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Showing posts from November, 2008

Performance Prism - A Performance Measurement Approach

As the companies grow in the size, the number of stakeholders increase. Companies have to cater to the interests of its stakeholders such as local communities, vendors, employees, legislators so on and so forth. Performance prism is an ideal tool to analyse.



Performance Prism is one of the development in management accounting put forth by Cranfield University. The theory is performance of an organisation depends on how effectively it meets the needs and requirements of all its stakeholders.

The five facets of the Performance Prism:

1. Stakeholder Satisfaction
2. Stakeholder Contribution
3. Strategies
4. Processes
5. Capabilities

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Approach: Starting with Stakeholders, not with Strategy. Five key questions for measurement design:
Stakeholder Satisfaction – who are the key stakeholders and what do they want and need?Strategies – what strategies do we have to put in place to satisfy the wants and needs of these key stakeholders?Processes – what critical …

ICAI signs MOU with ICAEW UK

The ICAEW has Thursday 20 November signed a memorandum of understanding (MoU) with the Institute of Chartered Accountants in India (ICAI) which will establish closer working relations between the two bodies as well as new recognition arrangements for members.


CA. Ved Jain, President ICAI in his address remarked “This is a historic and a momentous occasion for the members of the ICAI and ICAEW. These are two largest accounting bodies with membership of over 150,000 & 130,000 respectively. The two Institutes have been following highest standards of professional education, training, technical & ethical standards. At this point of time, seeing the need of the hour, we have to make our profession recognized globally. The MoU entails coming together of two largest Accounting bodies working in tandem with each other to provide a synergy. This agreement would facilitate mobility of members across the borders and further strengthen the ties between India and United Kingdom (U.K.). Our m…

Activity Based Costing/Management awareness initiative

Rajendra Patil, Pune, India of AppsConsultingProfile: A technocrat with 17 years of proven success in ERP Implementation, Business Analysis, Consultancy Assignments in Strategic Cost Management, Profitability Analytics, Performance Management and Business Process Management in conjunction with the enterprise wide BI solutions.
Specialist in Training and Implementing Activity Based Management concept in Manufacturing, Telecom, Banking, Insurance and Retail verticals. Over 17 years on overall experience including 7 years in the current area.

Providing support to the KPO organizations to conceptualize outsourcing services in Activity Based Management. Providing training to build capacity of the team and running the services. Rajendra Patil is conducting sessions on Activity Based Costing/Management concepts and a product demo tour. This session takes around two hours.
The highlight would be
What is ABM?Benefits and Uses of ABMTerminologyBuilding an ABC ModelThe Power of ABMReporting ABC Infor…

ICWAI promotes Institute of Management Accountants of OMAN

NEW DELHI, 18 NOV 2008. The Institute of Cost and Works Accountants of India in its drive to promote and propagate the profession of cost and management accountancy has now taken the initiative to promote an Institute of Cost and Management Accountants in Oman.
To give effect to this effort, the ICWAI has entered into a Memorandum of Understanding with the Omar Zawawi Establishment LLC (OMZEST), one of the premier groups in the Sultanate, on last Saturday in the presence of Shri Jitesh Khosla, Joint Secretary, Ministry of Corporate Affairs, Govt. of India, Shri B. B. Goyal, Adviser (Cost), Ministry of Corporate Affairs, Shri Indrajith Fernando, Adviser - South Asian Federati…

Talkonaut VOIP on mobile

Last year, I wrote about use of Instant Messaging at the workplace and VOIP phones as to how they bring down the costs of communication. The popularity of the technology is more to do with comfort than anything else.

I have stopped fancying expensive mobile phones rather I look for how best I can use for communication and information while I am mobile. Yesterday, I was searching for an application which should marry VOIP and IM on my mobile, I found it Talkonaut™.


Talkonaut™ is mobile free calling, VoIP enabled, Google Talk™ like application for your mobile phone. Talkonaut is available for three different mobile platforms: Symbian S60, Windows Mobile 5/6 and J2ME with MIDP-2.0. Talkonaut works on more than 300 different mobile handsets.
Talkonaut™ supports Jabber, Google Talk, ICQ, MSN, AIM and Yahoo networks both for chatting and voice calling.

The outstanding feature of Talkonaut is VoIP over GPRS capability which allows you to make free long distance and overseas…

Limited Liability Partnership - What it is ?

With the growth of the Indian economy, the role played by its entrepreneurs as well as its technical and professional manpower has been acknowledged internationally. The traditional partnership of entrepreneurship, knowledge and risk capital combine to provide a further impetus to India's economic growth. However, a need has been felt for a new corporate form that would provide an alternative to this effect with unlimited personal liability on the other, in order to enable professional expertise and entrepreneurial initiative to combine, organize and operate in flexible, innovative and efficient manner.

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The Ministry of Company Affairs has notified the concept paper on Limited Liability Partnership (LLP) inviting public c…

Task Force Emphasises importance of Corporate Social Responsibility

3rd Meeting of Indo-UK Task Force on Corporate Governance Conclude

A two-day meeting of the Indo-UK Task Force on Corporate Governance concluded here today. The Task Force was constituted in 2006 to promote bilateral collaboration between India and UK in areas of mutual interest in corporate matters, including corporate regulation and governance. UK was represented at this 3rd meeting of the Task Force by eight- member British delegation, led by Mr Geoffrey Stanley Dart, Director, Corporate Law and Governance, Department for Business, Enterprise and Regulatory Reform(BERR), Government of UK; while the Indian side was led by Shri Anurag Goel, Secretary, Ministry of Corporate Affairs, Government of India.

The discussions held by the Group covered various areas including the Limited Liability Partnership Bill, Private versus Public Enforcement of Good Governance in context of Shareholder Activism; and Practical aspects of IFRS implementation. The Task Force also discussed sharing of experi…

Linkedin Announces new applications for collaboration

Today Linkedin is announcing many more ways to interact with your network on LinkedIn. Whether it's a new way to create projects and collaborate, share information, customize your profile, or gain key insights, the new LinkedIn Applications deliver.

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Work collaboratively with your network.Box on LinkedIn: Share files and collaborate with your network.Huddle on LinkedIn: Private workspaces to collaborate with your network on projects.Create your own diamond ring at Mydiamonds.com.

Share information and keep up to date with your network.Amazon on LinkedIn: Discover what your network is reading.TripIt on LinkedIn: See where your network is traveling.SixApart on LinkedIn: Stay up to date with your network's latest blog posts.
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Present yourself and your work in new ways.Google Docs on LinkedIn: Embed a presentation on your profile.SlideShare on LinkedIn: Share, view and comme…

Laptop Theft Tips on how to avoid or mitigate it

You may be travelling for company or personal work and you may taking your laptop along with you. Your laptop may contain sensitive information about your work or personal information like backup of your Palm handheld. Unsecured information on your laptop makes your data vulnerable for theft both business and identity theft.

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Simple tips to protect your laptop:
Protect your laptop with a strong password: If you travel with your laptop frequently, you should secure it with a strong password. A good password would be combination of alpha numeric and special characters. E.g. c00lWelc0me! ... using zero instead of 'o'
Back up before you go: Always back up your information before you take your laptop on a trip. You can't always avoid the financial loss of your equipment, but you can avoid losing all your information in the process.Be careful what you store on your thumb drives: With the growing popularity and increasing memory capabilities …