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Cost management

Articles, reports and other resources that enable accountants in business to make a real difference to their organisations by providing them with practical information on the latest thinking in cost management.

Internal audit - Members opinions

In the February issue of Finance & Management, we published an article by Robin Pritchard, of the Centre for Internal Audit, Risk Management and Governance at Birmingham City University. The piece focused on the need for audit committees to demand more of their internal audit function, and for internal audit to take a more proactive role in the business.

Hospitable me

Entertaining clients can be essential to sealing the deal, but it's a marketing expense that must be monitored and justified. Martin Finn asks how best to wine and dine on account.

Why don't back-office efficiency drives work?

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A granular look at back-office operations shows why across-the board cuts make no sense. Marco Ferber, Jürgen Geiger and Klaus Kunkel explain.

Improving undocumented processes

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In most organisations there are hidden opportunities to reduce costs and create spare capacity. Finance can – with employees’ help – uncover and exploit these, as Brian Plowman explains.

Keep your showers tepid even when the boiler is back on

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The tight cost controls imposed out of necessity in tough times, are also a good idea when conditions improve, says Simon Hill. Below he outlines his top tips for retaining those finance ‘good hygiene’ habits.

Cost to support decision making

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To be an effective strategic business partner, the professional accountant in business needs to have a deep and critical understanding of the organisation’s costs. Stathis Gould from the International Federation of Accountants (IFAC) explains some recently produced guidance on this topic.

The intelligent way to cut costs

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Amid a global economic crisis, driving down costs - without damaging the business - is a vital objective. In this edited extract from his recent book, Andrew Wileman explains how to achieve intelligent economies through 'cost leadership'.

ABM can show your real profit profile

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Activity based management (ABM) may seem a dated management tool, but it still has very real uses in identifying a business's true profitability, as Brian Plowman explains.

Unlocking overhead value

Much current thinking rightly advocates the finance director (FD) as a business partner, focusing on driving forward the strategic objectives of the business. However, while taking on this demanding role, the FD or financial controller will still need to keep a firm hand on the finances.

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