The man with the global view

Article Abstract:

Former International Federation of Accountants (IFAC) Pres Richard Wilkes has been named the Institute of Chartered Accountants in England and Wales' International Award Winner for 1990. Wilkes has been at the forefront of practitioners who have brought about the creation of international accounting standards in order to increase comparability in accounting standards across countries. As president of the IFAC, Wilkes helped establish the International Capital Markets Group, which offers advice on the flow of international capital through capital markets, and helped widen the IFAC's membership base. Wilkes believes that there are four major issues the IFAC must face: continuing the international standard setting process, promoting awareness of the international standards, implementing the standard on comparability, and encouraging the work of accounting technicians.

Officials and employees, Accounting, Institute of Chartered Accountants in England and Wales, Achievements and awards, Accountants, International Federation of Accountants, Wilkes, Richard

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Woolworth v Dixons: high noon on High Street

Article Abstract:

The attempt by U.K. retailer Dixons to take over the Woolworth group in Great Britain has become increasingly hostile, with each side disputing the financial statements and management competence of the other. Dixons, which initially offered 1.6 billion pounds sterling, claims that Woolworth's suffers from low margins and poor management. Woolworth's counters that it is financially healthy and that Dixons is incapable of running a large diversified retail operation. The differing management styles and accounting procedures of the two firms are discussed in detail.

MISCELLANEOUS RETAIL, Case studies, Mergers, acquisitions and divestments, Acquisitions and mergers, Dixons Group PLC, Woolworth Holdings PLC

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