Friday, April 29, 2016

Does an FD need to keep a close touch on everything?

A UK based Finance Director once reported that he had realised all was not well when he discovered that the company's BMW was actually in Madrid and being used by a prostitute.

Apparently this led to the FD's realisation that the company was not totally committed to traditional corporate governance.

Friday, April 22, 2016

"Morton's Fork" - the rock and a hard place options for taxpayers

The expression "Morton's Fork" originates from a policy of tax collection devised by John Morton, who was Lord Chancellor of England in 1487, under the rule of King Henry VII.

Morton's approach was that if the subject lived in luxury and had clearly spent a lot of money on himself, he obviously had sufficient income to spare for the king. Alternatively, if the subject lived frugally, and showed no sign of being wealthy, he must have substantial savings and could therefore afford to give it to the king. These arguments were the two prongs of the fork and regardless of whether the subject was rich or poor, he did not have a favourable choice.

The phrase is rarely used these days as there is a more common analogy when someone has a dilemma and has to choose between two equally unpleasant alternatives. We tend to say that they are either "Between the Devil and the Deep Blue Sea" or "Between a rock and a hard place".

Friday, April 15, 2016

Monty Python - The audit

Strangely current despite dating back to pre decimilisation!
NB: Only worth watching through to 1.46. The rest is quite separate.

Friday, April 08, 2016

Fighting off the ladies is half the job

While this t-shirt is self mocking it did make me smile, hence the reason it's on the blog this week.

It's available from TeeSpring.

The journalist, the engineer, the lawyer and the accountant

A businessman was interviewing applicants for the position of Divisional Manager. He devised a simple test to select the most suitable perso...