Seven Pointers to Successful Shared Services

IShared service organisations are failing to live up to expectations.  A recent Research Study by Alsbridge plc of nearly fifty global shared service organisations showed that SSCs are not realising their full potential.  In all the categories analysed (Process, Technology, Regulatory, Organisation and Regulatory) average scores ranged from 2.8 to 3.2 out of a maximum of 5 and even organisations that have been in operation for over five years failed to achieve maximum scores. One of the most alarming features is that only a handful of organisations could report that they had zero compliance issue and ensuring regulatory compliance was seen as an ongoing challenge for the SSCs.

So what are some of the key areas in which SSCs falling short? 

  • Lack of standardisation and steadfastness to truly transform processes which is impeding processing efficiency.
  • Failure to re-allocate resources.
  • Limitation of scope.  Many organisations still only include selected transactional processing activities in their scope.  For example, only a quarter of our research study respondents have their final statutory accounts produced by the SSC.
  • Business units opting out.
  • Limited investment in technology enablers to automate processes.
  • Simplistic charging mechanisms which tend to be based on a cost allocation calculated on the basis of a specific business unit characteristic (e.g. revenue).
  • Cumbersome SLAs that lack buy in from key stakeholders.
  • Ineffective governance structures.


So, how do you make shared services work?

1). If the benefits of shared services are to be fully realised, it is essential that the shared services part of the operation fits into the overall corporate operation in a seamless way and management focus is maintained.  Ownership by top management of the end to end process is vital and a senior management mandate is essential for ensuring that:

  • Processes are standardised,
  • Business units comply with policies and procedures,
  • Resources are re-allocated,
  • The SSC gets the investment required to automate and truly transform processes.

2). Create a governance structure that encourages open dialogue between the shared service and its customers at all levels; from day to day communications at the production level to strategic discussions at the senior management level.  This is essential for effective decision making and to ensure that issues are resolved rapidly.

3). Invest time in building the relation between the SSC and the retained organisation.  Personal relationships and dependencies are as important here as in any other part of the corporate structure and are key to smooth running and efficient operations.  So, managing the relationship and keeping it healthy is an ongoing requirement.  Recognise that this takes time and effort.  Give the structure of the retained organisation as much focus as you do the new shared service structure.  Get the right people in the right roles in the new organisation (a good Accounts Payable manager does not necessarily make a good Relationship manager!). 

4). Strive to Increase the scope of the SSC.  SSCs tend to start with repetitive high volume transactions but as confidence grows and the relationship improves they should move up the value chain …

S’inscrire, Cursus, Formation

Acteur reconnu dans les domaines de la gestion des risques financiers et de l’organisation de trésorerie, Forex Finance met à la disposition des Directions Financières des entreprises, collectivités et institutions financières une gamme complète de solutions à forte valeur ajoutée. C’est aussi un moyen d’arriver sur le marché du travail en ayant connaissance des tous derniers développements de la recherche académique donnant au master sa renommée professionnelle pour la technicité et les compétences de ses étudiants. Accéder à un aperçu instantané de ce dont les personnes parlent actuellement.

Les étudiants ont la possibilité de faire un doctorat en gestion ou en économie dans les laboratoires d’accueil de l’ Université Paris-Sud ( RITM ) ou de l’ Université d’Evry Val-d’Essonne ( EPEE ). Une sélection rigoureuse, des enseignements de très grande qualité, la possibilité de faire un stage lengthy, telles sont les clés du succès du Master 104 Finance.

Véritable bureau du DAF numérique, Yourcegid Finance Y2 couvre l’intégralité de la chaîne de valeur financière et fiscale. Conçue pour améliorer votre pilotage et votre functionality au quotidien, Yourcegid Finance Y2 accélère vos clôtures et la production de vos informations et indicateurs financiers.

C’est à lui de faire de la bonne finance qui ne consiste pas nécessairement à prendre de l’argent à tout le monde,les riches plus particulièrement. En incorporant des contenus Twitter dans votre website Web ou votre application, vous acceptez l’ Accord Développeur et la Politique Développeur de Twitter.

