9 Strategic investment expenditure Digital Transformation 16,611 11,232 Exams Delivery 5,048 5,227 Strategic Efficiency 2,393 2,491 Workplace Transformation 2,873 1,127 Market Adoption 676 2,165 Meet Compliance 99 1,295 Portfolio Management 1,339 5,602 29,039 29,139 Strategic investment expenditure relates to project costs within each category, and once a project has reached completion then any ongoing expenditure is treated as operational. The Digital Transformation programme is transforming core business systems (finance, CRM, data, information management) to modern solutions with the aim of being more commercially agile and better attuned to customers needs. The Exam Delivery programme is developing our exams platform to ensure it remains relevant to our future members. The Strategic Efficiency project was initiated to manage ACCA’s response to Covid-19 and the changes necessary to maintain financial sustainability. The Market Adoption programme ensures that customers are ready to embrace the changes made to the qualification. The previous year’s figures have been restated to take account of the IFRIC Agenda decision issued in April 2021 on the treatment of Software as a Service (solutions. Following the decision, ACCA has assessed that many of the intangible assets which had been previously categorised as intangible assets, no longer met the criteria under IAS 38 and therefore they have been removed as intangible assets and expensed in income and expenditure under strategic investment expenditure.
Association of Chartered Certified Accountants Notes to the Financial Statements for the year ended 31 March 2022 10 Other gains/(losses) Restated 31 Mar 2022 £’000 31 Mar 2021 £’000 Forward currency contracts
