Blogs

If you are involved in financial reporting and analysis of large insurance companies, I am sure a day would not pass in the year 2022 without thinking of IFRS 17. IFRS 17 is a comprehensive standard on accounting for insurance contracts – the first time… Read More »

IPSAS 43 Leases Why IPSAS 43? IPSAS 13 requires lessees and lessors to classify leases as either finance or operating leases. This is based on the risks and rewards incidental to the ownership model. Unlike finance leases, operating leases do not require lessees to recognise… Read More »

The Global Growth Institute conducted research with managers across the world to understand what they really think and what organisations are doing right – and wrong. One of the questions asked was: “If you could change one thing about your role as manager, what would… Read More »

International Financial Reporting Standards (IFRS) has become a global accounting language. There are currently over 140 countries that require or permit the use of IFRS for listed companies. What is special about IFRS that more than half the world has adopted the Standards? The answer… Read More »

We at Square Mile Global Consulting recently announced our membership of the CPD Certification Service. The CPD Certification Service is the independent CPD accreditation centre working across all sectors globally. As a member of the CPD Certification Service, we are able to provide CPD UK… Read More »

Cryptocurrencies have become popular in the last few years. There are over 10,000 cryptocurrencies with the global crypto market capitalisation over $2 trillion. A cryptocurrency, such as Bitcoin, Ethereum or Ripple is a form of digital asset. Buyers use money to buy cryptocurrency such as Bitcoin (or a… Read More »

Cryptocurrencies have become popular in the last few years. There are over 10,000 cryptocurrencies with the global crypto market capitalisation over $2 trillion. A cryptocurrency, such as Bitcoin, Ethereum or Ripple is a form of digital asset. Buyers use money to buy cryptocurrency such as Bitcoin (or a… Read More »

As 2020 draws to a close and remote working  continues for most organisations, we cover useful tips that will help financial services leaders to manage their teams with empathy and effectiveness.Online Buddy System Ask members of your team to pair up with someone else and spend… Read More »

Data analytics technology is an aid for businesses to be more cohesive, efficient and informative than before. Businesses will be able to take useful actions when the quality of the collected data is reviewed and the analysis is thorough, precise and accurate. Read our previous… Read More »

Technical skills are a given for finance professionals, whether you work in an accounting or financial services firm, or in industry. It is essential for finance professionals to communicate effectively, drive greater operational efficiency and build critical management. Developing leadership skills to help you, your… Read More »

As we all know, the world has turned upside down in 2020. Who would have imagined, at the outset of the year, the adverse consequences on the businesses of the coronavirus pandemic and global lockdown?We have seen the impact of lockdown on many industries including… Read More »

We are in a world where businesses need to constantly evolve and adapt to meet customer needs to remain competitive. With changing business models and financial needs, it is more important than ever for finance teams to transform and drive value for their organisations. As… Read More »

Data Analysis and Data Analytics are often used as synonyms. These are treated as identical terms and might seem similar but in reality, they hold different meanings.Data Analysis is a process that largely involves collection, inspection, separation, transformation and examination of data. It is about… Read More »

“Data analysis is a process of inspecting, cleansing, transforming and modelling data with the goal of discovering useful information, informing conclusions and supporting decision-making.” Data analysis, in simple terms, means drawing important conclusions after collecting and organising relevant data. The main purpose of data analysis… Read More »

Businesses, irrespective of their size are at a continuous risk of cyberattacks. In particular, organisations and individuals in the financial sector are prominent targets of cyberattacks. Cybercriminals often hack websites, credit card numbers, bank account information and tamper ATMs for customers’ personal identification number. Such… Read More »

In today’s world, our reliance on technology such as computers, internet, wi-fi, bluetooth, smartphones, and other electronic systems and networks is significant. However, the use of technology comes with cybersecurity issues. Why is cybersecurity important? $6 trillion estimated cost of cybercrime in 2021 25,575 average… Read More »

Blockchain is a sophisticated ledger system. The Financial Times defines blockchain as “a shared digital ledger that allows transactions to be recorded and verified electronically over a network of computers without a central ledger. Cryptography is used to protect the data from fraud or hackers”.The… Read More »

In the last few years, blockchain technology has received a lot of media coverage. Here wewill explain the concept of blockchain technology in a simple language. What is Blockchain? Before getting into the technicalities of this technology, let’s first understand themeaning of blockchain. “Blockchain is a database consisting… Read More »

The world has turned topsy-turvy in the last six months. The way we work and manage teams has shifted and changed. Remote working and remote management are new capabilities that we as managers and leaders need to strengthen and build.Wayne Clarke, the Founding Partner of… Read More »

As we all have seen, the world has turned upside down in 2020. The coronavirus pandemic has affected businesses globally. This has an impact on the financial statements prepared under the International Financial Reporting Standards (IFRS). The impact of COVID-19 can be summarised, at a… Read More »

The world has turned upside down in 2020. The coronavirus pandemic has affected businesses globally. As most of the world works from home, the way you lead and manage your teams and organisations is more important than it has ever been. You may have to… Read More »

With the trends facing north for intangible currencies and digital money, efficient fraud tracing has become a primary requirement. In recent times, blockchain has become that efficient method, which can be incorporated with accounting practices. With digitization, we have compromised on privacy on cloud and… Read More »

The key to business success during this unprecedented time is effectively engaging with clients. It is important to spend time and energy on building long-term relationships to push your business forward. Square Mile Global Consulting and the Global Growth Institute recently organised a webinar focusing… Read More »

Financial adherence is primary for any type of organization, irrespective of their industry or geography. It helps the stakeholders and management to analyze and take data driven decisions. With globalization and open markets, the need for standardization of accounting principles was inevitable. The standards that… Read More »

Square Mile Global Consulting is delighted to announce our partnership with the US based Association of International Certified Professional Accountants (Association) to offer new-age accredited online courses in Blockchain, Cybersecurity and Data Analytics. The Association is the most influential body of professional accountants, combining the… Read More »

We often find that technical expertise is a given in any organisation, whether in manufacturing, trading, IT, financial services or professional services (including accounting and law firms). In today’s highly competitive, uncertain environment, what are the key factors that give your team and organisation an… Read More »

Financial training and consulting are at the very heart of the Square Mile Global Consulting team. An integral part of enhancing the skills of finance teams in any organisation is the development of their managers. The Global Growth Institute and Square Mile Global Consulting are… Read More »

The world has turned upside down in the last few weeks with the impact of COVID-19 spreading to businesses and people globally. Who would have imagined this at outset of the decade? Bill Gates said in his 2015-TED talk “If anything kills over 10 million… Read More »

Role of IFRS in safeguarding investor interests IFRS is a global financial reporting language. There are 130+ countries that have either adopted the International Financial Reporting Standards (IFRS) or are in the process of doing so. How does IFRS help companies to safeguard investor interests?… Read More »

IFRS 9 Expected Credit Loss Model IFRS 9 Financial Instruments requires impairment allowance to be recognised based on expected credit losses. What are expected credit losses? Expected credit loss = Exposure at default x Loss given default x Probability of default. The general approach requires… Read More »

“US$ 3.3 trillion of lease commitments.  Over 85% do not appear on the balance sheet” (Based on a sample of 30,000 listed companies using IFRS or US GAAP) Did you know that IFRS 16 Leases effective for periods beginning on or after 1 January 2019 changes… Read More »

International Financial Reporting Standards (IFRS) govern the reporting of accounting transactions and events in financial statements. IFRS has become a global financial reporting language in the last 15 years. We now have 130+ countries that prepare IFRS financial statements for their large companies. 5 Key… Read More »