Global Accountant Sept / Oct 2010

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Job Skills

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‹ ACCA Global 2010, Generation Y: Realising the Potential

Generation Y Young accountants challenge employers for dynamic careers. 4VYL [OHU OHSM VM `V\UN ÄUHUJL WYVMLZZPVUHSZ ZLLR [V \ZL [OLPY ÄUHUJL [YHPUPUN PU IYVHKLY I\ZPULZZ JHYLLYZ ;OL `V\UN ÄUHUJL WYVMLZZPVUHS VM [OL Z[ JLU[\Y` OHZ H JVUÄKLU[ HUK JSLHY ]PZPVU VM [OLPY JHYLLY WYVNYLZZPVU KLTHUKZ QVI ZLJ\YP[` HUK PZ TV[P]H[LK I` TVUL` ÄUKZ UL^ YLZLHYJO MYVT (**( [OL (ZZVJPH[PVU VM *OHY[LYLK *LY[PÄLK (JJV\U[HU[Z HUK 4LYJLY [OL O\THU YLZV\YJL JVUZ\S[HUJ` ;OL YLZLHYJO ZOV^Z H NLULYH[PVU VM `V\UN ÄUHUJL WYVMLZZPVUHSZ ZLLRPUN HZWPYH[PVUHS HUK K`UHTPJ JHYLLY WH[OZ IV[O PUZPKL HUK V\[ZPKL

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6[OLY RL` ÄUKPUNZ MYVT [OL YLZLHYJO reveal the following: 4VUL` TH[[LYZ! YLT\ULYH[PVU PZ PTWVY[HU[ [V [OPZ HNL NYV\W HUK [OL` ZLLR V\[ JVTWL[P[P]L WHJRHNLZ )\[ [OL` HSZV ^HU[ H NVVK JVU[YHJ[\HS WHJRHNL ¶ [OL` ^HU[ TVUL` ^VYR SPML IHSHUJL HUK [OL` ^HU[ [V ^VYR MVY HU H[[YHJ[P]L IYHUK

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Dell pays $100m in Cookie Jar Accounting U.S Securities and Exchange Commission 2010, SEC Charges Dell and Senior Executives with Disclosure and Accounting Fraud

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Sovereign debt crisis hits Eurozone economic growth ‹ Ernst & Young UK 2010, Sovereign debt crisis hits Eurozone economic growth B6USPULD

Years of stagnation in Southern Europe; GDP growth in North dependent on exports ;OL PTTPULU[ [OYLH[ VM KLMH\S[ TH` OH]L WHZZLK I\[ [OL JYPZPZ PZ MHY MYVT V]LY PU [OL ,\YVaVUL HJJVYKPUN [V ,YUZ[ @V\UN»Z X\HY[LYS` ,\YVaVUL -VYLJHZ[ ,,- ;OL ,,- OHZ YL]PZLK P[Z MVYLJHZ[ MVY [OL YLNPVU»Z NYV^[O KV^U [V [OPZ `LHY HUK MVY -\Y[OLYTVYL \USLZZ [OL ,\ YVaVUL ZLYPV\ZS` [HJRSLZ Z[Y\J[\YHS YLMVYTZ [OH[ HYL [OL YVV[ VM [OL THZZP]L JOHSSLUNLZ P[ MHJLZ [OL YPZRZ VM HU LJVUVTPJ ¸SVZ[ KLJHKL¹ SPRL [OH[ VM 1HWHU PU [OL Z HYL ZPNUPÄJHU[ WHY[PJ\SHYS` MVY JV\U[YPLZ PU :V\[OLYU ,\YVWL 4HYPL +PYVU :LUPVY ,JVUVTPJ (K]PZVY [V [OL ,YUZ[ @V\UN ,\YVaVUL -VYLJHZ[ ZHPK ¸;OL YLWLYJ\ZZPVUZ VM [OL ZV]LYLPNU KLI[ JYPZPZ ^PSS TLHU LJVUVTPJ NYV^[O PU [OL ,\YVaVUL ILPUN SV^LY WLY HUU\T [OHU PU [OL <: V]LY [OL UL_[ Ä]L `LHYZ ;OL PTWHJ[ VU QVIZ PZ Q\Z[ HZ Z[YPR PUN >OPSL K\YPUN [OL <: LJVUVT` ^PSS NLULYH[L TVYL [OHU TPSSPVU UL^ QVIZ LTWSV` TLU[ SL]LSZ ^PSS IHYLS` JOHUNL PU [OL ,\YVaVUL ¹ 4HYR 6[[` (YLH 4HUHNPUN 7HY[ULY ,\YVWL 4PKKSL ,HZ[ 0UKPH HUK (MYPJH MVY ,YUZ[ @V\UN ZHPK ¸;OL ZV]LYLPNU KLI[ JYPZPZ OHZ OP[ HU HSYLHK` MYHNPSL ,\YVaVUL LJVUVT` ]LY` OHYK )\ZPULZZLZ HJYVZZ ,\YVWL ^PSS SVVR [V [OLPY NV]LYUTLU[Z HUK [V [OL WHU ,\YVWLHU PUZ[P[\[PVUZ MVY ÄYT SLHKLYZOPW HUK WVSPJ` JVVYKPUH[PVU 4\KKSPUN [OYV\NO PZ ZPTWS` UV[ HU VW[PVU PM ,\YVWL PZ [V IL H SVUN [LYT JVU[LUKLY VU [OL ^VYSK LJV UVTPJ Z[HNL ¹

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With notable divergence from the North ;OL MVYLJHZ[ Z\NNLZ[Z [OL V\[SVVR PU 5VY[OLYU ,\YVWL PZ YLSH[P]LS` VW[PTPZ[PJ MVY [^V THPU YLHZVUZ -PYZ[S` JV\U[YPLZ SPRL .LYTHU` HUK [OL 5L[OLYSHUKZ LUQV` Z[YVUN JVTWL[P[P]LULZZ SL]LSZ HM[LY `LHYZ VM YVI\Z[ WYVK\J[P]P[` NYV^[O HUK ^HNL TVKLYH[PVU HUK [OL` HYL PU H NVVK WVZP[PVU [V YLHW [OL ILULÄ[Z VM H YVI\Z[ YLJV] LY` H[ [OL NSVIHS SL]LS :LJVUKS` ^OPSL ZPNUPÄJHU[ [OL ÄZJHS HKQ\Z[TLU[ [OH[ PZ ULLKLK PU [OL 5VY[O PZ THUHNLHISL HUK NV]LYUTLU[Z JHU W\ZO HOLHK ^P[O KLÄJP[ YLK\J [PVUZ ^P[OV\[ PTWHJ[PUN NYV^[O Z\IZ[HU[PHSS`

