Automating The Final Mile Of Report Generation
TAKEAWAYS Visual Basic for Applications (VBA) in Excel is a programming language that enables users to automate tasks, customise workflows, and create functions tailored to specific needs. It’s particularly useful for accountants who deal with repetitive tasks like data manipulation, report generation, and financial statement preparation. With VBA, manual effort is reduced, allowing users to […]
ADB Raises Regional Economic Growth Forecast
The Asian Development Bank (ADB) has raised its economic growth forecast for developing Asia and the Pacific this year, amid solid domestic demand and continued strength in exports. ADB has also lowered its forecast for regional inflation. The region is forecast to grow by 5.0% this year, compared with a projection of 4.9% in April, […]
Singapore’s GDP Grows 4.1% In Q3 2024
Based on advance estimates released by the Ministry of Trade and Industry on October 14, the Singapore economy grew by 4.1% on a year-on-year basis in the third quarter of 2024 (Q3 2024), extending the 2.9% growth in the previous quarter. On a quarter-on-quarter seasonally adjusted basis, the economy expanded by 2.1%, faster than the […]
To Counter Miscommunication, Strengthen Human Connection
TAKEAWAYS Like moths to flames, conspiracy theorists tend to gravitate to any whisper of information that fuels their suspicions and distrust. People who endorse one theory, such as believing the US government was behind 9/11 or that COVID-19 vaccines contain microchips also tend to endorse other conspiracy theories, even when they are logically inconsistent with […]
From Singapore To South Korea
TAKEAWAYS As a professional accountant who has spent a significant portion of my career in Singapore before returning to South Korea, I have experienced firsthand the dynamic nature of the accounting profession across different cultural and regulatory landscapes. My journey, which includes my current role as Chairperson of the Institute of Singapore Chartered Accountants (ISCA)’s […]
More Singaporeans Diagnosed With Young-Onset Dementia
Young-onset dementia (YOD), which refers to any type of dementia that develops in people below the age of 65 years, is increasingly recognised as a significant public health issue. More people are diagnosed with YOD globally, and Singapore is no exception. In Singapore, over 100 new cases of YOD are identified every year at the […]
Operational Transfer Pricing
TAKEAWAYS To achieve arm’s length pricing for related-party transactions, it is necessary to perform a Functions, Assets, and Risks (FAR) analysis, conduct an economic/comparability analysis and establish the appropriate transfer pricing (TP) policy. Establishing the TP policy is, however, only the start of the TP lifecycle. “Once the TP policy is in place, operational transfer […]
From Excel VBA To Python
TAKEAWAYS In today’s fast-paced business environment, proficiency in programming can seem daunting, especially for accounting and finance professionals who may lack technical literacy in this area. This fear often stems from the misconception that programming is an inaccessible skill reserved for tech-savvy individuals. However, this fear can be mitigated by using familiar tools and languages, […]
Singapore To Set Up Dedicated Agency For SMEs
Singapore’s strong reputation as a business and financial hub is built on an efficient, effective, and fair regulatory regime designed to facilitate the growth of good businesses. However, this also means that enterprises shoulder a heavy burden when it comes to navigating regulatory requirements. For small and medium-sized enterprises (SMEs) that are already lean in […]
Journey To Trustworthy And Secure AI
TAKEAWAYS Artificial intelligence (AI) promises significant benefits in terms of productivity and decision-making. Not only are the benefits economic and social, there are value-adds in terms of security. Even as malicious actors may abuse AI to empower their attacks, we are making efforts to ensure that our cyber defenders can also harness AI to fend […]