Best personal tax accountant North Vancouver

Best personal tax accountant North Vancouver

Payroll processing

They understand that cash flow is king in the early stages of any business. Understanding your financial health is crucial, and that's where IBB steps in. Learn more about Best personal tax accountant North Vancouver here Retailers benefit from our insights into consumer behavior trends and e-commerce optimizations. And tech companies, often at the forefront of innovation but also tax scrutiny, can rely on us to optimize their R&D tax credits and other incentives.
Understanding your business's unique needs doesn't stop after we've implemented your customized solutions; we're here to offer ongoing support and guidance every step of the way. Learn more about IBB Accounting & Tax Services here. They're your go-to experts, ensuring you're not only compliant but also optimizing your tax strategies to support your business's growth and sustainability.

Best personal tax accountant North Vancouver - Accounting for remote workers

  1. CPA firms
  2. Accounting training
  3. Accounting for realtors
  4. Accounting for Airbnb hosts
  5. Accounting technology solutions
  6. Forensic accounting
  7. Accounting for medical professionals
  8. International tax accounting
  9. Online tax filing
  10. Personal tax services
  11. Business valuation
  12. Accounting for consultants
  13. Business incorporation services
  14. Tax accounting
  15. Payroll processing
  16. CRA audit help
  17. Estate planning accounting
  18. Accounting for tech startups
They don't just crunch numbers; they transform data into actionable strategies, making it easier for you to navigate the complexities of your business landscape.
You'll find their approach to be refreshingly straightforward. Whether you're looking to grow your business or secure your personal financial future, our team is here to guide you every step of the way.

Best personal tax accountant North Vancouver - Accounting for remote workers

  1. GST/PST filing
  2. GST/PST filing
  3. GST/PST filing
  4. GST/PST filing
  5. GST/PST filing
  6. GST/PST filing
  7. GST/PST filing
  8. GST/PST filing
  9. GST/PST filing
  10. GST/PST filing
  11. GST/PST filing
  12. GST/PST filing
  13. GST/PST filing
  14. GST/PST filing
  15. GST/PST filing
  16. GST/PST filing
  17. GST/PST filing
  18. GST/PST filing
  19. GST/PST filing
  20. GST/PST filing
Then there's the tech startup that was on the brink of losing track of its expenses and revenue projections.
Moreover, they'll handle year-end tax forms and filings, lifting another weight off your shoulders. It's not just about reducing your tax liability for the current year but also about planning for the future. Whether you're navigating the complex world of real estate or the ever-evolving tech sector, they've got your back.

This approach ensures that your financial goals aren't just met but are achieved in a way that reflects your personal values and vision. In the world of accounting, embracing modern technology has become a game-changer for businesses in Best personal tax accountant North Vancouver. Whether it's identifying cost-saving opportunities, analyzing profit margins, or forecasting future growth, IBB's expertise can provide you with a competitive edge. Choosing IBB, you're not just getting an accountant; you're gaining a partner who's invested in your success.

Best personal tax accountant North Vancouver - Accounting consulting

  1. Construction accounting
  2. Accounting for artists
  3. Small business tax advising
  4. Retail accounting
  5. Accounting for freelancers
  6. Cash flow management
  7. Sole proprietorship accounting
  8. Corporate tax accounting
  9. Tax deduction optimization
  10. Business advisory services
  11. Best accounting services
  12. Financial consulting
  13. Corporation tax filing
  14. Professional accounting services
  15. Accounting for legal professionals
  16. Accounting for independent contractors
  17. Free consultation accounting services
  18. Accounting firm reviews
  19. Tax-efficient investment strategies


This deep dive allows us to craft a customized strategy that not only addresses your immediate accounting and tax needs but also positions your business for long-term growth and stability. Instead, you'll receive services that evolve with your business. You're also required to keep accurate records of your income and expenses.