Euro continues to weaken and interest rates on hold until 2011 ,,- L_WLJ[Z [OL L\YV [V MHSS [V <: I` [OL LUK VM UL_[ `LHY ILMVYL YPZPUN IHJR ZSPNO[S` HZ

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No rapid recovery in business investment

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New SME Implementation Group ‹ IFRS Foundation 2010, IFRS Foundation appoints members of the SME Implementation Group

The IFRS Foundation has set up a new SME Implementation Group to support the international adoption of IFRS for SMEs and monitor its implementation. ;OL NYV\W ^PSS IL [HZRLK ^P[O KL]LSVWPUN UVU THUKH[VY` N\PKHUJL MVY PTWSLTLU[PUN 0-9: MVY :4,Z PU [OL MVYT VM X\LZ[PVUZ HUK HUZ^LYZ [OH[ ^PSS IL THKL W\ISPJS` H]HPSHISL (Z ^L HSYLHK` RUV^ [OH[ [OL Z[HUKHYK PZ UV[ [V JOHUNL MVY [OYLL `LHYZ ZPUJL P[Z ÄYZ[ W\ISPJH[PVU [OL NYV\W PZ SPRLS` [V ZOV\SKLY HU PUMVYTH[PVU NH[OLYPUN HUK YLTLK` WYVK\JPUN YLZWVUZPIPSP[`

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Hong Kong and Chinese mainland to become hub for cross-border IPO activities ‹ Ernst & Young China Newsroom 2010, Hong Kong and Chinese mainland to become hub for cross-border IPO activities B6USPULD

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News

Chinese cities lead the way in attracting foreign investment ‹ PriceWaterhouseCoopers 2010, Chinese cities lead the way in attracting foreign investment report

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MHJ[ YHURLK OPNOLZ[ PU H[[YHJ[PUN -+0 IV[O PU [LYTZ VM [OL U\TILY VM NYLLUÄLSK WYVQLJ[Z HUK [OL [V[HS ]HS\L VM JHWP[HS PU]LZ[TLU[ ([[YHJ[ PUN -+0 PZ VUL VM [OL ]HYPHISLZ PU [OL ¸,JVUVTPJ *SV\[¹ PUKPJH[VY [OL JH[ LNVY` [OH[ PUKPJH[LZ H JP[`»Z HIPSP[` [V PUÃ…\LUJL ^VYSK THYRL[Z H[[YHJ[ PU]LZ[TLU[ HUK Z[PT\SH[L NYV^[O (KKP[PVUHSS` :OHUNOHP YHURLK OPNOS` PU 0*; 0UMVYTH[PVU HUK JVT T\UPJH[PVU [LJOUVSVNPLZ JVTWL[P [P]LULZZ VUL VM [OL TLHZ\YLTLU[Z VM [LJOUVSVN` 08 HUK PUUV]H[PVU

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¸:OHUNOHP PZ H[[YHJ[PUN HU PUJYLHZ PUN HTV\U[ VM MVYLPNU PU]LZ[ TLU[ ¹ ZHPK 5VYH >\ 7YPJL^H[LY OV\ZL*VVWLYZ 7^* *OPUH 3LHK

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7HY[ULY MVY :OHUNOHP ¸(S[OV\NO :OHUNOHP OHZ ZVTL ^H` [V NV [V^HYKZ P[Z NVHS VM I\PSKPUN HU PU[LYUH[PVUHS ÄUHUJPHS JLU[YL P[ OHZ

[PNLY NYV^[O JP[PLZ >P[O [OL NVHS VM ILJVTPUN H ^VYSK JSHZZ JP[` )LPQPUN OHZ Z[HY[LK [V I\PSK P[ZLSM HZ H JLU[YL MVY PU[LYUH[PVUHS [YHKL HUK

N\PKL I\ZPULZZ HUK NV]LYUTLU[ SLHKLYZ ^OV ^HU[ [V PTWYV]L [OL JVTWL[P[P]L Z[HUKPUN VM [OL JP[PLZ [OL` YLWYLZLU[

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Corporate Governance

Confronting Corruption ‹ 7YPJL^H[LYOV\ZL*VVWLYZ 2010, Confronting Corruption report B,_LJ\[P]L :\TTHY`D

(STVZ[ L]LY` JVTWHU` YLNHYKSLZZ VM ZPaL PUK\Z[Y` VY JV\U[Y` VM VWLYH [PVU PZ L_WVZLK [V ZVTL KLNYLL VM JVYY\W[PVU YPZR :VTL ZLJ[VYZ Z\JO HZ KLMLUJL JVUZ[Y\J[PVU HUK [OL L_[YHJ[P]L PUK\Z[YPLZ PKLU[PÄLK [OL KHU NLY LHYS` HUK ILNHU KL]LSVWPUN THUHNLTLU[ Z[YH[LNPLZ 6[OLYZ HYL Q\Z[ ^HRPUN \W [V [OL YPZR VM[LU ILJH\ZL OPNO WYVÄSL LUMVYJLTLU[ WLUHS[PLZ OH]L JH\NO[ [OLPY H[[LU[PVU VY ILJH\ZL [OL` HYL ZLLRPUN VWWVY[\UP[PLZ PU \UMHTPSPHY THYRL[Z *VTWHUPLZ HYL HSZV MVJ\ZPUN VU JVYY\W[PVU YPZR [V WYV [LJ[ [OLPY TVZ[ ]P[HS HZZL[·[OLPY YLW\[H[PVU·HUK HYL KL]LSVWPUN ZVJPHSS` YLZWVUZPISL I\ZPULZZ TVKLSZ L_WLJ[LK I` PU]LZ[VYZ HUK V[OLY Z[HRLOVSK LYZ <U[PS YLJLU[S` OV^L]LY THU` KPK UV[ \UKLYZ[HUK [OL I\ZPULZZ JHZL VY SHJRLK [OL WYHJ[PJHS [VVSZ HUK WYVNYHTTLZ ULJLZZHY` [V PTWSLTLU[ HU LMMLJ[P]L HU[P JVYY\W[PVU Z[YH[LN` ;OL WV[LU[PHS VM JVYY\W[PVU TH` HS^H`Z IL WYLZLU[" OV^L]LY JVTWHUPLZ JHU SLHYU MYVT V[OLYZ HUK ZL[ \W H YVI\Z[ HUK WYVHJ[P]L HU[P JVYY\W[PVU WYVNYHTTL [V TP[PNH[L [OLPY YPZR ;OPZ YLWVY[ L_HTPULZ ^OH[ JVTWHUPLZ HYL J\YYLU[S` KVPUN [V THUHNL [OL YPZR VM JVYY\W[PVU HUK ^OH[ Z[LWZ [OL` ZOV\SK [HRL [V IL[[LY WYV[LJ[ [OLT ZLS]LZ PU [OL M\[\YL ;OL YLZLHYJO PZ IHZLK VU [^V [`WLZ VM PUMVYTH[PVU -PYZ[ H NSVIHS VUSPUL Z\Y]L` ^HZ JVUK\J[LK PU 5V]LTILY VM ZLUPVY L_LJ\[P]LZ VM ^OVT TVYL [OHU OHSM ^LYL * Z\P[L VY IVHYK SL]LS L_LJ\[P]LZ :LJVUK [OL Z\Y]L` ^HZ Z\WWSLTLU[LK ^P[O PU KLW[O PU[LY]PL^Z ^P[O ZL UPVY L_LJ\[P]LZ HUK ZWLJPHSPZ[Z PU HU[P JVYY\W[PVU LMMVY[Z MYVT JV\U[YPLZ

