Resources & Publications

Strategic Finance December 2004

December 2004
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Features

Financial Executive of the Year
Peggy Scott, executive vice president and chief financial officer of Pan-American Life Insurance Company, is the 2004 Financial Executive of the Year. Eleven other executives, chosen by participating IMA councils, were honored for their exceptional achievements in the finance and accounting fields in this annual program sponsored by Robert Half International Inc. and IMA.


Lessons from German Cost Accounting
By Paul A. Sharman, ACMA, and Kurt Vikas
Management accounting practices in German-speaking countries are more highly developed than in U.S. companies, which tend to emphasize financial accounting and regulatory reporting. Working inside organizations to provide fiduciary controls, proper governance, and business planning, however, is the biggest and most important job of all. By combining the German management accounting model with the best ABC practices, managerial finance professionals can partner with business managers at all levels to create value for shareholders and customers alike.


The Economics of Corporate Profitability
By Ramona Dzinkowski
In this exclusive interview with a Strategic Finance writer, John Lipsky, chief economist at JP Morgan Chase, sees solid growth in the U.S. economy, citing high corporate profits and strong cash flow. He notes that companies have been successful in their cost-cutting efforts but says a key issue is whether or not corporate America can continue to improve productivity.


Reading Between the Numbers 
By Michael Paris and Dan Brassard
Our accounting systems mislead as often as they enlighten, say these consultants, pointing out that some companies have outsourced their operations only to discover they are paying just as much, if not more, overhead. Their advice: Any operation that's big enough to be well-managed, well-maintained, and well-staffed should have a competitive advantage; don't give it away.


How to Deal with Criticism More Effectively 
By James D. Kimes, CMA
Criticism is probably the most underused or misused tool in a manager's kit. It can be either positive or negative depending on how it's pitched and how it's received. A veteran financial executive gives some pointers both on how to criticize a team member's inadequate performance and get a positive reaction and how to profit from your manager's critique.

Columns

PERSPECTIVES
Management accounting - rebuilding international recognition.


STRATEGIC MANAGEMENT
Growth isn't always good: knowing when and where to grow.


BEST PRACTICES 
Changing our relation to time.


CAREERS 
Maximizing the performance of new hires.


TAXES
Fringe benefits: employer gifts.


ETHICS
Survey shows need for more ethics awareness.


XBRL
IMA supports voluntary XBRL filing program.


CERTIFICATION
Penn State leads in CMA exam completers in 2002.

Departments

STREETWISE
How does your company measure performance?
2005 salary guide is available
Benchmarks drive performance
Congress tries end-around on FASB stock options
Books: When leadership fails.


TOOLS OF THE TRADE
Computers for pockets and the coffee table.


TECH FORUM
The sound of one hand typing.


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
The nickel's westward trek.


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