Simplifying your financial management with IBB means you're setting your business up for long-term success. From crafting customized tax strategies that could save you a small fortune to navigating the complex maze of business financial planning and wealth management, they've got you covered.

Best personal tax accountant North Vancouver - Investment accounting

  1. Financial reporting
  2. Nonprofit accounting
  3. GST/PST filing
  4. Bookkeeping services
  5. Investment accounting
  6. Financial reporting
  7. Nonprofit accounting
  8. GST/PST filing
  9. Bookkeeping services
  10. Investment accounting
  11. Financial reporting
  12. Nonprofit accounting
  13. GST/PST filing
  14. Bookkeeping services
  15. Investment accounting
  16. Financial reporting
  17. Nonprofit accounting
  18. GST/PST filing
  19. Bookkeeping services
  20. Investment accounting
That's why we've tailored our services to not only meet but exceed these requirements.

They stay ahead of changes, ensuring you're always in compliance and maximizing your financial opportunities. That's why we dive deep into your business's unique challenges and opportunities, crafting strategies that align with your specific objectives. We're here to guide you through every step, offering insights and advice to help you make informed decisions.

Best personal tax accountant North Vancouver - Payroll processing

  1. Income tax strategies
  2. Bookkeeping services
  3. CPA firms
  4. Accounting training
  5. Accounting for realtors
  6. Accounting for Airbnb hosts
  7. Accounting technology solutions
  8. Forensic accounting
  9. Accounting for medical professionals
  10. International tax accounting
  11. Online tax filing
  12. Personal tax services
  13. Business valuation
  14. Accounting for consultants
  15. Business incorporation services
  16. Tax accounting
  17. Payroll processing


Accounting Firm Near Me North Vancouver

Entity Name Description Source
Tax return A tax return is a form or forms filed with a tax authority that reports income, expenses, and other pertinent tax information. Tax returns allow taxpayers to calculate their tax liability, schedule tax payments, or request refunds for the overpayment of taxes. Source
Accounting Accounting is the process of identifying, measuring, and communicating information to allow business owners to know the status of their business. It involves tracking money to see which product lines and services are the most profitable. Services include profit and loss reports, balance sheets, cash flow statements, and sales reports. Source
Estate planning Estate planning involves arranging for the management and disposal of a person's estate during their life and after death, aiming to minimize uncertainties and maximize the value of the estate by reducing taxes and other expenses. Source
Bookkeeping Bookkeeping is the process of recording financial transactions of a business, including collecting, sorting, and recording transactions such as purchases, sales, cash receipts, and payments. It serves as the foundation for the accounting process by maintaining accurate financial records. Source
Tax avoidance Tax avoidance refers to legally minimizing tax liability through careful planning and compliance with the letter, but not necessarily the spirit, of tax laws. It involves using permissible methods to take advantage of loopholes, exemptions, and deductions offered within the tax code. Source
Income tax Income tax is a tax imposed on individuals or entities based on their income or profits. It is a key source of revenue for governments and is typically calculated as a percentage of taxable income, with rates varying based on income levels and jurisdiction. Source
Property tax Property tax is a levy on property that the owner is required to pay to the government, typically based on the value of the property. It is a primary source of revenue for local governments and funds services such as education, transportation, and emergency services. Source
Risk management Risk management involves identifying, assessing, and prioritizing risks followed by coordinated efforts to minimize, monitor, and control the probability or impact of unforeseen events. In taxation, it includes implementing internal controls, developing tax policies, and ensuring compliance to mitigate tax-related risks. Source
Benchmarking Benchmarking is the practice of comparing business processes and performance metrics to industry bests or best practices from other companies. In taxation, it can involve comparing one's tax strategies and liabilities to those of similar organizations to identify areas for improvement and ensure competitiveness. Source

Business Tax Accountant North Vancouver

Not long after the District of North Vancouver was formed, an early land developer and second reeve of the new council, James Cooper Keith, personally underwrote a loan to commence construction of a road which undulated from West Vancouver to Deep Cove amid the slashed sidehills, swamps, and burnt stumps. The road, sometimes under different names and not always contiguous, is still one of the most important east-west thoroughfare carrying traffic across the North Shore.

