Breaking free from spreadsheets

Sage has launched Sage Intacct Planning in the UK. Already rolled out across the US, Canada, South Africa and Australia, the cloudbased solution should help UK organisations reduce the need for time-consuming spreadsheets for financial planning and budgeting tasks.

Sage says its Intacct Planning offers a more effective budgeting and planning solution, simplifying complex tasks such as advanced financial modelling and ‘what-if’ scenario analysis.

Features include:

• Integration with Sage Intacct Core Accounting, allowing customers to use their existing General Ledger accounts to manage actuals, budgets and forecasts.

• Intelligent Planning Wizard enables customers using ERP systems other than Sage Intacct Accounting to easily import and map data and dimensions from any ERP or General Ledger system.

• ‘What-if’ scenario modelling enables the evaluation of multiple options and variables simultaneously to confidently choose the best path forward.

• Multi-currency planning and reporting provides seamless collaboration with budget owners in every location.

• Advanced modelling facilitates the building of flexible budgets tailored to the organisation.

• Rolling forecasts make it easy to modify plans and pivot as business conditions change.

EU to regulate crypto trading

The European Union is to launch a crackdown on crypto trading following the collapse of several major players.

Many members of the European Parliament believe crypto trading has become a ‘wild west’ market, and needs to be regulated and licensed.

The new rules should mean crypto assets can be traced, which in turn will help prevent money laundering and other crimes. The traders will also have to come clean about how much energy they are consuming. Cambridge University has estimated that bitcoin alone uses as much energy as Malaysia!

Moving forward, all companies that issue and trade in crypto currencies will have to be registered with a national regulator.

Replacing people with AI is happening IBM has paused hiring for jobs that it thinks AI could do, according to Bloomberg News.

How good is AI?

The so-called ‘Godfather of AI’, Geoffrey Hinton, has quit Google because of concerns he has over the danger of artificial intelligence (AI).

Hinton joined Google 10 years ago and was heavily involved in the early development of AI technology. He told the New York Times recently that the way AI creates text and images will mean most of us will “not be able to know what is true anymore”.

Hinton also ventured that AI is smarter than humans, and he couldn’t see how you can stop “bad actors from using it for bad things”. He even suggested that we should not scale up any more on AI until we understand if we can control it.

Why July, ACCA?

Like many, I’d like to congratulate ACCA on the imminent launch of their Study Hub, a free resource that should ensure every student worldwide has access to up-to-date study manuals and question banks. However, I do find their July release date odd and frustrating. For most ACCA papers, the September sitting marks syllabus updates. Why not release the Study Hub resources when courses for the September sitting are likely to start, rather than part way through the term? Currently, providers will have

The OBU mystery

I was shocked to read that Oxford Brookes University don’t want to work with ACCA on its BSc Applied Accounting degree programme any more.

It doesn’t make sense to me that they are continuing with the OBU Global MBA but not the degree. Does it mean that ACCA are about to announce a new partner, or was there something wrong with the programme? I can’t find a real explanation anywhere. I have just started on my journey to get the degree and now have until 2026 to finish everything, but is it going to be worth it?

Thousands of students have taken this route to get a degree but now I am worried I have made the wrong choice.

Name and email address supplied

Talent crunch is helping

I have to agree with my fellow PQ reader, who last month said a skills shortage is a good thing for us part qualified accountants. I have been at loggerheads with my boss about working from home. He thinks it’s time I was back in the office four days a week and I said it should be three!

I moved out of London during to provide one form of material (and of course update it all for syllabus changes), only for a second source to arrive partway through term. Given the Hub is produced by the ACCA, I imagine many students would want to use it straight away, and changing materials part way through is far from ideal for anyone.

The majority of students sitting in September will start studying in early June, which is only one month earlier than the current planned release date. Given the resource has had such a successful trial why not release it then?

Concerned of Blackwall, by email

Oh what a night! The PQ magazine 20th awards certainly lived up to the hype. We did accountancy Proud! And, you don’t have to take our word for it. Jagruit Patel said: “I must say it was truly remarkable,” and Brigita Petrova agreed: “Another amazing night celebrating talent, hard work and dedication. Thank you for a magnificent show.”

FI’s Nick Craggs added: “To say Graham Hambly knows how to put on a show is an understatement. The venue and entertainment at the 20th PQ awards was amazing.” Andy Murray said: “Such a great event, what an evening!”

Noah Davis explained on LinkedIn that although he didn’t come away with the trophy, just being shortlisted (for NQ of the Year) was a huge win for him. “And it just goes to show that reality can sometimes far exceed your dreams.” He brought his partner who said: “Who knew a night about accountancy could be so fun?” the pandemic and have been able to buy a flat, something I couldn’t have done if I’d stayed in the capital. Immediately I said I may have to look for a job elsewhere he climbed down, and in fact is now trying to actively help me work more productively from home, rather than putting obstacles in the way.

I have also been able to negotiate a pay rise – OK, it’s below the current rate of inflation but still a very healthy jump.

The current jobs market is certainly putting employees in the driving seat.

Name and email address supplied

For Lancaster University’s Adit Kaleka the awards night was a perfect excuse to momentarily eschew exam revision. He said: “What a surreal experience! How awe-inspiring to have been surrounded by and glean wisdom from so many esteemed industry luminaries. I especially loved the ‘Accountants Got Talent’ section, a showcase of some truly breath-taking performances.”

The big problem now is how we top that for our 21st!