Deloitte has stated that Manchester United are better than Liverpool.
Now before anyone starts getting concerned that Deloitte are moving away from finance and becoming football pundits, I should stress that I’m referring to the Deloitte Football Money League.
Deloitte has been compiling the Football Money League since 1996/97 and the League lists the top 20 clubs in the world for revenue in a football season. They have recently released the figures relating to the 2018/19 season and a few records were broken.
The combined revenue for the 20 richest clubs in the world grew by 11% and reached a new high of €9.3bn (£8.2bn).
It’s a Spanish top two for the second consecutive year. This time though the positions are reversed with Barcelona taking top spot and Real Madrid dropping to second place.
In terms of the fortunes of the eight English Premier League clubs in the table, Manchester United remains in third with revenue of €712m.
United’s closest Premier League rivals, Manchester City and Liverpool, generated revenues of €611m and €605m respectively.
The Deloitte Football Money League measures a club’s earnings from match day revenue, broadcast rights and commercial sources, and ranks them on that basis. The study doesn’t include player transfer fees though.
More details on the report can be found here and the top 10 in the league are:
1 Barcelona €841m
2 Real Madrid €757m
3 Manchester United €712m
4 Bayern Munich €660m
5 Paris Saint-Germain €636m
6 Manchester City €611m
7 Liverpool €605m
8 Tottenham Hotspur €521m
9 Chelsea €513m
10 Juventus €460m
https://www.theexpgroup.com/wp-content/uploads/2017/01/football-report.jpg476847Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2020-03-20 00:24:002020-03-20 12:09:43Manchester Utd and Deloitte
Joe Lycett is a British comedian. In fact, I should say that Joe Lycett used to be a comedian because although the person still exists his name doesn’t.
This sounds all very confusing and also, what has it got to do with the leading fashion house, Hugo Boss?
Like most large companies around the world, Hugo Boss defends it’s name when it feels other businesses are using similar names which could cause confusion in the eyes of the consumer.
If for example you decided to set up a clothing brand called “Hugo Bass” I’m pretty sure Hugo Boss would take legal action against you.
Hugo Boss was involved in a high-profile case involving a brewery in Wales called Boss Brewing and in particular two of the beers that it made called Boss Boss and Boss Black.
Hugo Boss took legal action against Boss Brewery but it was held that there was no need for the Brewery to change it’s name.
That was all very well for the Brewery but it cost them a significant amount of money in legal fees to defend the issue in court and for a small business that was challenging.
Joe Lycett wasn’t happy about this and decided to legally change his name as a protest.
His new name is… yes, you guessed it… Hugo Boss.
He tweeted a picture of the official confirmation of his name change and wrote
“So @HUGOBOSS (who turnover approx $2.7 billion a year) have sent cease & desist letters to a number of small businesses & charities who use the word ‘BOSS’ or similar, including a small brewery in Swansea costing them thousands in legal fees and rebranding.
It’s clear that @HUGOBOSS HATES people using their name.
Unfortunately for them this week I legally changed my name by deed poll and I am now officially known as Hugo Boss.
All future statements from me are not from Joe Lycett but from Hugo Boss. Enjoy.”
In what could have been a bit of bad PR for Hugo Boss (the company), they responded well to the new Hugo Boss (formerly Joe Lycett).
They released a statement saying: “We welcome the comedian formerly known as Joe Lycett as a member of the HUGO BOSS family.
As he will know, as a ‘well-known’ trademark (as opposed to a ‘regular’ trademark) HUGO BOSS enjoys increased protection not only against trademarks for similar goods, but also for dissimilar goods across all product categories for our brands and trademarks BOSS and BOSS Black and their associated visual appearance.
Following the application by Boss Brewing to register a trademark similar to our ‘well-known’ trademark, we approached them to prevent potential misunderstanding regarding the brands BOSS and BOSS Black, which were being used to market beer and items of clothing.
Both parties worked constructively to find a solution, which allows Boss Brewing the continued use of its name and all of its products, other than two beers (BOSS BLACK and BOSS BOSS) where a slight change of the name was agreed upon.
