Leader - The wrong type of recession
As the leaves begin to fall onto the nation’s railway lines, this is as good a time as any to be embarking on the wrong type of recession.
Like the wrong type of snow, so famously blamed by rail operators for winter train cancellations, the wrong type of recession is something that just should not happen. Around the globe, interest rates are falling and inflation is stable. In classic economic theory this should be the calm before the boom. Instead markets are in freefall and credit is being squeezed.
In the UK many accuse the media of talking up a recession. Flattering the media by overstating its influence is as old as the printing press itself. Far more culpable are the men and women who run the world’s banks and those who speculate on international equity markets. Their herd like instinct, while the economic fundamentals remain strong, is as baffling as it is stupid.
But when the markets lose their heads, accountants have a vital role to play. As the guardians of financial reality they often find themselves prophets without honour in their own organisations. As things get worse this ability to point to the financial facts, irrespective of what the markets may say, is an essential counterbalance.
The generally strong financial facts should speak for themselves. The profession owes it to its own principles to make sure that financial reality is not swamped in a tide of recession panic.
The numbers you crunch tell a story. Your expertis...
26yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleGlobal spend on accountancy outsourcing up by 40% in the space of five years. News comes as accountancy outsourcing specialist AdvanceTrack reports en...
View articleFollowing a profitability review, Deloitte has decided to scale back its UK deals business due to lower returns. This strategic shift could lead to jo...
View articleUK-based Dow Schofield Watts (DSW), a mid-market professional services network, announced the creation of a new division called DSW Principal Partners...
View articleEY has been undergoing significant cost-cutting measures and streamlining its operations since the abandonment of Project Everest. The firm has made t...
View articleTransitioning from an accounting firm to a consultancy model is only one part of the puzzle. The next, equally vital piece is making the market aware ...
View articleThis framework, while providing a top-line view, underscores the importance of strategic vision, operational excellence, and the spirit of continuous ...
View articleLooking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...
View articleLast month it was reported that Deloitte would be cutting approximately 1,200 jobs in the United States, making it the latest of the Big Four accounti...
View article