After all the rhetoric of the last few days - on all sides of the water - whether ocean or channel.
Does anyone believe that the Euro is any nearer to being rescued?
Thought not.
Democracy no longer seems important to Europe.
So what or whom does the election fixers/riggers in the rest of the world have to fear?
Sadly no one!!
So easy for them to turn around and point the finger at Europe - which can no longer be consider a democracy! Where everything is being impossed by non-elected technocrates.
Discusses views from the UK both cultural and political. With a distinct interest in software.
12 December 2011
09 December 2011
What now for the Euro?
After yesterday’s summit in Brussels it is obvious that European politicians do NOT have an answer to the troubles of the Euro! Or, if they know the answer, it is not one that they are prepared to endorse. In my limited knowledge of currencies and the problems of the Euro, I believe its problems have to be addressed from 2 directions at the same time
1) impose austerity on the weak economies of the south
2) let the ECB print money to cause inflation and thereby reduce the value of the Euro in international markets
Neither one will work on its own. Both together and it stands a chance of saving the Euro. With this 2 directional approach both weak and strong countries take the pain. What we have at the moment is the imposition of the strong on the weak. With the weak taking all the punishment. (Merkels and Sarkozys attitude to Cameron, reminds one off the school bullies in the playground, not of astute politicians.) If this imbalance continues, then it is a slow drift to the inevitable break up of the Euro and ultimately the EU. For the markets will not relent in pursuing the weaknesses perceived in the Euro and its sovereign debt exposure.
As time ticks by, people in the weaker economies of Europe will become more and more restless and frustrated at the imposed austerity and lack of democracy. Military junta’s are not unknown in these countries. At some point a country will reach the tipping point when it will be less painful to leave the Euro than to remain in it. If the countries elected government doesn’t move at that point, I fear that a strong cabal of military leaders will take matters into their own hands.
When will the politicians of Germany and France ‘face the facts’ and do what everybody else can see and do what is bleeding obvious.
1) impose austerity on the weak economies of the south
2) let the ECB print money to cause inflation and thereby reduce the value of the Euro in international markets
Neither one will work on its own. Both together and it stands a chance of saving the Euro. With this 2 directional approach both weak and strong countries take the pain. What we have at the moment is the imposition of the strong on the weak. With the weak taking all the punishment. (Merkels and Sarkozys attitude to Cameron, reminds one off the school bullies in the playground, not of astute politicians.) If this imbalance continues, then it is a slow drift to the inevitable break up of the Euro and ultimately the EU. For the markets will not relent in pursuing the weaknesses perceived in the Euro and its sovereign debt exposure.
As time ticks by, people in the weaker economies of Europe will become more and more restless and frustrated at the imposed austerity and lack of democracy. Military junta’s are not unknown in these countries. At some point a country will reach the tipping point when it will be less painful to leave the Euro than to remain in it. If the countries elected government doesn’t move at that point, I fear that a strong cabal of military leaders will take matters into their own hands.
When will the politicians of Germany and France ‘face the facts’ and do what everybody else can see and do what is bleeding obvious.
08 December 2011
Demise of the Euro?
With the likelyhood of the breakup of the euro within the next months or even days. What will this mean for your business systems?
What will it mean for your business?
First we need to ascertain what the new currencies will be:
Northern Euro and Southern Euro?
Euro with New Greek drachma and New Italian Lira? May be even a Spainish and Portugese one thrown in.
Who can say at this stage!
What is certain is that new currency codes will be required at short notice along with conversations rates between the new currencies.
Will your business systems be able to cope?
When the Euro was introduced it was a slow process over several years. A breakup, should it come, will be without warning and will have to be accommodated in a few hours.
What you could be doing now - is
a) reducing your exposure to the Euro,
b) converting Euros bank balances into another currency,
c) invoicing in another currency in place of the euro,
d) trying to get suppliers to invoice in another currency,
e) investigating how to handle the new currencies and conversions of any assets and liabilites to new currencies.
Not all of this is possible as it will depend upon your customers and suppliers. Plus, exchange rates being what they are you can never be sure that a loss now want be much bigger if and when the "euro hits the fan"! Or, in fact become a profit due to market uncertainty being removed.
Therefore, I feel businesses need to be thinking about a strategy for all this uncertainty. Remember a risk managed, is far better than a risk ignored!
What will it mean for your business?
First we need to ascertain what the new currencies will be:
Northern Euro and Southern Euro?
Euro with New Greek drachma and New Italian Lira? May be even a Spainish and Portugese one thrown in.
Who can say at this stage!
What is certain is that new currency codes will be required at short notice along with conversations rates between the new currencies.
Will your business systems be able to cope?