Nos données sont consultables en achat immédiat ou sur abonnement. ALLURE FINANCE est toujours classée « INCONTOURNABLE » par le magazine Décideurs dans la catégorie des meilleurs gestionnaires de patrimoine. The “Quickly Money” traders share their initial moves for the marketplace open.…

GAAP vs IFRS – Revenue Recognition

GAAP vs. IFRS Revenue Recognition

 

GAAP and IFRS are two very different forms of accounting. They have some aspects that are nearly identical, while others are completely different. One example of an aspect that sits more on the different end of the spectrum would be how each accounting method recognizes their revenue. They have some parts that work out the same, but overall, are very different with their rules and regulations on revenue recognition. GAAP and IFRS recognize their revenue in ways that are very different and cause economic transactions that seem similar to be quite different when revenue is recognized.

As we view each of these two different accounting systems, some people may ask why it matters how they relate. Well, that could be answered in a plethora of ways. Mainly, it is to see how distant the two methods are, and see if the world is any closer to harmonizing their accounting methods into one shared method of accounting (Daske). The end goal is mutually agreed to be the convergence of each method, or more so everyone converting to one of the two methods. Where one has the strict guidelines to cause a set track to follow, the other has broad rules but nothing specific for the given industries. These differences cause a lot of debate as to which is better for use, the IFRS system or the US GAAP system.

When looking at GAAP as opposed to IFRS, the biggest difference is the initial way that revenue is broken down into. For GAAP, revenue is either realized or realizable, and then earned.  Revenue under the rules of GAAP should not be recognized until an exchange transaction occurs (PWC). IFRS is broken down into four categories instead. These are sale of goods, rendering of services, others’ use of an entity’s assets, and construction contracts. These are set from two primary standards for revenue transactions (PWC). Overall, the breakdown of revenue in IFRS has broader categories than the GAAP system.

One of the major ways that GAAP and IFRS are different in their revenue recognition would be that GAAP uses a lot of industry specific guidance. GAAP, for example, requires vendor-specific objective evidence, or VSOE, of fair value to determine an estimation of the selling price (PWC). Along with this, IFRS does not have any requirement that can even be related to this regulation of GAAP (PWC). This lack of industry specific requirements shows how IFRS is a broader based system of accounting as opposed to GAAP. This allows for more leeway for the reporting of financial strength through what is considered as revenue.

IFRS has a standard 18 set principles that are applicable to each industry just like the one before. Not only does GAAP have industry specific rules and regulations as stated above, but they even allow exceptions for certain transactions. Along the same lines, they also request additional information from public companies, as stated by the SEC (Bank). This means that GAAP causes more work after …

Role of a Chartered Accountant in an organization

An accountant plays a pivotal role in an organization. It is not just during the tax season, accountants can be useful at any time of the year. A chartered accountant can help you solve various financial issues.

Becoming a Chartered Accountant is not an easy task.  They need to pass three qualifying examinations and should have 30 months of practical experience before they get their designation of a Chartered Accountant. Apart from high degree of knowledge, they must abide by a professional code of conduct. They must act ethically, maintain client confidentiality, and avoid situations involving a conflict of interest. They can help you and your business.

There are non-designated accountants who do not belong to a professional body. Business owners should not hire any such non-designated accountants. There are Chartered Accountants who provide tax planning and tax preparation services to their clients.  However, not every accountant is a tax expert. Tax experts have in-depth knowledge and expertise in the area of taxation. In Canada, The Canadian Institute of Chartered Accountants (CICA) has the most comprehensive tax training program, know as the Canadian In Depth Tax Course. Chartered accountants have the practical experience to be defined as tax experts.

