Yesterday we spoke about “Organizations that just set a budget and do not hit the budget; do so at their own peril”. But what if you painstakingly planned the total Budget for next year, you had everyone participate and agree to the targets and this year the targets are not being met. What do you do? I am sure many
Read more
A budget is a quantitative expression of a goal. One of the greatest tools accountants have to help management achieve their goals is a budget. The Sales Department must achieve the targets that they have committed themselves to. If revenue falls short of expectations and expenses are not reduced accordingly, then losses may occur. Alternatively, if expenses exceed budget targets,
Read more
If you believe this and you have not implemented a Budgeting system for your organization; when are you planning to do so? We accountants are a very busy bunch, however some things have to be done and a budget is one of those things. So much so; that I would say that hiring someone to backfill your position while you
Read more
This article highlights the availability of transitional provisions on initial transition to Sections 1591 and 3056. As reported by The Standard. Are you a private enterprise thinking about preparing consolidated financial statements? The Accounting Standards Board (AcSB) has made this easier for 2016. Section 1591, Subsidiaries, and Section 3056, Interests in Joint Arrangements, are effective for annual periods beginning on
Read more
It is important to retain your staff to ensure your organizations success. This is the staff that is positive, motivated; and work hard and smart to achieve their goals and in turn the company’s. If they are not; is it time to replace them. Organizations cannot become complacent with their employees. Employees are their strength. They should be treated well
Read more
Is the economy keeping you up at night? Are you concerned about the risks to your company? Are you worrying about Cybercrime? As a CPA of our company we have many responsibilities however we always have to be on the lookout for any factors that can affect our financial or managerial reporting and the business we are involved in.
Read more
Whether you’ve started or you’re months away: now is the time to get started. Do you have a job description? if you don’t you could start by doing a search online for any relevant job descriptions. Try getting two or three and consolidate all the different duties. Then review to make sure that all the important duties are there. This
Read more
Keep in mind that while we are reducing absenteeism; we are also reducing turnover, if we are creating conditions that inspire employees to come to work. I am proud to say that am batting nearly 1,000 when it comes to retaining personnel. I can count on one hand how many people have quit their position; while they were working for
Read more
The Committee discussed various issues raised by stakeholders to consider which, if any, should be suggested to the AcSB for inclusion in the 2017 Annual Improvements. As reported by the Standard. The Committee agreed to suggest the following to the AcSB: Item to Be Considered as Part of the 2017 Annual Improvements Foreign Currency Translation – Reversal of Previously Recorded
Read more
Yesterday we spoke about absenteeism costing the Canadian economy billions of dollars every year. When we are working hard trying to make our organizations profitable; absenteeism can be a major blow to our bottom line. Why not control absenteeism in your organization; this may even lead to a competitive advantage over your competitors. Encourage your team to exercise; there are
Read more