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An increasing number of companies recognise their vulnerability to corruption: ‹ (TVUN Z\Y]L` YLZWVUKLU[Z PUKPJH[L [OH[ [OL` OH]L L_WLYPLUJLK ZVTL MVYT VM HJ[\HS VY H[[LTW[LK JVYY\W[PVU ‹ ,UMVYJLTLU[ PZ YPZPUN ^P[O ZH`PUN P[ OHZ PUJYLHZLK PU [OL SHZ[ Ä]L `LHYZ HUK HU[PJPWH[PUN P[ ^PSS Z[YLUN[OLU M\Y[OLY PU [OL UL_[ Ä]L `LHYZ

There is a strong business case for having an anti-corruption strategy that goes beyond avoiding potential enforcement penalties: ‹ (STVZ[ VM YLZWVUKLU[Z ZH` [OL` OH]L UV[ LU[LYLK H ZWLJPÄJ THY RL[ VY W\YZ\LK H WHY[PJ\SHY VWWVY[\UP[` ILJH\ZL VM JVYY\W[PVU YPZRZ ZH` [OLPY JVTWHU` OHZ SVZ[ H IPK ILJH\ZL VM JVYY\W[ VMÄJPHSZ HUK ZH` [OLPY JVTWL[P[VYZ WH` IYPILZ ‹ 0M JVYY\W[PVU ^HZ KPZJV]LYLK ZH` [OL TVZ[ ZL]LYL PTWHJ[ ^V\SK IL [V JVYWVYH[L YLW\[H[PVU ;OPZ PZ NYLH[LY [OHU [OL JVTIPULK [V[HS VM [OVZL ^OV ZH` SLNHS ÄUHUJPHS HUK YLN\SH[VY` PTWHJ[Z ^V\SK IL [OL TVZ[ ZL]LYL ‹ 4VYL [OHU ILSPL]L [OH[ H IL[[LY \UKLYZ[HUKPUN VM JVYY\W[PVU ^PSS OLSW [OLT JVTWL[L TVYL LMMLJ[P]LS` THRL IL[[LY KLJPZPVUZ PTWYV]L JVYWVYH[L ZVJPHS YLZWVUZPIPSP[` HUK LU[LY UL^ THYRL[Z ‹ :P_[` Ä]L WLYJLU[ VM YLZWVUKLU[Z ILSPL]L H SL]LS WSH`PUN ÄLSK PZ JY\ JPHS [V [OLPY JVTWHU`»Z M\[\YL I\ZPULZZ HJ[P]P[PLZ

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Corporate Governance

¸(TVUN Z\Y]L` YLZWVUKLU[Z VUS` HYL ]LY` JVUÄKLU[ [OH[ [OLPY JVTWHU`»Z HU[P JVYY\W[PVU WYVNYHTTL PKLU[PÄLZ HUK TP[Pgates the risk of corruption.” >OPSL JVTWHUPLZ HYL NLULYHSS` YLZWVUKPUN [V [OL YPZR VM JVYY\W[PVU THU` VM [OLPY \UKLYS`PUN WVSPJPLZ HUK JVU[YVSZ KV SP[[SL [V PKLU[PM` HUK TP[PNH[L YPZR K\L [V WVVY KLZPNU VY PTWSLTLU[H[PVU (STVZ[ VM YLZWVUKLU[Z ZH` [OLPY JVTWHU` OHZ ZVTL MVYT VM WYV NYHTTL PU WSHJL [V WYL]LU[ HUK KL[LJ[ JVYY\W[PVU I\[ VUS` HYL ]LY` JVUÄKLU[ [OH[ P[ PKLU[PÄLZ HUK TP[PNH[LZ [OL YPZR VM JVYY\W[PVU :SPNO[S` SLZZ [OHU OHSM ZH` [OLPY WYVNYHTTL PZ JSLHYS` JVTT\UPJH[LK HUK LUMVYJLK ^OPSL ZH` [OLYL HYL WYVISLTZ ^P[O LP[OLY [OL JVT T\UPJH[PVU VY [OL LUMVYJLTLU[ VM [OLPY HU[P JVYY\W[PVU WYVNYHTTL 9PNVYV\Z YPZR HZZLZZTLU[ H JY\JPHS Z[LW PU WYVNYHTTL KLZPNU PZ V]LY SVVRLK I` TVYL [OHU OHSM VM [OVZL Z\Y]L`LK HUK VUS` WLYMVYT WYVHJ[P]L YPZR HZZLZZTLU[Z VY TVUP[VYPUN 6US` VM YLZWVUKLU[Z ILSPL]L [OLPY J\YYLU[ JVU[YVSZ HYL LMMLJ[P]L H[ PKLU[PM`PUN OPNO YPZR I\ZPULZZ WHY[ULYZ VY Z\ZWLJ[ KPZI\YZLTLU[Z