Organizations should find out the type and years of tax experience Chartered Accountants have and check whether he/she has completed the CICA In-Depth Tax Course. You have to hire a CA who is a tax expert. In an organization, the finance department has to handle complicated issues that require expertise, experience and utmost precision. Handling such financial matters is not an easy task. A chartered accountant can help you figure out how to proceed. An experienced chartered accountant can handle your financial matters competently.

Chartered accountants provide a fixed fee to their clients or bill on hourly basis. Moreover, the value that you and your business derive from their services is far in excess of the fees that you pay them.…

Starting Part Time Computer Career From Home is the Way to Success

By © Arthur, The Part Time Job Home

With the low costs of computer and internet connections, it have become easier today for people to start a part time computer career from home.

The general attribute for people to start a computer career from home are:

 – fulfill their dream of financial independence
 – an extra income or back up income in the event of losing your full time job
 – have a regular job with a regular income from home after retirement
 – experience the joy and thrill of creating your own job opportunity
 – an insurance against any economics downturn when there are mass retrenchment

However, when you want to start your own part time computer career from home, don’t be under the misconception that it needs very little effort and time.  It is advisable that you should start by doing it on a part time basis while you still have a full time career. 

There are several great reasons for starting your computer career on a part time basis:

 – By doing it part time, you minimize your risk both in time and finance as your still have a full time income.
   (in fact, that is how I started my computer career from home).

 – As you still are earning a full time monthly income, it will give you the confidence and money to invest in your part time career.  You don’t have to worry about the payments of your monthly bills and can focus better in developing your part time career until it can earn you a SECOND source of full time income.

 – There is always a learning curve we need to experience.  Your first attempt of starting a part time career could end up in failure for various reasons despite your enthusiasm and determination to succeed.  In such an event, at least you could still fall back on your full time income.

 – With your full time career as a backup, you are not under tremendous pressure to perform in order to survive.  You still can live normally as you developed new skills, knowledge and you can grow your second source of income at your own pace.

 – You continue to enjoy the benefits of a full time career such as health insurance, annual leaves, bonus and other benefits that your company may have given you as an employee while you develop your part time career into a full time income.

Having listed the above benefits of not quitting your full time career while you developed your part time computer career from home, there are also some disadvantages that you should be aware:

 – At time, working on a full time and part time career together can be strenuous and you may experience burnout or depressions. This may have an impact on your life and full time career as you neglect your love ones, career or even both.

 – Your part time career may create problems for your full time boss or employer as …

AIMS (UK) offer Online MBA in Islamic Banking and Finance

Considering the growing demand of proficient professionals and experts for Islamic Finance Industry, Academy for International Modern Studies or AIMS launched an internationally accredited Online MBA Degree in Islamic Banking and Finance. The objective of this MBA program is to produce highly competent executives, who are well qualified and practiced, not only with the Islamic Banking and Finance subjects; but also other professional areas, required for the successful business administration and management. The MBA program comprise of 12 graduate courses and a Thesis in Islamic Finance. There are total 36 credit hours are awarded on the completion of this MBA program. This degree program is ideal for (i) Professionals seeking career enhancement, (ii) Bankers seeking career growth, and (iii) Students looking for a bright future in fastest growing financial sector.

This Online MBA in Islamic Banking and Finance Degree is affiliated with Pebble Hills University, which is fully accredited by the International Commission for Higher Education. This institution provides professional quality control mechanism for Colleges and Universities’ standards. Their Accreditation gives a public record of your learning that will be widely accepted by employers, professional associations, by other colleges and universities, and recognized internationally. AIMS and Pebble Hills University has International Offices in many countries, including: United States of America, Canada, United Kingdom, South Africa, Kuwait, Lebanon, Qatar, Saudi Arabia, Syria, United Arab Emirates, Hong Kong, India, Malaysia, China, Singapore, Egypt, Pakistan, Argentina, Iran, Jordan, Bangladesh, Nepal, Jamaica, Ghana, Kenya, Malawi, Mauritius, Morocco and Nigeria.