Citations and other links

Self-Employed Tax Accountant Best personal tax accountant North Vancouver

Lastly, explore different revenue streams or adjust your pricing models to increase cash flow without necessarily increasing overhead costs. As we explore the myriad ways IBB Accounting & Tax Services can transform the financial management of your business, you'll see why local entrepreneurs don't just consider them an option, but a necessity for success. They're all about empowering you with financial insights that drive growth. Whether you're a startup looking for basic bookkeeping or an established business needing more complex financial management, we've got you covered. While we guide you through financial planning, ensuring accuracy and compliance in your financial reports and tax filings becomes our next priority.

Building on their personalized approach to financial management, IBB Accounting & Tax Services offers a comprehensive suite of services designed to meet every aspect of your financial needs. Navigating the complex world of tax laws requires a strategic approach to ensure your business maximizes its savings and stays compliant. That's where IBB Accounting & Tax Services steps in. You'll find accessing IBB Accounting & Tax Services remarkably straightforward, ensuring you're never left in the dark about your financial matters.

Let's start building your legacy today. Retail businesses benefit from our expertise in inventory management and point-of-sale systems. We assess your risk tolerance, investment preferences, and expected retirement lifestyle to design a plan that's both realistic and ambitious. Beyond ensuring your financial statements are accurate through our audit and assurance services, we also specialize in streamlining your payroll management to keep your business running smoothly.

Best personal tax accountant North Vancouver - Investment accounting

  1. Financial reporting
  2. Nonprofit accounting
  3. GST/PST filing
  4. Investment accounting
  5. Financial reporting
  6. Nonprofit accounting
  7. GST/PST filing
  8. Investment accounting
  9. Financial reporting
  10. Nonprofit accounting
  11. GST/PST filing
  12. Investment accounting
  13. Financial reporting
  14. Nonprofit accounting
  15. GST/PST filing
  16. Investment accounting
  17. Financial reporting
  18. Nonprofit accounting
  19. GST/PST filing
  20. Investment accounting


We're here to guide you through every financial decision, big or small, with strategies that are as unique as your business. Whether you're in retail, construction, healthcare, or technology, we've got you covered. When you're navigating the complexities of entrepreneurship in Best personal tax accountant North Vancouver, it's easy to get overwhelmed by the financial details. Plus, their proactive approach means you're always ahead of deadlines, avoiding penalties and interest.

Self-Employed Tax Accountant Best personal tax accountant North Vancouver
Full-Service Accounting Best personal tax accountant North Vancouver

Full-Service Accounting Best personal tax accountant North Vancouver

These stories underscore our commitment to not just meet, but exceed, the expectations of our diverse clientele.

Best personal tax accountant North Vancouver - GST/PST filing

  1. Financial reporting
  2. Nonprofit accounting
  3. GST/PST filing
  4. Financial reporting
  5. Nonprofit accounting
  6. GST/PST filing
  7. Financial reporting
  8. Nonprofit accounting
  9. GST/PST filing
  10. Financial reporting
  11. Nonprofit accounting
  12. GST/PST filing
  13. Financial reporting
  14. Nonprofit accounting
  15. GST/PST filing
  16. Financial reporting
  17. Nonprofit accounting
  18. GST/PST filing
Having explored IBB Accounting & Tax Services' success stories, let's now examine their client service approach that makes these achievements possible. Let us handle the numbers, so you can focus on what you do best-running your business. They'll guide you through claiming these benefits, reducing your tax burden, and reinvesting in innovation. They understand how daunting an audit can be, so they're here to take the weight off your shoulders.
Here, you can find more details about their services, team, and even book consultations online. Their personalized approach ensures that your goals are their top priority, making financial decisions simpler and more effective.