Effective anti-corruption programmes not only mitigate risk but can also enhance corporate reputation and establish credibility: /H]PUN HU HU[P JVYY\W[PVU WYVNYHTTL PU WSHJL HUK W\ISPJPZPUN P[ PZ ZLLU HZ ]HS\HISL VY ]LY` ]HS\HISL [V H JVTWHU`»Z IYHUK I` VM YLZWVUKLU[Z /H]PUN H W\ISPJ YLWVY[ I` HU PUKLWLUKLU[ H\KP[VY Z[H[PUN [OH[ HU HU[P JVYY\W[PVU WYVNYHTTL PZ PU WSHJL HUK VWLYH[PUN LMMLJ[P]LS` PZ JVUZPKLYLK ]HS\HISL VY ]LY` ]HS\HISL [V L_[LYUHS Z[HRLOVSKLYZ I` VM YLZWVUKLU[Z 6]LYHSS [OL Z\Y]L` PUKPJH[LZ [OH[ I\ZPULZZ PZ TVYL RLLUS` H^HYL [OHU L]LY VM [OL KHUNLYZ VM JVYY\W[PVU @L[ TVYL ^VYR PZ ULLKLK I` JVT WHUPLZ [V WYVK\JL HU[P JVYY\W[PVU WYVNYHTTLZ [OH[ HYL ^LSS KLZPNULK JVTWYLOLUZP]L JSLHYS` JVTT\UPJH[LK HUK LUMVYJLK ;OLYL PZ JLY[HPUS` H JVTWLSSPUN I\ZPULZZ JHZL MVY LZ[HISPZOPUN Z\JO WYVNYHTTLZ ,MMVY[Z I` I\ZPULZZ NV]LYUTLU[Z HUK UVU NV]LYUTLU[HS VYNHUPZH[PVUZ PU [OL SHZ[ KLJHKL OH]L NP]LU [OL ÄNO[ HNHPUZ[ JVYY\W[PVU JVUZPKLYHISL TVTLU[\T )\[ ZPNUPÄJHU[ JOHSSLUNLZ SPL HOLHK .V]LYUTLU[ HUK I\ZPULZZ IV[O OH]L ]P[HS YVSLZ [V WSH`! NV]LYUTLU[Z [V PTWSLTLU[ HUK LUMVYJL HU[P JVYY\W[PVU TLHZ\YLZ I\ZPULZZ [V PTWSLTLU[ HUK ]PNVYV\ZS` LUMVYJL HU[P JVYY\W[PVU WYVNYHTTLZ ,HJO T\Z[ HZZ\TL [OLPY YLZWVUZPIPSP[` [V JYLH[L HUK Z\Z[HPU HU LU]PYVUTLU[ [OH[ KLSP]LYZ [OL ILZ[ YLZV\YJLZ H[ [OL ILZ[ ]HS\L [V [OLPY Z[HRLOVSKLYZ

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Technical

Technical Tom Clendon, FCCA, author of “A student’s guide to group accounts” writes about IFRS 3 Business Combinations and IAS 27 Consolidated and Separate Financial Statements ;OPZ HY[PJSL ^PSS NL[ `V\ NVPUN ^P[O X\LZ[PVUZ HSVUN ^P[O KL[HPSLK HUZ^LYZ [V WYLWHYL `V\ MVY `V\Y (**( - HUK 7 L_HTPUH[PVUZ

[OL Z\IZPKPHY` KL[LYTPULZ [OL 5*0 ^P[OV\[ HU` NVVK^PSS ILPUN H[[YPI\[ HISL

New / Gross method Goodwill -VSSV^PUN [OL YL]PZPVUZ [V 0-9: )\ZPULZZ *VTIPUH[PVUZ HUK 0(: *VUZVSPKH[LK HUK :LWHYH[L -PUHU JPHS :[H[LTLU[Z PU 1HU\HY` [OLYL PZ UV^ [^V ^H`Z VM TLH Z\YPUN [OL NVVK^PSS HUK [OL UVU JVU[YVSSPUN PU[LYLZ[ 5*0 [OH[ HYPZLZ VU [OL HJX\PZP[PVU VM H Z\IZPKPHY`

Traditional / Proportionate method ;OL [YHKP[PVUHS TLH Z\YLTLU[ VM NVVK^PSS VU [OL HJX\PZP[PVU VM H Z\IZPKPHY` PZ [OL L_JLZZ VM [OL MHPY ]HS\L VM [OL JVUZPKLYH[PVU NP]LU I` [OL WHYLU[ V]LY [OL WHY LU[»Z ZOHYL VM [OL MHPY ]HS\L VM [OL UL[ HZZL[Z HJX\PYLK ;OPZ TL[OVK JHU IL YLMLYYLK [V HZ [OL WYVWVY [PVUH[L TL[OVK 0[ KL[LYTPULZ VUS` [OL NVVK^PSS [OH[ PZ H[[YPI\[HISL [V [OL WHYLU[ JVTWHU` (JJVYKPUNS` [OL 5*0 ZOHYL VM [OL UL[ HZZL[Z VM

;OL UL^ TL[OVK VM TLHZ\YPUN NVVK^PSS VU [OL HJX\PZP[PVU VM [OL Z\IZPKPHY` PZ [V JVTWHYL [OL MHPY ]HS\L VM [OL ^OVSL VM [OL Z\IZPKPHY` HZ YLWYLZLU[LK I` [OL MHPY ]HS\L VM [OL JVUZPKLYH[PVU NP]LU I` [OL WHYLU[ HUK [OL MHPY ]HS\L VM [OL UVU JVU[YVSSPUN PU[LYLZ[ ^P[O HSS VM [OL MHPY ]HS\L VM [OL UL[ HZZL[Z VM [OL Z\IZPKPHY` HJX\PYLK ;OPZ

TL[OVK JHU IL YLMLYYLK [V HZ [OL NYVZZ VY M\SS NVVK^PSS TL[OVK 0[ KL[LYTPULZ [OL NVVK^PSS [OH[ YLSH[LZ [V [OL ^OVSL VM [OL Z\IZPKPHY` P L NVVK^PSS [OH[ PZ IV[O H[[YPI\[HISL [V [OL WHYLU[»Z PU[LYLZ[ HUK [OL UVU JVU[YVSSPUN PU[LYLZ[ 5*0 (JJVYK PUNS` [OL 5*0 JHU IL KL[LYTPULK HZ [OL -= VM [OL 5*0 H[ HJX\PZP [PVU WS\Z [OL 5*0 ZOHYL VM [OL WVZ[ HJX\PZP[PVU WYVÄ[Z

Consider 9P]LY HJX\PYLZ HU PU[LYLZ[ PU [OL LX\P[` ZOHYLZ VM 7SH[L MVY JVU ZPKLYH[PVU VM ^OLU [OL MHPY ]HS\L VM [OL UVU JVU[YVSSPUN PU[LY LZ[ 5*0 PZ ;OL MHPY ]HS\L VM [OL UL[ HZZL[Z VM 7SH[L H[ HJX\PZP[PVU PZ HUK PZ UV^

Required *HSJ\SH[L [OL NVVK^PSS HYPZPUN VU [OL HJX\PZP[PVU VM 7SH[L VU H WYVWVY[PVUH[L IHZPZ HUK [OL 5*0 H[ [OL `LHY LUK *HSJ\SH[L [OL NYVZZ NVVK ^PSS HYPZPUN VU [OL HJX\PZP [PVU VM 7SH[L HUK [OL 5*0 H[ [OL `LHY LUK

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Article Solution – goodwill and NCI on a proportionate basis