When the Euro was introduced it was a slow process over several years. A breakup, should it come, will be without warning and will have to be accommodated in a few hours.
What you could be doing now - is
a) reducing your exposure to the Euro,
b) converting Euros bank balances into another currency,
c) invoicing in another currency in place of the euro,
d) trying to get suppliers to invoice in another currency,
e) investigating how to handle the new currencies and conversions of any assets and liabilites to new currencies.
Not all of this is possible as it will depend upon your customers and suppliers. Plus, exchange rates being what they are you can never be sure that a loss now want be much bigger if and when the "euro hits the fan"! Or, in fact become a profit due to market uncertainty being removed.
Therefore, I feel businesses need to be thinking about a strategy for all this uncertainty. Remember a risk managed, is far better than a risk ignored!
10 June 2011
HTML based Management reports
Most management reports are prepared using the ubiquitous spreadsheet. Primarily because accountants are familiar with the software and it gives flexibilty in layout and computation. Most software packages can download data to a spreadsheet or be SQL queried by them, so starting data for each month can be easily obtained. Then the commentary and insights by the various managers is added. The spreadsheet is then ready for distribution as is, or "printed" to a PDF file for distribution.
Few have considered HTML as a delivery vehicle. Yet for ease of use by a consuming manager it is possibly one of the best. As every PC and mobile device these days can read an HTML page. Not every PC or mobile device has the appropriate software to read a spreadsheet.
The problem with HTML is that "programming" knowledge is required to format a page or series of pages. Plus, how do you get the data into the HTML page?
Considering that the layout of most management reports does not change once established, putting a bit of effort into programming an HTML layout can be cost effective. Provided data can be drawn directly from the accounting and business management system. At RCL our accounting and business software packages provide this ability to draw data out of the system into an HTML document via SQL Select commands and a TableLookup function. What is more that data is not retricted to traditional accounting data; like Balance Sheet and P&L numbers; but can include any element held within the database. Possibles are: stock quantity levels, number of sales orders taken during a period, statistical departmental headcounts and vehicle numbers, even monthly management commentary can be entered, held and reported.
The HTML template document is itself held within the system. The SQL Selects and Table Lookups are evaluated prior to an HTML report being presented in an IE browser.
Having constructed an HTML management report template, the preparation of a "final" monthly report is just a question of awaiting for the monthly data to be complete and the management commentary being entered based upon "early drafts". The "early drafts" like the "final report" are just the HTML being "presented" in a browser. Being held on the system, these HTML reports are visible to all those given access. So "information control" by accountants holding "the cards close to their chests" becomes a thing of the past. As does the man hours consumed is preparing the reports.
Therefore management reports can become much more timely and relevant to the company. The approved final report when "presented" in a browser can be saved to a central server for all to subsequnetly access where ever they are in the world. Access to the underlying system not being required any more.
As my previous blog states, graphs can even be incorporated into a report to accommodate those "numerically challenged" managers that like pretty pictures!
Few have considered HTML as a delivery vehicle. Yet for ease of use by a consuming manager it is possibly one of the best. As every PC and mobile device these days can read an HTML page. Not every PC or mobile device has the appropriate software to read a spreadsheet.
The problem with HTML is that "programming" knowledge is required to format a page or series of pages. Plus, how do you get the data into the HTML page?
Considering that the layout of most management reports does not change once established, putting a bit of effort into programming an HTML layout can be cost effective. Provided data can be drawn directly from the accounting and business management system. At RCL our accounting and business software packages provide this ability to draw data out of the system into an HTML document via SQL Select commands and a TableLookup function. What is more that data is not retricted to traditional accounting data; like Balance Sheet and P&L numbers; but can include any element held within the database. Possibles are: stock quantity levels, number of sales orders taken during a period, statistical departmental headcounts and vehicle numbers, even monthly management commentary can be entered, held and reported.
The HTML template document is itself held within the system. The SQL Selects and Table Lookups are evaluated prior to an HTML report being presented in an IE browser.
Having constructed an HTML management report template, the preparation of a "final" monthly report is just a question of awaiting for the monthly data to be complete and the management commentary being entered based upon "early drafts". The "early drafts" like the "final report" are just the HTML being "presented" in a browser. Being held on the system, these HTML reports are visible to all those given access. So "information control" by accountants holding "the cards close to their chests" becomes a thing of the past. As does the man hours consumed is preparing the reports.
Therefore management reports can become much more timely and relevant to the company. The approved final report when "presented" in a browser can be saved to a central server for all to subsequnetly access where ever they are in the world. Access to the underlying system not being required any more.
As my previous blog states, graphs can even be incorporated into a report to accommodate those "numerically challenged" managers that like pretty pictures!
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