Anti-money laundering

Well laid out and concisely written information - useful for finding ways of complying without 'using a sledgehammer tom crack a nut'.

The Law Society - Anti-money laundering: "the level of money laundering and terrorist financing risks are low"

Anti-bribery training

Completed an on-line training session to keep me up to date on anti-bribery training.

Applying it to my situation I was initially concerned to think that I might be responsible ensuring that recruitment agents finding me new roles understand and follow the rules.  After further thought, it seems that the agents are finding applicants for a vacancy rather than finding vacancies for an applicant,  On that basis, the client is responsible for ensuring the agent follows the rules.

I should point out that I and Smart Accounts Sussex Ltd, only work with reputable agents and would (as required by the law) report any suspicions of bribery.

The worldwide application of this law is good from an ethical stand point but does mean that British companies may struggle to compete in countries where bribery is an endemic part of the culture.  It could though over time be very good for the brand of UK plc?

Using Google for maths and graphs

I wish this had been available when I was at school - it has to beat graph paper!

Mashable - The Social Media Guide

QR Codes

Want a way to give someone a web address without them having to type it into their phone?  Try a QR code that they can scan with their smart phone.

The applications are endless:

• You could stick a QR code to a printer that will take people to the manual
• You could put a QR code on your business card to take people to your Linked In profile
• All adverts could have QR codes to give people more information
• You could have a QR code by every station/bus stop giving a link to live departure information

The best thing is you can create them yourself for free.

Here's an example of a QR code; if you scan it with a bar code scanner on your smartphone, it will take you to a sailing club web site.

And here are ways of making them:

Top 10 Free Online QR Code Generators

Beginner's guide to LinkedIn

Here's a handy starter's guide to Linked In.  If you are not using Linked In to keep your business contacts you are missing out.  It's amazing how often you find something that you would like to pass on to or ask a former colleague if you had their up to date details.  With Linked In you have that and the opportunity to perhaps to contact the contacts of your contacts.

Mashable - The Social Media Guide

Which browser is best? Chrome or Internet Explorer?

I have never seen Chrome (or FireFox) in use in the workplace, where many people use the internet the most.  Now that Internet Explorer is used by less than 50% it makes you wonder whether most people use IE at work and something else at home.
I use Chrome at home for the speed.  The predictive searching saves seconds here and seconds there which all add up.  It's surprising how resistant to technological change many organisations are.
Google Chrome takes second place from Firefox - Telegraph

KPI Excel/Powerpoint training

A day of handover training to learn how EDF creates 'Monthly Monitor', a massive pack of kpi graphs presented in Powerpoint.

KPIs FSS Dashboard and Monthly Monitor

A day's training on how EDF creates the FSS KPI Dashboard and briefly touching on the Monthly Monitor - a graphical KPI report.

Smarter searching in Google

Useful reminder of how to use commands to refine Google searches to find what you are looking for.

Infographic: Get More Out Of Google | HackCollege

Why it's time for business to get social

This is another person's view from the media event at the University of Brighton that I wrote a few days ago.  This writer comes from an HR background and so has a different perspective and some further interesting thoughts.

Robin Hall HR Ltd :: Why It’s Time For Business To Get Social

Social media for job searching

Useful report about use of social media for job hunting in US (interesting because I don't think UK is far behind).  The opening stats are not well written but I think they mean:

• 84% of job seekers have Facebook and of them, 2/3rds use it to look for work.
• 35% of job seekers are on LinkedIn and almost 100% of them use LinkedIn to look for work.

Most interesting, one in 6 of the sample had found a job in 2011 using social networking (although the sample was from a recruiting software platform so will be skewed towards computer literates).

Intuit's New QuickBooks Online Accountant Brings the Cloud – and Its Benefits – to Accountants | AccountingWEB.com

Information about Quickbooks online (cloub based) and a new service they have provided for accountants supporting clients using QB.

Intuit's New QuickBooks Online Accountant Brings the Cloud – and Its Benefits – to Accountants | AccountingWEB.com:

'via Blog this'

Pearltrees

This clever idea lets allows you to make 'trees' out of web sites and then share them (mindmap meets shortcut).  I haven't had the chance to play with it but image if you could use it with local content too and share directories not just pages  How many places have you seen company hard drives with data stored one way for one reason but for other users would be much more useful another way?

