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RCA at Clopay
By B. Douglas Clinton, CPA, and Sally A. Webber, CPA
Resource Consumption Accounting based on German cost management principles helped this Ohio plastics company get a better handle on its costs. RCA enabled the company to generate more specific strategic cost information, thus improving decision making throughout the organization.
Caution: Fraud Overhead
By John B. MacArthur, FCCA; Bobby E. Waldrup, CPA; and Gary R. Fane, CMA, CPA
The transition from a family-owned, micro company to a mid-sized company can be perilous as illustrated by this case of a controller who buried thefts of thousands of dollars in an overhead account. The moral: Owners/CEOs must ensure that internal controls are sufficient to detect theft when a company's growth exceeds the founder's original "walk-around" span of control.
Bring Back the Generalist
By Gregory F. Pashke, CMA, CFM, CPA
The trend is for more specialization in every field including accounting (note the author's certifications), but there also is a need for individuals like the late scientist, Carl Sagan, who made the whole universe intelligible to a vast audience. Generalist skills are needed today to leverage and integrate the specialized knowledge that is necessary in our complex society.
By Doug Bley
The key to reducing logistics costs is communication throughout the organization so that logistics managers and CFOs are on the same page. Once this is accomplished, they may be surprised to find that choosing a higher delivery cost could reduce total supply chain costs when customer returns, adjustments for damages, restocking costs, or quality inspections are taken into account.
How Dashboards Can Change Your Culture
By Colin Dover
Wouldn't it be nice if you had all the indicators of your business' progress right in front of you like your car's front panel display? Accounting dashboards are designed to compile all relevant corporate data in a readily accessible format, but dashboards only succeed when managers have 100% accessibility into the data that feeds the application.
The Ever-Changing Landscape of Corporate Governance
By Chris Scherpenseel, CPA
As a result of corporate scandals in the 1990s, which led directly to the Sarbanes-Oxley Act, there is increased scrutiny on corporate governance today. This CEO says SOX has changed the game by adding substantial costs for compliance and changing the focus of public companies from quarterly earnings to serving stockholders with accurate and full disclosure of accounting.
Improving CMA and CFM recognition.
Recognizing potential stars by promoting from within.
Advance pricing agreements: a chance for certainty amidst chaos, part 2.
Does superior governance still lead to better financial performance?
XBRL grows fast in Europe.
International standards convergence still faces challenges
IFAC publishes award-winning articles
Do you want to participate in a scorecard study?
Business takes a "wait & see" on changes to Sarbanes-Oxley
Books: Increase your emotional intelligence
Clemens A. Erdahl, 1919-2004
TOOLS OF THE TRADE
Reading, writing, and photography tricks.
A pebble in a mudslide.
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.
A bad moon rising.