To improve is to change; to be perfect is to change often. (Winston Churchill) If it is not broken why fix it? – Is this practical or a myth? We have all heard about the theory of “survival of the fittest”, which is applicable for humans, animals and businesses. This theory has stood the […]
Laws control the lesser man… Right conduct controls the greater one. Mark Twain The Ancient Egyptians Measurement has been a necessity for many centuries in order to facilitate not only commerce but also everyday life. The ancient Egyptians were amongst the pioneers of this and as early as the 4th and 3rd millennia BC […]
There has been a lot of hype about Cryptocurrencies – about its legitimacy as an alternative currency as well as the merits of holding it as an investment.
Every internal audit function has its own internal audit framework which is Internal Audit Charter (the “Charter”). The Charter outlines the organizational status and role of the internal audit function, independence and governance, etc. However the Charter usually provides high level guidance, and therefore, it is also essential to have a robust Internal Audit Manual […]
When you’re getting ready your tax returns, you want to make sure you prepare your tax returns in such a way that the Canadian Revenue Agency (CRA) doesn’t approach you for a tax audit.
Every organization is formed on some overarching goal & objective, such as building a profitable business by satisfying a need or a not-for-profit organization dedicated toward a charitable focus that guides its actions.
“Life is a series of natural and spontaneous changes. Don’t resist them – that only creates sorrow. Let reality be reality. Let things flow naturally forward in whatever way they like.” Lao Tzu IFRS 9, Financial Instruments The final version of IFRS 9, Financial Instruments, was issued by the International Accounting Standards Board (IASB) in […]
IFRS 15, Revenue from Contracts with Customers was issued in May 2014 and replaces IAS 11 Construction Contracts, IAS 18 Revenue and various interpretations. IFRS 15 establishes a single model of accounting for revenue arising from contracts with customers. IFRS 15 requires entities to recognize revenue reflecting the transfer of goods or services to customers […]
On December 16, 2014, the Government of Canada passed an Extractive Sector Transparency Measures Act (ESTMA) setting out new rules regarding the disclosure of payments to foreign and domestic governments. The purpose is to enhance transparency among participants in the extractive industry as part of Canada’s international commitments to participate in the fight against corruption. […]
On April 10, 1912 the Titanic set sail from Southampton on its maiden voyage bound for New York. The disastrous events that unfolded during that voyage were so significant that children that were not even born at the time have vivid memories of the events and lives that were lost. Unfortunately the sad truth is […]
When a business owner of a small to medium business is searching for best accounting software, he or she is looking for the user-friendly and inexpensive solution. Let’s look at available cloud-based apps that today’s market can suggest us today. QuickBooks Online Overall the best software for business is QuickBooks Online. It starts from $10/monthly, […]
Human beings have a natural tendency to remember good times and push to the back of their minds some more difficult issues in life. Basically most of us have a tendency not to focus on things that are not perceived to be likely to happen in the short term and can overlook the inevitability of […]