Are corporate procurement cards for you?
Article Abstract:
Corporate procurement cards (CPCs) offer many benefits to both employers and employees. Through these cards, employees have quicker access to needed goods and experience a sense of trust and empowerment. Companies that give CPCs to their employees, on the other hand, are able to remove or minimize nonvalue-adding activities in such functions as purchasing, accounts payable and production. The use of CPCs also allows the quick analysis on spending patterns, minimizes bank reconciliations and transaction processing, and increases supplier goodwill. However, procurement cards are not for everyone because companies have different issues to face. CPCs are suitable for a particular company if it can control CPC purchasing behavior, adjust its organizational structure and incentive systems to support a CPC program, integrate the CPC with other purchasing programs, meet regulatory and sales tax reporting requirements, and adjust the account structure.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1996
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Reshaping corporate America
Article Abstract:
The Manville Corp was forced to declare Chapter 11 bankruptcy in 1982 to protect itself from asbestos-related liabilities, forcing the company to reexamine the way it conducted business. Manville is now on its way to a full recovery, posting 1988 sales of $2.1 billion and income of $346 million while completely eliminating the production of asbestos products, which accounted for over half of all operating income 13 years ago. The reorganization program created two trusts to pay off liabilities and focused on properly deploying capital internationally, optimizing the return on assets, and creating value for shareholders on both a current and long-term bias. Management is currently concentrating on four activities: efficiently managing the core businesses; acquiring new businesses; eliminating non-essential, undervalued subsidiaries; and maximizing the firm's borrowing.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1990
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