Best personal tax accountant North Vancouver - Nonprofit accounting

  1. CRA audit help
  2. Estate planning accounting
  3. Accounting for tech startups
  4. Construction accounting
  5. Accounting for artists
  6. Small business tax advising
  7. Retail accounting
  8. Accounting for freelancers
  9. Cash flow management
  10. Sole proprietorship accounting
  11. Corporate tax accounting
  12. Tax deduction optimization
  13. Business advisory services
  14. Best accounting services
  15. Financial consulting
  16. Corporation tax filing
  17. Professional accounting services
  18. Accounting for legal professionals
  19. Accounting for independent contractors
  20. Free consultation accounting services
Whether you're looking to expand your operations, invest in new technology, or explore new markets, we've got your back. We're not just about numbers; we're about building lasting relationships based on trust and personalized attention.

Best personal tax accountant North Vancouver - Financial reporting

  1. Tax resolution services
  2. Accounting for rental properties
  3. Professional bookkeeping
  4. Personal finance consulting
  5. Best accounting software for businesses
  6. Certified public accountant (CPA)
  7. Debt management
  8. Nonprofit accounting
  9. QuickBooks accounting
  10. E-commerce accounting
  11. Cloud accounting solutions
  12. Certified accountants
  13. Corporation tax accountant
  14. Investment accounting
  15. Chartered accountant
  16. Small business accounting

Let IBB Accounting & Tax Services empower your Best personal tax accountant North Vancouver business with the advanced accounting technologies it deserves.

Best personal tax accountant North Vancouver - Small business accounting software

  1. Accounting for nonprofit organizations
  2. Tax compliance
  3. Hospitality industry accounting
  4. Business tax return preparation
  5. Outsourced accounting services
  6. Digital accounting
  7. Financial statement preparation
  8. Financial risk management
  9. Self-employed tax services
  10. Best bookkeeping services
  11. Year-end financial statements
  12. Accounting services
  13. Tax audit assistance
  14. Virtual accounting services
  15. Business growth consulting
  16. Cost accounting
  17. Estate and trust tax planning
  18. Accounting consulting
  19. Accounting software setup
  20. Tax consulting
Building on their comprehensive tax services, IBB Accounting & Tax Services now offers specialized support tailored specifically for startups in Best personal tax accountant North Vancouver. We keep abreast of the latest tax updates, ensuring that we leverage every opportunity to enhance your financial health. Read more about Best personal tax accountant North Vancouver here We're not just about filling in the blanks; we're about crafting a tax strategy that aligns with your personal and business goals.
How can streamlining your payroll processes transform the way you manage your business's financial health? Retailers, service providers, and manufacturers all benefit from IBB's keen understanding of tax regulations and loopholes. To navigate Best personal tax accountant North Vancouver's dynamic business environment, you'll need accounting solutions that are specifically tailored to your company's unique needs. Moreover, IBB Accounting & Tax Services stays ahead of the curve with proactive tax planning.

Small Business Tax Services Best personal tax accountant North Vancouver

Plus, we're here to guide you through complex financial landscapes, offering advice on investments, mergers, and acquisitions. Decide on a percentage of your monthly revenue that gets automatically transferred to a savings account. With IBB Accounting & Tax Services, you're not just getting an accountant; you're getting a partner dedicated to your success.

Best personal tax accountant North Vancouver - Nonprofit accounting

  1. HST/GST tax filing
  2. Financial reporting
  3. Small business accounting software
  4. Accounting for franchises
  5. Personal tax accountant
  6. Accounting for remote workers
  7. Real estate accounting
  8. Financial advisory services
  9. Business restructuring accounting
  10. Accounting for home-based businesses
  11. Tax specialist services
  12. CFO services
  13. Tax planning
  14. GST/PST filing
  15. Financial planning
  16. Accounting for import/export businesses
  17. Budgeting and forecasting
  18. Self-employment tax preparation
  19. Income tax strategies
  20. Bookkeeping services
How does leveraging advanced accounting technology give your business an edge?

