fun

Session Review – AIFRS and beyond: contentious and emerging issues in accounting standards

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I had the honour of chairing Richard Wanstall’s session today at the Brisbane Convention Centre on the topic of AIFRS. Richard is the lead partner for the Accounting Advisory Services Group for Deloitte, and addressed the following issues in his presentation today:

The agenda addressed included the following:

  • Current changes in financial reporting
  • Impact of new standards in 2008
  • Lessons learnt from June 2008
  • On the horizon
  • Over the horizon

I liked how Richard distinguished between what’s ‘on’ the horizon and what’s ‘over’ it!

Richard did have a lot of references to standards I haven’t looked at in years, so I was not able to follow all of it (my fault, not his!), but it was interesting to hear that the Australian version of IFRS seems to be moving back towards the IFRS Standard (a little, anyway) and that the Australian version is being modified so that we are really ending up with multiple GAAPs depending on the type of entity (e.g. not-for-profits etc).

I must admit that I am also a little concerned to hear that IASB are thinking of extending IFRS to SME’s in some way. I can’t believe that that’s going to reduce compliance costs for anyone. Not, I am sure, that that was the point.

The ‘lessons learned’ part of the presentation detailing key misunderstandings of IFRS was very valuable, as were the ‘on the horizon’ and ‘over the horizon’ sections. I think these last two sections suffered a little as Richard was running out of time. Also they don’t consider the presenters when they go and have economic crises – Richard’s slides were still referencing interest rate increases (which since about last week we now seem to think are off our agenda). In the current environment it seems your slides will be out of date by morning tea!

As for the over-the-horizon issues, I was stunned to hear of potential modifications to lease agreements (bring operating leases onto the balance sheet? Sacrilege!).

As for the overall session, the facilities are excellent as is to be expected at the Brisbane Convention Centre, and the audience was very good. I thought the Chair was a bit ordinary – seemed to think he was funny and forgot to introduce himself (I can say that, as I was the chair!) :).

Richard’s session was very informative and helpful, and Richard clearly knows his stuff. These days, I think I’m doing pretty well if I remember what IASB stands for.

I think the session was hampered by the fact that slides weren’t provided prior to the session (apparently they’re coming), and I think this is particularly helpful if you have a great deal of technical detail to talk to. Something for me to remember next time my sldies are running late.

I do think there was a great deal of information that was provided as a list of changes; I think that as a result of not having slides provided to the audience Richard was compelled to give us an opportunity to absorb the information presented. As a consequence, we didn’t get to hear as much from Richard as to what the implications of the changes actually were – Richard has a lot to add in that space and I think we simply ran out of time.

I liked how Richard was able to answer the only question I could come up with – whether there was an impact on accounting information systems, and Richard was straight onto that one immediately. I hope that made some members of the audience sit up and think about what these AIFRS changes might mean for their accounting systems.

A good session, well worthwhile attending. Richard’s a good presenter and knowing how much time it takes to put those slides together, I know that a lot of work went into preparing for this presentation. Very much appreciated, and I certainly got something out of this very valuable session.

I have some photos of the venue but this computer in the presenter’s room doesn’t have an SD card reader so I’ll add them later. 

Social networking and recruitment of GenY?

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I was asked over at the CPA Congress community:

Are you in the main, referring to Gen-Y/Z recruitment? Is it assumed that social networking sites are less relevant to the GenXers and boomers?

Also, i am of the view that it takes a multitude of factors to retain Gen-Y. Is it even possible to retain the bulk of Gen Y’s for a long stint?

If employers start allowing specific down-time for employees to surf the net etc, does this breed resentment in the workforce that do not utilise social networking websites? I.e. similar to employees that go for their hourly cigarette break.

My response?  The session on Thursday will be touching on recruitment and leveraging social networking sites.  The focus mostly tends to be on GenY, and leveraging with people you know (six degrees of Kevin Bacon if you know what you mean) to get ‘better’ staff. 

I think it is assumed that social networking sites are less relevant to GenXers and boomers.  There is a certain amount of truth to this in that they tend not to use it – but I think particularly LinkedIn does have impact amongst GenXers and some babyboomers.  I am really finding myself drawn to the Twitter community at the moment as it tends to be more active and has less ‘fluff’ and more potential for conversations.  But you can become addicted easily to it.

I understand incidentally that LinkedIn has become very active with people looking for new jobs in the current financial meltdown. 

I’m not an HR expert but those that I know would agree with you definitely that it takes a multitude of factors to retain GenY – just as it does for anyone.  I do ask myself whether you need to hoard every GenY you come across 🙂 – sometimes people moving on is constructive (i.e. functional turnover rather than dysfunctional turnover).  The way it seems to keep GenY is to offer them interesting roles, change and opportunities to learn.  As well as access to Facebook and plenty of money :).  The current economic crisis may change that. 

