GAA Accounting

The Journal of the Global Accounting Alliance

14/12/2016
by GAA Accounting
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Premium products

By George W. Russell

China is the world’s fastest growing insurance market and third largest in overall size. However, competition is intense amid lower margins and heavier regulatory scrutiny. George W. Russell looks at the state of the sector as it also gears up for major changes in accounting standards.

Along with Burberry scarves and imported baby formula, another must-have purchase has emerged for many middle-class Chinese consumers visiting Hong Kong. Record numbers of cross-border tourists are dropping in on local insurance agents to sign up for sophisticated policies. Continue Reading →

14/12/2016
by GAA Accounting
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2017: where to for investors?

By Kevin Lings and Vaughan Henkel

In today’s interconnected, fast-changing world, you need deep investment insights to make the connections between many seemingly unconnected factors. Kevin Lings and Vaughan Henkel takes a look at a range of factors to help you make better investment decisions in 2017.

Since 2009 investors have witnessed one of the longest periods of global economic expansion in history. It may not seem like it though. Expansion has been weak and well below long-term average, but it has been expansion. Continue Reading →

14/12/2016
by GAA Accounting
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Risky business

By Lisa van de Geyn

Operating in the underground economy might seem smart in the short term, but it creates a host of negative consequences for the economy, businesses and consumers.

Few – if any – countries fared worse than Greece in the aftermath of the financial crisis of 2008. Fast-forward nearly nine years and the economic outlook in the country is anything but sunny. “Last year was tumultuous, punctuated by two elections, a referendum, the imposition of capital controls, negotiations to reach a bailout deal, cliffhanger parliamentary votes and Athens’ closest brush yet with bankruptcy and euro exit,” says a story that ran in The Guardian last January. Continue Reading →

14/12/2016
by GAA Accounting
Comments Off on Difficult decisions

Difficult decisions

By Lisa van de Geyn

Sure, managers have to have them all the time, but no one actually likes them. Read on to find out how to have those tough chats with your employees.

While few things are more rewarding for managers than spreading good news and positive feedback at the office, not every day will be sunshine and rainbows at work. And while no one truly wants to engage in difficult discourse (it’s the tough conversations managers are forced to have with their employees that keep them up at night), distressing, negative and challenging talks are bound to happen — it’s part of the gig. Continue Reading →

14/12/2016
by GAA Accounting
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Receipt, please.

By Peter Carter

Is an all-cash deal really a deal? At first blush it’s a bargain, but when things go wrong and you don’t have proof of payment, that’s no deal.

I like motorcycles. My wife, Helena, always enjoyed riding on the back of my bikes. So a few years ago, on one of our anniversaries, I discovered what I thought was the perfect gift — an electric scooter. A little store not far from where we live had a shiny scooter in stock. The price tag? $200. Continue Reading →

14/12/2016
by GAA Accounting
Comments Off on Life underground

Life underground

By Yan Barcelo

What’s the size of the shadow economy? Nobody knows, and estimates vary widely. But what’s certain is that it is a form of tax evasion.

Like many well-off professionals, Roger, a Quebec notary, hired a woman who came in every week to perform housecleaning chores. He paid her cash, and one is tempted to say, “Of course.” Everything was dandy until the day she fell down the stairs and broke a leg. Kind-hearted Roger whisked her off to a hospital. Continue Reading →