Blog Post
Tech Talk with Omar - April 2020 update
May 4, 2020
Is anyone else tired of online quizzes with the family yet?!
Last night Mum arranged for her food shop to be delivered just as the quiz began so I think the feeling is mutual!
Quizzes may be all I have managed to do this month but the Tech World still seems to be buzzing:
- A great briefing has been written by Beauhurst on the effect of Covid-19 on investments. It’s still too early to call whether the VCs will follow the same trend we saw back in 2008.
- Zoom has been criticised for poor security and the robustness of its system. The CEO of the company has apologised and taken full responsibility, promising to get this resolved asap. Criticism however is always an opportunity to refocus and overcome future challenges.
- The current climate has really emphasised how important a role the CFO plays when it comes to crisis management and dealing with liquidity during times of disruption. Cost cutting strategy is one of the most played cards used to keep the business afloat and something we are seeing a lot of at the moment.
- Hiring permanent remote staff may also be on the agenda for many CFOs once the pandemic is over. As a finance partner I always encourage hiring remote staff provided it doesn’t impede your competitive advantage and any risks can be mitigated. Another important
- A really useful article on rolling forecasts which can help businesses meet their targets after the crisis compared to traditional budgets.
- Investors are now more interested in online delivery startups which have inevitably become very popular during Covid-19. US based food delivery company, Cheetah has just closed an impressive $36m Series B round.
- Facebook has grabbed another opportunity during the pandemic by launching their own video chat Rooms and competing directly against Zoom and Google Meet.
- I’m both scared and fascinated by this AI platform, Codota, developed by an Israeli startup - can AI really replace a human developer? Codota, mi’m keeping my eye on you!
Right, now to prepare another 10 questions for tonight’s quiz...sigh!
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In today's rapidly evolving business environment, intangible assets have become central to a company's value and growth potential. Traditional accounting standards, however, have struggled to keep pace with the diverse and complex nature of these assets. Recognising this gap, the International Accounting Standards Board (IASB) and the UK Endorsement Board (UKEB) are embarking on a comprehensive review of IAS 38: Intangible Assets, a standard that has remained largely unchanged for over 26 years.
The UK government has been generous in supporting research and development (R&D) through tax relief schemes. However, with increased scrutiny from HMRC, many businesses are seeing their claims rejected, even after initial approval.
