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CIMA is an advocate of activity based costing and has created its report to provide NHS trusts with the facts behind Service Level Reporting (SLR) and Patient Level Information and Costing (PLICs). On the one hand Service Level Reporting is advocated by Monitor while the more detailed Patient Level Information and Costing is supported by the Department of Health.

CIMA, which has more members in the public sector than any other accounting body, has produced this report with the CIMA NHS Working Group to harness current thinking on both costings initiatives. The NHS currently faces the challenge of lower levels of financial growth than it has seen in recent years and, with increasing public expectations, the importance of performance management and improved efficiency has never been higher.

CIMA chief executive, Charles Tilley, who is also a non-executive director at Great Ormond Street Hospital for Children NHS Trust, explains:

“Both SLR and PLICs provide intensely useful performance management tools to enable Trusts to achieve increased efficiency, and enhanced, more effective financial control and decision making, especially in light of the expected squeeze on public expenditure. However, with increasing levels of sophistication comes additional complexity and the ability of finance staff to analyse this data will be crucial.”


“Management Accounting  Guidelines” Centrándose en determinados asuntos de gestión financiera, las directrices en contabilidad gerencial “MAGs”  proporcionan orientación sobre las  prácticas de gestión estratégica y conceptos actuales.

Impacting Future Value: How to Manage your Intellectual Capital

Success and future value creation in today’s economy depend on the ownership and appropriate management of intellectual capital. Superior performance is no longer driven by traditional physical assets, but instead primarily by intellectual capital. That term includes knowledge, skills, brands, corporate reputation, relationships, information and data, as well as processes, patents, trust, or an innovative organizational culture. The importance of intellectual capital as an enabler of future performance is now generally accepted among executives throughout the world.  Most organizations, however, still lack practical skills, tools, and techniques to identify, measure, and manage this vital performance driver. This management accounting guideline (MAG) offers practical and easy-to-apply tools and techniques to equip managers and accountants with the necessary skills to successfully manage the intellectual capital of their organizations.

Managing Opportunities and Risks

Risk-taking, the engine driving business, is vital to companies seeking market success. Risks are, however, often thought of only as hazards, despite the fact that they can present significant opportunities and possibilities for organizational innovation and new competitive advantage leading to short- and long-term profitability.  In fact, risk and opportunity are a duality—like two sides to the same coin.  By focusing on the downside of risk companies can sometimes forego opportunities that might initially appear too risky, but which have never been formally analyzed. 

Managing Customer Value

The focus on customer relationship management has become central to all organizations.  Companies have increasingly recognized the significant costs related to the loss of customers and are trying to better understand, measure, manage, and improve customer retention.  Further, these organizations are examining how to measure and improve long term customer lifetime value. This Management Accounting Guideline examines new tools and techniques for measuring and managing customer profitability, retention, and lifetime value.

Outsourcing the Finance and Accounting Functions

Throughout the world, the use of finance and accounting outsourcing (FAO) by small, medium and large enterprises is rising.The number of large FAO contracts (those that cover five or more processes and/or have a contract value of at least $50 million) increased by 45 percent from 2005 to 2007. Most CFOs and other finance and accounting managers can count on having to weigh the pros and cons of outsourcing; many will play key roles in managing outsourcing relationships with external providers. This management accounting guideline (MAG) provides guidance on

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