Resources & Publications

Strategic Finance August 2003

August 2003
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Features

Taking Performance Management To The Next Level
By Anthony L. Politano
Measuring performance entails a look back at history, but some companies are using these techniques married with scenario-based planning to focus on future performance. By generating what-if scenarios and applying performance management tools to each one, corporate management can choose an optimal solution going forward and increase its competitive advantage.


Kim R. Wallin, CMA, CFM, CPA: Rekindling IMA's Spirit
By Kathy Williams
Kim R. Wallin, IMA Chair for 2003-04, aims to bring new energy and ideas to the Institute. Her priorities: Promote the value of the CMA and CFM to corporations and industry professionals, change the chapter model to attract new members in order to revitalize IMA for the 21st Century, and rekindle a spirit of camaraderie.


The Power Of Effective Procurement And Strategic Suppliers 
By Jay Baitler
Once considered purely a back-office activity, the purchasing function is now seen as a revenue generator by forward-looking companies. An executive at Staples, a major supplier of office products, describes how his company works with its customers to develop a frictionless procurement process that drives out costs.


Provocative Pension Accounting 
By Ole-Kristian Hope, CMA, CFM, CPA
The British may actually have a better handle on accounting for pensions than the complicated rules that govern pension cost accounting in the U.S.


Enabling Execution 
By Andrew Spanyi
In one of the most turbulent business environments ever faced by current business managers, the key to success is to focus on business processes—not on functional thinking. Instead of concentrating on meeting the numbers and protecting departmental “turfs,” management must zero in on the core activities of delivering products and services to customers. The CFO’s critical role: Stress that strategy must begin with the customer—not with the numbers.


Whistleblowers: A Rare Breed 
By Grover L. Porter, CPA
This CFO objected to his company’s keeping a second set of books, just for the government, and was summarily fired. He persisted, brought suit, and eventually won, but the emotional and financial costs burdened his family for years.


What ERP Can Offer ABC 
By Sidney J. Baxendale, CMA, CFM, CPA, and Farah Jama
Rarely found in the accounting system, activity cost drivers often are generated by “back-of-an-envelope” calculations. But more often than not, the drivers that are needed to validate the activity-based cost system can be found in an enterprise resource planning (ERP) system, increasing the reliability of the ABC information.

Columns

PERSPECTIVES
CMA review course.


STRATEGIC MANAGEMENT
Mission driven strategy.


BEST PRACTICES 
Work/life balance: Avoid relationship potholes.


CAREERS
Well said: How to give an effective presentation.


TAXES
Final regulations for IRA earnings calculation - Part 1.

Departments

STREETWISE
George Batavick named to FASB
Financial management website
Is ethics education of future business leaders adequate?
Some in Congress seek to foreclose FASB action on stock options
Books: Building client loyalty


TOOLS OF THE TRADE
High-tech vacation.


TECH FORUM
Sneaking bits in and out of the house.


TRENDS IN FINANCIAL MANAGEMENT
Bonding with buyers.


XBRL
XBRL for general ledger, the journal taxonomy.


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
Traveling with cash.


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