Global CPA Report March‌ 12, 2014
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Top Stories
Multinationals' emerging market expansions come under scrutiny
Multinational companies expanded quickly into emerging markets, but now profit growth and share performance of companies with high exposure in emerging markets are lagging.
The Economist
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How to ask for a raise
Professionals who ask for a raise or a promotion often are rewarded, new research shows. But making such a request requires courage, tact, and timing. Find out how to strike the right balance.
CGMA Magazine
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Africa
Kenyan auditor general successfully targets corruption
Edward Ouko, auditor general of Kenya, stands for greater transparency and accountability in the management of public resources in a country with a history of public-sector corruption. Find out how he does it.
Economia
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Americas
How to speed the path to partner
Young accountants have to work long and hard to enjoy the privileges of partnership. While it varies by firm, partnership typically is at least a 10- to 15-year track in the Big Four, national, and regional firms. But it doesn’t always have to take that long.
Journal of Accountancy
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US economic sentiment continues incremental rise
Optimism reached post-recession highs on several fronts in the AICPA Business and Industry Economic Outlook Survey, which captured the opinions of 867 CPA decision-makers, mainly CEOs, CFOs, and controllers in business and industry.
CGMA Magazine
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How to manage the risk of emerging technologies
CPAs must understand and keep abreast of breakthroughs in emerging technologies, because technological advances create new revenue streams. But CPAs must also be prepared to assist their organizations in developing policies and procedures for the management of technological advances, including security and privacy protections.
AICPA Insights
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FASB takes steps toward streamlining financial disclosures
The U.S. Financial Accounting Standards Board is building a framework that is intended to reduce unnecessary disclosures and highlight information that investors need most.
Journal of Accountancy
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Six facts that help assess the crisis in Venezuela
CNNWorld
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US freezes former Nigerian dictator's $458 million in corruption proceeds
FCPA Blog
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Fixing Excel's rounding error
Journal of Accountancy
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Asia
Chinese internet companies attract depositors with high interest rates
Big Chinese internet banks are competing with state-run banks for deposits by offering higher interest rates. Some observers say the offers by high-interest web banks are the beginning of interest rate liberalization.
New York Times
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"Abenomics" slow to deliver public works boom, structural reform
Prime Minister Shinzo Abe’s plan to reform the Japanese economy rests on three pillars—hyper-easy monetary policy, fiscal spending, and growth-generating structural reform. But progress on fiscal spending and structural reform has been slow.
JapanToday
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China continues double-digit increases in defense budget
JapanToday
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Australia/Oceania
How Apple shifted billions in untaxed profits out of Australia
U.S. tech giant Apple used a tax haven scheme to move an estimated $8.9 billion in untaxed profits from Australia to Singapore and then to Ireland, an analysis of a decade’s worth of Irish documents suggests.
Financial Review | Sydney Morning Herald
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Shining some light on valuing intangible assets
The knowledge economy is producing intangibles such as software-based processes, customer databases, websites, and even patented intellectual property that may be worth a lot more than the money it took to build them. New accounting tools help value these intangible assets.
InTheBlack
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Europe
Crisis in Ukraine is hurting Russian economy
Russia’s economy is feeling the pain as the fallout from the crisis in Ukraine has turned the ruble into one of the weakest currencies. The European Central Bank is also closely monitoring possible economic effects of the crisis on Russia and Ukraine.
CNNMoney | EUObserver
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A young reformer becomes prime minister in Italy
Matteo Renzi, the young, ambitious, but inexperienced new prime minister of Italy, wants to reform the European Union’s third-largest economy. He takes charge in the midst of Italy’s most severe economic crisis since World War II.
Der Spiegel
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Warning issued that corrupt Ukrainian assets may be quickly withdrawn from UK
Economia
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Investment funds prefer Ireland over other European countries
Business World
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AICPA News
Impact of emerging technologies on ethics
The audio webcast “Impact of Emerging Technologies on Ethics” on March 18 will explore ethics issues in scenarios specific to emerging technologies such as social media, including the threats, significance, and safeguards related to each scenario.
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AICPA Resources
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Global CPA Report
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The American Institute of CPAs is the world's largest member association representing the accounting profession, with more than 394,000 members in 128 countries and a 125-year heritage of serving the public interest. AICPA members represent many areas of practice, including business and industry, public practice, government, education, and consulting. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant (CGMA) designation to elevate management accounting globally.

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