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Rewards and Realities of German Cost Accounting
By Kip R. Krumwiede, CMA, CPA
Could German cost accounting practices be one of the cures for what ails cost management at U.S. companies? Many U.S. firms have invested millions in integrated systems but don't take advantage of what the systems can do for cost analysis. This survey describes how some major German companies use the latest cost accounting techniques.
Going for GPK
By Carl S. Smith, CMA, CFM, CPA
Andreas STIHL, a German manufacturer of landscaping products, generates both GAAP and GPK reports. When the parent company required its U.S. subsidiary to implement GPK in 2004, the accounting staff of Virginia-based STIHL Inc. had to solve a number of issues relevant to the implementation of the technique in the United States - a continuing project that IMA is researching.
How to Be a Great Financial Analyst
By Steve Spiech, CMA, CFM
Great analysts consider their work to be analysis rather than reporting. They don't get lost in the details or hung up in nonmaterial issues. Instead, they delve down into numbers until they reach the "Eureka!" moment that permits them to see the big picture and guide management with valuable insights. They think like an entrepreneur and mine data from informal sources to discover what the numbers really mean.
Using Excel to Ferret Out Fraud
By Thomas A. Buckhoff, CPA, CFE, and Bonita K. Peterson Kramer, CMA, CPA, CIA
This true case of fraud at a company operating grocery supermarkets shows how you can ferret out suspicious vendors by using an Excel function called Autofilter. Once the fraud was suspected, experts very quickly narrowed the suspects down using this function and zeroed in on the culprit.
Is TOC for You?
By Linda E. Holmes, CMA, and Ann B. Hendricks, CMA, CPA
The theory of constraints can be applied to make work in process more efficient and cost effective, but if TOC is implemented in conjunction with total quality management and continuous improvement principles, the results may be counterproductive. TOC and the five accounting "truths" described here are like oil and water: They don't mix.
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SEC roundtable on Section 404
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