Archive for February, 2008

Ducks and Eagle - From the internet

Thursday, February 28th, 2008
Ducks and Eagle No one can make you serve customers well. That’s because great service is a choice.

Years ago, Harvey Mackay, told a wonderful story about a cab driver that proved this point. He was waiting in line for a ride at the airport. When a cab pulled up, the first thing Harvey noticed was that the taxi was polished to a bright shine. Smartly dressed in a white shirt, black tie, and freshly pressed black slacks, the cab driver jumped out and rounded the car to open the back passenger door for Harvey. He handed him a laminated card and said:

“I’m Wally, your driver. While I’m loading your bags in the trunk I’d like you to read my mission statement.”

Taken aback, Harvey read the card. It said:

Wally’s Mission Statement:

To get my customers to their destination in the quickest, safest and cheapest way possible in a friendly environment. This blew Harvey away. Especially when he noticed that the inside of the cab matched the outside. Spotlessly clean! As he slid behind the wheel, Wally said, “Would you like a cup of coffee? I have a thermos of regular and one of decaf.”

Harvey said jokingly, “No, I’d prefer a soft drink.”

Wally smiled and said, “No problem. I have a cooler up front with regular and Diet Coke, water and orange juice.”

Almost stuttering, Harvey said, “I’ll take a Diet Coke.”

Handing him his drink, Wally said, “If you’d like something to read, I have The Wall Street Journal, Time, Sports Illustrated and USA Today.”

As they were pulling away, Wally handed him another laminated card. “These are the stations I get and the music they play, if you’d like to listen to the radio.”

And as if that weren’t enough, Wally told Harvey that he had the air conditioning on and asked if the temperature was comfortable for him. Then he advised Harvey of the best route to his destination for that time of day. He also let him know that he’d be happy to chat and tell him about some of the sights or, if Harvey preferred, to leave him with his own thoughts.

“Tell me, Wally,” Harvey asked the driver, “have you always served customers like this?”

Wally smiled into the rear view mirror. “No, not always. In fact, it’s only been in the last two years. My first five years driving, I spent most of my time complaining like all the rest of the cabbies do.

Then I heard the personal growth guru, Wayne Dyer, on the radio one day. He had just written a book called You’ll See It When You Believe It. Dyer said that if you get up in the morning expecting to have a bad day, you’ll rarely disappoint yourself.

36996 Hunting Lodge Ornaments

He said, `Stop complaining! Differentiate yourself from your competition. Don’t be a duck. Be an eagle. Ducks quack and complain. An Eagle soars above the crowd.’”

“That hit me right between the eyes,” said Wally. “Dyer was really talking about me. I was always quacking and complaining, so I decided to change my attitude and become an eagle.
I looked around at the other cabs and their drivers. The cabs were dirty, the drivers were unfriendly, and the customers were unhappy.
So I decided to make some changes. I put in a few at a time. When my customers responded well, I did more.”

“I take it that has paid off for you,” Harvey said.

“It sure has,” Wally replied. “My first year as an eagle, I doubled my income from the previous year. This year I’ll probably quadruple it.. You were lucky to get me today. I don’t sit at cabstands anymore. My customers call me for appointments on my cell phone or leave a message on my answering machine. If I can’t pick them up myself, I get a reliable cabbie friend to do it and I take a piece of the action.”

Wally was phenomenal. He was running a limo service out of a Yellow Cab. Harvey probably told that story to more than fifty cab drivers over the years, and only two took the idea and ran with it.
Whenever Harvey went to their cities, he would give them a call. The rest of the drivers quacked like ducks and told him all the reasons they couldn’t do any of what he was suggesting.

Wally the Cab Driver made a different choice. He decided to stop quacking like ducks and start soaring like an eagle. What is your choice?

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10 ways to Study - From ACCA Website

Wednesday, February 27th, 2008
Learning Centre

With the exams approaching, adopting an effective study technique becomes one of the most important ways to achieve success. We asked you for your top study tips and here are some of the best.

