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To promote growth within the treasury profession, the ACT Educational Trust charity offers a bursary scheme to provide financial assistance for students from developing countries who are unable to fund or gain sponsorship for their ACT studies. The deadline for this year’s application is looming, so make sure you complete by Friday 29 April 2016. We’re delighted to share the success of one such inspirational bursary holder based in Botswana, who recently passed CertTF with a distinction and has now already moved onto the Certificate in Treasury. Thato Tshipinare, Accounts Assistant, Outsource IT (PTY) Limited ‘After studying for my degree in Accounting and
A recent decision by the IFRS Interpretations Committee (IFRIC) could potentially have significant implications for notional cash pooling if cash balances are not expected to be physically settled on a net basis at reporting date. IFRIC responded to a specific submission in respect of a cash pooling arrangement where the bank and the group have the legally enforceable right to set off account balances, but regular physical transfers of balances into a single netting account are not performed at the reporting date. IFRIC’s decision noted that the group’s bank account balances would move in the normal course of business between
How have senior roles changed in the last 5 years? It will be no surprise to you I’m sure to hear that the role of the treasurer has changed significantly in the last 5 years. The profile of treasury and the visibility of the treasurer has also grown in the last few years – fuelled by the changes in the economy and the need for greater financial understanding and transparency. Alex Hyde from Brewer Morris kicked off the treasury careers evening for senior members on Thursday, 21 April, by looking at the trends in the current market and changes to
I left you with the rather tantalising question, “what does the future hold for the treasurer?” in my last blog on the drivers of change in treasury, and I will start to attempt to answer this. But let me first cite the highly-respected Oxford philosopher, Robert Roland Smith, who spoke recently on BBC Radio Four. He said he believed that we are about to start a “New Age”. Over centuries, he said, mankind had moved through different ages- First was the Age of superstition, then Age of religion, reason, then most recently the Age of ideas. He predicted that the
As the entire world marks the 400th anniversary of Shakespeare’s death whilst simultaneously gearing itself up for the ACT Annual Conference, our Senior Conference Producer, Julie Scrase, caught up with the man himself to speak beyond the grave about treasury, tech, banking, networking, diversity, cash management, Brexit, Boris Johnson and regulation… JS: Mr Shakespeare, you first attended an ACT event this February when you came along to our Cash Management Conference. What were your thoughts on the networking opportunities and the peers that you met there? WS: O, wonder! How many goodly creatures are there here! How beauteous mankind
Authors: Cassie Sale, Sponsorship Relationship Manager, ACT; Julie Scrase, Senior Conference Producer, ACT You probably know that the ACT runs events. Quite a few of them, as it happens. And that we have a flagship annual conference that is fondly known as ACTAC. Or TTC if you’ve known us for a (very) long time. And the raison d’être for ACTAC? Well, as our good friend and Fellow of the ACT Gary Slawther says, As a professional body it is only right that the ACT has a professionally organised and presented conference, that’s what attracts the quality of attendees, exhibitors and speakers.” We
Back in February when the mornings here in London were cold and dank and the night skies descended upon us at 4:30pm, I shared with you a few thoughts about the importance of staying aware of treasury trends and how the treasurer’s role has evolved over the last 30 years. Now, as we delight in the seasons change and step into spring here in the UK, allow me to explore the drivers of change in treasury. There have been many, and you will no doubt recognise how several of them feed off each other. Indeed, I may have even missed
During the excitement of the post 2008 global financial crisis we became used to outbursts of public debate over debt at a national level. The press delighted in telling us that the Italian government would be borrowing just to pay interest if the rate reached 7%. And then we had the public airing of the Greek debt which has, temporarily, been resolved by issuing more. More recently has been public agonising over Chinese debt problems as commercial businesses fail with musings over the potential consequences for world order. More subtle has been the emergence in the UK of acknowledgement of the