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The risk of exposure associated with failure to comply or with inadequate unclaimed property compliance has never been greater. The current economic situation has incented state governments to seek additional revenues through increasing the number and complexity of state unclaimed property audits. Even though states are reducing their government workforces, they are increasing the number of audits by outsourcing audits to third party contractors. The result is the increased risk that a noncompliant business will be exposed and incurs significant liability plus penalties and interest.
Due to the increased risk of audit, many businesses are considering their potential exposure. (An initial compliance risk checklist is provided below as a measure to stimulate discussion regarding this risk within your business.)
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The hidden impact of multicurrency accounting data, systems and processes on foreign currency exposure and risk.
This whitepaper focuses on the problems faced by multinational companies today who struggle with multicurrency accounting issues that undermine their ability to quantify their foreign exchange exposure and manage FX risk. Today, for most U.S. companies, the impact of this problem has been mitigated by the weakness in the U.S. dollar relative to foreign currencies. With volatility at record highs, sudden shifts in this trend will create economic and compliance problems for companies that have not accurately identified and quantified their FX exposure, and subsequently managed their FX risks in a timely manner.
Learn more about the most common sources of multicurrency accounting problems, symptoms of these problems and proposed proactive steps that companies should take to better insulate themselves from foreign currency volatility.
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Virtually all businesses running enterprise resource planning (ERP) solutions - like SAP, Oracle, JDE, Microsoft Dynamics, PeopleSoft - want to move to electronic delivery of customer invoices. The advantages of electronic invoicing are clear: It's faster, less expensive and more reliable than manual invoicing, and it takes the inefficiency of paper out of the process.
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When asked about why they were investing in CCM, respondents to AMR's survey focused on cost reduction, fraud reduction, process improvement and policy enforcement. "System configuration, security and access privileges, and the monitoring of business transaction/process (largely financial activities) are moving up the list in terms of priority," the report says. Read more by downloading the full report.
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For companies that accept credit and debit card payments, a breach of credit card and confidential customer data is amoung the most serious risks a business faces today. Failure to protect data leads to financial costs, customer defections and loss of reputation - all of which impact the bottom line and public perception.
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For businesses that have put a freeze on spending, the idea of taking action to reduce energy consumption may seem impossible. What many are unaware of are all the options for energy conservation that cost nothing, or very little. There are many opportunities for no cost, low cost, energy conservation measures (ECMs) that are effective in cutting consumption and adding to a business’ bottom line. All that is required to put these ECMs into action is close observation of facility operations, and small changes to daily operations.
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For businesses that have put a freeze on spending, the idea of taking action to reduce energy consumption may seem impossible. What many are unaware of are all the options for energy conservation that cost nothing, or very little. There are many opportunities for no cost, low cost, energy conservation measures (ECMs) that are effective in cutting consumption and adding to a business’ bottom line. All that is required to put these ECMs into action is close observation of facility operations, and small changes to daily operations.
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Eight things you can do right now....
CNBC
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CFOs Dispute End of Recession Call 3:55 The nation's CFOs do not agree with most economists that the recession is over, according to a new survey. Jim Kaitz, president and CEO of the Association for Financial Professionals, shares his insight. | October 6, 2009 |
December 16, 2009
