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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.

AI is not magic

Artificial intelligence (AI) and automation make the seemingly impossible possible. They magically bring machines to life – driving cars, trading stocks, teaching children or providing healthcare. In Prediction Machines, Avi Goldfarb and two fellow economists debunk this magical myth and recast the rise of AI as nothing more than a drop in the cost of prediction.

Office efficiency gains

A quick look around your office will show you that the workplace is changing. Demand for more flexible ways of working has seen a boom in approaches such as shared spaces and co-working. While these all have an effect on the way we work, what will change for the finance function? In the first in a new series of features on the future world of work, Alison Coleman examines some of the major trends shaping today’s organisations.

Smart cuts

Managing and cutting costs (including staff costs) remain right at the top of management’s agenda. Andrew Wileman describes how to do this intelligently.

Internal audit - Members opinions

In the February issue of Finance & Management, we published an article by Robin Pritchard, focusing 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. Here two veterans of internal audit give their responses.

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.

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'.

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