0[ PZ VM JV\YZL UV JV PUJPKLUJL

‹ ;OL WYVWVY[PVUH[L NVVK^PSS HYPZPUN PZ JHSJ\SH[LK I` TH[JOPUN [OL JVU ZPKLYH[PVU [OH[ [OL WHYLU[ OHZ NP]LU ^P[O [OL PU[LYLZ[ [OH[ [OL WHYLU[ HJX\PYLZ PU [OL UL[ HZZL[Z VM [OL Z\IZPKPHY` [V NP]L [OL NVVK^PSS VM [OL Z\IZPKPHY` [OH[ PZ H[[YPI\[HISL [V [OL WHYLU[ 7HYLU[»Z JVZ[ VM PU]LZ[TLU[ H[ [OL MHPY ]HS\L VM JVUZPKLYH[PVU NP]LU 3LZZ [OL WHYLU[»Z ZOHYL VM [OL MHPY ]HS\L VM [OL UL[ HZZL[Z VM [OL Z\IZPKPHY` HJX\PYLK

_

.VVK^PSS H[[YPI\[HISL [V [OL WHYLU[

;OL 5*0 H[ [OL `LHY LUK PZ ZPTWS` [OL 5*0»Z ZOHYL VM [OL `LHY LUK UL[ HZZL[Z 5*0»Z VM [OL `LHY LUK UL[ HZZL[Z

_

Solution - goodwill and NCI on a gross basis ‹ ;OL NYVZZ NVVK^PSS HYPZPUN PZ JHSJ\SH[LK I` TH[JOPUN [OL MHPY ]HS\L VM [OL ^OVSL I\ZPULZZ ^P[O [OL ^OVSL MHPY ]HS\L VM [OL UL[ HZZL[Z VM [OL Z\IZPKPHY` [V NP]L [OL ^OVSL NVVK^PSS VM [OL Z\IZPKPHY` H[[YPI\[HISL [V IV[O [OL WHYLU[ HUK [V [OL 5*0 7HYLU[»Z JVZ[ VM PU]LZ[TLU[ H[ [OL MHPY ]HS\L VM JVUZPKLYH[PVU NP]LU

-HPY ]HS\L VM [OL 5*0

3LZZ VM [OL MHPY ]HS\L VM [OL UL[ HZZL[Z VM [OL Z\IZPKPHY` HJX\PYLK

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.YVZZ NVVK^PSS

;OL 5*0 H[ [OL `LHY LUK PZ JHSJ\SH[LK I` \WKH[PUN [OL MHPY ]HS\L VM [OL 5*0 H[ HJX\PZP[PVU MVY [OLPY ZOHYL VM [OL WVZ[ HJX\PZP[PVU WYVÄ[Z ;OL WHYLU[»Z ZOHYL VM [OL WVZ[ HJX\PZP[PVU WYVÄ[Z PZ WHY[ VM NYV\W WYVÄ[Z ;OL WVZ[ HJX\P ZP[PVU WYVÄ[Z HYL [OL YPZL PU [OL UL[ HZZL[Z VM [OL Z\IZPKPHY` ZPUJL HJX\PZP [PVU P L -HPY ]HS\L VM [OL 5*0 H[ HJX\PZP[PVU 7S\Z [OL 5*0»Z VM [OL WVZ[ HJX\PZP[PVU WYVÄ[

_

[OH[ ^P[O NYVZZ NVVK^PSS IV[O [OL NVVK^PSS HUK [OL 5*0 HYL IV[O SHYNLY [OHU ^OLU JHSJ\SH[LK VU H WYVWVY[PVUH[L IHZPZ ;OPZ KPMMLYLUJL VM PZ [OL NVVK^PSS H[[YPI\[HISL [V [OL 5*0 0U [OLZL L_HTWSLZ NVVK^PSS PZ ZHPK [V IL H WYLTP\T HYPZPUN VU HJX\PZP[PVU :\JO NVVK^PSS PZ WVZP [P]L NVVK^PSS HUK HJJV\U[LK MVY HZ HU PU[HUNPISL HZZL[ PU [OL NYV\W HJJV\U[Z HUK Z\IQLJ[ [V HU HUU\HS PTWHPYTLU[ YL]PL^

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Technical

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Gross goodwill and the impairment review

WVZZPISL [V HZJLY[HPU H YLJV]LYHISL HTV\U[

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HUK SVZZLZ

Consider an impairment review of gross goodwill ([ [OL `LHY LUK HU PTWHPYTLU[ YL]PL^ PZ ILPUN JVUK\J[LK VU 7SH[L ^OLU [OL YLJV]LYHISL HTV\U[ VM [OL Z\IZPKPHY`

Required +L[LYTPUL [OL V\[JVTL VM [OL PTWHPYTLU[ YL]PL^

Solution ;OL PTWHPYTLU[ YL]PL^ VM NVVK^PSS PZ YLHSS` [OL PTWHPYTLU[ YL]PL^ VM [OL UL[ HZZL[Z Z\IZPKPHY` HUK P[Z» NVVK^PSS HZ [VNL[OLY [OL` MVYT H JHZO NLULYH[PUN \UP[ MVY ^OPJO P[ PZ

9LJV]LYHISL HTV\U[ 0TWHPYTLU[ SVZZ

;OL PTWHPYTLU[ SVZZ ^PSS IL HW WSPLK [V ^YP[L KV^U [OL NVVK^PSS ZV [OH[ [OL PU[HUNPISL HZZL[ VM NVVK^PSS [OH[ ^PSS HWWLHY VU [OL NYV\W Z[H[LTLU[ VM ÄUHUJPHS WVZP [PVU ^PSS IL 0U [OL LX\P[` VM [OL NYV\W Z[H[L TLU[ VM ÄUHUJPHS WVZP[PVU [OL HJ J\T\SH[LK WYVÄ[Z ^PSS IL YLK\JLK I` [OL WHYLU[»Z ZOHYL VM [OL PTWHPY TLU[ SVZZ VU [OL NYVZZ NVVK^PSS P L _ 0U [OL LX\P[` VM [OL NYV\W Z[H[L TLU[ VM ÄUHUJPHS WVZP[PVU [OL 5*0 ^PSS IL YLK\JLK I` [OL 5*0»Z ZOHYL

VM [OL PTWHPYTLU[ SVZZ VU [OL NYVZZ NVVK^PSS P L _ ;OL 5*0 [OH[ ^PSS HWWLHY VU [OL NYV\W Z[H[LTLU[ ÄUHUJPHS WVZP[PVU ^PSS UV^ IL VUS` 0U [OL PUJVTL Z[H[LTLU[ [OL PTWHPYTLU[ SVZZ VM ^PSS IL JOHYNLK HZ HU L_[YH VWLYH[PUN L_WLUZL (Z [OL PTWHPYTLU[ SVZZ YLSH[LZ [V [OL NYVZZ NVVK^PSS VM [OL Z\IZPKPHY` ZV P[ ^PSS YLK\JL [OL WYVÄ[Z MVY [OL `LHY H[[YPI\[HISL [V [OL 5*0 I` _

