Cashing in on Harry Potter

Now, you would have thought that accountants have enough bother having to work out how to deal with numerous currencies when compiling accounts for international companies, but then someone goes and starts trying to introduce an imaginary one.

It seems Travelex, not content with the money they make from converting holidaymakers currency to euros, dollars or rand have taken it on themselves to try and work out the value of wizarding money.

It has estimated that the value of a galleon, used in the Harry Potter series of books is worth £5.01 or €7.39, somehow. This, apparently means that kitting out a wizard or witch for their first year at Hogwarts would cost about £1,700, a magic wand is worth £35.08 while a top notch broomstick would set you back £1,503.

TS is on the case to the Big Four to see if they can set us straight on what company accounts would look like under WAS, that’s Wizard Accounting Standards to us muggles.