For example, one department looks after day to day data input but creates an accrual at the month end.  Another department collects the journals and posts them.  This idea could allow sharing in a better way than just shortcuts so that each party can find the data where it is logical for them..

Pearltrees:

'via Blog this'

How to get the most from the media

Attended an IoD event a the University of Brighton presented by John Fryer who after years at the BBC and Sunday Times certainly seemed to know what he was talking about.

Key points I took away:

• In a press briefing/interview, don't expect to be able to get across more that 3 key points
• Make sure you try and tie those points into other things going on in the world that are interesting
• If you have a bad news story, learn from Blackberry and don't wait 3 days before you say anything
• Social media are key to the future of information dissemination.  Journalists now rank their stories by what is getting hits in social media.  Even newspapermen believe that paper newspapers may not be around in 10 years' time.

And a final ironic twist: it took me a while to find John Fryer on Linked In because he is listed as Fryer John.  You can easily find him though by following this link.

Evidence of attendance.

EDF Finance Conference

Interesting day at the Grand Hotel in Brighton and not really what I was expecting.  I had expected updates on accounting standards, perhaps some explanations of year end and budget procedure for EDF.  Reality was more of a team building day with some business games in the afternoon.  Useful for my energy industry knowledge and putting faces to some voices that I only normally hear from a phone.  It was fun too and useful to hear what some of EDF's recent joiners though of the competition that they had been working with previously.  I cannot go into what was said because of client confidentially...

Link to agenda

More about Google's +1 button

This looks like it might be something to keep watching.  More information by clicking the link...

Social SEO: Google Adds +1 Button To Image Search

Yammer Widens Its Ecosystem Big Time

Interesting article about Power Pivots - these are what will take over from Pivot Tables if and when we all upgrade to Excel 2010.   Excel extras: using PowerPivot

An article reminding us that operating leases will become even rarer.  Lease accounting changes 'little known' - Accountancy Age mobile

A really interesting article predicting an IT implementation boom, mainly lead by the Cloud revolution.  I think this could be possible, especially when you consider how many companies have held back on IT implementation for the last 5 or probably 10 years.  As soon as the economy picks up it will be upgrade time.  Of course the forward thinking companies will be doing this now so that the investment is in place before their rivals so they can concentrate on growth when boom times come.

Tech - Companies

SMEs want accountants to work online - Accountancy Age mobile

And Accountants want their clients to work online!

Steve Jobs and the Seven Rules of Success | Entrepreneur.com

Steve Jobs and the Seven Rules of Success | Entrepreneur.com:

'via Blog this'

10 ways Evernote can train you to think like a social media power user


Some interesting ideas here on extending the use of Evernote.I'm not sure I'm quite ready to ditch Blogger for Evernote - but perhaps after some more testing?  Does anyone out there have any ideas for measuring traffic on a shared Evernote book in the way you can measure traffic on Blogger?

Cloud computing for disaster recovery

Now that the notion of cloud computing has gained some stature in the IT community, a lot of vendors are looking at cloud computing as a disaster recovery solution. After all, if you can provision a cloud to take over for your IT operations afte ... http://feedproxy.google.com/~r/readwriteweb/~3/Y4HgXXILF4Q/disaster-recovery-and-the-clou.php Shared via my6sense

Big businesses thinking small

BBC News - The big businesses learning how to think small

Physical Facebook identity cards

Facebook has filed for a trademark on the usage of “Facebook” on business cards and, more curiously, “non-magnetically encoded” ID cards among other things. If granted the trademark would protect using the word Facebook in the specified formats, ... More here.  Shared via my6sense

Why it's best to be friends with Facebook

It's boom time for the site once considered a fad, as tailored online ads take off.

An interesting article in The Independent

Using social media to speed up month end

Introducing 'Social CFOs' | Business Finance


Now, I like the idea of using social media to make month end more efficient but in a busy month end, people tend to prioritise.  This means non-urgent emails get flagged for after month end and I suspect social media would normally not be looked at at all.

The key to making this work then, would seem to preparation (as always) and clear tagging or grouping.  In other words - people need to know in advance that the social media will be used and have a way to easily filter out the less urgent information and concentrate on the time sensitive 'month end stream'.

