Resources & Publications

Strategic Finance September 2008

September 2008
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Features

Seven Habits of Strategic CFOs
Kurt Kuehn
The role of the CFO has expanded greatly. Traditionally serving as a company’s financial gatekeeper, CFOs have added many more functions to their repertoire. Today’s CFOs play a bigger role in devising corporate strategy and have a unique perspective from which to act as an agent of change. In this article, the CFO of UPS presents seven habits that CFOs can employ to help ensure company growth and sustain positive results.


Can Regulations Curb Excessive Executive Pay?
Terry Grant, CPA, and Gerry H. Grant, CPA
Since the early 1990s, the compensation received by CEOs and other top executives at public companies in the United States has far outpaced the increase in net revenues and other measures of company growth. The SEC, Congress, and FASB have passed regulations and standards in an effort to slow down the rapid increase of executive compensation rates as well as bring improved transparency and clarity to executive pay, but salaries are still skyrocketing. Shareholders in various companies are now trying to get their voices heard by approving nonbinding “say-on-pay” votes and increasing shareholder governance.


IFRS in America—When?
Ramona Dzinkowski
As the IASB and FASB continue to work toward convergence of IFRS and U.S. GAAP, differing opinions seem to be surfacing between these groups and the SEC regarding how and when convergence or adoption will occur. The SEC seems to be taking a wait-and-see approach before taking any action, yet stakeholders in the financial reporting community would like the Commission to set a hard target date for adoption. This will help many of the disparate groups to move forward in preparations, including training auditors, implementing the appropriate changes in accounting education, and preparing company processes and infrastructure for the changeover.


IMA Student Case Competition
Academic Advising at Bay State By Janice E. Bell, CPA, and Shahid L. Ansari
In this case study, students assume a role as a member of the task force charged with improving the academic advising functions performed by the College of Business at Bay State University, a fictional public state school. The university president would like the task force to make budget recommendations for the upcoming year and specific suggestions regarding how to cut recurring operating costs by 15% while improving the advising function’s performance against various benchmarks.

Columns

PERSPECTIVES
Planning ahead.


TAXES
Mortgage forgiveness debt relief.


BEST PRACTICES
A corporate virus?


STRATEGIC MANAGEMENT
Shareholder value reviews.


ETHICS 
Should CPA candidates be tested on business ethics?


EXCEL 
Looking up data from worksheets using INDIRECT.


XBRL 
The other side of the bridge: XBRL GL and transactions.


FINANCIAL REPORTING
Myths and facts about convergence.

Departments

STREETWISE
Larry White will head new RCA institute
SEC announces IDEA
Letters: “Giving”
Pozen recs to SEC on financial reporting fall short
Books: Measuring the “immeasurable.”


TOOLS OF THE TRADE


TECH FORUM
The Kroll Global Fraud Report—Part 1.


END NOTE
Encyclopédie v.3.


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