They're committed to understanding the nuances of your financial situation, enabling them to provide personalized strategies that reflect your specific needs and objectives. Meanwhile, technology firms benefit from our expertise in claiming research and development tax credits, a crucial factor in fostering innovation and growth. Their team stays on top of the latest tax laws and regulations affecting the real estate market.

Moreover, with cybersecurity threats on the rise, these cutting-edge platforms offer robust security features to protect your sensitive financial data.

Best personal tax accountant North Vancouver - Real estate accounting

  1. Payroll processing
  2. Accounting consulting
  3. Bookkeeping services
  4. Investment accounting
  5. Financial reporting
  6. Nonprofit accounting
  7. GST/PST filing
  8. Accounting consulting
  9. Bookkeeping services
  10. Investment accounting
  11. Financial reporting
  12. Nonprofit accounting
  13. GST/PST filing
  14. Accounting consulting
  15. Bookkeeping services
  16. Investment accounting
We've got it all covered. As a professional or business owner in this bustling community, you're likely seeking a reliable partner to navigate these waters.

Recognizing that each individual's situation is unique, we tailor our approach to align with your specific goals, ensuring a smooth transition of your assets to your chosen beneficiaries. They've developed systems that not only track your finances accurately but also make it easier for you to understand where your business stands financially at any given moment. Leading the team is Sarah Chen, a Chartered Professional Accountant with over 15 years of experience in tax planning and financial management.

Small Business Tax Services Best personal tax accountant North Vancouver
Startup Accounting Services Best personal tax accountant North Vancouver
Startup Accounting Services Best personal tax accountant North Vancouver

You're not just getting an accountant; you're getting a partner who's invested in your financial health and future. Instead, they'll provide you with insights and strategies tailored to your business's unique situation. That's why their approach is tailored to break down the process into manageable steps. This strategic approach has catapulted their growth, doubling their market presence in a short timeframe. We've got the expertise you need.

That's the power of advanced accounting technologies. By focusing on customization, they're able to adapt their services for startups, mid-sized enterprises, and even large corporations, ensuring that the scale of your operations never hinders your financial clarity.

Best personal tax accountant North Vancouver - Financial reporting

  1. Partnership accounting
  2. Income tax preparation
  3. Accounting for startups
  4. Accounting for remote workers
  5. Real estate accounting
  6. Financial advisory services
  7. Business restructuring accounting
  8. Accounting for home-based businesses
  9. Tax specialist services
  10. CFO services
  11. Tax planning
  12. GST/PST filing
  13. Financial planning
  14. Accounting for import/export businesses
  15. Budgeting and forecasting
  16. Self-employment tax preparation
You're not just getting an accountant; you're partnering with a team that's as invested in your industry's success as you are. We're committed to being a part of your business journey, providing you with the tools and advice you need to navigate the complexities of finance and taxation with ease.

Automation tools also play a crucial role, reducing the risk of human error and freeing up your schedule to focus on core business activities. Navigating your unique financial journey also means staying informed about ever-changing regulations that can impact your strategies.

Best personal tax accountant North Vancouver - GST/PST filing

  1. Nonprofit accounting
  2. GST/PST filing
  3. Nonprofit accounting
  4. GST/PST filing
  5. Nonprofit accounting
  6. GST/PST filing
  7. Nonprofit accounting
  8. GST/PST filing
  9. Nonprofit accounting
  10. GST/PST filing
  11. Nonprofit accounting
  12. GST/PST filing
  13. Nonprofit accounting
  14. GST/PST filing
  15. Nonprofit accounting
  16. GST/PST filing
Need assistance with estate planning or navigating the intricacies of international tax laws? From cloud-based accounting systems that offer unparalleled accessibility to your financial data, to sophisticated tax software that ensures compliance and optimization, we've got you covered.

