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Great news coming from the EU  yesterday about The European Commission’s expert group on sustainable finance publishing its final recommendations for a “taxonomy ” of environmentally sustainable activities that public companies can use in disclosure to the global capital markets. This action (creation of an agreed upon disclosure framework) will reduce the hundreds of separate reports companies produce to harness the finance sector for its fight against climate change and make the capital markets more relevant and connected to this growing $30+ trillion sustainability investment market place . Three reports were issued yesterday (June 18, 2019) by the ...
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Setting your company aside from your competitors is easier said than done. However, it is essential if you want to ensure its longevity. Too many great companies have become lost in the crowd and gone belly-up. One of the most vital aspects of a successful business is marketing to: Retain the business of existing customers Generate new customers for the business Even the most exceptional organizations can be jeopardized by inefficient marketing. The best way to stand out from a crowd is to personalize how your company is marketed. Your logo and slogan Your brand is what makes your company different from others. It ...
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Life insurance is rarely at the top of your list of priorities. As you navigate milestones after your education like what to do with that first paycheck, shopping for your first new car, buying your first home, getting married, having children,  it may  seem like insurance won’t be needed for decades or the current financial situation will not allow for insurance.  But just because you’re young and healthy doesn’t mean life insurance isn’t important. You are a business.  Learn to protect your business as you expand your knowledge of how to account for your employer's business. Here are four reasons to consider coverage now. 1. Student loans may create ...
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Attracting  millennials  to your accounting firm is becoming more important as this labor force continues to grow. The problem is this young workforce is different from other generations, meaning that old ways of attracting talent is not going to work.  The following is a simple guide that should help you figure out how to attract millennials to your firm and help keep them there.  Flexibility is Key The regular nine to five work schedule is not always the norm amongst millennials. This schedule is too rigid, and it does not allow for a good life and work  balance , which is pretty important for this group of workers.  You might find it difficult ...
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Interesting debate yesterday before the US Senate Banking Committee on the topic of expanding disclosures of US companies to include environmental, social and governance data besides just financial disclosures. The US House Committee on Financial Services held a hearing on the same topic last week. From testimony before the US Senate Banking Committee: US Senator Sherrod Brown: “SEC should act to require uniform disclosure of corporate ESG factors, said ranking committee member Sherrod Brown, D-Ohio. "Investors know there are many environmental, social, or political risks that could reduce long-term value, but companies are not providing that information," ...
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According to CERES - while almost half of the 600 largest U.S. public companies communicate with investors about environmental, social and governance issues, they could be doing a much better job of it. One “constant refrain” heard from investors is that “if a company is not talking about its sustainability strategy and performance, they may conclude the company does not have a story to tell or, even worse, it’s hiding something.” Ceres offers a set of nine recommendations “to guide companies toward more meaningful and effective investor engagement on ESG issues.” What is the key message?  Don’t “fall into the trap of positioning sustainability as the ...
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Even though it can be very exciting to choose a career path, it’s also quite often an incredibly stressful experience. There are literally thousands of different options, which means that it may take some time for you to determine what you want to do with your career. While some people are only after the money, others want to be passionate about what they do. Nevertheless, if you want to be successful and happy in life you’ll need to choose a job that you will enjoy going to. Here’s how to choose the best job for you. Determine What You Want Many people choose a career just because they’re good at something. However, chances are that you’re good at ...
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In late December, several members of Congress on the US House Financial Services Committee introduced legislation that would exempt cryptocurrencies from US securities laws and provide new regulatory oversight technologies like XBRL to bring transparency and accountability to the blockchain technologies marketplace. Cryptocurrencies are being used in Singapore and Switzerland, who are aggressively growing their blockchain economies through adoption of cryptocurrencies to become thriving global financial centers. This legislation was introduced as an essential first step to keep this growing market alive in the United States.The legislation would require ...
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Great article in Accountancy Age about the January 1, 2020 EU law that requires the more than 6,000 EU-listed companies to report their financial statements using the European Single Electronic Format (ESEF) on the new EU Financial Transparency Gateway. This global digital reporting format requires the use of the XBRL global data format that makes financial reports machine-readable for better data analytics and fraud protection on the new cloud-based data platform across the EU. The IMA is a founding member of the XBRL Consortium. XBRL is required by more than 100 government regulators in more than 70 countries to promote better transparency and accountability ...
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Accounting Interview Tips

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Have you been called for an accounting interview? If yes, then preparing for such an interview will take more than dressing up. There are many considerations to look at if you want to pass an  accounting interview . Here are eight accounting interview tips.  1. Research   Before sending off your application form, ensure you finish researching into the accounting organization you are applying. It is ideal that you refresh your mind prior to the interview and understand the particular business you are hoping to join. For example, if you are interviewing for a role focused on tax, be sure to fully comprehend the objective and function of the tax department ...
