the forum,” said Richard Moat FCC, CFO of Eircom Group and co-chair of the forum. “I’m sure they will bring a wealth of experience and perspective to the key issues, challenges and opportunities we all see as finance leaders in today’s business environment.”

The new forum members are:

Richard Aitken-Davies FCCA – independent chairman of Electricity Pensions Limited
Teuta Bakalli FCCA – CFO at Pepper Europe
Holger Lindner – CFO of the global Product Services Division of TÜV SÜD AG
Jennifer Tan Yuen Chun FCCA – managing director of fixed business at Hutchinson Telecommunications Hong Kong (Holdings) Limited
Neil MacLean FCCA, MBA – vice president for finance transformation at Capgemini Consulting
Oliver Colling FCCA – leader of Grant Thornton’s Finance Transformation team
Paul Mok FCCA – Group Financial Controller at OOCL in Hong Kong
Dr. Solaiman Altwaijri – CEO of Saudi Amiantit
Raymond Jack - Executive Director of Finance & Operations at ACCA

“We’re looking forward to working with the new forum members across a wide range of issues facing CFOs and the finance function today,” said Jamie Lyon FCCA, head of corporate sector at ACCA and co-chair. “There’s a lot happening in this space right now and I’m sure they will make a great contribution to the on-going success of the forum.”

“This is a great opportunity to bring in senior leaders from the business world to enrich our discussions on future issues impacting the finance function and the broader business agenda,” said Raef Lawson, vice president of research at IMA.

The Accountants for Business Global Forum is one of 10 global forums launched by ACCA to bring together experts from the public and private sector. The forums strive to further thinking on current and future issues in a number of areas, as well as look at challenges and opportunities for the accounting profession in general.

About ACCA (Association of Chartered Certified Accountants)

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants with 154,000 members and 432,000 students in 170 countries worldwide. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. We work through a network of over 80 offices and centres and more than 8,400 Approved Employers worldwide, who provide high standards of employee learning and development. For more information about ACCA, please visit http://www2.accaglobal.com/usa/.

About IMA® (Institute of Management Accountants)

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IMA and NetSuite Report Finds Roles of Finance Professionals Expanding

caletras@imanet.org — Tue, 05 Feb 2013 16:22:00 GMT

Research Identifies Solutions for Accounting and Finance Professionals
Challenged with Providing Analytical Insights

Montvale, N.J., February 5, 2013 – To help businesses cope with today’s progressively complex and competitive demands, a new research report titled “Rising to the Challenge – Achieving Real-Time Visibility Across the Organization” details how organizations are increasingly calling on their accounting and finance teams to go beyond traditional roles. The report was co-sponsored by IMA® (Institute of Management Accountants), the association of accountants and finance professionals in business, and NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials and Enterprise Resource Planning (ERP) software suites. The full report is available on IMA’s website at: http://bit.ly/VFuGYe

This new research expands on findings published last year that found streamlining processes and improving productivity the greatest challenges faced by today’s finance organizations. The 2013 research focuses on two new challenges: improving the management reporting cycle and achieving real-time visibility across the organization by providing analytical insight into the business.

Led by Raef Lawson, Ph.D., CMA®, CPA, IMA Vice President of Research and Professor-in-Residence, the research was conducted by surveying more than 1,500 IMA members representing finance organizations across different industries. The report offers accountants several recommendations for improving the management reporting cycle and achieving visibility, including:

Replace outdated technology with new advancements that allow for quicker data connections and provide richer insight into the meaning behind the numbers;
Integrate ERP systems across front - and back - office business processes to make sharing key business information faster and easier across entire organizations;
Eliminate the use of spreadsheets, which require manual effort, create multiple “versions of the truth,” and are challenging to maintain.

“One of the primary goals of IMA is to deliver solutions-oriented thought leadership that is timely, relevant, and helps move the accounting and finance profession forward,” said Dr. Lawson. “As the profession continues to evolve and professionals are required to take on more strategic roles within an organization, there is a clear need for ongoing research to help both companies and professionals stay armed with the information they need to remain successful.”

“We are pleased to co-sponsor this continued research and believe the findings will help professionals showcase their value within their organization,” added Ron Gill, CMA, CFO of NetSuite. “As this study indicates, the changing role of accounting and finance professionals has created opportunities, but also requires companies to keep pace with the constantly changing business environment. As the research points out, it’s critical that finance leaders have the unified systems in place they need to help their companies make better business decisions.”

This report represents the work of an ongoing research partnership between IMA and NetSuite, which aims to deliver thought leadership through IMA webinars, conferences and professional publications.

