Saving the planet University

The PQ magazine Test Bank

How well do you know your accountancy concepts? Well, www. pqmagazine.com has a whole test bank of subjects to help you on your way!

Here’s the list of subjects compiled by Professor Phil Dunn. Test yourself to see if you are exam ready: • Accounting Standards. • Shareholders’ Interest and Risk. • Process Costing. • Marginal Cost Break-Even

Analysis. • Investment Appraisal. • Year End and other adjustments. • Limiting Factor Analysis. • Activity Based Costing. • Material Control and Reporting

Director Material Cost. • Disposal of Non-Current Assets.

Just click on the ‘Test Bank’ bar at the top of the home page for another great free resource from PQ magazine.

Climate change accountancy degree

The University of Birmingham has become the first UK university to mainstream climate change into an accountancy and finance degree.

Led by Professor Ian Thomson (pictured), along with Dr Mayya Konovalova and Dr Madlen Sobkowiak, the new vertically integrated BSc degree syllabus was the recent winner of the Birmingham Business School Responsible Business Award.

Professor Ian Thomson said: “Greta Thunberg was correct in what she said in Glasgow. It is an undisputable fact that business cannot carry on as normal if we are to effectively fight climate change and reach the government’s target of net zero carbon emissions by 2050. This means that every student studying accountancy and finance should know how to account for climate change.”

The university believes students embarking on their journey to become accountants can help to future proof their own careers, and the organisations they go to work for thanks to the changes it has brought to its accountancy course.

The integration of climate change into the course has become a major selling point for the degree programme, with prospective students hearing about the updates at offer holders days this year, the first of which was in March.

For more go to https://tinyurl. com/yc3m83mu

ICAEW fine regime questioned

Are the ICAEW benefiting unfairly from the wrongdoing of members of the accountancy profession? That was the question being asked after it banked the £13.5m fine imposed on KPMG following a pension fund scandal.

Some critics asked why the monies have not gone to the Silentnight pension fund, where it has been estimated that scheme members have been cheated out of 30% of their ‘pension promise’.

Martin Jourdan, who now runs Silentnight said: “I find it bizarre if not unnatural justice that the fines are going to the trade association of those involved. It’s not right.”

ICAEW member and Tory MP Nigel Mills agrees, and has asked HM Treasury to act and pressure the ICAEW to use the fine to help those who have lost out.

However, it is being reported that the ICAEW board has considered the matter three times and decided it should keep the cash.

Jo Tuffill – Cost behaviour (newly uploaded) Understanding a business’s cost structure is vital for its success. It is why cost behaviour is the first concept taught in management accounting. Her video runs for just seven-and-a half minutes and explains exactly what a cost is, looking at both variable and fixed costs. Jo has also written an accompanying feature (PQ magazine, April 2022). You can check out her video at: https://vimeo.com/680501310.

Tom Clendon – double entry bookkeeping You should be able to master the rules of double entry bookkeeping in just eight-and-a half minutes. So do you know your credits and debits? You can find Tom’s feature explaining all on page 22 of PQ magazine, July 2020. Check out the video at: https://vimeo. Accountancy can be simple if you know the basics! PQ magazine has gathered together the top tutors in the world to help us help you. Our Back to Basics video series will guide you through some of the fundamental topics of accountancy. Many of the videos even come with an accompanying article! The series includes:

Michele Baker – trial balance In just six short minutes Michele Baker explains how to create the trial balance and why you are doing it. Michele will let you know whether a balance is a credit or debit, and help you get to grips with ‘DEAD CLIC’. She has had over 550 views already. Check out the video at: https://vimeo. com/500074449.

Sunil Bhandari – financial maths This presentation is slanted to ACCA FM and AFM students sitting the CBE exams, but will be useful for any PQs wanting to understand financial maths that bit better. See pages 20-21 of PQ magazine, September 2020, for the accompanying article. Check out the video at: https:// vimeo.com/446780185.

Check out more great Back to Basic videos at www.pqmagazine. com. Either click on the video bar at the top of the home page or scroll down to the video section