1 Make study a habit

Even at the best of times, studying and working can be tough. But, in the run up to exams, the need to study as much as possible can add to the pressure. Savin Mao, a Part 2 Professional Scheme student from Cambodia, advises students to make the best use of their time. ‘At the beginning of your studies, discipline yourself and produce a clear schedule of the extra study you need to do for your exams. After a couple of weeks, the extra hours of work will become a habit. Once it becomes a habit, it will feel normal to read or practise for your exams, and if you fail to study for even one day you will feel you are missing something.’

2 Use the resources at hand

Mohammad Shoaib, a Part 2 Professional Scheme student from Pakistan, recommends using the resources available on the ACCA website and in student accountant. ‘Analyse the exam papers from the past five years or so. Study the examiners’ feedback published in student accountant too. This is important because it enables students to find out what is expected in future exams.’ Examiners’ feedback is published twice a year in the April and October issues of student accountant. It is also available on the ACCA website, together with past exam papers and answers, and technical articles. ‘The more you analyse the more you benefit,’ concludes Mohammad.

3 Working together

Group learning or studying with a friend can be a good way to reinforce what you know, and find out what you don’t know. Donamie Providence, a CAT passed finalist and Part 2 Professional Scheme student from St Vincent recommends studying with others so that you can look at topics from different angles. ‘Working in a small group of three or four allows you to discuss topics and get ideas from one another,’ she says. ‘In addition, talking about your daily work enables you to share your skills and knowledge, and this could help you apply your experience to the exam questions.’

4 Ask if you don’t understand

If you attend lectures, it is important to know that you understand all you have been taught. Choong Woon Wei, a Part 2 Professional Scheme student from Malaysia, advises students to make sure they have understood everything and not to be afraid to ask tutors and lecturers questions. ‘It is vital to have complete comprehension of the subject, so that your mistakes or misunderstandings are not compounded as the course continues,’ says Choong Woon Wei. ‘The best way to check your understanding is to see if you can teach the subject to a friend, and explain every aspect of it effectively and accurately. If you can, then you should be able to convey your knowledge to the examiner too.’

5 Practice, practice, practice


Jane Kamoche, a Part 2 Professional Scheme student from Kenya, believes in the old adage ‘practice makes perfect’. ‘Although we have heard this said many times, it really works,’ says Jane. Her advice is to try to do three or four practice questions after every topic studied. ‘By doing as many revision papers and questions as you can, what you have learned will stay in your head.’

6 PQRST

CAT student Rohail Amjad from Pakistan uses the PQRST method for his study – P = preview, Q = question, R = revise, S = summary, T = test. ‘I first preview the topic to find out what I need to know, then I note down any queries or questions. Nearer to the exams, I revise the topic and make short notes in summary form. Testing myself on these helps me to see where I am with the subject and what knowledge gaps I have.’

7 Look after yourself


It is well documented that your brain works best when you eat healthily and sleep well – and if you don’t get enough sleep, you may lose a lot of cognitive power. Caroline Tromans, a Part 3 Professional Scheme student from the UK, believes that getting your body into the best possible shape can give you the edge when it comes to your studies. ‘Don’t forget to eat, exercise, rest and sleep properly. If you are tired, hungry and sluggish you will not perform at your best.’

8 Plan ahead

Dorothy Wong Sio Kuan, a Part 2 Professional Scheme student from Macau, promotes planning as the way to achieve success. ‘Plan a weekly target, then break this into daily targets. Try to meet your daily targets, and if you can’t, make up for it within the week,’ advises Dorothy. ‘Planning can help you decide how many subjects you can take in a particular session. Detailed scheduling may take you some time but, according to the cost–benefit principle, this is time worth spending if you can monitor your progress step-by-step on the way to becoming a successful finalist.’

9 Read the syllabus

Stephen Coates, a Part 2 Professional Scheme student from the UK, recommends reading the Syllabus. ‘You may think this is a waste of time when you should be reading textbooks but it could save you a lot of effort in the long run. When revising, tick off the subjects in the Syllabus as you go along, to make sure that you have covered everything.’

