Accounting for the great divide

Article Abstract:

UK divorce law has been changed so that couples seeking a divorce must work out financial arrangements and custody of children prior to being granted a divorce decree. The purpose of the change in the divorce law is to make couples certain of the financial and emotional burdens of divorce and encourage an attempt at reconciliation. The new divorce law will mean that accountants are called into divorce proceedings early in order to provide financial expertise. Accountants should be careful when analyzing accounts and garnering information. Accountants should act with a high degree of integrity for they may be called on to testify in court. Accountants should make themselves familiar with all aspects of divorce law by studying case law pertaining to divorce. Accountants should familiarize themselves with the Matrimonial Causes Act 1973, in particular ss 23, 24, and 24A.

Accounting and auditing, Divorce

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Front-end loading to the rescue?

Article Abstract:

The current educational system for students of accounting in Great Britain overwhelms them with academic subjects which they may or may not use in practice. Students lack training in practical business administration, business common sense, and a commercial orientation. It is suggested that firms hiring new accounting graduates establish training programs to acquaint them with business life, specifically in the hiring firm. This program would last a year, including academic-type exams of a pass-fail nature. If the student quits to work for another firm, a transfer fee system could be set up to compensate the firm left behind.

Supply and demand, Social policy, Accountants

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Do accountants need a cultural revolution?

Article Abstract:

The traditional culture of accounting firms is being undermined by the 1991 recession in the UK and the rise in competitive pressures among accounting firms. The provision of auditing services is no longer the major focus of accounting firms, which are moving toward the provision of value-added services such as corporate finance, consultancy, and taxation to transform themselves into a one stop business consultancy. In addition, accounting firms are adopting a more international outlook. A successful business consultancy is characterized by closeness to clients, innovation, and flexibility.

Management, Economic aspects, Corporate culture

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