As an open-minded company we would like to clarify that we do not oppose the free use of language in any way and we accept the generic term ‘boss’ and its various and frequent uses in different languages.”
https://www.theexpgroup.com/wp-content/uploads/2020/03/Bossbrewery.png6411141Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2020-03-08 13:39:002020-03-11 14:13:11Would the real Hugo Boss please stand up?
I’m not sure where you work or what your office is like but my guess is that it’s not as historic as where you would work if you were successful in applying for this job.
The Royal Family has advertised for a new Management Accountant to look after the “Privy Purse” (the British sovereign’s private income). The job is based at Buckingham Palace.
Candidates for the job need to be qualified and should have “outstanding problem-solving skills”. They will need to produce management information and financial accounts and the advert promises that “no two days will be the same and the deadlines we work to will stretch you. Yet in all that you do, you’ll rise to the challenge and deliver faultless accuracy and a first-class service to this unique organisation”.
It’s not just a solid knowledge of figures that they require as the advert goes on to say that candidates need to demonstrate that they are “as good with people as you are with numbers, which is crucial given the customer focussed nature of this role”.
Now let’s get down to the exciting part and how much are they prepared to pay for this position?
According to leading recruiter Robert Half, the average salary for a Management Accountant in London is currently £58,100.
The salary that is being offered for the Royal job is £40,000.
https://www.theexpgroup.com/wp-content/uploads/2020/03/queens-accountant.png9441678Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2020-02-24 18:04:002020-03-04 21:01:03Fancy working for the Queen?
Over 1 billion consumers are forecast to use cashless payment methods in 2020. Contactless cards and smartphone payments can make payments very easy for an individual and for the retailer it avoids security issues dealing with cash.
A number of shops are moving to “cashless” shops where all the payments have to be made by contactless cards or smartphone apps such as Apple Pay.
Not everyone is happy though as to make a cashless payment you need one important thing.
Namely, a bank account.
Globally, 1.7 billion adults do not have a bank account and whilst you may be thinking that these people without bank accounts are in the emerging markets around the world, that’s not always the case.
New York City, is one of the most famous cities in the world.
According to a recent report by the New York City Department of Consumer and Worker Protection (DCWP), 354,100 households (11.2 percent) have no bank account (unbanked) and another 689,000 households (21.8 percent) have a bank account but use alternative financial products for some banking needs (underbanked).
In other words, 33% of the New York City households are either unbanked or underbanked.
That’s a pretty big proportion and as a result, the New York City Council has voted to require shops and restaurants to accept cash for payments of USD 20 or less.
The law is expected to be in place by the end of 2020.
New York won’t be the first city in the States to ban cashless stores as last year Philadelphia and San Francisco banned them.
Whilst several retail organisations have appeared to be championing cashless shops it’s looking like it won’t be possible in a number of locations around the world.
These organisations may be initially frustrated at being prevented from being cashless but in reality, this isn’t necessarily a bad thing. As well as the ethical debate about refusing to accept people who can only pay in cash, if they did go cashless they would be missing out on a significant part of the population who want to spend their cash, albeit “cash” and not “cashless cash”.
https://www.theexpgroup.com/wp-content/uploads/2020/02/cashless-shopping.png506900Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2020-02-07 17:44:432020-02-07 17:44:44Cashless or cash?
A lot of you may have been on business trips but I bet your trip wasn’t as exciting (and tragic) as this gentlemen’s trip was.
What was also surprising was that his employer was found liable for his death as it was classified as an industrial accident.
The exact cause of death was a cardiac arrest whilst he was having sex with a stranger he had met on the business trip.
Now, whilst having a heart attack during sex with a stranger probably wouldn’t meet most people’s definition of an “industrial accident” a French court found otherwise. The court stated that the employer was responsible for any accident occurring during a business trip and ruled that his family were entitled to compensation.
The man who died on the job, named as Xavier X, was working as an engineer for TSO, a railway services company based near Paris and his employer had perhaps quite reasonably argued that he was not carrying out professional duties when he got into an extra marital relationship with a total stranger in his hotel room.
