Category Archives: Accounting

FYI Article – Annual Improvements: Revised Timing

AcSB Annual Plan – 2015-2016

The Accounting Standards Board (AcSB) heard you! Are you aware that the AcSB revised the timing of the annual improvements process for accounting standards for private enterprises? Here’s an overview of the new process; as reported by the Standard. Timing of the Annual Improvements Process In response to stakeholder feedback, in November 2015 the AcSB agreed to revise the timing

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FYI Article – IFRS 15: The New Revenue Standard – An Extra Year to Get Ready!

IFRS update

January 2016: as reported by The Standard. The New Revenue Standard In September 2015, the International Accounting Standards Board (IASB) deferred the effective date of IFRS 15 Revenue from Contracts with Customers by one year to provide entities with more time for implementation.   The standard is now effective for annual periods beginning on or after January 1, 2018.  Comparatives are required

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Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts

accounting update

IASB Exposure Draft – Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts (Proposed Amendments to IFRS 4) The IASB has issued an Exposure Draft proposing amendments to IFRS 4 Insurance Contracts. Canadian stakeholders are encouraged to submit their comments to the IASB by February 8, 2016. Comment on this document today! TheGAAP.net is holding a: Buy One-Get One Free

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Strategies for Financial Managers to Retain Retiring Baby Boomers’ Skills and Expertise

Strategies for Financial Managers to Retain Retiring Baby Boomers’ Skills and Expertise

Strategies for Financial Managers to Retain Retiring Baby Boomers’ Skills and Expertise Baby boomers may be nearing — and, in some cases, passing — the traditional retirement age, but chief financial officers don’t appear worried about their departures from the workplace, recent Robert Half research suggests. Perhaps surprisingly, given the size of this workplace population, nearly two-thirds of financial executives

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Defining the Gap: The Cybersecurity Governance Study

update

CPA’s Directors Source News goes on to say. This report will help you better understand how board members can bridge the cybersecurity gap as they take a more central role in defining and protecting against cyber attacks and their associated risks. It examines the awareness, attitudes and practices of board members and IT security professionals to better understand how the

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Job Opportunity – Director, Public Sector Accounting

update

Job Opportunity – Director, Public Sector Accounting The Standard reported that: CPA Canada is seeking a Director of Public Sector Accounting. This key leadership position requires both technical acumen and facilitation skills, and will bring together people and ideas, resulting in timely and high-quality standards. Résumés should be submitted by October 30, 2015.   This position is based in Toronto. CPA

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Security – The Top Tech Priority for Accountants

Security - The Top Tech Priority for Accountants

Security is the top tech priority for Canadian and U.S. accountants The North America Top Technology Initiatives Survey ranks the top 10 tech initiatives and professional accountants on both sides of the border agree on the top two. “Preventing security threats such as data breaches and mobile device vulnerabilities remains a top concern for both Canadian and U.S. accountants” and

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IFRS: Management Reports or MD & As…or both?

A short time ago someone asked me if the rumor was true. I asked “What rumor?” He replied, “The one about IFRS forcing public companies to file management reports when they file their financial statements with the Ontario Securities Commission. I thought they had to file Management Discussion and Analysis Reports (MD&A) with their statements. Is there a difference between

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IFRS: So many choices…. How do you decide?

The following is taken from Mike Morley’s latest book “IFRS Simplified” IFRS: So many choices…. How is the accountant supposed to decide? International Financial Reporting Standards employ four key principles as guidelines to making decisions regarding which accounting treatment to apply in a particular situation.   Should the asset be classified as available-for-sale or as available-for-use? Should the value assigned

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For a Successful Enterprise, Cultivate Investor Relations

cultivating investor relations

Although investor and stakeholder relations can’t be measured or calculated on a spreadsheet, their value can significantly impact your company’s bottom line. Your brand’s reputation and success are contingent upon effective relationships with not just clients, but also with others affected by how you do business. In short, healthy stakeholder and investor relations are crucial for running a sustainable enterprise.

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