The Roots Of Trust
TAKEAWAYS From the clay tablets of Mesopotamia 7,000 years ago, where merchants tracked trade, debts and wealth with symbols, to the double-entry ledgers of Venetian trades in the 15th century, accounting has always been the invisible hand guiding societies. Across millennia, the tools have evolved from tablets to blockchain, but the essence of accounting has […]
Crypto-Asset Reporting Framework (CARF)
The Crypto-Asset Reporting Framework (CARF) is a key component of the International Standards for Automatic Exchange of Information in Tax Matters developed by OECD (Organisation for Economic Co-operation and Development) under a G20 mandate. It provides for the automatic exchange of tax-relevant information on crypto-assets and comes against the backdrop of the rapid adoption of […]
Beat Workplace Burnout
TAKEAWAYS Wenche Fredriksen was a high-achieving manager at a consulting firm and mother of two young children when her life fell apart. Diagnosed with burnout, Fredriksen “could not focus or handle information. I could not eat, sleep or cry. At my lowest point, I was convinced that I would never work again”. She spent over […]
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 […]
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 […]
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 […]
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, […]
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 […]
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 […]
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 […]
