Institute's clean sweep

Article Abstract:

The decision by the UK Chartered Institute of Management Accountants (Cima) to link with several energy management organizations to produce an information leaflet designed to assist companies in meeting environmental standards is a sign of the growing confidence of the management accounting profession as a whole. Cima believes that accountants have a very important role to play in reporting on environmental issues, and that they can also encourage companies to make the correct decisions on these issues. The information leaflet aims to raise awareness about issues such as the financial implications of not meeting environmental requirements.

Methods, Practice, Environmental auditing, Managerial accounting

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Accountants add one and one to make a big five

Article Abstract:

It is likely that there will be a considerable number of mergers among smaller accounting firms in the UK following the merger of Price Waterhouse and Coopers & Lybrand, two of the country's leading six accounting firms, to form PricewaterhouseCoopers. It appears that many medium-sized firms do not feel that they have the critical mass required to attract the clients that will inevitably be lost by the largest firms as they become more global in their outlook. Some observers are expressing fears that mergers will be arranged for the wrong reasons, including postponing financial disaster.

Management

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So who will pay for the mergers?

Article Abstract:

Mergers between large accounting firms can bring significant benefits, but they are also likely to be very expensive. This can in turn have a negative impact on the income and pension contributions of the firms' partners. In some cases, partners can be prompted to seek alternative employment. In the case of the planned merger between Ernst and Young and KPMG, for example, the merged operation will need to invest at least $500,000 a year in upgrading IT systems and running units abroad.

Finance

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