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Strategic Finance December 2005

December 2005
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Features

Financial Executive of the Year
Jacqualyn Fouse, senior vice president and chief financial officer of Alcon Laboratories, helped lead her company to double-digit sales growth during the last three years. That is why she was selected as the national 2005 Financial Executive of the Year in an annual program sponsored by the Institute of Management Accountants and Robert Half International. Twenty other financial executives were honored as the regional 2005 Financial Executives of the Year.


Who's Minding the Gate?
By Edward E. Sharkey
Corporate pension plan committees often rely on consultants who have conflicting interests. As a result, the plan suffers while the consultant, the gatekeeper for the plan, prospers. Regulatory bodies now require pension committees to determine the objectivity of any prospective pension consultant.


Global Economic Impacts on Strategic Financial Management
By Ramona Dzinkowski
Future shocks are inevitable in a world where global networks of information, supply, production, and distribution are becoming more intertwined, Chaos Theory experts say. This prediction of major disruptions in commerce and communication networks imposes a greater burden on management skills. That was one of the key messages at the annual meeting of the National Association for Business Economics. Other challenges for financial managers included globalization, complex capital markets, and impacts on the economy from Hurricanes Katrina and Rita.


Making Cents Out of the Hiring Process 
By Jennifer Sanford
Employee turnover—not just corporate managers but hourly workers, especially—can exact a huge hit to your productivity and bottom line. Proactive recruiting isn’t the answer: Effective recruiting is. Give your managers the tools to hire effectively and then help them create a culture of quality service, says this recruiting expert, who offers a hiring “toolkit” to help companies improve their hiring and turnover ratio.


Independence - Perception or Reality? 
By Douglas L. Smith, CMA, CFM, CPA, and Frank C. Minter, CPA
The retired CEO of a major CPA firm is named chair of the audit committee of one of the firm's current clients. Would this appointment meet the criteria of independence mandated by the Sarbanes-Oxley Act and other corporate rule makers? In light of former CEO Bernie Ebbers' complaint that he was misled by WorldCom statements, can a former CEO on the audit committee actually be considered a "financial expert"? Perhaps, based on past corporate scandals, perception is reality.


Managing Your Multigenerational Workforce 
By Dana Kyles
Communications among a team composed of four different generations can disintegrate and cause production to implode. If you understand where Matures, Baby Boomers, Generation Xers, and Nexters are coming from, however, you can leverage their abilities and increase efficiency.

Columns

PERSPECTIVES
Tis the season.


BEST PRACTICES
And now a word from our sponsors.


CAREERS 
A new game plan for career success.


TAXES
Tax issues for individual victims of natural disasters.


ETHICS
Ethical culture: most important barrier to ethical misconduct.


XBRL
The cost accountant is dead; long live the business process analyst.


FINANCIAL TRENDS
Keeping Pension Promises.

Departments

STREETWISE
Scott Taub named SEC acting chief accountant
Make CMA the gold standard
IMA: back to the future
SEC extends 404 reporting for accelerated filers
Books: Outsourcing successfully


TOOLS OF THE TRADE
Bytes and books.


TECH FORUM
Googlebooks.


END NOTE
Lost at sea.


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