Further studies -\Y[OLY PUMVYTH[PVU VU NYV\W HJJV\U[Z PZ JVU[HPULK PU ;VT *SLUKVU»Z IVVR “A students guide to group accounts” published by Kaplan. ;OPZ PU]HS\HISL Z[\K` HPK PZ H]HPS HISL MYVT www.amazon.co.uk HUK www.amazon.com

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Technical

Book Review

HJJV\U[HUJ` KLNYLLZ \W [V THZ[LYZ SL]LS 0[ PZ ^YP[[LU PU H YLSH_LK I\[ H\[OVYP[H[P]L Z[`SL ( NSVZZHY` WYV ]PKLZ HZZPZ[HUJL ^P[O \UKLYZ[HUKPUN HU` \UMHTPSPHY [LYTZ

This is no dry textbook – through the use of colour – mind maps and diagrams – proformas and technical corners –as well as worked examples all go to ensure that even the most technical areas of group accounting actually become understandable

+V`PU (NVYV H Z[\KLU[ \ZLK [OL IVVR [V Z[\K` MVY OLY (**(» 7YVMLZ ZPVUHS L_HTPUH[PVUZ :OL H[[YPI\[LZ OLY Z\JJLZZ PU HJOPL]PUN OLY KYLHT VM WHZZPUN OLY L_HTPUH[PVUZ [V [OL IVVR :OL ^YP[LZ ¸;OL IVVR PZ ]LY` KL[HPSLK LHZ` HUK ZPTWSL [V \UKLYZ[HUK OPNO X\HSP[` WHWLY HUK WYPU[PUN WYVK\J[PVU HUK Z[\KLU[ MYPLUKS` ILJH\ZL P[ PZ JVSV\YM\S HUK KVLZ UV[ THRL TL NL[ IVYLK ^OPSL YLHKPUN P[ P[ PZ HSZV KPMMLYLU[ MYVT V[OLY [L_[IVVRZ ILJH\ZL P[ OHZ H SV[ VM ^VYRPUNZ HUK ZVS\[PVUZ PU P[ ^OPJO HYL ZPTWSL [V \UKLYZ[HUK HUK P[ ZOV^Z HSS [OL Z[LW I` Z[LW N\PKL [V [HRL PU VYKLY [V HYYP]L H[ [OL ÄUHS HUZ^LY ¹

;OPZ IVVR HZZ\TLZ UV WYPVY RUV^SLKNL VM NYV\W HJJV\U[PUN 0[ L_WSHPUZ HUK ZOV^Z `V\ OV^ [V WYLWHYL NYV\W HJJV\U[Z MYVT [OL ZPTWSLZ[ L_HTWSL [V HJJV\U[ PUN MVY MHPY ]HS\LZ HUK HZZVJPH[LZ HUK HSS [OL ^H` [V HJJV\U[PUN MVY JVTWSL_ NYV\W Z[Y\J[\YLZ KPZWVZHSZ HUK MVYLPNU J\YYLUJ` Z\IZPKPHYPLZ ;OPZ TLHUZ [OH[ P[ PZ Z\P[HISL MVY Z[\KLU[Z Z[\K`PUN HU` HJJV\U[HUJ` WYVMLZZPVUHS L_HTPUH[PVUZ HZ ^LSS HZ

;OL IVVR PZ JVTWYLOLUZP]L HUK \W [V KH[L PU HU HYLH ^OLYL [OLYL OH]L ILLU ZVTL YLJLU[ HUK YHKPJHS JOHUNLZ MVSSV^PUN [OL YL]PZPVUZ [V IV[O 0-9: )\ZPULZZ *VTIPUH[PVUZ HUK 0(: *VUZVSPKH[LK HUK :LWHYH[L -PUHUJPHS :[H[LTLU[Z PU 1HU\HY` LMMLJ[P]L MYVT 1\S` ;OL WYVMV\UK LMMLJ[ [OH[ [OLZL VUJL PU H NLULYH[PVU YL]P ZPVUZ OH]L THKL PU JOHUNPUN [OL ^H` [OH[ HSS NYV\W HJJV\U[Z HYL WYLWHYLK \ZPUN 0U[LYUH[PVUHS -PUHUJPHS 9LWVY[

A Student’s Guide to Group Accounts by Tom Clendon This book, published by Kaplan was written to help students pass their accountancy exams!

PUN :[HUKHYKZ HYL M\SS` YLÃ…LJ[LK HUK PU[LNYH[LK PU [OPZ IVVR ;OPZ IVVR PZ KLZPNULK HZ H Z[\K` HPK [V IL YLHK MYVT ILNPUUPUN [V LUK ,HJO JOHW[LY Z[HY[Z ^P[O H ¸>OH[»Z UL^¹ ZLJ[PVU ILMVYL NVPUN [V ^HSR `V\ [OYV\NO H ^VYRLK ¸,_HTWSL¹ ¸;LJOUPJHS *VYULYZ¹ WYV]PKL H KPZJ\ZZPVU HUHS`ZPZ HUK ZVTL[PTLZ L_HTWSLZ VM [OL [OLVYL[PJHS HYLHZ [OH[ ZVTL Z[\KLU[Z JHU ÄUK JOHS SLUNPUN -VY L_HTWSL VU WYV]PZPVU MVY \UYLHSPZLK WYVÄ[Z ^P[O [YHUZHJ [PVUZ ^P[O HZZVJPH[LZ HUK YL]LYZL HJX\PZP[PVUZ ,HJO JOHW[LY HSZV JVU [HPUZ ¸4PUK 4HWZ¹ HUK H ¸+V\ISL ,U[Y` :LJ[PVU¹ [OH[ ^PSS YLPUMVYJL `V\Y \UKLYZ[HUKPUN ,ZZLU[PHS [V `V\Y \UKLYZ[HUKPUN VM NYV\W HJ JV\U[Z PZ OH]PUN [OL VWWVY[\UP[` [V WYHJ[PZL ^OH[ `V\ OH]L Q\Z[ SLHYU[ ZV LHJO JOHW[LY JVU[HPUZ WYHJ[PJL ¸8\LZ[PVUZ¹ ^P[O JVTWYLOLUZP]L LHZ` [V MVSSV^ HUZ^LYZ H[ [OL IHJR VM [OL IVVR ;OL JOHW[LYZ HYL VYKLYLK PU H SVNP JHS ZLX\LUJL HUK NYV\WLK [VNL[OLY PU JVSV\Y JVKLK ZLJ[PVUZ ,HJO ZLJ[PVU OHZ H ¸9LJHW *OHW[LY¹ [V JVUZVSPKH[L [OL RL` TLZZHNLZ SLHYU[ HZ ^LSS HZ \ZLM\S WYVMVYTHZ ;OLZL YLJHW JOHW[LYZ ^PSS WYV]L PU]HS\HISL YL]PZPVU HPKZ

