PQ news
ZOE ROBINSON Risk literacy should be on your CV
If you are studying to become an accountant you are most likely numerate, rational and logical – but are you risk literate? Here is a question to help you find out: can you interpret the data about coronavirus well enough to make an informed decision? At the time of writing, the government had announced that the ‘R’ number was between 1.0 and 1.2 in the UK for the first time since March. To be risk literate you don’t need to calculate R, but you should understand that it means 10 people with Covid-19 will go on to infect between 10 and 12 others. However, to make an informed decision you need to put this in context. For example, the figures are averages for the UK, and the infection rate in your area might be considerably higher or lower. What is the trend, is it increasing or decreasing? And if it’s increasing by 20% is that a lot? Hopefully you get the idea. The data only tells you so much; to make practical decisions about the risks involved you should ask questions and understand the importance of relative measures; what is this risk compared to something else? This is an area in which finance professionals excel; these skills are essential to understanding and interpreting numbers correctly. Perhaps we should be shouting more about our expertise. Not only can we add up, but we might also be able to advise as to whether it’s a good idea to meet up with friends tonight. Zoe Robinson is Learning and Programmes Director at Kaplan Financial
CIMA students rise to new challenges The CIMA case study May 2020 results are out and they are ‘looking good’. The operational case study pass rate held steady at 57%. Success at the management case rose to 67%, and the strategic case jumped to an even healthier 69%. CIMA’s examination VP, Stephen Flatman (pictured), said he has been humbled by the way students
have risen to the challenges facing them. “I have been really impressed with the way our students have reacted in lockdown,” he said. There are record numbers of students now planning for the MSC August sitting. CIMA CASE STUDY – PASS RATES The new May 20 Feb 20 Nov 19 Aug 19 syllabus pass 55% 68% 46% rates for the OTs are also Operational 57% Management 67% 49% 66% 64% out, covering the sitting 69% 59% 64% 64% between 1 January 2020 Strategic
Graduate job adverts fall by 60% The number of graduate jobs being advertised has fallen 60.3% compared with the same period in 2019, with industries such as marketing, construction and recruitment experiencing even larger drops. Research by CV-Library found that university leavers also appear to be giving up on their job hunt, as searchers for these roles have dropped by 8.4% yearon-year. Analysis shows that the average salary for graduate jobs currently sits at £24,626 per annum, 7.1% higher than a year ago. Alongside this, the study found certain industries are paying above-average wages for graduate positions including the public sector (£34,000); IT (£27,290); accounting/finance (£27,074); media (£26,958); and sales (£26,002).
Average graduate salaries were also highest in London (£27,259), with Newcastle on £27,250, Edinburgh on £24,857, and Manchester coming in at £24,740.
Use scratch pads ‘minimally’ ACCA students sitting CBEs have been reminded that nothing on the scratch pad gets marked, so you should use it ‘minimally’. Aileen Edgar, an ACCA exam coach, recently led a webinar for ACCA ATX tutors and she stressed when it comes to the scratch pad it is best to use it for planning your
CEOs signal shift to home-office models UK towns and cities will undergo an inevitable transformation as a result of Covid-19, with 68% of UK CEOs believing there will be an enduring shift towards low density office usage and 35% expecting a similar move towards deurbanisation, according to PwC’s latest survey. The CEO Pulse survey results suggest that the consequences of home working are starting to fundamentally filter into long-term thinking about existing office accommodation models, says PwC’s Simon Hampton. He explained: “Prior to the pandemic, we were already noticing a significant shift in the way people 10
and 31 July 2020. And here they are: E1 81%; E2 90%; E3 76%; F1 77%; F2 59%; F3 57%; P1 52%; P2 53%; P3 55%. Moving forward, the pass rates will be updated on a quarterly basis. Flatman said that students had taken the new syllabus in their stride, and he was proud of his team, who had remotely invigilated exams up and running just seven weeks after the lockdown was announced. • You can read our full interview with Flatman on page 17.
answers and noting down key points you are not sure about. Edgar said the practise platform, available for learning providers and students, should be an essential part of preparing for ACCA CBEs. Other key points are: • Copy and paste the requirements into the word processor respond
choose to consume – physical retail assets versus online, served via logistics warehousing for example – but with lockdown this home delivery trend has swiftly accelerated into food and perishable items with a new, often more elderly, buyer group joining the younger, tech-
space and close down the requirements box to keep your window clutter-free. • Consider using the table function within the word processor option for short calculations rather than jumping between the spreadsheet and the word processor window. • Assign a purpose for each of the four highlighter colours, for example key dates, action words, types of tax, concerns.
savvy generation.” He felt it would be short-sighted of us to think it won’t result in different looking town centres and suburban areas in the future. CEOs are divided about what role cities will play in the future, with a third believing the shift towards de-urbanisation (away from urbanisation) is enduring, with another third believing it is temporary. Conversations with UK CEOs also suggest that a new hybrid model is emerging with work being ‘something people do rather than a place to go to’. The survey shows that one in four CEOs (24%) are already prioritising digital adoption as well as making their workforces more flexible and smaller, a move that will enable them to be leaner and more agile. PQ Magazine October 2020