10 Start early

Start your studies early advises Rhosheda Benjamin, a CAT student from Antigua and Barbuda. Rhosheda doesn’t wait for her results before she starts to study for her next exams. ‘Give yourself at least two weeks to relax after your exams are over, then start studying for the next session. Read every chapter in your textbook, and at the end of each chapter do past questions to familiarise yourself with the exam requirements as they relate to the chapter. By doing this a few nights a week, you will be able to revise as you go through the textbook. Then, about a month or so before the exam, concentrate on practising past questions, referring to the textbook only when you are stuck.’

Celebrity Accountant - Mr. Praveen Kadle

Saturday, February 23rd, 2008


Yesterday I was browsing Management Accountants on Spock to know whether there any celebrity accountant in the list. I found Mr. Praveen Kadle, Managing Director of Tata Capital Ltd, a newly formed company of Tata Group.

Tata Capital, undertakes a host of financial activities like capital market services, merchant banking, housing finance, private equity, and vehicle and retail finance. That covers virtually everything in the financial domain of the Tatas - except Tata AIG Insurance, Tata Asset Management Co and Tata Investment Corporation.

Mr. Praveen Kadle, 48, as on 12-Dec-07 had following

Currently a director of Concorde Motors Limited, Sheba Properties Limited, Tata Cummins Limited, Tata Holset Limited, Tata Motors Limited, Tata Services Limited, Tata Technologies Limited and Telco Construction Equipment Co. Ltd. In the past five years, he also has been a director of, Concorde Motors (India) Limited, HV Axles Limited, HV Transmissions Limited, TAL Manufacturing Solutions Limited (formerly Telco Automation Limited), Tata Finance Limited, Tata Share Registry Limited and Telco Dadajee Dhackjee Limited.

Education: Bachelors of Commerce, Cost Accountant, Chartered Accountant and Company Secretary.

Best CFO of the Year 2004 awarded by IMA for excellence in Cost Optimisation.
Best CFO of the Year 2005 awarded by Business Today

I met Mr. Praveen Kadle once when the Top Management of the Tata Motors had come on the Go-Live of SAP 4.6C implementation in year 2003 at Pune. He congratulated everyone involved in the implementation and business for success of the project.

Some of my colleagues had not seen Mr. Kadle before, so I asked few of them to identify who is Mr. Kadle. Most of them pointed to the tall guy on the podium. They were surprised when Mr. Kadle spoke, only to find out he is just over 5′ 2″ feet.

Height does not matter…. it is the deeds.

Regards,

Santosh Puthran

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The other P in CPD

Friday, February 22nd, 2008
CPD in February? Well, why not? The 2007 declarations are out of the way. You are on the home stretch deadline-wise. It might be time to start reminding yourself of your tentative CPD plans for the year. But have you asked yourself recently, what exactly is it? CPD, that is. Take the DTI’s description: ‘CPD is defined as the holistic commitment to structured skills enhancement and personal or professional competence’.

Did you know that? CPD encompasses personal development too. Ah, but we’re accountants, we have our own professional definition and guidance, I hear you retort. But guess what? There are two Ps in our CPD too. Anything from negotiation skills and personal effectiveness to learning Spanish could be classed as CPD. OK I may be teaching grandma to suck eggs here but I’ll wager that there are quite a few of us still stuck in ‘technical’ CPD mode. So let me explain.

Read full article of Carol McLachlan


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Regards,


Santosh Puthran

Talking numbers: speaking their language?

Thursday, February 21st, 2008

The gift for interpreting numbers is an essential skill for any FD and particularly for aspiring CEOs. Finance directors are rightly admired for their technical skills and ability to decipher the mystery of the P&L, the erosion of the gross and net margins and the effects of tax charges and currency fluctuations on the bottom line. But the true value of all this is only unlocked if softer skills are also mastered.

