Resources & Publications

Strategic Finance September 2005

September 2005
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Features

Measure Twice, Cut Once: Creating and Measuring Value in the Private Firm
By Peter Leitner, CMA, CFM
Private companies are used to operating in a "safe harbor" undisturbed by SEC requirements or the rise and fall of the stock market. But now global competition across basic, high-tech, and service industries is pinching even the smallest companies in previously secure niches. They are discovering that, like public companies, they have to create and manage value to remain attractive in their industry or to attract potential merger partners or buyers. Absent the daily stock market valuations of public companies, private firms are turning to multiple experts who independently value the firm and then price it in a secure market where its leadership can see value emerge in real time. Result: a flow of information that has long been an advantage of publicly traded firms.


Financial Restatements: Causes, Consequences, and Corrections
By Erik Linn, CPA, and Kori Diehl, CPA
In today's corporate world, "extreme makeover" isn't a TV show but a major corporate restatement, which can cost millions. Thanks to the Sarbanes-Oxley Act and well-publicized corporate accounting failures, many companies are focusing on their accounting systems and tightening controls. One controller of a large company, for example, disclosed he was the only person in the firm with knowledge of the monthly closing process checklist.


Are You a Jupiter or a Pluto?
By Sandra Ford Walston
When assigned a task, a Jupiter is inclined to do it immediately, while a Pluto tends to put it off until the last minute. There is no "right" approach for time management, but it's important that you understand your fellow workers' and supervisors' styles and try to build bridges between their Jupiter and your Pluto, or vice versa.


IMA Student Case Competition
Creating a Lean Enterprise: The Case of the Lebanon Gasket Company
 
By Peter C. Brewer, CPA, and Frances A. Kennedy, CPA
How can the accounting function better serve the senior management team's strategic planning, control, and decision-making effort within a lean environment? This IMA Student Case Study asks students to act as consultants to a fictitious gasket manufacturer that is seeking to become a lean, streamlined, and profitable company.

Columns

PERSPECTIVES
IMA - an advocate for the profession.


BEST PRACTICES
Mind-set.


CAREERS 
Targeting today's entry-level candidates.


TAXES 
Flexible spending plan regs amended.


ETHICS
AIG remediation emphasizes compliance, but not ethics.


ACADEMIC CORNER
Accounting educators, take note.


XBRL
XBRL GL: the general ledger gets its groove.


FINANCIAL TRENDS
A cautionary tale of corporate crime.

Departments

STREETWISE
How is your company managing risk?
Is your small business healthy?
Corporate credit ratings at issue
Books: Activity-based life-cycle costing.


TOOLS OF THE TRADE
Satellites, networks, and audits.


TECH FORUM
Entering stage three.


END NOTE
Infospheres.


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