Yammer might cope with this rather well?

Business future for Facebook

There wasn't a lot of outright prophecy emerging from the Dreamforce conference three weeks ago, but Salesforce.com CEO Marc Benioff did say this: "Facebook is eating the Web. And the Web is getting smaller now, and we're trying to get our heads ... http://feedproxy.google.com/~r/readwriteweb/~3/7Hunh_YilKE/how-facebook-ate-the-web.php Shared via my6sense

I'm keen on saving the planet but a little sceptical about some of the claims in this article.  Yes companies with low carbon emissions may be outperforming other companies but which is causing which?  Might it be that a high performance company can better afford to invest in low carbon projects?  Some projects may have fantastically quick paybacks but I have seen plenty of green projects - recycling especially, that benefit emissions but not the bottom line.

BBC News - Low carbon companies outperform, says CDP

Drop the Autobot: Manual Posting to Facebook Outperforms Automated

Interesting article about the relative merits of manual or automatic posting to Facebook, Twitter etc

http://www.readwriteweb.com/archives/manually_posting_to_facebook_significantly_outperf.php?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+readwriteweb+%28ReadWriteWeb%29

Use of display screen equipment and desk

Took opportunity of client's course to update knowledge of how to safely use a desk and computer screen.  New point to me was that when concentrating on a screen, one blinks less which can lead to dry eyes (which has been a problem for me a few years ago).  The solution: take breaks and blink more.

Certificate is here.

Evernote for Android Updated with Skitch Integration and More

Third of companies block social media - FT.com

SAP ZJV Journals

Following on from a 'there has to be a better way of doing this....' discussion, I tracked down someone who could explain about ZJV journals.

SAP (as set up with current client in any case) has 3 main journal methods:

Manual
Best for short jounals

Complex posting Fast Entry jounals
Quicker than manual entry but data has to be pasted in a column at a time (max 20 rows per page) or put through a converter before pasting.

ZJV journals
With these, the data goes straight into a converter spreadsheet, a macro converts it to the correct format and the result is saved as a txt file.  This file is then sucked in by SAP.  Job done.  I fiddle for short journals but a step forward for long journals.

Update on future payment technologies

It’s no secret that credit card companies are shelling out big bucks and aggressively forming partnerships and deals to start cashing in on the mobile and digital payments innovations currently taking place. American Express, which recently debut ... http://feedproxy.google.com/~r/Techcrunch/~3/Ch69TdmLQNQ/

Shared via my6sense

Preparing for interns

Interns: Yay or Nay? | AccountingWEB.com
Useful checklist for preparing for interns.

Mashable - The Social Media Guide

The GAAPweb blog: How to tackle competency-based interviews

Pension law changes

This link goes to a fairly brief summary of the changes and employers' obligations but don't panic as this is the timetable (so far):

Staging date timeline

Use the table below to get an idea of when the new law will apply to you. The date your duties will start is known as your 'staging date'. The dates below are indicative. Actual staging dates will be based on the number of people in an employer's PAYE scheme on 1 April 2012.

You'll need to have details of your PAYE scheme to hand, including the reference number(s) and the size of your PAYE scheme. If you have more than one PAYE scheme, your duties will all start together from the staging date that comes first.

