News
US bank executives pessimistic about local, national economic growth
Few US bank executives believe their local economies will improve in the next six months, and they take a dimmer view of the national outlook. A Grant Thornton survey found that 27.5% see an improving local economy, down from 44% who expected improvement in 2011.Accountants sour on US economy as election nears
After rising significantly at the end of 2011 and the beginning of 2012, CPA business leaders’ optimism over the US economy has faded substantially in recent months, according to the latest American Institute of CPAs (AICPA) Business & Industry Economic Outlook Survey.Play the office politics game … and win
Well-intentioned workers who avoid office politics are missing out on opportunities to build relationships that will advance their careers, experts say. But about 40% of workers are sitting on the side lines of office politics – or do not believe office politics are necessary for advancement.Accounting staff in the UK get a slight pay bump
Accounting workers in the UK feel slightly better about their salaries and job satisfaction. A survey of CIMA members shows a slight rise in worker salaries and continuing belief that the CIMA qualification helps members professionally. Overall sentiment about their companies remains lukewarm.The look ahead: Asia-Pacific economies to talk about trade issues, euro-zone crisis
Envoys from 21 countries in Asia and on the Pacific Rim will meet September 8th and September 9th at the Asia-Pacific Economic Cooperation (APEC) 20th economic leaders’ meeting in the far eastern Russian port city Vladivostok.Report: Euro-zone crisis largely to blame for economic slowdown in BRIC economies
After about a decade of outpacing advanced economies, BRIC economies are seeing their growth slow. Deloitte’s most recent global economic outlook largely blames the euro-zone debt crisis but also on domestic challenges in some of the BRICs.Chinese, Japanese firms flex muscles in cautious M&A environment
Companies in China and Japan are taking advantage of the euro zone’s woes and low US asset valuations to find acquisition bargains in developed markets.US standard-setter takes new path in contentious financial instruments project
The US Financial Accounting Standards Board (FASB) is crafting a new expected credit loss impairment model in hopes of moving forward again in the joint accounting for financial instruments project the board is pursuing with the International Accounting Standards Board (IASB).European CFOs’ forecast far gloomier than that of US counterparts
European CFOs possess a far gloomier view of the next 12 months in terms of employment and other economic indicators than their US counterparts. Although US CFOs are keeping a close eye for residual threats from Europe’s woes, they are significantly more confident than European CFOs.The look ahead: Euro zone braces for recession; US job outlook; China manufacturing
With the UK already in a double-dip recession and the euro zone expected to follow suit in the third quarter, financial markets are waiting to see whether Europe’s central banks will extend helping hands.Australian CFOs bullish on economic growth, hiring
Despite worries about the euro-zone crisis and the economic slowdown in China, Australian CFOs remain bullish on economic growth and their companies’ hiring plans.Four ways to guard against lax cybersecurity
Cybercriminals aren’t fooled by your simple passwords. They have found ways to crack the code on company data through public-domain searches, KPMG research shows. One cybersecurity expert offers four tips on keeping up your defences.Resources, growing consumer base make Brazil a target for foreign investment
Brazil is a target for foreign investment, and the South American country figures to continue its rise thanks to a growing middle class and untapped natural resources. Foreign investment in Brazil has tripled since 2007, according to an Ernst & Young report. The nation’s infrastructure improvements in advance of the 2014 World Cup and 2016 Olympics make it an attractive bet for the future as well.UK manufacturing export strategy provides ray of hope in dismal economy
Manufacturing optimism was the lone bright spot in an otherwise grim report on UK business trends. Marketing products outside the euro zone could be an effective strategy for businesses in a dismal economy.How corporate expansion strategies can target emerging-growth powerhouses
Rather than zeroing in on specific countries as they devise a strategy, companies should focus on cities – in particular the 440 cities in emerging markets projected to double the global economic growth rate by 2025.Canadian economic optimism drops based on US, European woes
Canadian accounting executives see problems outside their country as posing the greatest risk for growth inside Canada.Highly scrutinised SEC conflict mineral regs. include new audit requirement
The US Securities and Exchange Commission (SEC) approved disclosure rules designed to increase transparency around companies’ use of so-called “conflict minerals” and payments to governments for access to natural resources.China poised to overtake the US in business travel spending by 2014
Global business travel spending is expected to grow in 2012 and 2013, due in large part to a surge in emerging markets such as Brazil, China, India and Russia. Companies in developed nations, however, are reining in travel budgets as the euro-zone crisis continues.New US auditing standard deems effective communication “integral”
A new US public company auditing standard deems robust, two-way communication between external auditors and audit committees to be essential to high-quality audits. Experts say the standard, which must be approved by the SEC, reflects and codifies the healthy dialogue that has existed between auditors and audit committees for years.
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