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03 Jul 2009
Nearly all mid-sized businesses surveyed by the Chartered Institute of Management Accountants said they expected to survive the recession.
Of over 600 CIMA members surveyed across the UK and Ireland, 83% said they could weather the downturn, while 80% of management accountants were confident of keeping their job.
But many firms had already shed staff, and the majority reported a decrease of over 10% in either turnover or net profit in the past year. But they had not experienced a commensurate decline in costs, including overheads, supplier prices or basic salary packages. One-third of respondents had experienced cost hikes between 1 and 5% in these areas.
Most of the businesses said the government's 2.5% value added tax reduction has not had a measurable effect.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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