Employer (by PAYE scheme size or other description)	Staging date
120,000 or more	1 October 2012
50,000-119,999	1 November 2012
30,000-49,999	1 January 2013
20,000-29,999	1 February 2013
10,000-19,999	1 March 2013
6,000-9,999	1 April 2013
4,100-5,999	1 May 2013
4,000-4,099	1 June 2013
3,000-3,999	1 July 2013
2,000-2,999	1 August 2013
1,250-1,999	1 September 2013
800-1,249	1 October 2013
500-799	1 November 2013
350-499	1 January 2014
250-349	1 February 2014
Less than 50 with the last 2 characters in their PAYE reference numbers 92, A1-A9, AA-AZ, B1-B9, BA-BY, M1-M9, MA-MZ, Z1-Z9 or ZA-ZZ	1 March 2014
240-249	1 April 2014
150-239	1 May 2014
90-149	1 June 2014
50-89	1 July 2014
Less than 50 with the last 2 characters in their PAYE reference numbers BZ	1 August 2014
Less than 50 with the last 2 characters in their PAYE reference numbers 00-01	1 September 2014
Less than 50 with the last 2 characters in their PAYE reference numbers 02-04	1 October 2014
Less than 50 with the last 2 characters in their PAYE reference numbers 05-07, 0A-0Z, C1-C9, CA-CZ, D1-D9 or DA-DZ	1 November 2014
Less than 50 with the last 2 characters in their PAYE reference numbers 08-11, 1A-1Z, E1-E9 or EA-EZ	1 January 2015
Less than 50 with the last 2 characters in their PAYE reference numbers 12-15, 2A-2Z, F1-F9, FA-FZ, G1-G9 or GA-GZ	1 February 2015
Less than 50 with the last 2 characters in their PAYE reference numbers 16-20, 3A-3Z, H1-H9 or HA-HZ	1 March 2015
Less than 50 with the last 2 characters in their PAYE reference numbers I1-I9, IA-IZ	1 April 2015
Less than 50 with the last 2 characters in their PAYE reference numbers 21-25, 4A-4Z, J1-J9 or JA-JZ	1 May 2015
Less than 50 with the last 2 characters in their PAYE reference numbers 26-31, 5A-5Z, K1-K9 or KA-KZ	1 June 2015
Less than 50 with the last 2 characters in their PAYE reference numbers 32-38, 6A-6Z, L1-L9 or LA-LZ	1 July 2015
Less than 50 with the last 2 characters in their PAYE reference numbers N1-N9 or NA-NZ	1 August 2015
Less than 50 with the last 2 characters in their PAYE reference numbers 39-47, 7A-7Z, O1-O9, OA-OZ, P1-P9 or PA-PZ	1 September 2015
Less than 50 with the last 2 characters in their PAYE reference numbers 48-57, 8A-8Z, Q1-Q9, QA-QZ, R1-R9, RA-RZ, S1-S9, SA-SZ, T1-T9 or TA-TZ	1 October 2015
Less than 50 with the last 2 characters in their PAYE reference numbers 58-69, 9A-9Z, U1-U9, UA-UZ, V1-V9, VA-VZ, W1-W9, WA-WZ	1 November 2015
Less than 50 with the last 2 characters in their PAYE reference numbers 70-83, X1-X9, XA-XZ, Y1-Y9 or YA-YZ	1 January 2016
Less than 50 with the last 2 characters in their PAYE reference numbers 84-91 or 93-99	1 February 2016

Excel Range Names

Everything you need to know about Excel range names | AccountingWEB.com

Keynote speech (video) on Cloud Accounting

More about the Cloud from CIMA.  Watched the first clip - more for watching later.

Financial Forecasting

Have spent last 3 weeks working on detailed forecasts for large client using Excel.  Although the spreadsheets are not technically that complex, their size and the complexity of the business is calling for some fast learning.  Data inconsistencies have called for some spreadsheetery to make best sense and improve forecasts of future.

What is Cloud Computing

CIMA CPD event that completely changed my view of Cloud Computing.

I had thought of Cloud Computing in fragmented terms with each application being in a separate cloud eg Gmail, Evernote etc.  This opened my eyes to the advantages of having a single private cloud.

The disadvantages of the fragmented cloud are:

1. You do not know where your data is and it may be hard to back it up (not an issue with Evernote) and although Google's reputation depends on protecting my data, if there is a problem I have no redress.
2. May not have control over version control

Advantages of personal cloud are:

1. Clear where data is and option exists for backups.
2. Running desk top applications from cloud.  I would have licences for applications and could run them from my own server or another cloud supplier if fell out with first one.

Effect is very much like having outsourced IT.  This could be very much of interest for running small to medium sized offices, although not of interest to me at present since much of the time I am working directly onto clients' systems.

Presentation was by System Host which came across as a very credible and competent supplier.

Further details (sorry requires password as contains confidential and copyright information).

Bribery Act 2010

Read this summary from CIMA about the new Bribery Act.

In short, the rules are tightened to be what one would expect them to be.  From a technical update I went to a couple of weeks ago though, single acts of entertainment will still be allowable.  I may need to read up on these should the need arise.

