Financial managers: Business Advocates or Corporate Cops?

Article Abstract:

Financial executives who wish to contribute to the reengineering campaigns of their companies can adopt the Business Advocate model to better integrate financial work into the operational fabric of their companies. In the Business Advocate model, financial executives are guided by four core values: responsibility, focus, role and service. As such, financial executives serve business units and top management, play the roles of team player and expert commentator, focus on competition and capital issues, while providing financial support in budgeting and reporting matters. In other words, they act as business advocates who concentrate on becoming integrators and educators within their companies rather than on being corporate policemen. The financial organization of Tektronics' Circuit Board Div. provides a good example of how the Business Advocate model can be implemented.

Methods, Analysis, Organizational change, Financial management, Managerial accounting

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Telephone industry develops new cost standards

Article Abstract:

A detailed cost accounting system was installed in the larger telephone companies on Jan 1, 1988, the culmination of a decade of work to upgrade a system that had not been changed since the 1930's. The Federal Communications Commission (FCC) ordered the new system because of the deregulation of the telephone industry. The new system includes safeguard requirements for telephone companies to enter non-regulated marketplaces. The FCC required companies with $100 million in annual revenue to submit cost manuals for review and approval, and many of the principles and procedures in the manuals provided the framework for the development of the new cost accounting system. The new system can provide safeguards against the cross-subsidization of non-regulated businesses by regulated businesses, so many barriers to entry into lucrative service markets will be eliminated.

Telephone Communication, Management, Laws, regulations and rules, Finance, Telecommunications services industry, United States. Federal Communications Commission, Cost accounting

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