Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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The paper explores the use of accounting standards for insurer solvency assessment in the context of the implementation of IFRS 17. The paper is based on the results of a survey of 20 insurance supervisors. Overall, IFRS 17 is a welcome development but there will be challenges of implementation. Not many insurance supervisors currently intend to use IFRS 17 as a basis for solvency assessment of insurers.
And here's another article:
Former Gang Member Now Runs a Multi-Million Dollar Accounting Firm – The Black Chronicle
Badu, who was born in Ghana, moved to the United States when he was 8-years old. With his young mind, he thought he would feel protected if he joins a gang. But when he did, he realized that the protection the gangs advertised wasn't exactly true.
Badu finally decided to change his path after having a conversation with his aunt when he went back to Ghana for a short family vacation. He remembered his aunt told him about his parents' struggles just to take him to the U.S., "went through the lottery system for you to come and mess it up."
Nathan Cacka | How to pivot your accounting operations and cope with COVID-19 | Business World |
Companies are being forced to pivot and adapt both internally in how they handle operations and externally in how they interact with customers and maybe even the products they sell as a result of the COVID-19 pandemic.
Virtually no industry has gone untouched with either significant challenges or significant opportunities (or both) during this time. Additionally, the pandemic has forced some companies to look inward and potentially face the process issues they've been avoiding for years either due time constraints or due to the being complacent with status quo. One of those areas could be your accounting operations.
CFOs: FP&A and accounting must speak the same language | CFO Dive
Poor coordination between backward-looking and forward-looking finance functions eats up time and resources better spent elsewhere.
Inconsistencies between the two teams typically start with where they focus their attention, said Nayab Siddiqi, CFO and head of strategy at travel technology company REZY360.
Accounting teams, which are responsible for controls, compliance and reporting — traditionally backwards-looking functions — tend to focus on the balance sheet, while financial planning and analysis (FP&A) teams, which are responsible for forward-looking budgeting and forecasts, tend to focus on the P&L. FP&A teams typically account for a transaction one way — as an investment, for example — while the accounting team accounts for it as an expense.
While you're here, how about this:
Daniel Gaydon of Plains Twp. wins national award | Schools | citizensvoice.com
Daniel J. Gaydon, of Plains Twp., was one of two University of Scranton Doctor of Business Administration candidates and professors of accounting, who were awarded prestigious Institute of Management Accountants' Lybrand medals for 2020. Scranton's accounting faculty have been awarded more Lybrand Medals in the past decade than any other institution in the nation, previously winning four Lybrand medals, including two gold medals.
How car lender Credit Acceptance Corp. uses magical accounting to sweep losses under the rug
Yesterday Credit Acceptance reported that earnings sank in the first half of the year by 96% to $12 million under generally accepted accounting principles, or GAAP. But after waving its magical-accounting wand, Credit Acceptance showed that “adjusted” earnings actually grew to $330 million.
There’s a lot of that sort of wishful thinking going around. Companies regularly report “adjusted EBITDA,” which is earnings before interest, taxes, depreciation, amortization and other stuff they’d rather you forgot about. You even see companies report “EBITDAC,” which is what they guess earnings would be if it weren’t for Covid-19.
BPM Named to Accounting Today's Value-Added Reseller (VAR) 100 List | Business & Finance |
Manchester Center for Rehabilitation, 395 Interstate Dr., has 10 residents and six staff members, who have tested positive for COVID-19, as of Aug. 1, according to the department of health.
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Those who grew up in the Tullahoma side of the county are likely familiar with the over 500 acres of boot-shaped TVA land that juts out into Normandy Reservoir, known colloquially simply as the pumping station. The area, once owned by the Neel Family (with several variations in family spell…
How Can Accountants Leverage Big Tech?
Earlier in the week, the CEOs of Amazon, Google and other technology companies appeared before Congress to discuss the potentially unfair ways they conduct business. Although this might not seem like it's relevant to accountants, expert Ian Khan says there are numerous ways you can leverage the services these companies offer to your benefit.
Earlier this week, four of the world's largest technology companies' CEOs were made to testify in front of the US Congress on antitrust policies , unfair competition , and the way they conduct business.
Happening on Twitter
The outrage of the Blue Check Blue Bubble over my accounting of achievements of @realDonaldTrump helped speed the… https://t.co/62VaQ2IU1V hughhewitt (from California) Sat Aug 01 22:39:40 +0000 2020
While most have come to know the National Audubon Society for our conservation and policy leadership, our science,… https://t.co/HvLDtfLdHJ audubonsociety (from U.S.) Fri Jul 31 21:54:24 +0000 2020
"Congress (Parliament for those playing along in Australia/Canada/UK) doesn't need to 'find the money' to spend it.… https://t.co/2ra0H1OVC7 albericie (from Sydney) Sun Aug 02 01:17:34 +0000 2020
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