Guidelines of good practice to be issued by government (at some unspecified time in future) - watch out for these.

Computers make nurses more efficient

This article in the HSJ (sorry link only works for me as could not find this article on HSJ on line and copyright prevents me sharing publicly) shows the results of a case study.  In the study, community nurses were given ruggedised laptops with 3G cards.

The expected result was that travels costs would go down but in fact that did not happen (they stayed static).  This is because instead of going back to the office, the nurses made 5% extra visits.  Using the computers allowed them to make their notes as they went along.

Data is not stored on the machine, making sensible use of the cloud.

Technical Accounting and Auditing Standards Update

Full day technical update organised by ACCA and South Coast Audit.  Presented by Charles Gubbins BSc CA.

AM: Mainly IFRS updates with some UKGAAP.
PM: Governance and audit.

Particular points of interest:

• Treatment of leases still moving.  Moving towards capitalisation of all leases but distinction between operating and finance leases will remain.
• Profit and loss account to change again and become 'Statement of Profit or Loss and other comprehensive income'.
• Sustainability: not a requirement to report this yet but need to be in a position to do so.  In particular, business mileages, gas, electricity and this information for any major subcontractors.
• UK Corporate Governance code

Certificate

e-security at home

This CPD mainly with my school governor hat on.

Attended talk about e-security given by ESCC expert.  Main points:

• Web blocking filtering software cannot be relied on and education is better approach
• Monitoring and on-going discussion with children is essential
• Recommended that if child opposes monitoring, they are reminded that their computer use at school is monitored, as will be their use at work.  Advised to warn child before check (at least the first time) to give them a chance to clear anything they know they are concerned about.  Stress that most information once uploaded to the web cannot be erased.
• Discuss high profile cases in press and analyse what went wrong
• If web filters are too harsh, child is likely to find a way around - such as using a friend's computer
• Discuss photos with children and ask if appropriate for posting on web - remember to look in the background (calendar showing when on holiday) or 'photo of me outside my house with road name'.

NHS updates

Read the following articles from HFMA and HSJ to keep my NHS CPD up to date (these links may require subscriptions and or passwords to access because of copyright constraints).

Service line management and service line reporting (SLM and SLR)
Procurement - improving value
Single operating model for GP clusters
Organisational report poses 'catastrophic' data risk

Can Cloud Computing Clear the Air?

Read this article from CFO exploring some of the corporate effects of Cloud computing.

The Cloud - battle of the Titans

Read this article in Bloomberg.  A long article, it looks at some of the strategic and structural issues of moving to the Cloud.  I like the analogy at the end - computing is like electricity generation.  Most companies now have their computing power in-house but soon they will realise that it's better to get one of the big suppliers to do it so them - it gives more capacity and ultimately, is cheaper and more reliable.  Includes brief mentions of data security concerns.

First impressions of Microsoft Office 365

See my main blog for this post.

The no nonsense business case for cloud accounting AccMan

Read this interesting article about Cloud Accounting - strategic in nature and looking at possible future of big players including Microsoft.

The no nonsense business case for cloud accounting AccMan

Skills for getting a job

A CIMA hosted event run by Robert Walters and Kimberley Clark

Key points:

• CV should emphasis achievements not just responsibilities
• COGS analysis is experience that people often have but frequently omit from CVs
• CV should state that driving licence is held
• Consider adding totallyfinancial.com to watchlist
• Business Partner is latest financial buzzword. Incorporate this into CV
• "Create value and manage risk" is part of Kimberly-Clark's mission statement, but seems like a good phrase for adding into a CV
• Market for part quals and newly qualifieds is quite active.

Notes about Robert Walters:

• Worldwide coverage but office for Guildford office covers an enormous patch covering the whole of the south of England from Reading downwards
• Their main focus is blue-chip companies although they also cover SMEs when they can
• Ben Davies is their man covering interim work

Notes about Kimberly Clark

• Wherever possible they recruit from within
• Where this is not possible, they highly value referrals from employees
• When they have to recruit from outside, they prefer people with a big company background and specifically try and avoid people with SME background because of their concerns that people will have problems with cultural adaptation
• KC has a long recruitment process with many different levels. This includes telephone screening by an HR person as an initial check that the boxes are ticked (rate ambition etc). This is followed by a telephone interview by a line manager. Success at this stage leads to a first formal interview with normally two line managers. A second interview is usually with two further line managers.