I might add that such humble approaches work for GenXers too :).  Regarding retaining ‘the bulk’ of GenY  – for some industries it is possible, but I’d ask whether it is actually a positive thing to do (i.e. keep the ‘bulk’ for a long stint).  I think we’ve always had this problem, but ‘churn and burn’ isn’t as effective, as there just aren’t as many GenY’s as there were GenXers when I graduated 17 years ago. 

Regarding specific down-time for employees to surf the net – I imagine it does breed resentment.  So, though, does asking people to work weekends and late nights at the expense of family life and friends – it’s quid pro quo I think on that one.  I wouldn’t advocate specific down-time – a Facebook-break – but I’m pretty old-fashioned. 

I would say that it is probably like getting a personal phone call at work – you don’t worry if it isn’t too much, but if a person spent hours on it to affect their effectiveness, you’d have to pull their horns in. 

Anyone else’s thoughts on this matter?  These are my grab-bag response to this issue – I may have missed something or get something wrong.  It’s been known to happen.

Thanks:  Micheal Axelsen

 

Living with the HP2133 Mini-Note

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I note that Dell has just released its UMPC equivalent, the Dell Mini-9.  Of course, when you see a new release in the market you’ve just bought into (clearly, I bought the HP2133 Mini-Note), you get a case of buyer’s remorse. 

However, from what I can tell the Dell is smaller and of course this is at the case of a crippled keyboard.  When everything I do on the computer – that is serious work, anyway – needs a good keyboard, the keyboard is a deal-breaker for me.  I type at about 120wpm, and I find the Mini-note keyboard to be excellent to type on, without the need to cripple the keyboard (no function keys, no F11, F12, etc). 

The Mini-Note isn’t perfect, of course, but it’s more than livable with.  I also seem to be the only person in the western world so far who is sticking with Vista.  It is livable, and most of my needs aren’t high-level. 

After three months using it now I’d note the following:

  • Machine runs hot.  Really hot.  Unbelievably hot.  Keep the vents ventilated.
  • Battery life is abysmal on the three-cell.  On high-performance, I doubt that I’m getting an hour out of it.  I’ve got my 6-cell battery on order which should keep me on stream for longer and it’s only $A129, so you know, that’s good.
  • Screen glare means that working in full sun is off the menu.  Shouldn’t do that in Australia anyway.
  • Size/form factor is very convenient, and having the disk space is good as well.  A 16GB SSD is all very well and good, but if I do want to do some relatively serious work I like to have my library with me.  I’d be tied to a portable hdd if I did that, which is inconvenient and quickly removes weight advantages.  No problem so far with the HDD over the SSD (famous last words?).
  • Keyboard is great, fantastic, what can I say?
  • Lots of good ports
  • Performance is very adequate, even with Vista (I do have the higher-spec processor and 2GB of RAM – I shudder to think what it would be like on the lower-specification).
  • Sound is excellent but of course that chews power
  • I have tried to run full-size videos on it from time to time and it does glitch up.  But you should keep in mind the purpose of the machine.

It’s very easy to live with. Size and weight are great.  I let it roll around in my messenger bag (a very manly handbag) and that doesn’t seem to have scratched it or anything.  The shell is nice and durable and doesn’t seem to be fingerprint prone. 

I have a full-size laptop for when I want to do a lot of mobile work.  But if I’m going to be wandering all over the city for a day with an hour or two in the middle to fill in (I work at clients from time to time, am studying at UQ, and lecturing at QUT), the HP 2133 mini-note is my favourite to whip out and work with.  In a pinch I could do full size work with the laptop (but you have to watch backpain!  Scourge of the modern world!).

Since I installed Office 2007 (another of Microsoft’s crimes against humanity), I’ve noted that one truly annoying feature of HP’s seem to be the HP Health Check, HP Network Centre, and so on suite of software.  By default, they’re set to use the same really useful keyboard shortcuts that Outlook uses.  I found myself typing ctl+shift+C and expecting to see a new contact, and getting the HP Health Check.

The trick is to go into the program shortcuts on the start menu and remove the shortcut keys assigned to the program there.  Why on earth anyone thought that was a good idea, I don’t know. 

Anyway, no real regrets so far.  The laptop also seems to be the coffee shop equivalent of a Porsche convertible – it does get admiring glances from waitresses at coffee shops who say how ‘cute’ it is.  My only response to that is that it is cute in a Very Manly Way.

