November 2007
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From Workout to Winning
Bridget Lyons and Robert Hardy
Administrators at Sacred Heart University spent three years implementing the General Electric (GE) workout process to identify and improve inefficient processes. Their success demonstrates how other not-for-profit organizations can adopt the process and reap the benefits.
Why Project Accounting?
Curt Finch
In the era of the knowledge worker, knowing your costs by project is imperative. Implementing a time-tracking environment enables you to create financial estimates based on a per-person, per-project basis, thus getting a better picture of which projects are making money and which aren’t.
Consulting the Consultants—Using External Services Strategically
Stacy E. Kovar, CPA, and Elaine G. Mauldin, CPA
Whether they prefer to or not, most companies use external help to perform various services. A survey of CFOs and other high-ranking individuals examines effective methods for choosing a consultant and getting the most from the investment.
Test Your Ethical Judgment
Kay Zekany, CMA
Has the public become so inured to reading about accounting scandals and corporate fraud that the reputation of accountants is beyond repair? If so, the author argues that it makes for all the more reason that accountants need to be acutely aware of possible ethical wrongdoing in the workplace. See how your ethical judgment fares in 14 short business scenarios.
Private Companies Cash in on “Private” Insurance
Cathie Beck
Midsized companies are taking advantage of updated tax rulings to form their own private insurance companies to help protect against risks not covered by third-party insurance policies. Also known as captive insurance companies, they represent an effective part of a risk management program and offer an opportunity to save money on premiums and gain tax benefits.
How Has SOX Affected Foreign Private Issuers?
Joern Schlimm
The debate over the cost and value of the Sarbanes-Oxley Act (SOX), particularly Sections 302 and 404, isn’t just domestic. It’s also taking place in companies and countries around the world. While some see SOX as an opportunity, many foreign private issuers (FPIs) have been forced to examine if the benefits of being listed on a U.S. market outweigh the costs of compliance.
PERSPECTIVES
Supporting our CMAs.
BEST PRACTICES
A can of worms.
TAXES
Proposed legislation for publicly traded partnerships, Part 2.
ETHICS
Siemens AG is the latest fallen ethics idol.
EXCEL
Dealing with poorly formatted data in Excel.
XBRL
It’s time for XBRL GL pilots.
STREETWISE
Fraud remains pervasive, PWC study shows
Being a team player
IMA signs cooperative agreement with NAF
SEC moves closer to mandating XBRL
Books: How good companies go bad
CMA examination in Arabic
TOOLS OF THE TRADE
TECH FORUM
The big blue onion.
END NOTE
The 2007 Ig Nobels.
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