FinanceRegs.com » economy

Another sneaky fee worms its way into your T&E

Carol Katarsky — Thu, 03 Jul 2008 10:00:25 +0000

An old policy is making a comeback — and it’ll rack up extra expenses for your company. To hook business travelers for more expensive tickets, airlines are bringing back minimum stay requirements. It works like this: The cheapest seats on flights to certain cities will require a one- to three-night stay, which means travelers will have to choose between an expensive trip or a few nights away from home.

And that creates a dilemma for your company: The cheaper flight will also mean more nights at a hotel, additional meals and maybe extra days’ rental car expenses. So a super cheap-o flight could easily cost you more when you factor in the additional travel expenses.

Not to mention that some employees will automatically book a more expensive flight without thinking about the cost simply because they’re eager to get home and sleep in their own beds.

To prevent problems, alert upper management now so they can settle on a definitive policy for how to handle the situation. Because it’s only going to become more common.

Right now, United’s the only airline using this new rule, but others are expected to follow suit — soon.

Accounting field outlook is strong despite economy

Shane Borer — Tue, 06 May 2008 10:00:58 +0000

With the economy faltering, times — and budgets — are tighter than ever. But what can already-maxed out Finance departments expect in terms of new hires or cutbacks?

It’s mostly good news: 9% of companies expect to add full-time professionals, 5% plan staff reductions and the remaining 85% don’t anticipate any changes in Finance personnel. That’s according to the latest research from Robert Half International.

Those might not seem like a great numbers, but the 85% is really a blessing in disguise. It means the majority of departments will be able to handle current processes without fear of losing help and being stretched even further.

And those are just the national numbers. Depending on were your company’s located, there may be even greater reasons for optimism. In the South Atlantic region, for example, 13% of companies expect to add accounting and finance employees.

That’s partly because of the highly-competitive market, but it’s certainly relief for those who are either currently employed or are looking for a new job.

Industry factors in, too. Companies in the business services sector expect to see a 10% increase in hiring activity, while those in the construction industry anticipate a 7% spike in finance personnel.

Recession worries: What do they mean for Accounting?

Carol Katarsky — Tue, 08 Apr 2008 18:27:19 +0000

It’s not exactly news that the economy is, uh, in a “rough patch” at the moment. But some sectors of the economy are getting hit harder than others. Which leaves us wondering: What’s the outlook for Accounting pros? Turns out, not so bad.

The latest Manpower Employment Outlook Survey shows just a small downward tick for employment in the finance sector — 12% of firms say they’re expecting to increase headcount in the upcoming quarter. That’s down just one point from last quarter. (OK, 12% may not seem great, but compare that to industries like construction where only 3% are expecting to grow payrolls.)

Where you’re located makes a big difference too. The Northeast leads the way with slight growth — 16% of companies are planning to hire, up from 14%. In the South, hiring looks to remain basically flat at 17% (down from 18%).

Manpower predicts the Midwest and West will get hit the hardest. Only 10% of companies in the Midwest are planning to hire (down from 15%) and in the West that number is 14% (down from 24%).