The finance team is often criticised for only speaking to itself and its peers. The effort involved in explaining NPV, liquidity ratios and the need for gearing to the sales and marketing team doesn’t always seem like a good use of time. But while not everyone is fluent in the language of finance, communication is a key skill that FDs need to master.

Read more - Diana Stoltman article on Whatapc

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Regards,

Santosh Puthran

Talking numbers: speaking their language

Thursday, February 21st, 2008

The gift for interpreting numbers is an essential skill for any FD and particularly for aspiring CEOs. Finance directors are rightly admired for their technical skills and ability to decipher the mystery of the P&L, the erosion of the gross and net margins and the effects of tax charges and currency fluctuations on the bottom line. But the true value of all this is only unlocked if softer skills are also mastered.

The finance team is often criticised for only speaking to itself and its peers. The effort involved in explaining NPV, liquidity ratios and the need for gearing to the sales and marketing team doesn’t always seem like a good use of time. But while not everyone is fluent in the language of finance, communication is a key skill that FDs need to master.

Read more - Diana Stoltman article on Whatapc

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Regards,

Santosh Puthran

The Forrester Wave™: SAP Implementation Providers, Q4 2007

Wednesday, February 20th, 2008
Forrester evaluated the leading 16 SAP implementation providers across 108 criteria and found that Accenture and IBM have established leadership positions in this market thanks to the breadth, depth, maturity, and global nature of their SAP implementation practices.

BearingPoint, Capgemini, CSC, Deloitte, Infosys, Satyam, and Wipro also make it into the Leaders category due to their fine SAP implementation capabilities. TCS comes in just on the cusp of the Leaders category as their practice continues to flourish and they increase their focus on implementation projects. Cognizant and HCL are smack in the middle of the Strong Performers category, both having newer, slightly smaller, but extremely credible implementation practices.

Neoris and Softtek, two providers that both use Latin America as their primary low-cost delivery location, are newer to the SAP arena and smaller, yet also make it into the Strong Performer category due to their robust and growing SAP capabilities.

Intelligroup, also a Strong Performer, though quite small, is the only real SAP specialist provider in this group. Finally, Fujitsu, the low scorer in the Strong Performer category, has excellent SAP skills that are primarily attributed to its recent acquisition of specialist SAP provider Rapidigm. To find the best SAP services partner, Forrester clients should customize the Forrester Wave™ tool to reflect their individual needs and preferences.

Source: Forrester’s Website

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Regards,

Santosh Puthran

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100 Most Influential People in Business Ethics (2007)

Monday, February 18th, 2008

These days, sustainability and responsibility are no small matter. However, ethical action - whether performed by large corporations or small, local non-profits - is not something that just happens; it’s brought on by inspired individuals. In honor of the approaching New Year, we decided to bring together the forerunners of the business ethics world from the past year, wrapped together in a tidy 1 to 100 ranking.

Rank 54 Indra K. Nooyi Business Leadership - Chairman & CEO, PepsiCo

Read more on Ethisphere

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Regards,

Santosh Puthran

Ernst & Young applauds the success of the IASB

Saturday, February 16th, 2008
The FINANCIAL — London, The movement towards International Financial Reporting Standards (IFRS) as the leading financial reporting framework for the global capital markets has gathered pace faster than most people expected, according to Ernst & Young.

Dr. Allister Wilson of Ernst & Young says the remarkable success of the adoption of IFRS in 2005 across Europe and in other countries around the world is due to a number of factors. In particular he cites the courage, vision, and commitment shown not only by the members of the International Accounting Standards Board (IASB), but also by national governments, securities’ regulators, corporations, and the auditing profession.

Read more on FinChannel

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Regards,

Santosh Puthran

ACCA TV

Friday, February 15th, 2008

ACCA’s exclusive online channel for live and archived video presentations and podcasts. Click here to know more

ACCA - The world’s largest and fastest growing professional accounting body.

Regards,

Santosh Puthran