Muslims worldwide are directed to avoid certain types of banking products and investments due to the involvement of Riba/Interest and they are more interested in dealing with Islamic Banks for Riba-free banking products. The demands of Islamic banking and Islamic insurance products have been increased in past few years and these products and services are being introduced by well-known financial institutions. In addition to that, large numbers of new Islamic financial institutions are being introduced internationally, who requires qualified human resources for the proper execution of Islamic Financial system, within their organizations.

Academy for International Modern Studies (AIMS) is an Islamic Banking and Finance institution, based in Chatham, United Kingdom. AIMS’ main objective is to facilitate individuals to become expert Islamic finance professionals and companies to establish better Islamic financial system. AIMS has made a significant contribution in Islamic Finance Industry. Over the years it has maintained a purposeful mission of promoting industry professionalism and best practices in Islamic Banking and Finance industry through research, consultancy, product development, corporate trainings, seminars, workshops and publications. AIMS also offers several online certifications in Islamic Finance, Islamic Banking and Islamic Insurance.

Educational programs at AIMS are designed and facilitated by renowned Islamic Banking and Insurance Sharia Advisors and Product Development Managers. These scholars are working in renowned Islamic Financial Institutions. Study material is updated on regular basis to make sure that the graduates are well trained in implementing and managing Islamic Financial products and services. The updated study material prepares graduates to work with the most upto date …

Concern: Thin Round Steel Pipes In China Application Development Trends

As the national economy development and people’s living standard, thin-walled round pipe and Stainless Steel Pipe Pieces of the domestic water supply pipeline system has become the new trend of development. Thin-walled stainless steel round bar pipe

domestic 20th century until the late 90’s came the new Pipe , Because of its safety and health, high strength, good corrosion resistance, durable, long life, maintenance-free, beautiful and so on, the current strong momentum of development of stainless steel round bar pipe, have been widely used in Building Water and Drinking Water pipes.

2001 8 24 Ministry of Construction released CJ/T151 thin-walled stainless steel pipes and stainless steel compression type CJ/T152 Pipe Industry standards.

2001 National Science and Technology of China Technology Market Management Promotion Center has released application on the promotion of “high-diameter ratio of high-precision stainless steel wall, high pressure water pipes and related fittings and special technologies” to inform, thin-walled stainless steel tube to give full recognition that the popularization and application of technology and products will raising the grade of modern architecture, to improve and protect the water quality is of great significance.

2003 1 2 Ministry of Construction released the “National civil Project Design measures “in the notice, that” preference should wall stainless steel pipe steel pipe. ”

2003 7 10 from country of Quality Supervision, Inspection and Quarantine issued a GB/T19228.1, GB/T19228.2, GB/T19228.3 series of standards, promotion of compression-type stainless steel pipeline system.

2003 9 25 China Engineering Construction Standardization Association released CECS153-2003 thin-wall stainless steel water supply pipeline construction engineering.

Beijing Water Corporation [2003] No. 194 Document: prohibit the use of galvanized pipes, to promote the use of stainless steel pipe, copper pipe was excluded.

2004 1 dated after 1 new building materials through water audits, non-acceptance does not meet the requirements through the water.

2004 7 12 Ministry of Construction approved by the Architectural Design and Research Institute of Tongji editor of the “building water supply metal pipe installation?? Thin-walled stainless steel tube” (04S407-2) for the National Building Standard Design, since August 2004 15, to implement.

Some aluminum products export tariffs will be reduced to zero import tariffs on aluminum

Learned yesterday from the Ministry of Finance, approved by the State Council, from August 1, 2007 onwards, to form the provisional tax rate will be aluminum import tariff from 5% to 0%; on non-alloy aluminum section, Export tariff levy provisional pole, provisional tax rate is 15%.

Ministry of Finance made it clear that a move to further restrict the high energy consumption, high pollution and resource exports, and promote Energy Consumption, encourage imports of raw materials. One analyst pointed out that the abolition of import duty on electrolytic aluminum line with government suppression of domestic aluminum production capacity expansion intentions.

