Cash flow is an important part of any company’s operations. Insufficient funds can lead to a bad credit rating, penalty and interest expenses, vendors placing our orders on hold etc. It can even lead to the downfall of the company. Not only is not being able to pay bills; embarrassing; but as I said before it could also cripple the
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AASOC is a constantly evolving independent, volunteer body with its finger on the pulse of the ever-changing complexities of Canada’s business community. As reported by The Standard. We are looking for candidates who are passionate about playing a public interest role. Apply by September 9, 2016. About AASOC We are a constantly evolving independent, volunteer body with its finger on
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The topics the Accounting Standards Board (AcSB) plans to discuss, in addition to routine updates, and anticipated actions, if any, are outlined below. Although current at the date prepared (August 29, 2016), this agenda is subject to change. International Financial Reporting Standards Accounting Standards Advisory Forum (ASAF) Gather input from the AcSB on topics to be covered at ASAF’s September
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An agenda covering the topics for discussion is now available. Get more information about the meeting to be held in Saskatoon, including how to attend in person. Date: September 13, 2016 – 9:00 am to 3:00 pm Location: Delta Bessborough Salon Batoche 601 Spadina Crescent East Saskatoon SK S7K 3G8 Public Observation: Complete the Observer Registration Form Read the Guidelines for
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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
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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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Biggest fears of a CPA If you hold the most senior accounting position; it is your responsibility to be on the lookout for factors that affect your financial or management reporting and the business your company is involved in. If you’re not; you should let that person know of any developments that you have discovered. After all this is good
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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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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
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