About the author Tom Clendon ;VT *SLUKVU [YHPULK ^P[O 274. PU ,UNSHUK HUK X\HSPÄLK HZ H JLY[PÄLK HJJV\U[HU[ -**( PU /L OHZ LUQV`LK ^VYRPUN HZ H SLJ[\YLY WYLWHYPUN Z[\KLU[Z MVY [OLPY WYVMLZZPVUHS L_HTPUH[PVUZ HSS V]LY [OL ^VYSK PUJS\KPUN *OPUH 7HRPZ[HU :PUNHWVYL *`WY\Z 1HTHPJH 2LU`H 4HSH^P AHTIPH HUK *YVH[PH /PZ HY[PJSLZ HYL YLN\SHYS` W\ISPZOLK PU [OL HJJV\U[HUJ` WYLZZ 0U OL ^HZ H^HYKLK ;\[VY VM [OL @LHY I` H YLW\[HISL <2 4HNHaPUL The book is on sale at www.amazon.com and www.amazon.co.uk

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CSR & Ethics

International Integrated Reporting Committee (IIRC)

The Prince’s Accounting for Sustainability Project (A4S) and the Global Reporting Initiative (GRI) announced on Monday 2nd August 2010 the formation of the International Integrated Reporting Committee (IIRC). ;OL ^VYSK OHZ UL]LY MHJLK NYLH[LY JOHSSLUNLZ! V]LY JVUZ\TW[PVU VM ÄUP[L UH[\YHS YLZV\YJLZ JSPTH[L JOHUNL HUK [OL ULLK [V WYV]PKL JSLHU ^H[LY MVVK HUK H IL[[LY Z[HUKHYK VM SP]PUN MVY H NYV^PUN NSVIHS WVW\SH[PVU +LJPZPVUZ [HRLU PU [HJRSPUN [OLZL PZZ\LZ ULLK [V IL IHZLK VU JSLHY HUK JVTWYLOLUZP]L PUMVYTH[PVU I\[ HZ ;OL 7YPUJL VM >HSLZ OHZ ZHPK ^L HYL H[ WYLZLU[ ¸IH[[SPUN [V TLL[ Z[ JLU[\Y` JOHSSLUNLZ ^P[O H[ ILZ[ [O JLU[\Y` KLJPZPVU THRPUN HUK YLWVY[PUN Z`Z[LTZ ¹ ;OL 009*»Z YLTP[ PZ [V JYLH[L H NSVIHSS` HJJLW[LK MYHTL^VYR MVY HJJV\U[PUN MVY Z\Z[HPUHIPSP[`! H MYHTL^VYR ^OPJO IYPUNZ [VNL[OLY ÄUHUJPHS LU]PYVU TLU[HS ZVJPHS HUK NV]LYUHUJL PUMVYTH[PVU PU H JSLHY JVUJPZL JVUZPZ [LU[ HUK JVTWHYHISL MVYTH[ W\[ IYPLÅ` PU HU ¸PU[LNYH[LK¹ MVYTH[ ;OL PU[LU[PVU PZ [V OLSW ^P[O [OL KL]LSVWTLU[ VM TVYL JVTWYLOLUZP]L HUK JVTWYLOLUZPISL PUMVYTH[PVU HIV\[ HU VYNHUPaH[PVU»Z [V[HS WLYMVYTHUJL WYVZWLJ[P]L HZ ^LSS HZ YL[YVZWLJ[P]L [V TLL[ [OL ULLKZ VM [OL LTLYNPUN TVYL Z\Z[HPUHISL NSVIHS LJVUVTPJ TVKLS

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What is integrated reporting ? ;OL V]LY JVUZ\TW[PVU VM ÄUP[L UH[\YHS YLZV\YJLZ JV\WSLK ^P[O [OL

The objectives for an integrated reporting framework are to:

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You can read more at www.integratedreporting.org

27

Overseas Volunteering

Accounting for International Development When Neil Jennings left his job in the City to volunteer in Africa, helping a small Rwandan children’s charity, his goal then was to rebuild FRQ¿GHQFH DQG XQORFN WKH SRWHQWLDO RI ORFDO people. Today, those are also the goals at the heart of his new volunteer services organisation.

community based charities across Africa and Asia. These organisations which include street NLG FHQWUHV KHDOWK FOLQLFV DQG UXUDO VFKRROV DUH GRLQJ DPD]LQJ ZRUN WR WDFNOH H[WUHPH SRYHUW\ and inequality in their communities but are unDEOH WR DFFHVV YLWDO VNLOOV DQG VHUYLFHV

¾:KLOH ZRUNLQJ FORVHO\ ZLWK WKH 5ZDQGDQV LW became apparent that, whilst they’d achieved amazing results with limited resources, the survival of their activities hung desperately in WKH EDODQFH GXH WR D ODFN RI EDVLF ¿QDQFLDO PDQagement experience. With no support available, there was no solution in sight’. I felt compelled to do something.’ Says Jennings

Within a year, AfID has helped place over 75 DFFRXQWDQWV IURP QHZO\ TXDOLÂżHG WR ÂżQDQFH director level, which equates to over 8000 hours RI SUR ERQR ÂżQDQFLDO PDQDJHPHQW FRDFKLQJ DQG consultancy. “We were amazed to see so many accountants willing to give up their time. Many are surprised that accountants are in such high GHPDQG Âą PRVW WKLQN LWÂśV RQO\ WHDFKHUV DQG GRFWRUV ZKR ZRUN RYHUVHDV´ 6DLG -HQQLQJV

Accounting for International Development (AfID) offers accountants the opportunity WR PDNH D JHQXLQH GLIference while gaining amazing hands-on experience in the international development sector. Volunteer assignments between ZHHNV IRUP part of an ongoing strategy to build the ÂżQDQFLDO PDQDJHment capacity and long term sustainability of small

