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CIMA Chartered Institute of Management Accountants supports IFAC report on the financial reporting supply chain

07 March 2008

CIMA (Chartered Institute of Management Accountants) will contribute to the debate on ‘Financial Reporting Supply Chain Survey: Current Perspectives and Directions’ – a report commissioned by the International Federation of Accountants (IFAC).

The report, which launched today (7 March GMT), was overseen by Norman Lyle, a former CIMA President and retired group finance director of Jardine Matheson Holdings Ltd in Hong Kong. In recent years, there have been significant efforts to change and improve financial reporting and the IFAC survey was set up to explore the result of these efforts by conducting interviews on a global scale with key stakeholder groups within the financial reporting supply chain.

Central themes explored within the report include whether or not the financial reporting process has improved, if financial reports have become more or less relevant, and what the next steps for corporate reporting around the world are.

CIMA welcomes the report as a key contribution to the debate on which direction the future of financial reporting should take. Norman Lyle recently presented his research to a roundtable event hosted by CIMA in London. The Institute will be releasing an executive summary that will draw upon the various findings of the IFAC survey, featuring contributions by leading figures in the finance reporting supply chain who attended the CIMA debate.


El CIMA se manifiesta sobre el entendimiento de las compañías manufactureras acerca de Lean Accounting

29 September 2008

A new study has found that a large percentage of UK manufacturing companies have a lack of understanding about lean accounting.

Research by BDO Stoy Hayward and The Manufacturer found that only 14 per cent of companies have adopted lean accounting strategies to date.

Accountancy magazine reports that 60 per cent of respondents admitted to not understanding the process, with 51 per cent also lacking an understanding "of the benefits of the system".

It was also found that up to a quarter of those surveyed planned to implement lean accounting methods in the next "couple of years".

Tom Lawton, head of manufacturing at BDO Stoy Hayward, told the website that lean accounting "can provide strong support" when adopted.

"Manufacturers are not using the right financial metrics in measuring and monitoring their improvements under lean manufacturing," he added.

The Financial Services Authority recently fined GE Money Home Lending £1.12 million for failing to inform customers they would be charged interest during the six month retention period.


El  CIMA (Chartered Institute of Management Accountants) se pronuncia sobre la complejidad de los sistemas de costeo de NHS

03 December 2008

CIMA (Chartered Institute of Management Accountants) will today (03 December) launch its report ‘Transparency & Accountability: using better data to drive performance in the NHS’ to an audience of senior healthcare professionals at the HfMA (Healthcare Financial Management Association) annual conference in London.

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