News
US-Korea free trade agreement opens markets, creates new competitors
The US-Korea Free Trade Agreement, which will take effect Thursday, is among the most significant trade agreements for the US in nearly 20 years. US automakers and farmers and South Korean LED lighting, car parts and textile manufacturers are among those expected to benefit from the duty-free exchange of goods.As new iPad debuts, reports shed light on surging mobile market
As Apple unveiled its new iPad to much fanfare last week, recent reports quietly illustrated how quickly the tablet market has grown, how fast mobile data traffic is expected to climb over the next few years – and how many companies consider mobile technologies for employees to be their most important IT investment.Global CFOs brace for turbulent year ahead
CFO optimism remains low worldwide, dampening expectations for 2012 in many countries. CFOs in Europe and the Middle East feel the most pessimistic as they brace for fallout from sovereign debt troubles in the euro zone, social upheaval in the Middle East and dwindling global demand, surveys showed. CFOs in the US, meanwhile, expect some revenue growth.Finance executives’ outlook on US economy improving, survey shows
Optimism for the US economy among CPA financial executives in the United States rose in the first quarter of 2012 over the previous quarter, according to results of the latest “AICPA Business and Industry Economic Outlook Survey”. Despite the improved outlook, though, just 14% of CPA decision-makers said they expect to hire in the short term.The look ahead: US consumer confidence, Europe outlook, and ERM muster
Four upcoming reports will offer glimpses of how much the global economic slowdown and the continued euro-zone debt troubles are affecting economies in EU countries.Finance pros in UK report increasing responsibility for IT decisions
Seventy-seven percent of senior finance professionals participating in a recent survey said they have gained greater responsibility for IT purchasing decisions in the last two years.Good risk management changes corporate culture, boosts earnings
Good risk management goes beyond keeping the company out of trouble, a new study on risk investment levels suggests. Companies that did it best reported three times EBITDA than those that just did basic risk management.COSO explores common judgement traps, lays out five-step decision-making process
Failing to consider opposing points of view and improperly defining problems are two key traps that lead to poor business judgment, according to a new white paper by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).Globalisation risks challenge executives
Increasing competition and slowing growth can turn emerging economies such as China, India and Brazil into risky business environments, according to a new Ernst & Young report on globalisation.The look ahead: Economic progress reports expected from Europe, China and the US
China on Monday is expected to offer an economic forecast for 2012 – an outlook that could be affected by the debt crisis in the EU, which is expected to release gross domestic product (GDP) data on Tuesday. On Thursday, the AICPA releases its first-quarter US “Economic Outlook Survey”. On Friday, the US releases unemployment data.Google+ – what’s in it for management accountants?
It’s been heralded as a major new development in networking and has sparked an increasingly intense rivalry with social media giants Facebook and Twitter. But is Google+ really a step ahead of its rivals?US financial crimes agency postpones mandatory FBAR e-filing
The US Treasury Department’s Financial Crimes Enforcement Network announced that it is postponing until July 1st 2013 its requirement that Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR), be filed electronically.The look ahead: US consumer indicators, Japanese manufacturing, PCAOB meeting
Next week’s economic news agenda includes a handful of reports indicating the mood of US consumers as well as data on Japanese manufacturing nearly one year after the devastating earthquake of March 11, 2011. The PCAOB also will hold a meeting to consider whether to issue for public comment a proposed auditing standard on related parties.Reputation of accounting profession top concern in IFAC global survey
The reputation of the accounting profession continues to be a top concern among those in the field – and the profession needs to present itself better to improve public approval, according to a new global survey.Corporate professionals’ list of risk factors is expanding
A survey of North American corporate financial professionals pinpointed financial risks as the primary driver of earnings uncertainty. Regulatory changes, natural catastrophes and the ups and downs of the economy were also troubling.Google, HP, Microsoft behind surge in tech M&A deals
Big deals by power players Google, Hewlett-Packard and Microsoft contributed to a 41% jump in the total value of technology mergers and acquisitions in 2011, though economic uncertainty slowed activity in the fourth quarter and could do the same in 2012, Ernst & Young says in a recently released report.US business travel could suffer from European debt crisis
The business travel industry, which was forecast to grow during the next two years, is increasingly threatened by the European debt crisis.Employees need help to maximise analytics effectiveness, report says
Employees must be trained to implement data, and data must be made more decipherable and usable for organisations to make the best use of business analytics, a report says.The look ahead: Indicators on US housing and UK industry, US update on IFRS
Data on the US housing picture and British manufacturing top next week’s economic news agenda. Meanwhile, the US Securities and Exchange Commission’s chief accountant will be in London to give an update on the US’s potential adoption of IFRS.
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