As this year’s summer of sport reaches a climax at the Paris 2024 Olympic Games, we take a deep dive into the numbers behind the 33rd Olympiad. As events go, there’s none bigger than the Olympic Games. It attracts the most participants, the biggest audiences and, of course, the highest price tag; 20,000 businesses registered to tender for games contracts. Final figures for the Paris Games are yet to be realised, but estimates are that it’ll cost US$9.6bn. We look at how it compares with other Games.
Continuing the sporting theme, the Uefa Euro 2024 football tournament may be over, but the European season kicks off next month. So, how are European teams faring off the pitch? Not bad, according to Deloitte’s annual review. The top European leagues – England’s Premier League, Germany’s Bundesliga, Spain’s LaLiga, Italy’s Serie A and France’s Ligue 1 – continued to proportionately lead the way, contributing €19.6bn (56%). Find out more.
Which brings us neatly to this month’s interview. Exciting times are ahead for football in Wales, says John Young ACCA, CFO of the Football Association of Wales. With the country in training to co-host the next installation of the Euros, Young takes us through his plans for the world’s third-oldest association. Read more.
Talking of team games, one of the secrets to a successful finance transformation lies in good teamwork. When Turkish steel giant Borçelik embarked on a multi-departmental journey to enhance efficiency and collaboration, it felt like the company’s finance function was emerging from its cocoon, according to accounting manager Kağan Sirdar. Read how the dream worked.
In a similar vein, rather than being a threat, generative artificial intelligence (AI) will help to plug the skills gap in financial planning and analysis, according to Michael Lengenfelder. This, though, leads to an important question for FP&A teams: what is our aspiration for AI? The FP&A team should not answer this question in isolation; it is important for the whole organisation to debate and agree its aims. Find the answers.
Moving on from skills gaps, what about financing gaps? Private credit is now stepping into the void, but what are the pros and cons of this emerging alternative source of funding for businesses? Read more.
Finally, the EU has tightened its rules on dirty money. Again. Find out how accountants are now expected to fight money laundering.
