Civica’s Post

As we enter into the New Year the Finance And Accountancy landscape continues to evolve at a rapid pace. In this article, MRK Associates will delve into the top 6 trends we believe will shape the world of finance and accountancy in 2024. Underpinned by a blend of innovation and pragmatism, 2024 promises to reshape the way we understand and practice finance. Reach out for more info or feel free to read more on the link below. https://lnkd.in/eSqXfr3P

A quick shout-out to anyone in my network who works across the personal finance community to remind you that entries to the #pfsawards 2024/25 close two weeks today - Tuesday 9 July. What's it like to win? Watch the video below or listen to our latest podcast at https://lnkd.in/g6Dg_U2N with two 2023/24 winners. View the categories and our top tips to enter at www.pfsawards.org If you've never entered before but are thinking about it - go on, give it a go; you've got nothing to lose and everything to gain. 👍

🤕 New research from Begbies Traynor Group shows the level of UK businesses under ‘significant’ financial distress has jumped by 30.8% to 554,554 in the past year. “Despite some optimism as we entered the new year, 2024 has so far been characterised by a continuation of the same pressures that plagued companies in the UK throughout 2022, explains Julie Palmer, Partner at Begbies Traynor. This situation underscores the urgent need for strategic planning and robust financial management. For business leaders and corporate accountants this is the time to reassess strategies and ensure sustainability. Read Accountancy Age's full report: https://lnkd.in/eM__99SB

With the absence of an equivalent S114 legislative tool in Scotland, how can Scottish CFOs manage an unbalanced budget? CIPFA Senior Policy Manager, Joanne Pitt, explores the options in Local Government Information Unit (LGIU)’s briefing: https://lnkd.in/euNQMU99 Where balancing budgets becomes unfeasible, CIPFA advises engaging in the following: 1. Discussions with stakeholders before taking any action  2. Determining a timeframe for procedures  3. Reflecting on the role of government  4. Devising approaches for post-event actions For further guidance on managing the annual budget process, Scottish CFOs can access: - CIPFA’s role of the CFO in Local Government: https://lnkd.in/ekrnQUuR - CIPFA’s Financial Management Code: https://lnkd.in/eGJSBuWs #ScottishLocalAuthorities #S114inScotland #PublicFinance #PublicSector #budgetplanning

⬇️ Timely publication of a piece of work I was recently involved with, looking at what happens when councils face financial challenge. Following the desktop research, I chaired a series of roundtables with council chief execs, S151 officers, commissioners and sector body representatives. As a politician - albeit one who no longer considers themselves to be ‘front line’ - it’s a new found privilege to be accepted into the confidence of senior officers as they talk about their experiences and concerns. The views expressed were insightful into both the strain senior officers are often under, but also the challenges of professional officers providing advice to elected members. The nature of the political environment means it can be difficult to land tough messages, and indeed establish the continuity of understanding around financial challenge. Whilst it is a retrospective piece, there’s a lot of salient issues in this report and some important learning. A focus on finance remains at the core of the Local Government Association sector-led improvement offer and work such as this will continue to be part of how we shape our support. #leadership #localgovernment

Large private companies continue to favour Wates Principles The Financial Reporting Council has issued its second assessment of the quality of reporting from private companies who have chosen to follow the Wates Principles, introduced in 2018. https://on.ft.com/47AgaYi

Ready to put your accounting and finance basics to the test? 📊💡 Join us for the FMAA pop quiz, to ace those foundational questions and boost your financial know-how! Stay tuned in the comments for the answer later. #FMAA #fundamentalscertification #financetips #finance #accoutning

Ready to put your accounting and finance basics to the test? 📊💡 Join us for the FMAA pop quiz, to ace those foundational questions and boost your financial know-how! Stay tuned in the comments for the answer later. #FMAA #fundamentalscertification #financetips #finance #accoutning

Ready to put your accounting and finance basics to the test? 📊💡 Join us for the FMAA pop quiz, to ace those foundational questions and boost your financial know-how! Stay tuned in the comments for the answer later. #FMAA #fundamentalscertification #financetips #finance #accoutning

Ready to put your accounting and finance basics to the test? 📊💡 Join us for the FMAA pop quiz, to ace those foundational questions and boost your financial know-how! Stay tuned in the comments for the answer later. #FMAA #fundamentalscertification #financetips #finance #accoutning