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عقدت جمعية المحاسبين الاداريين فرع الرياض بالتعاون مع جامعة الامام ونادي المحاسبة ندوة بعنوان مدى موائمة خريجي المحاسبة والمالية لسوق العمل وهذه الندوة تستهدف الخريجين والتي تم مناقشة واطلاع الطلاب على نشاط الجهات المختلفة هياكلها التنظيمية بالإضافة إلى فهم آلية التحليل المالي لإتخاذ القرارات المناسبة وكيفية التواصل في العمل وعرض المعلومات بالشكل المناسب وكيفية الرقابة على الآداء للشركات والمؤسسات. قدم هذه الدورة الأستاذ فواز محمد الفواز نائب الرئيس التنفيذي لشركة التصنيع الوطنية إحدى الشركات الكبيرة في السوق السعودي والتي تختص في قطاع الصناعة. حقق هذا اللقاء النجاح الكبير وشكر بدوره الأستاذ حسن الباحص رئيس مجلس إدارة الجمعية جامعة الإمام ونادي المحاسبة ...
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One of the great things about an accounting career is the stability, because no matter how big or small a business is - there needs to be accurate and responsible financial reporting and record-keeping involved. No matter where you are in your accounting career, there are always new skills to develop, ideas to explore, and steps to take. Here are some steps that you can take to further your accounting career. Networking These days, every professional should maintain a wide network of contacts to make sure that they are in tune with their industry. The truth is that the right referral can still go a long way. Although we might live in a world ...
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Human capital development is one of the key factors in human development in which the government and the private sector plays a critical role. Policies and systems established by the government and the business community to enable education, trade and socialization help human capital development and prevent marginalization in society and strengthen democracies. The marginal productivity of capital, and the growth rate of the population, technological progress, and depreciation means that human capital is a kind of wealth used to create more wealth. Therefore, one can argue -- that human capital is a key component relevant to the development of an vibrant, ...
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The International Organization of Securities Organizations (IOSCO) issued a press release today stating that securities regulators from growth and emerging markets are seeking public feedback on proposed recommendations related to the development of sustainable finance in capital markets and the role of securities regulators in this area. The question is – will the largest capital markets regulator in the world – the United States Securities and Exchange Commission support the disclosure of sustainability data by public companies and create guidance and suggestions of frameworks that can be used to assist US Investors. Approximately 1 in 5 investment dollars ...
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People with proper accounting skills are highly sought after by various businesses. Passing the CPA exam is far from easy. It requires a lot of discipline, dedication, and hard work. Know that this is both a complex and exciting career path. However, if you want to be successful, you will first need to study hard. Here are some tips that will help you do just that. Practice Daily At a young age, you learn that subjects like math are a lot easier to handle if you practice them daily. The same goes for accounting – having enough discipline to devote a part of your day to practice will go a long way. By  studying every day , you will not only understand ...
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President Trump on January 14, 2019 signed into law the Foundations for Evidence-Based Policymaking (FEBP) Act ( H.R. 4174 ,  S. 2046 ), which includes the  Open, Public, Electronic, and Necessary (OPEN) Government Data Act  (Title II). Strategic Finance Magazine published the following article I wrote on this topic in the February 2019 issue . The Commission on Evidence-Based Policymaking issued this report on the benefits of using smart data and technologies like XBRL to enhance government services. Our very own IMA member and former IMA Chair - The Honorable Kim Wallin served on this commission and came up with recommendations for the US Congress in ...
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ـ ـ عقدت جمعية المحاسبين الإداريين فرع الرياض اجتماعها الثاني للدورة الجديدة 2018-2019 حيث حضر الاجتماع رئيس مجلس الإدارة الأستاذ حسن الباحص وعدد من أعضاء المجلس. خلال الاجتماع تم مناقشة ومتابعة سير خطة العمل للدورة الجديدة 2018-2019 وتحديد آليات التعاون بين أعضاء مجلس الإدارة للارتقاء بالمهنة عن طريق تجهيز المؤتمرات والندوات التي تخدم عمل المؤسسات الحكومية والشركات في القطاع الخاص، وتم الحديث عن المصاعب والتحديات التي تواجه فريق العمل وكيفية تفاديها خلال الدورة الجديدة، وفي نهاية الاجتماع شكر رئيس مجلس الإدارة أعضاء فريق العمل على حضورهم الاجتماع ومناقشة جميع النقاط التي تخدم المهنة في السعودية. ـ ـ IMA Middle East, ...
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The accounting profession - has and will - continue to play a key role in making the capital markets more efficient: driving new innovations and promoting economic prosperity key to supporting democracy and freedom for its participants by reporting and verifying financial and non-financial information for better business decision making. The greater the inclusion -- the greater the economic prosperity. Marginalization of participants in a capital markets environment drains its growth and creates ineffectiveness and promotes instability in a democracy. The accounting function within companies will help organizations gather human capital data and work with ...
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The accounting profession can be stressful, more so when the peak season approaches. However, the multitude of work does not have to be a negative thing. With some preparedness, you can actually thrive and edge closer to that long-awaited promotion. Here are 6 top tips to help you achieve this:  1. Get Ready Early  Communicate with your clients early on to ensure they provide you with all the necessary documentation you will require. This goes for your internal colleagues as well. Having everything ready and in one place will save you the hustle of requesting for them on short notice. It also gives you the continuity to work on projects from start to finish, ...
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