Resources & Publications

Strategic Finance April 2003

April 2003
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Features

Who Has Your Numbers?
By Diane A. Riordan, CMA, CPA, and Michael P. Riordan, CPA
Many have learned from bad experience that, in our computerized age, identity fraud is a growing problem. The numbers that we live by are the same numbers—in the wrong hands—that can disrupt our lives. Finance managers who manage their corporation’s numbers must also learn to manage their personal identity numbers.


Ferreting Out Fraud
By Paul Zikmund
With 50,000 employees in 170 countries, Dow Chemical Co. realized it has a massive potential exposure to fraud. That’s why it created an in-house department to address the issue and reinforce the company’s high level of ethical business behavior. As a result, Dow recovers nearly $4 for every $1 spent on investigating fraud.


Why Automate Payables And Receivables? 
By Suzanne Hurt
U.S. companies spend more than $180 billion a year processing paper-based invoices, but if a firm moves to Internet-based financial resource management, its costs per invoice drop to $2.50 from $5. Surprisingly, however, the most difficult challenge to a shift to electronic processing is changing the behavior of humans who are used to paper transactions.


Managing Risk Proactively 
By Bruce W. Fraser
In the aftermath of 9/11 and the collapse of Enron, companies are reevaluating their risk programs. Here is how J.P. Morgan Chase & Co., Royal Bank of Canada, and J.A. Jones Inc. are systematically analyzing their exposure to financial, natural, and terrorist disasters.


The CFO's Wish List 
By Kevin Collins, CPA
The number of active contracts in a typical Fortune 1,000 company ranges between 20,000 and 40,000, almost impossible for a CFO and staff to monitor in a pre-electronic stage of the economy. With new technological software and tools, CFOs can establish enterprise contract management systems and finally get a handle on all of their vendors.


Cost-Effective Connectivity 
By Elaine Bird
Companies that aren’t prepared for unusual events like earthquakes or prolonged power outages will suffer the consequences, which fall directly to the bottom line. To hedge possible risks, they are establishing storage area networks that also support information recovery in the event of a disaster.

Columns

PERSPECTIVES
IMA board of directors commits to member value.


STRATEGIC MANAGEMENT
Building the verbs of strategy on the nouns of a business.


CAREERS 
Does your company have a code of ethics?


BEST PRACTICES
Beware the man who knows…


TAXES
Deduction of charitable contributions when benefits are received.

Departments

STREETWISE
New accounting watchdog
New FASB projects
The ethical alternative to selfish management
Staffing the SEC
Herbert C. Knortz, President 1985-86
Books: The momentum of globalization


TOOLS OF THE TRADE
Cheap PCs and new pocket tools.


TECH FORUM
Who’d ’a Thought?


XBRL
Who moved my accounting cheese?


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
Computer shooters, take note.


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