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,
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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
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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
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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.
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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
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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
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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
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Accounting Standards Oversight Council discusses the activities of the AcSB and PSAB, and related matters. As reported by The Standard. At its meeting in Ottawa on June 9-10, 2016, the Accounting Standards Oversight Council (AcSOC) received presentations on, and discussed, the following: Accounting Standards Board Activities The AcSB’s Academic Advisory Council Update on International Accounting Matters Public Sector Accounting Board
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Read the report for details about the Group’s discussions. As reported by The Standard. IFRS Discussion Group Archived Audio Webcast May 31, 2016 The IFRS Discussion Group is a discussion forum only. The Group’s purpose is to assist the Accounting Standards Board (AcSB) regarding the identification of issues arising on the application of International Financial Reporting Standards (IFRSs) in Canada.
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If we haven’t had that CPA accounting topic before, and we choose your idea; we will award you two tickets to attend and an exclusive meet and greet with the founder of TheGAAP.net (Paul J. Calleri) shortly following the workshop. TheGAAP.net has just presented: Time Management Solutions for Increased Productivity in February and is back by popular demand on April
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