This UMPC is dearer but it’s more functional and usable (keyboard for the win!) than certainly the ASUS eee pc and I think than the Dell Mini-9 (haven’t put my hands on one of those yet though).  If you need the convenience, want a laptop that doesn’t feel like a toy, and you could work with all day if you really, really had to, the HP2133 Mini-note wins on the points that matter.

Just buy the 6-cell battery and get asbestos underpants.

A ‘Guest Post’ for CPA Congress

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A little while ago CPA Australia requested that I write a guest post for them for publication on the CPA Congress blog (cpacongress.wordpress.com), with the purpose of promoting my upcoming social networking workshop in Melbourne on social networking.  That post went live on Friday.  You can find the guest post at http://cpacongress.wordpress.com/2008/08/29/online-social-networking/, and I reproduce the post here for posterity, who I am sure will be so grateful they will come down to the retirement home to turn off Wheel of Fortune 2050AD. 

Looking forward to giving the workshop in Octobrer.

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It’s all fun until someone loses an eye. Then – it’s a sport.

In the same way, online social networking started out all in good fun. Somehow, online social networking moved away from the thumbs of tech-savvy Gen Y and into mainstream media. When someone lost their job though because of something they did online that their boss didn’t like, social networking became business. Nowadays it feels like there are tabloid journalists searching Facebook, MySpace and YouTube looking for a new angle and a new career to destroy – but that may perhaps be paranoid. Still, if you’re into muck-raking it’s more effective than going through someone’s wheelie-bin dumpster-diving for dirt – it’s cleaner, there are fewer pizza cartons involved, and it can all be done from the desk with a few mouse-clicks.

People do some silly things on online social networking websites. People also carry out private conversations in public forums. These activities can sometimes affect a business. All too frequently people are afflicted by a lack of common sense when they use online social networking websites like MySpace, YouTube and FaceBook (and at least 126 other social networking websites according to Wikipedia). When common sense flies out the window, the business can pay the price.

Ask the teacher who posted ‘lewd’ photos on Facebook the price of tabloid infamy (what, 12 year-olds don’t Google?). Ask the new owner of a motor dealership who did not know that a previous customer had written an online post advising prospective customers to ‘avoid them like the plague’ – three years on, it’s still there and showing up when new customers Google the dealership. Ask the owner of the store how she feels about the time a customer ‘twittered’ about bad service – before the customer had even left the store, the message was received by 789 of her ‘followers’. Then you could ask the shareholders of a company whose support technician was videoed asleep on a customer’s couch – and then the video posted to YouTube. Of course, that’s just plain funny, but it can’t be helping the brand strategy, can it?

There may also be some regrets for the partner of a consulting firm whose photo was posted online by a member of his staff – complete with his Hitler moustache, swastika, and doing a Nazi salute. Not a good look – but it’s still there, so maybe he doesn’t know about it! Or the married couple, a photograph of whom was uploaded to Photobucket – they were passionately kissing at the office Christmas party. Their main concern was that they were married, yes, just not to each other. I’m sure I don’t need to discuss the ‘Vlog Naked’ campaign. You get the drift.

Some of these firms know that these things have appeared online. Many businesses though do not know. In fact, when it comes to social networking, some businesses are slower on the uptake than a turkey at Thanksgiving.

What can businesses do about their online reputation?

There is hope! Those attending CPA Congress this year have the opportunity to participate in a workshop I am running called ‘Facebook, MySpace, YouTube & Flickr – managing and leveraging the business impact of social networking sites’ on Thursday 16 October. It’s not a great title, but at least it’s descriptive. This is a companion workshop to a forthcoming CPA Australia Information Technology & Management Centre of Excellence publication – a Guide to managing the business challenges that arise from online social networking.

This workshop provides an overview of social networking, discusses practical steps people can take to ensure their personal privacy, and walks through a process that businesses can use to develop policies and procedures that mitigate the negative impact of online social networking. The workshop also provides an insight into some of the potential business applications of online social networking. As a result, attendees at this workshop will be able to respond to the business challenge of social networking according to their requirements, and receive some practical pointers in helping their staff understand what they should and shouldn’t do online.

This workshop also promises to be a bit of fun – honestly, you never knew how much fun you could have with AS/NZS 4360:2004, did you? At the end of the workshop, participants will definitely have a firmer insight into online social networking and how to ensure that this new technology works for the business, not against it. Attending this workshop will equip you with the basic tools to use online social networking safely and to develop a policy approach that will limit the impact of online social networking upon the business.

Micheal Axelsen FCPA is Director of Applied Insight Pty Ltd and provides business systems consulting advice to clients. Micheal will be presenting ‘Facebook, MySpace, YouTube & Flickr – managing and leveraging the business impact of social networking sites’ at CPA Victoria Congress on 16th October 2008.