Sunday, April 10, 2005

When a Freebie isn't a Freebie

As noted in my earlier post, it seems that the ICAEW Council has decided to spread the word about their merger proposal by sending out free copies of Accountancy in April.

That much would appear to be confirmed via the ICAEW website, see last paragraph of this link from the ICAEW website.

"The draft proposals for consolidation are available on ICAEW and CIPFA websites and have been sent to the members of both Institutes via Accountancy magazine (ICAEW members) and Spreadsheet (CIPFA members)."

However, what is not entirely clear is how much this act of philanthropy has cost us the members.

We can take an educated guess:

-125000 members

-Normal circulation of Accountancy approximately 50000

-That leaves 75000 people to receive a "freebie"

-Approximate unit cost £3.50 (including post and packing)

-Total cost £262K

-Less bulk purchase discount, say 20%, gives us a grand total of £210K

To my view that is a lot of money, just thrown down the drain by our Council.

I have written to both Accountancy, and the ICAEW asking for the exact cost.

Accountancy wrote back saying that they cannot comment, as and when I hear from the ICAEW I will post their response here.

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