The crystal ball and the balance of payments

Article Abstract:

The balance of payments is the most important economic indicator of UK economic performance and health because it has major economic ramifications for the UK economy as a whole. However, the balance of payments is one of the hardest economic indicators to predict. While the balance of payments seemingly should give itself over to double-entry bookkeeping, few entries recorded in official estimates can be accurate to the nearest million, thus introducing uncertainty into forecasts. The evolution of financial markets has also increased errors in the accounts as the flow of capital due to deregulation has led to the increased use of hedging techniques. UK capital markets attempt to forecast the balance of payments to project its ramification on such factors as interest rates in order to make the right investment decisions.

Balance of payments, Economic forecasting

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Where have all the graduates gone?

Article Abstract:

Recruiting and retaining staff will become more difficult for accounting firms because of a dwindling pool of graduates resulting from to a declining birth rate in the UK. The accounting profession will face increased competition for graduates from businesses that do not traditionally recruit graduates. In order to successfully compete, firms will have to improve the awareness of accounting as a career among students and implement initiatives to recruit and retain employees. Firms will have to market themselves to graduates and recruitment and training will become major investments. Large firms are better positioned to face the increased competition for graduates, and smaller firms may experience recruiting difficulties in the near future.

Analysis, Employee recruitment

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Can you second-guess the chancellor?

Article Abstract:

Accountants need to stay informed about the latest tax regulations and laws if they are going to provide current information for clients. Companies of different sizes use different sources for gaining information. Peat Marwick McLintock and Co publishes several reports for their clients including a Budget Commentary that examines the planning implications of proposals and a Preview that examines items that are going to be reviewed by the government. Price Waterhouse and Co concentrates on providing their clients with helpful hints as well as new tax facts. Small accounting firms keep themselves and their clients informed by conducting budget seminars, using desk top references, and attending seminars.

Reports, Accounting and auditing, Price Waterhouse and Co., Peat Marwick McLintock

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