Resources & Publications

Strategic Finance May 2003

May 2003
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Features

Check Your D&O Insurance
By R. Mark Keenan, Esq.
Hundreds of class action securities claims have been filed in the wake of the financial collapse of major corporations. Moreover, rule changes enacted by the Sarbanes-Oxley Act and others endorsed by the New York Stock Exchange, the American Stock Exchange, and NASDAQ have increased the exposure of independent directors. That is why independent directors should carefully review their directors’ and officers’ insurance contracts.


Robert Mundell On Economic Recovery
By Ramona Dzinkowski
This Columbia University economics professor, and 1999 Nobel Prize winner, says the Bush plan to eliminate double taxation of dividends is the second-best approach. What we should do to spur growth is eliminate the corporation tax. He warns that the growing U.S. debt in the world economy is a bigger problem than the ballooning national debt.


Intranet Budgeting Does The Trick 
By Peter T. Smith, CMA, CFM, Craig A. Goranson and Mary F. Astley
In a time-consuming process, more than 100 budgets were prepared on Excel spreadsheets annually at the Facilities & Operations Business Office of the Battelle, Pacific Northwest National Laboratory. These spreadsheets were then uploaded into the database. PNNL streamlined this cumbersome approach by building an Intranet-based budget and planning system that provides “one-stop shopping” to all with overhead planning, budgeting, and reporting with real-time data and up-to-the-minute reports.


Financial Reporting Integrity: IMA Members Speak Out 
By Pervaiz Alam, CPA, Norman Meonske, CPA, and Michael A. Pearson, CMA, CPA
At a conference sponsored by IMA's Ohio Council and Kent State University, members expressed support for the Financial Accounting Standards Board and disapproval of a role by Congress in establishing accounting standards. Opinions were mixed, however, as to whether firms should be allowed to provide both auditing and consulting services to the same client company.


You're Out! 
By Carolyn Harshbarger
The best time to prepare a résumé is before you are terminated. In a struggling economy, job seekers have to be especially agile, says this veteran of corporate downsizing. The process of finding a new job is a full-time job, which means employing all the resources you have including ads, Internet sites, placement firms, executive search firms, friends, neighbors, relatives, and business acquaintances. At the same time, prepare yourself mentally and physically with an inventory of assets and liabilities and health checkup to storm that barrier one more time.

Columns

PERSPECTIVES
At the simple drop of an e-mail…


STRATEGIC MANAGEMENT
What’s missing in our strategic plans?


CAREERS 
Building better rapport with your boss.


TAXES
State compliance with the Job Creation and Worker Assistance Act of 2002.


IMA
Larry R. White named IMA president-elect.

Departments

STREETWISE
SEC chooses William McDonough to head PCAOB
E-commerce security
New evidence of benefits from effective ethics systems
FASB under congressional lens
Books: Creating trust in corporate reporting


TOOLS OF THE TRADE
A classic refined.


TECH FORUM
Google—an index for the world.


TRENDS IN FINANCIAL MANAGEMENT
Does it make sense to pay dividends?


EDUCATION
Electronic access to cost/managerial accounting journals.


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
A Mozart with numbers.


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