This opinion though wasn’t accepted by the court and they upheld the view that sexual activity was normal, “like taking a shower or a meal”.
As a result of it being classified as a normal activity on a business trip, the death was considered to be an industrial accident and under French law, partners or children of industrial accident victims receive up to 80 per cent of their salary until what would have been the person’s retirement age, with pension contributions paid from then on.
The Swedish telecommunications group Telefonaktiebolaget LM Ericsson (or Ericsson as most people refer to it as and how my spell checker prefers) is an incredibly successful organisation.
The group provides services, software and infrastructure in information and communications technology.
Oh, and they were also recently fined $1 billion to settle bribery charges.
The company was founded in 1876 by Lars Magnus Ericsson and now employs nearly 100,000 people and operates in around 180 countries.
Not all of these employees were ethical though and Ericsson’s Egyptian subsidiary recently pleaded guilty to conspiracy to violate the anti-bribery provisions of the US’s Foreign Corrupt Practices Act.
This bribery had been taking place for 17 years and was reported to have netted the group business worth more than $400m.
US attorney Geoffrey Berman was quoted as saying “Through slush funds, bribes, gifts, and graft, Ericsson conducted telecom business with the guiding principle that money talks.” He went to say “Today’s guilty plea and surrender of over a billion dollars in combined penalties should communicate clearly to all corporate actors that doing business this way will not be tolerated.”
The bribery took place in a number of countries. It appointed agents and consultants to bribe government officials in Djibouti, China, Vietnam, Indonesia and Kuwait.
One example of the techniques involved was in Kuwait where an Ericsson subsidiary agreed a payment of approximately $450,000 to a “consulting company”.
No consulting actually took place but a fake invoice for the consulting services was issued to Ericsson.
As a result of this payment, inside information about a tender for the modernisation of a state-owned telecommunications company’s radio access network in Kuwait was obtained.
The end result was that the modernisation contract, which was valued at $182m, was awarded to an Ericsson subsidiary. In return Ericsson paid the $450,000 to the consulting company and improperly recorded it in its books as consulting fees rather than as a bribe.
IRS Criminal Investigation head Don Fort was quoted as saying that “Implementing strong compliance systems and internal controls are basic principles that international companies must follow to steer clear of illegal activity. Ericsson’s shortcomings in these areas made it easier for its executives and employees to pay bribes and falsify its books and records. We will continue to pursue cases such as these in order to preserve a global commerce system free of corruption.”
https://www.theexpgroup.com/wp-content/uploads/2019/12/ericsson-bribery.png9441678Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2019-12-09 21:43:002019-12-10 21:45:53Ericsson fined $1 billion for bribery.
One of the five fundamental ethical principles is Integrity.
Being straightforward and honest is a vital characteristic of being a professional accountant.
Most people who are studying for their professional exams have one thing on their mind. Namely, to pass their exams but four students who were studying for their ACCA exams had other things on their minds and at the same time, were not the brightest individuals out there.
What they planned to do was to register for some Computer Based Exams (CBEs) and then whilst sitting the exams they would use their mobile phones to take photos of the computer screen showing the questions. They would then sell these photos with the questions on them via the internet.
The four individuals involved, Chen Yiyun, Hiujiao Ru, Zehui Gong and Ziying Wang decided to sell the questions on Taobao Marketplace, a Chinese shopping website.
They no doubt thought that this was an extremely clever way of making some money. What could possibly go wrong by taking photos of the questions and then selling them online?
One of the other fundamental ethical principles is that of Professional Competence.
Now, if these individuals had even a minuscule amount of Professional Competence, they would have reviewed the photos before selling them.
Alas for them they didn’t review them.
If they had reviewed them, they would have seen at the top of the computer screen in the photos their ACCA student registration number and the exam centre.
ACCA were made aware of the questions being for sale and made a test purchase on the Taobao Marketplace. Given the student registration numbers were on the screen, they didn’t need a team of top detectives to identify the individuals involved.