7KH QHHG IRU VNLOOHG DFFRXQWDQWV LV ODUJHO\ GULYHQ E\ D ODFN RI WUDLQLQJ DQG UHVRXUFHV DW D ORFDO level, combined with complex reporting requirements by their overseas funders. “When you are a headmistress, doctor or a priest trying to run a VPDOO 1*2 LW FDQ EH YHU\ GLIÂżFXOW WR NHHS \RXU records up to date and ensure all your donors NQRZ ZKDWÂśV KDSSHQLQJ ZLWK WKHLU PRQH\ ´ -HQnings says. “Most of our placements are generic but their impact is enormous– helping local SHRSOH WR GHYHORS WKH VNLOOV WKH\ QHHG WR FRQWLQXH DQG H[SDQG WKHLU JUHDW ZRUN´ Alan McClean, Group Financial Controller at the 7ULFRUQ *URXS UHFHQWO\ UHWXUQHG IURP D ZHHN assignment in Kenya’s Rift valley, assisting SMART (Sustainable Mobilization of Agricul-

tural Technologies), a small community organisation promoting low cost sustainable farming activities. Sadly the organisation was in real difÂżFXOW\ DV WKHLU SULPDU\ GRQRU D 8. FKDULW\ KDG KDOWHG IXQGLQJ GXH WR D ODFN RI ÂżQDQFLDO FRQWUROV SODFLQJ WKHLU VXUYLYDO DW ULVN Âł0\ RYHUDOO LPSUHVVLRQ ZDV WKDW LW XQGHUWRRN H[FHOOHQW ÂżHOGZRUN DQG WKDW WKH WHDP ZHUH KLJKO\ committed with relevant expertise and a good DSSURDFK 7KH ZHDNQHVV ZDV RQ WKH VLGH RI WKH organisational systems, which were all still in the SURFHVV RI GHYHORSPHQW´ VD\V $ODQ $ NH\ REMHFWLYH RI DQ\ YROXQWHHU DVVLJQPHQW LV WR KHOS UDLVH WKH SURÂżOH RI ORFDO ÂżQDQFH VWDII HQVXULQJ WKH\ KDYH WKH VNLOOV DQG FRQÂżGHQFH WR participate fully in their organisations’ decision PDNLQJ :RUNLQJ FORVHO\ ZLWK 60$57V QHZHVW UHFUXLW ERRNNHHSHU -DFNO\Q $ODQ KHOSHG LQVWDOO D QHZ excel based accounting system and create a more robust revenue/ expenditure model. As a result RI WKHLU KDUG ZRUN WUXVW ZDV UHVWRUHG DQG OLIH VDYLQJ IXQGLQJ TXLFNO\ UHVXPHG Âą $ UHPDUNDEOH

success story considering the relatively short nature of the assignment. But what is there for the volunteer in return? “For the programme to succeed there must be an HTXDO H[FKDQJH RI EHQHÂżWV RXU 1*2 SDUWQHUV JHW WKH VNLOOHG VXSSRUW WKH\ QHHG RXU YROXQWHHUV get an amazing experience and enormous job VDWLVIDFWLRQ´ VD\V -HQQLQJV Âľ9ROXQWHHULQJ IRU VKRUWHU SHULRGV XVLQJ WKHLU DFFRXQWLQJ VNLOOV DQG H[SHULHQFH LV SUHWW\ QHZ EXW GHÂżQLWHO\ RI LQWHUHVW to a surprisingly large number of accountants. It’s a great way to develop vital softer managePHQW VNLOOV )RU PDQ\ RI RXU YROXQWHHUV LW LV DOVR WKH RQO\ ZD\ WR SLFN XS YLWDO H[SHULHQFH LQ WKH LQWHUQDWLRQDO GHYHORSPHQW DQG QRW IRU SURÂżW VHFtors. This is essential as CVs with purely commercial experience are often discarded without proper consideration. ‘But whatever their original motivation for volunteering I guarantee the experience will be something they remember and value for a very long time.’ Say Jennings

For more information about AfID and their volunteering opportunities please visit their website

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“I have learnt that charity comes in all forms and that it’s easy to sit on your couch and throw money at problems, but the real charity comes from participation. I have seen another side of the world, a side where opportunities are not everywhere; choices are limited but the people and their spirit strong. It has taught me to put a greater value on family and community and for heaven’s sake not to sweat the small stuff�

Nicole Singh (ACMA & Volunteer – The MicroLoan Foundation, Namibia)

30

Job Skills

Curriculum Vitae What is a CV? (U LMMLJ[P]L *= PZ UV[ Q\Z[ `V\Y SPML OPZ[VY` P[ PZ HU HK]LY[PZLTLU[ MVY `V\ 0[Z W\YWVZL PZ [V NLULYH[L LUV\NO PU[LYLZ[ MVY [OL LTWSV`LY [V ^HU[ [V [HRL `V\Y HWWSPJH[PVU M\Y[OLY :V P[Z UV[ Q\Z[ H JHZL VM ^YP[PUN \U[PS `V\ YLHJO [OL IV[[VT VM [OL WHNL @V\ ULLK [V Z[VW HUK [OPUR HZ [OPZ TH` IL [OL VUS` JOHUJL [V NL[ [V [OL THYRL[ `V\YZLSM HUK THRL H NVVK PTWYLZZPVU

Questions you need to ask yourself >OH[ HYL [OL X\HSP[PLZ `V\ ^V\SK SPRL HU LTWSV`LY [V RUV^ HIV\[ `V\& 0U V[OLY ^VYKZ ^OH[ HYL `V\Y TVZ[ THYRL[HISL HIPSP[PLZ HUK HJOPL]LTLU[Z& *HU `V\ PKLU[PM` `V\Y \UPX\L ZLSSPUN WVPU[ ZVTL[OPUN [OH[ ^PSS H[[YHJ[ [OL ZLSLJ[VYZ H[[LU [PVU& @V\Y KLNYLL PZ [HRLU MVY NYHU[ LK I\[ `V\ JHU VMMLY L]PKLUJL VM [YHUZMLYHISL VY ¸:VM[¹ ZRPSSZ Z\JO HZ [LHT^VYR SLHKLYZOPW JVTT\UPJH[PVU VY L_WLY[PZL PU ZWLJPHSPZLK HYLHZ& (YL [OLYL V[OLY HYLHZ `V\ ^P[O [V KYH^ [OL LTWSV`LYZ H[[LU[PVU [V& @V\ ^PSS ULLK [V OPNOSPNO[ [OL ZRPSSZ HUK X\HSP [PLZ `V\ OH]L [V VMMLY /V^ JHU `V\ HYYHUNL [OL SH`V\[ VM `V\Y *= [V KYH^ H[ [LU[PVU [V WVPU[Z `V\ ^PZO [OL LTWSV`LY [V UV[PJL& /V^ JHU `V\Y JOVPJL VY ^VYKZ THRL `V\Y *= TVYL WV^LYM\S&

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32

Business English

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Partnerships

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Conglomerate

Sarbanes-Oxley

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3VUKVU 6MĂ„JL! Global Accountant Magazine 2A06, South Bank Technopark 90 London Road London SE1 6LN United Kingdom

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