Troubleshooters become agents of change

Article Abstract:

Management consultancy firms in the UK have been expanding at a rate ten times faster than general economic growth. The Management Consultancies Association's (MCA) 27 member companies employ 4,300 consultants, and make up 65% of UK fee-earning consultancies. 1987 fee income for MCA members was 294.4 million pounds sterling, up from 228.2 million in 1986, with 194 million coming from the private sector. The two major fields of consultancy activity were information technology (34.7%), and finance and administration (21.5%). Consultancy firms fall into several categories: large, independent, US-oriented general practice companies; human resources firms; accountancy firms which have expanded into management consultancy; and highly-specialized firms. Differences in company cultures, methods of choosing a consultancy, and developing an in-house consultancy are also discussed.

Accountants, Business consultants, Management consultants

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Stimulation or revolution?

Article Abstract:

Institute of Chartered Accountants of Scotland has recently published a document entitled Making Corporate Reports Valuable in which it advocates several radical changes in the current conventions of corporate financial reporting. The document criticizes the failure of most of today's financial reports in portraying companies' economic realities to investors. The Institute offers short-term solutions, such as revaluing fixed assets at least once every five years, and long-term solutions,such as using current net realizable value as an alternative to historic cost.

Publishing industry, Accounting, Corporation reports, Company reports, Institute of Chartered Accountants of Scotland

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