Unsurprisingly, the four individuals are now ex-students of ACCA having been found guilty of misconduct and they were ordered to pay costs ranging from £3,500 to £7,000.
https://www.theexpgroup.com/wp-content/uploads/2019/11/ACCA-exam-cheating.png9441678Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2019-11-28 22:38:372019-11-28 22:38:38Exams for sale....
The accountants amongst you will be well aware of the different methods of setting the price of a product or service.
Going rate, cost-plus and perceived value are all fairly common but what about basing the price of your service on the size of ocean waves?
This month, Alaska Airlines have segmented the market nicely and are targeting surfers by offering discounts on flights to Hawaii. These discounts are based on the forecast size of the waves which they hope the surfers will soon be surfing.
They have teamed up with surfline.com who forecast the size of the waves and the higher the forecast waves, the higher the discount.
The discounts start off at 10% for waves up to 10ft (3m) and go to a maximum of 30% for waves above 21ft (6.4m)
All in all, a nice way to target surfers
https://www.theexpgroup.com/wp-content/uploads/2019/11/unusual-pricing.png9441678Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2019-11-14 21:12:362019-11-08 21:28:14Wave hello to a discount
Until recently, Steve Easterbrook was the boss of McDonalds. He had been with them for a long time having started working for them back in 1993 as a manager in London.
Mr Easterbrook no doubt had a lot of affection for the
company he ran but it turned out that he also had a lot of affection for a
colleague as he had started dating a lady who also worked for McDonalds.
Although the relationship with his colleague was consensual,
it didn’t go down too well with McDonalds.
According to the company, Mr Easterbrook had “violated company
policy” and shown “poor judgement” (by “poor judgement” I assume that refers to
him having the relationship rather than the choice of who he had the
Now, whilst some people may say that it was a consensual relationship
between two adults so let them get on with it, the key thing here is that it
was against company policy and the two people involved had agreed to the
company policy when they joined the firm so it’s a straight forward case of a
breach of that policy.
More and more companies are having either outright bans on
any relationships or are requiring individuals to disclose any relationships (I’m
not a legal expert here but it does raise some interesting questions as to what
is the definition of a relationship and how quickly after reaching that definition
you need to notify your employer – is it minutes, hours, days…).
Mr Easterbrook won’t be short of funds to carry on wining
and dining his new love as the termination package is pretty significant. He
earned nearly $16m last year and will receive 26 weeks of pay on his departure.
Bloomberg estimate that his total leaving package which includes
previously granted shares will be in excess of $37m.
That should buy a few romantic meals at Burger King for the
two love birds.
https://www.theexpgroup.com/wp-content/uploads/2019/11/McDonalds-boss-1.png9441678Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2019-11-07 22:47:402019-11-29 13:34:10You can't McFlurry Love
Whilst a lot of you won’t admit to being lazy (and I’m sure most of you aren’t in fact lazy!), some of you will know somebody who you feel is lazy.
Is it such a bad thing to be lazy though?
Perhaps not, as according to a study by scientists from Florida Gulf Coast University laziness could correlate with high intelligence.
The study found that people with a high IQ rarely got bored. As a result, they spent more time lost in thought. On the other hand, the study suggested that less intelligent people were more likely to be prone to boredom and consequently were more likely to do more physical activity.
The researchers worked with 2 types of students. The first group expressed a strong desire to think a lot whilst the second group were keen to avoid doing things which were mentally taxing.
The participants were then fitted with fitness trackers which monitored how much they exercised over a 7 day period. The study found that people who thought a lot were much less active than those individuals who avoided high-level thinking. Interestingly, this discrepancy in levels of activity only happened during the week and there was no difference during the weekend.
Before any of the lazy people out there start claiming that they are more intelligent, it’s worth noting that the sample size of the test was small and further tests will be needed to prove the correlation.
https://www.theexpgroup.com/wp-content/uploads/2016/11/lazy-in-the-office.png9441678Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2019-10-30 22:53:222019-10-26 21:21:32Laziness and intelligence.
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