News
Cash management shift boosts M&A
Businesses worldwide are accumulating and spending more cash, mostly on mergers and acquisitions, according to four years of research by SunGard. The shift in corporate cash management is also raising new challenges, most of them strategic.Improving performance in local government organisations through better information management
Effective performance management is becoming more important for local government organisations. New CGMA research suggests that finance needs to take a more strategic role in helping these organisations improve in this area. Stuart McGregor, ACMA, CGMA, highlights opportunities to drive better decision-making.Management accountants increasingly confident in the job market
In the annual Chartered Institute of Management Accountants (CIMA) salary survey, management accountants show high levels of satisfaction with their salaries, with 75% of them reporting that they were satisfied or extremely satisfied with their current salary.US board members cite challenges in revenue recognition implementation
Board members of US public companies cite updating systems and policies and revising existing contracts with customers as the most challenging aspects of the new revenue recognition standard issued by the US Financial Accounting Standards Board (FASB), according to a new survey.How to behave at your company party
One way to get better employee engagement: Throw a party for your staff at the end of the year. What should be a joyous occasion can be risky, however. Here’s a primer on how to behave.Keep pushing forward on revenue recognition implementation, experts say
Companies need to keep pushing forward in their revenue recognition implementation despite the potential that the US Financial Accounting Standards Board (FASB) could defer the effective date of the new standard, experts said.US standard-setter considering revenue recognition delay to reduce uncertainty
Members of the US Financial Accounting Standards Board (FASB) plan to visit various companies to gain insight into potential implementation problems as the board considers whether to delay the effective date of the new, converged revenue recognition standard.Would companies use voluntary, additive IFRS option?
Schnurr floated the possibility of keeping US GAAP for US public company financial reporting but also allowing companies the option of reporting supplemental information in IFRS. Schnurr plans to discuss options for additional IFRS reporting with SEC commissioners next year.US securities regulator will seek comments on new possibility for voluntary IFRS adoption
The US Securities and Exchange Commission (SEC) is considering the merits of an informal proposal that would allow voluntary filing of supplemental material in financial statements by US public companies, according to SEC Chief Accountant James Schnurr.4 strategic orientations for CFOs
CFOs are asked to wear many hats in an organisation. As the job’s demands grow, it’s helpful to think about how finance chiefs should approach their strategic role. Deloitte offers four orientations to help CFOs choose how to engage in a company’s strategy.US economy on a roll, according to survey of finance executives
Economic optimism is up from a year ago, led by brighter projections in revenue, profits, and hiring, according to the latest quarterly survey of finance executives in business and industry by the AICPA.What do public companies disclose about auditor relationships?
Proxy reports filed by US public companies often discuss how nonaudit services may affect independence, according to a new report. But other elements of relationships with auditors are disclosed less often.Are employees on the web working or shopping?
As the holiday shopping season begins, an increasing percentage of companies are allowing employees unrestricted access to the internet for e-commerce, according to a new survey.CFOs getting more requests for pay increases and promotions
Forty-three per cent of CFOs said requests for promotions or more money have increased from two years ago, according to a survey by Accountemps. Workers feel more confident about the economy and about job prospects, so they’re more likely to ask for a better title or pay grade.How to interpret the increase in corporate whistleblower reports
Employees’ reports about unethical and non-compliant incidents have gone up in the past five years. Two benchmark reports suggest how companies may interpret the numbers.Pope Francis on the role of accountants in society
In an address in Rome to World Congress of Accountants delegates, Pope Francis reminded accountants that their work is a service to the community and encouraged the profession to use this perspective, along with creativity, to tackle problems such as providing people with dignified work and opportunities to realize their own development.UK FRC rejects call for companies to publish audit inspection grade
The UK Financial Reporting Council (FRC) advised companies not to publish the results of their Audit Quality Report, contrary to recommendations made by the Competition and Markets Authority (CMA) earlier this year.Internal auditors’ job satisfaction higher with incentive pay, survey finds
Internal auditors who receive incentives based on profits or revenue report higher job satisfaction and loyalty to their organisations without having their objectivity compromised, according to a new survey report.Defining roles in prevention of financial reporting fraud
Fraud-resistant organisations possess an ethical culture, encourage scepticism and have all participants in the financial reporting supply chain engaged in preventing fraud, a new report says.
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