About IMA® (Institute of Management Accountants)

About NetSuite
NetSuite Inc. is the industry's leading provider of cloud-based financials/Enterprise Resource Planning (ERP) software suites. In addition to financials/ERP software suites, NetSuite offers a broad suite of applications, including accounting, Customer Relationship Management (CRM), Professional Services Automation (PSA) and Ecommerce that enables companies to manage most of their core business operations in its single integrated suite. NetSuite software allows businesses to automate operations, streamline processes and access real-time business information anytime, anywhere.

For more information about NetSuite, please visit www.netsuite.com.

Follow NetSuite's Cloud blog, NetSuite's Facebook page and @NetSuite Twitter handle for real-time updates.

NOTE: NetSuite and the NetSuite logo are service marks of NetSuite Inc. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between NetSuite and any other company.

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The Morning Ledger: Is Uncertainty Really a Threat?

caletras@imanet.org — Thu, 31 Jan 2013 15:48:00 GMT

The economy’s Q4 contraction is unwelcome news, but it’s not as bad as it may appear. A sharp drop in military spending and shrinking inventories at businesses tripped up GDP growth...Read More

Global Business Confidence Dropped in Fourth Quarter, Report Finds

caletras@imanet.org — Thu, 31 Jan 2013 15:11:48 GMT

ACCA and IMA Global Survey of Finance Professionals Cites Concerns over Government Spending

New York and Montvale, N.J., January 31, 2013 – According to the latest quarterly survey of domestic and international finance professionals, global business confidence dropped marginally in the fourth quarter of 2012, raising the spectre of more instability for 2013. These findings are detailed in the Q4 2012 Global Economic Conditions Survey conducted by ACCA (the Association of Chartered Certified Accountants) and IMA® (Institute of Management Accountants).

Forty-three percent of respondents reported decreased levels of business confidence, up from 41 percent in Q3, while only 19 percent reported improved confidence levels. Meanwhile, 30 percent of respondents said the global economy was on course for recovery, up from 29 percent in Q3. Sixty-five percent believed it was stagnating or deteriorating, down from 67 percent.

The findings also reveal the mood of U.S. business across the regions remains gloomy, broadly in line with the global average. Forty-three percent of respondents reported loss of confidence in their businesses’ prospects over the past three months, versus 20 percent who reported confidence gains.

The South and Midwest states have lost the most confidence, and, in fact, have seen a negative trend for an entire year. The West and Northeast performed better in early 2012, but have since followed the rest of the U.S. into negative territory. Only the mid-Atlantic, where confidence was lowest to begin with, has seen more stability in the last three months.

Emmanouil Schizas, senior economic analyst at ACCA, said, “Global business confidence and perceptions of the global economy are tightly correlated and it’s unusual for these two indicators to move in opposite directions. The last time this happened was in early 2010, when the global recovery first started running out of steam.”

Raef Lawson, Ph.D., CMA, CPA, vice president of research at IMA, observed, “Perceptions of the U.S. economy in the last six months have been dominated by politics, notably the presidential election and the Fiscal Cliff. Responses to our survey clearly demonstrate the effects of this, with some respondents saying explicitly that they feel polarization and uncertainty are hurting the U.S. economy. This is evident in the behavior of businesses, with capital spending and job creation falling throughout the last six months and U.S. respondents reporting fewer opportunities for their organizations across the board.”

Mr. Schizas added, “There is no other major market in which respondents have such a negative view of fiscal policy, and are so concerned about the level of government spending, and there is no doubt this is weighing on both business confidence and optimism about the global recovery.”

Looking ahead Mr. Schizas concluded, “Going into 2013 there are reasons to be optimistic. Rising global employment levels, a potential end to the slowdown in China, lower volatility in Europe and a temporary resolution to the U.S. fiscal cliff crisis should all positively impact the global economy in the year ahead.”

About the Survey

This is the 16th edition of the Global Economic Conditions Survey and the fifth carried out jointly by ACCA and IMA. Fieldwork took place between November 29 and December 19, 2012, attracting 1,994 responses from finance professionals globally, including 640 senior managers and directors (and, within those, 154 CFOs). It is the largest global quarterly economic survey of accountants both in terms of the number of respondents and the scope of economic variables it monitors. For full survey results please contact Marc Gerrone (mgerrone@imanet.org) or Andrew Healy (ahealy@waterandwallgroup.com).

About ACCA (Association of Chartered Certified Accountants)

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants with 154,000 members and 432,000 students in 170 countries worldwide. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. We work through a network of over 80 offices and centres and more than 8,400 Approved Employers worldwide, who provide high standards of employee learning and development. For more information about ACCA, please visit http://www2.accaglobal.com/usa/.

About IMA® (Institute of Management Accountants)

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