For the policy issued on the impact of electrolytic aluminum industry, the insiders believe that this policy change has little effect on the aluminum market because of the domestic aluminum prices have been lower than the international market. Currently, LME (London Metal Exchange) aluminum …

10 Richest Canadian Billionaires – Find Out How They Got So Rich

Canadian Billionaires – Who are the Richest People in Canada?

Almost all annual listings of the world’s richest people mention the same names year after year. On the top of these lists you will find Bill Gates and Warren Buffet. Although the lists are generally accurate, you will often observe an American-centric pattern, wherein entrepreneurial skills and wealth of the country’s northern neighbor are often overlooked. Canada has its share of top richest people and even if recession has affected the Billionaire Balance Sheets of 2008 to 2009, the top richest people in the world have $2 trillion in asset valuation. Forbes, the trusted magazine all around the globe when it comes to entrepreneurial stories and news, came up with the list of 10 richest Canadians for 2009. The list includes a brief background on how these top 10 richest Canadians became very wealthy and successful. All figures below are in US dollars, unless otherwise stated.

1. David Thomson and family – media conglomerate – $13 billion

David Thomson is the reputed grandson of Roy Thomson who is the founder of the Thomson Corporation. The company started out as a book publishing enterprise. Today, it continues to be one of the premier textbook providers for higher education in the world. The company grew even more as it got involved in information technology and electronic media. It dominates the healthcare, science, financial services, and the law sectors. It acquired Reuters News last 2007 and is currently known as the Thomson Reuters.

2. Galen Weston and family – retail – $5 billion

This family owns a couple of giant retail establishments in the UK and Canada, which include Loblaws, Selfridges, and the Holt Renfrew. Galen Weston is the descendant of George Weston, who founded the George Weston Bakeries Ltd. as a food business. Weston’s Loblaws is the largest retailer in Canada, with net sales amounting to more than $30 billion Canadian dollars in 2008.

3. James, Arthur, and Jack Irving – oil and other natural resources – $3.9 billion

The Irving brothers are the sons of the Canadian oil king billionaire K.C. Irving, who passed away in 1992. The three brothers took over the family’s natural resource holdings and divided these based on their personal responsibilities and expertise. Arthur Irving manages the Irving Oil and its various retail sites in Canada, plus transportation and refineries. Jack Irving, on the other hand, handles the engineering, steel fabricating, and construction entities of the company. James Irving is the one handling the parent company, which focuses on forestry, shipbuilding, and other types of transportation.

4. Paul Desmarais, Sr. – transportation and finance – $2.6 billion

Paul started out as the manager of their family business, the Desmarais’s bus service. He began to acquire other lines and created a holding enterprise that eventually branched out to other fields such as life insurance and publishing. He always made sure to personally oversee the financial aspect of his businesses. As of today, Paul’s Power Corporation of Canada …

Cloud Computing:Elastic Stream Computing For Cloud

CLOUD COMPUTING

 Esc: Towards an Elastic Stream Computing Platform for

the Cloud

 ABSTRACT

Today, most tools for processing big data are batch-oriented. However, many scenarios require continuous, online processing of data streams and events. We present ESC, a new stream computing engine. It is designed for computations with real-time demands, such as online data mining. It offers a simple programming model in which programs are specified by directed acyclic graphs (DAGs). The DAG defines the data flow of a program, vertices represent operations applied to the data. The data which are streaming through the graph are expressed as key/value pairs. ESC allows programmers to focus on the problem at hand and deals with distribution and fault tolerance. Furthermore, it is able to adapt to changing computational demands. In the cloud, ESC can dynamically attach and release machines to adjust the computational capacities to the current needs. This is crucial for stream computing since the amount of data fed into the system is not under the platform’s control. We substantiate the concepts we propose in this paper with an evaluation based on a high frequency trading scenario.

