News
European Central Bank holds key interest rate at 1%
The European Central Bank held its main fixed interest rate at 1%, deciding not to make a cut that would have sent the rate to an unprecedented low.The look ahead: Chinese VP to talk trade with US; manufacturing and trade indicators due out
A visit to Washington by Chinese Vice President Xi Jinping, reports on the ailing European economy, and figures on US retail sales, homebuilding and jobless claims will be atop the economic news agenda in the coming week.Managing fraud risk: Preparing a response plan
In this snapshot of the CGMA report “Fraud risk management: A guide to good practice”, Gillian Lees, CIMA’s head of corporate governance, highlights how properly responding to fraud can make or break an organisation’s recovery from an incident.Recession threat is top risk for banking, global execs say
The fragile world economy, which has been staggered by the European debt crisis, has global banking executives reporting greater anxiety than at any time measured during the past 14 years, a new survey shows.US tech firm CFOs less optimistic about 2012 revenue
CFOs at US technology companies expect revenue to rise in 2012, but they have set the bar much lower than they did a year ago. Nearly three in four participants in the fifth annual “BDO Technology Outlook Survey” expect their company’s revenue to increase by about 2.6% – significantly short of the 10.4% jump projected in last year’s poll.Regulation, uncertainty biggest challenges for small, medium businesses, poll says
Regulation and economic uncertainty are the biggest challenges faced by small businesses globally, an International Federation of Accountants (IFAC) survey of small and medium-size accounting practices (SMPs) suggests.The look ahead: Economic news to monitor during the week of February 6th
Economists will get a better sense of where the global economy is headed when reports on European interest rates, international trade and the US labour market are released next week.Move into strategic roles challenging finance teams, survey says
A Deloitte survey shows that strategy setting is becoming a higher priority for finance teams, which are encountering challenges as a result.More than half of growth market deals fail to happen, PwC warns
Many planned deals in growth markets fail to materialise, and those that do happen are often more costly than expected, according to research by PricewaterhouseCoopers. In examining 200 deals, PwC identified a number of common problems. Accountancy Live, January 19th 2012CFO Katie Fung on steering Embry’s expansion into the mainland
Katie Fung, CFO of the listed lingerie company Embry Holdings, talks about the company’s expansion into mainland China. In this article from the Hong Kong Institute of CPAs’ A Plus magazine, Fung shares insights about retailing, manufacturing and material costs. A Plus, January 2012Welcome
A welcome letter from Charles Tilley, FCMA, CGMA, Chief Executive, CIMA, and Barry Melancon, CPA, CGMA, President & CEO, AICPA.Shared services: The keys to success
Shared services are no longer solely the preserve of large organisations. So what are the benefits for midsize businesses, and how can they manage a successful transition to shared services? Shared service centres rose to prominence in the early 1990s, when far-flung companies decided to end back-office duplication. Instead ofSustainability strategies: The finance team’s role
What does “sustainability” mean in practice to finance chiefs in the US and Europe? CGMA Magazine asked the CFOs of iconic furniture maker Herman Miller, shipping giant UPS, infrastructure builder Balfour Beatty, technology group ABB and power supplier EDF Energy to explain the bottom-line benefits of their sustainability strategies.Winning KPIs
Accurate and appropriate definition of KPIs is vital for the effective use of Balanced Scorecards, argues David Parmenter. Here are six ways to adapt and apply the BSC model to the contemporary business environment.Reforms in west and central Africa improving business environment
A new study finds that a coalition of nations in west and central Africa has accelerated the pace of business reform, making it easier for entrepreneurs to operate there.Emerging markets look bullish
Equities in emerging markets – especially Brazil, Russia, India and China – have surged in January. Funds that saw big losses last year are enjoying a recovery in 2012. But factors in the US and Europe might keep investors from selling just yet, analysts say. Forbes.com, January 27th 2012US private companies keeping tight line on expenses
After years of declines, private companies are seeing gains in sales. But that’s not enough for executives to spend more on overhead. Forbes, January 18th 2012Wet weather drying up revenue
Floods in Thailand are dealing companies a one-two punch. Supply chains are being slowed, hampering companies’ ability to fill orders. Meanwhile, costs – especially for insurance – are expected to rise because of the natural disaster. CFO.com, January 26th 2012Revenue revised
The global accounting profession has given a cautious welcome to the latest exposure draft on accounting standards for revenue recognition. Experts say that the proposed changes represent a move towards a clearer, more consistent standard, though some issues remain unresolved.
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