CASH MANAGEMENT - The annual cost of cash or settlement discouting

A-Vic

blobbyh wrote: »

Well, that line has been added on since I first read this post. Perhaps Richard you can advise me how I'm able to know in advance if I'm going to like or dislike by a post before I read it? Now if you're asking me not to comment on a thread I dislike, then that's a different issue but if someone's talking bollocks about something, I often feel the need to interject.

For once Glynis, I agree with you. I'd rather trust the comments of Sandy who's been a proven asset to this forum for several years and thus doesn't feel the bullish need to 'prove his worth' rather than that of someone who argues the experiences of others even though they won't qualify their own.

My goodness robert agreeing with gylnis now thats a first

RichardK

Steve Collings wrote: »

Hi Richard

I think when you are offering advice on forums it is best to receive positive and negative feedback. I'm not saying the advice questioning your post is critical advice but as you say there are occasions when two accountants will often differ. I am lecturing to 65 qualified accountants in London on Wednesday and I am expecting (in fact somewhat hoping) some of them will challenge my views because this then allows me to consider everyone's viewpoint. The same principles are involved in offering advice on forums - sometimes people will agree, others will disagree but I don't think you can ask for positive responses all the time because negative ones will often be very valid, as in Sandy Hood's case.

Your post will undoubtedly help other students and the posts challenging the content may also offer food for thought.

Kind regards
Steve

Hi steve,
Thank you for your kind comments. The point I was making was regarding 'constructive' positive advice/ comments. I do not consider SOME negative comments helpful to learning. A good example of a negative comment would be one that 'runs down' someone else.

A negative comment which challenges an opinion "a counter argument" is fine (in my opinion).

Do you agree?

Rowan and I have taken on board all the comments so far including those from Sandy.


I hope this clarifies things.

We have welcomed all constructive comments so far, hence our replies.

The purpose of the post was to encorage constructive negative/positive feedback and discussion.



Thank you again for your comments.

Steve Collings

Hi Richard

No problem. I think negative feedback sometimes can serve to help contributors to understand other people's viewpoint. Some areas of accountancy are particularly subjective and often negative feedback (when I say 'negative' I am referring to posts that may challenge a viewpoint) will help contributors to understand how other people think.

For example my main job is that of an audit and technical compliance manager in a firm of practising accountants. I deal with qualified accountants who prepare financial statements that I am to audit - sometimes there may be a disagreement between myself and the accountant which may not necessarily be dealt with in accounting/auditing standards or legislation and which a judgemental call has to be made. Conclusions are reached through technical interpretations and sometimes I use those challenges when I am lecturing students and qualified accountants - thus I turn what I call a 'negative' response (the client) into a positive (the challenge I face in resolving a disagreement and putting that to an audience in lectures so they can make their own interpretations) so negative posts can be a good way of learning.

I think your contributions could be very helpful to the students - as would the posts challenging their content. I wouldn't view comments which challenge your posts as a negative because this will help you to understand how other people are thinking which will help you as you become an established contributor to these forums.

Kind regards

Steve

RichardK

Steve Collings wrote: »

Hi Richard

No problem. I think negative feedback sometimes can serve to help contributors to understand other people's viewpoint. Some areas of accountancy are particularly subjective and often negative feedback (when I say 'negative' I am referring to posts that may challenge a viewpoint) will help contributors to understand how other people think.

For example my main job is that of an audit and technical compliance manager in a firm of practising accountants. I deal with qualified accountants who prepare financial statements that I am to audit - sometimes there may be a disagreement between myself and the accountant which may not necessarily be dealt with in accounting/auditing standards or legislation and which a judgemental call has to be made. Conclusions are reached through technical interpretations and sometimes I use those challenges when I am lecturing students and qualified accountants - thus I turn what I call a 'negative' response (the client) into a positive (the challenge I face in resolving a disagreement and putting that to an audience in lectures so they can make their own interpretations) so negative posts can be a good way of learning.

I think your contributions could be very helpful to the students - as would the posts challenging their content. I wouldn't view comments which challenge your posts as a negative because this will help you to understand how other people are thinking which will help you as you become an established contributor to these forums.

Kind regards

Steve

Yes, thank you for your comments,

You will have noticed that we have tried to answer the comments we felt were offering a "constructive" contribution, be those negative(constructive) or positive.

Please appreciate we will not reply to insulting or purely argumentative comments.

Regards
Richard

SandyHood

What a lot of discussion!

What needs to be said is a thank you to Richard and Rowan. Thank you.
In their own time they went out of their way to research and produce a well written (and arithmetically correct) article for the benefit of other users of the forum.
Thank you again.

They have also recognised that when AAT ask for annualised percentage rates, the article doesn't completely address it. It does successfully deal with:

1. converting a % discount of a total invoice to a % of the amount payable, and
2. identifying the number of time periods in a year (based on the reduction in credit period)

So, thank you yet again, and please contribute more articles in future. The whole discussion forum benefits from specific postings on points that crop up in skills tests and exams, and as word gets out it brings more people onto the forum to read them.

RowanB

SandyHood wrote: »

What a lot of discussion!

What needs to be said is a thank you to Richard and Rowan. Thank you.
In their own time they went out of their way to research and produce a well written (and arithmetically correct) article for the benefit of other users of the forum.
Thank you again.

They have also recognised that when AAT ask for annualised percentage rates, the article doesn't completely address it. It does successfully deal with:

1. converting a % discount of a total invoice to a % of the amount payable, and
2. identifying the number of time periods in a year (based on the reduction in credit period)

So, thank you yet again, and please contribute more articles in future. The whole discussion forum benefits from specific postings on points that crop up in skills tests and exams, and as word gets out it brings more people onto the forum to read them.

Thanks for the compliments and confirming what I thought. We misused the term 'annualised percentage rate', and didn't offer an explanation of how to find an annualised percentage rate, but otherwise the explanation is sound. As usual, Sandy is right.