CONTENTS

1.         INTRODUCTION                                                                           

       2.         RELATED WORK                                                                                                   

     3.         SCENARIO                                                                                      

4.         STREAM COMPUTING IN ESC                                                

             5.         FAILOVER AND ADAPTABILITY                                                            

      6.        IMPLEMENTATION                                                                          

       7.         EVALUATION                                                                                    

         8.         CONCLUSIONS AND FUTURE WORK                                               

          9.         REFERENCES                                                                                     

  1. 1.      INTRODUCTION

 “Cloud Computing” is an ongoing trend in the IT world. It has the potential to transform the way software is used and hardware is designed and purchased. New services can be deployed rapidly without bearing massive initial investments and time delays accompanied by setting up the necessary infrastructure. As pointed out by Armbrust et al., the nearly impossible task of predicting future workload and hardware requirements has become obsolete. Moreover, without a self-maintained infrastructure one can avoid overprovisioning, which would be required to cope with peaks but is a waste of resources in off-peaks.

ESC (pronounced “Escape”) is a distributed stream processing platform written in Erlang.ESC employs a similar programming model as MapReduce in that it applies operations to key/value pairs. In contrast to MapReduce, which is tailored to batch-oriented processing of large data sets, ESC is designed to deal with distributed online processing of event streams fed into the system at unpredictable rates. It targets data processing tasks with soft real-time demands such as analysis of sensor network data, online web mining, or algorithmic trading. A directed acyclic graph defines the data flow of a program in ESC; its vertices specify the operations applied to the key/value pairs called   events. The usage of DAGs for stream processing is very expressive, much more expressive than an online version of MapReduce. Programmers can focus on the task at hand while ESC contributes concurrency, distribution, and fault tolerance. For large batch-oriented tasks, cloud computing can get results as quickly as the software scales, because using 1,000 servers for one hour causes the same costs as one server for 1,000 hours. This is different for stream processing where we have no control over the arrival rate of …

Surya Consultants is the best Recruitment relationship in India

Everybody dream of a good job after his or her school or college education. Lots of online job portals and job consultancies are there in india to provide the best placement services. If you are a candidate looking for a good job or if you are looking for a good support in getting a job then go for a well established consultants.Recruitment consultants Before selecting your surya consultants you need to check their experience. Checkout how long they have been in this field and their reputation.

Check their placement records and also check how many candidates got job through them and whether the persons who got the job through that consultants are happy. Is the consultant giving the right job to the right candidate? These are the things you should be aware of while selecting your consultant. Check their tie ups, that is with how many companies they got tie up and the companies they are in tie up is best company or not.

Some consultancies take the candidates only for a particular section like finance or accounts etc but others take all types of degrees. Most of the consultancies charge for registration and the registration period will also be specified. That is they will give opportunities for 3 months or 6 months depending upon the fee and their company procedures. The other thing is that there may be some hidden conditions like paying the consultant a fixed amount based on your salary, once we get job through them.

Be aware about the consultancy and their conditions before registering with them, whether it is online or direct.

Recruitment Consultant is the perfect Job for a graduate coming out of university to find themselves faced with a highly competitive job market, armed with a degree not specifically targeted to any job in the real world.

I had a 2nd Class Degree in Philosophy when I graduated. There wasn’t a single job in the paper asking for that! Nevertheless there are numerous ways to get a job in recruitment and earn the big bucks.

The standard procedure is to post your CV on a job board like Monster and then apply to the recruiter jobs posted there in. This method can be effective in generating interest. Depending on your location barriers to entry in the industry are sometimes very low, however competition can be high.

Recruitment Consultant is the perfect Job for a graduate coming out of university to find themselves faced with a highly competitive job market, armed with a degree not specifically targeted to any job in the real world.

I had a 2nd Class Degree in Philosophy when I graduated. There wasn’t a single job in the paper asking for that! Nevertheless there are numerous ways to get a job in recruitment and earn the big bucks.

The standard procedure is to post your CV on a job board like Monster and then apply to the recruiter jobs posted there in. This method can be effective in generating interest. …