1.5 hours CPD

Tax and Pension update

Attended a presentation hosted by Morgan McKinley and Spofforths.

Tax update in the light of last week's budget
Key points new to me:

1. Although the 'big company' tax rate will drop from 28% to 26% in Apr 11 and then gradually down to 23% by Apr 2014, the small company rate will reduce to 20% and stay there.
2. Written down allowances (WDAs) will be 20% for 11/12 (special rate pool 10%) but will fall to 18% from 2012/12 (special rate pool 8%).
3. Research and Development (R&D) threshold reduced to £10k (need to see more about definitions).

Pensions changes

presented by Philip Wise

1. Govt to introduce 'auto-enrolment' pensions.  This means that employers will be required to set up pension schemes and enrol all employees into them. The employer must make a contribution and the employee must make a contribution. There is a default scheme called NEST, or the employer may pick a private scheme.
2. The scheme is to start in July 2012 for voluntary adopters. As the current timing stands, large companies or those employing over 800 people are due to start October 2012 to October 2013. Companies employing fewer than 50 people will be staggered over the period July 2014 to February 2016. It was though considered likely that the dates may slip.
3. The contributions will be phased in also. Up until October 2016 employee contribution will be 1% and the employer contribution will be 1%. Between October 2016 and October 2017 the contributions will be 3% for employees and 2% for employers. After 2017 it will be 5% of employees and 3% for employers. The scheme will apply to all jobholder under the pension age, aged over 22, who earn more than £7,475 and this includes part-timers.
4. The employers is required to enrol all employees and re-enrol them every three years. Employees may opt out, in which case they would not have to pay their contribution and the employer would not have to pay his contribution.
5. The employer is specifically banned from discouraging membership of the scheme - for example offering extra salary for employees to opt out. The employer is also specifically banned from giving advice, for example, concerning whether to opt out.

1.5 hours CPD

P11d Dispensation

This link reminded me that a bit of planning now can save a whole lot of work later.  Having a dispensation now means less numbers need to go on the P11d forms at the end of this and subsequent tax years.  I've applied for mine.

Cloud computing: special report | Cloud | Features | PC Pro

Read this interesting special report about Cloud Computing by PC Pro. It has to be the way forward for accounting systems because of the increased robustness and geographical flexibility.

Cloud computing: special report | Cloud | Features | PC Pro

You Can't Multitask, So Stop Trying - BusinessWeek

A very interesting article which seems to confirm that time management is the answer - rather than trying to do everything at once.

You Can't Multitask, So Stop Trying - BusinessWeek

Revision of differences between IFRS and UK GAAP

Found this concise summary although it deals only with policy differences and seems to miss out leases.  Many of the changes are actually to do with disclosure.

For a really thorough analysis, look at this site which has a pdf of a detailed report comparing and contrasting UKGAAP to IFRS.  The executive summary is on pages 4 to 8 of 96.  The report was written in Nov 2010.

Tax treatment of training for sole traders

A concise article on a question that also came up in a meeting that I had with a client in the past couple of months.

Working in Practice

Have spent the last couple of months working in practice with fellow CIMA member in  practice (MiP) Peter Lewis, at TaxAssist.

This has been excellent CPD as it has brushed up my knowledge on sole traders, income tax and capital allowances as well as creating company accounts from incomplete records.  Also included tax returns for individuals and companies.

It seems that working in practice can be a lot of fun.  Clients seem to really appreciate the assistance they are given.  Having many small clients rather than one big one spreads the risk but can mean that everyone is trying to get hold of you at the same time.  Potential downsides seem to be the high overheads of running an office and overload if work flow is not carefully managed.

For thought:

1. With a decent scanner and laptops, I could probably operate a similar business from home with reduced overheads, should I ever wish to.
2. Is Seaford big enough to support a client base?
3. Would it be possible to have a shared office space in say Eastbourne, where I would have a share of a full time receptionist and use of an office say 2 days a week?
4. Need to be very aware of costs of low charge clients.  Even if all the processing can be delegated, just meeting, greeting and final meetings take a lot of time.