Whether you're a solo entrepreneur, a growing startup, or an established corporation, we've got you covered. Understanding these dynamics is crucial for anyone looking to thrive in Best personal tax accountant North Vancouver's vibrant business community. Our goal is to provide a one-stop solution for all your accounting and tax needs, ensuring you're always one step ahead. Our team specializes in identifying areas where your business can become more efficient, saving you time and money.

Year-End Accounting Best personal tax accountant North Vancouver

The result? We don't just stop at filing your annual tax returns. Now, the bakery isn't only a local favorite but also eyeing wholesale opportunities. This continuous support ensures that you're never left in the dark about your financial situation.

Best personal tax accountant North Vancouver - HST/GST tax filing

  1. Accounting firm reviews
  2. Tax-efficient investment strategies
  3. Tax resolution services
  4. Accounting for rental properties
  5. Professional bookkeeping
  6. Personal finance consulting
  7. Best accounting software for businesses
  8. Certified public accountant (CPA)
  9. Debt management
  10. Nonprofit accounting
  11. QuickBooks accounting
  12. E-commerce accounting
  13. Cloud accounting solutions
  14. Certified accountants
  15. Corporation tax accountant
  16. Investment accounting
  17. Chartered accountant
  18. Small business accounting

Beyond managing your finances, tackling the broader complexities of running a business in Best personal tax accountant North Vancouver requires expert guidance. For instance, if you're in the retail sector, you're likely grappling with inventory management and point-of-sale transaction complexities. We'll assist you in setting realistic objectives, determining the best strategies for achieving them, and monitoring your progress.
Accurate financial reporting is crucial for maintaining the integrity of your business's financial health and ensuring compliance with tax regulations. Their use of advanced accounting platforms allows for real-time tracking of your finances, enabling you to make informed decisions swiftly. Navigating tax season doesn't have to be a daunting task for entrepreneurs; with the right strategies, you can simplify the process and avoid common pitfalls.
Whether you're navigating the complexities of healthcare, technology, real estate, or retail, our deep understanding ensures you're not just keeping pace but setting the pace in your industry.

Best personal tax accountant North Vancouver - Small business accounting software

    IBB Accounting & Tax Services stands out as that go-to firm, offering a blend of expertise, personalized service, and innovative solutions tailored to your unique needs. That's why we don't offer one-size-fits-all solutions.

    Explore Best personal tax accountant North Vancouver here
    Year-End Accounting Best personal tax accountant North Vancouver

     

    Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations.[1][2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators.[3] Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used interchangeably.[4]

    Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting.[5] Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers.[6] Management accounting focuses on the measurement, analysis and reporting of information for internal use by management to enhance business operations.[1][6] The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system.[7] Accounting information systems are designed to support accounting functions and related activities.

    Accounting has existed in various forms and levels of sophistication throughout human history. The double-entry accounting system in use today was developed in medieval Europe, particularly in Venice, and is usually attributed to the Italian mathematician and Franciscan friar Luca Pacioli.[8] Today, accounting is facilitated by accounting organizations such as standard-setters, accounting firms and professional bodies. Financial statements are usually audited by accounting firms,[9] and are prepared in accordance with generally accepted accounting principles (GAAP).[6] GAAP is set by various standard-setting organizations such as the Financial Accounting Standards Board (FASB) in the United States[1] and the Financial Reporting Council in the United Kingdom. As of 2012, "all major economies" have plans to converge towards or adopt the International Financial Reporting Standards (IFRS).[10][11]

    History

    [edit]
    Portrait of Luca Pacioli, painted by Jacopo de' Barbari, 1495 (Museo di Capodimonte)

    Accounting is thousands of years old and can be traced to ancient civilizations.[12][13][14] One early development of accounting dates back to ancient Mesopotamia and is closely related to developments in writing, counting and money;[12] there is also evidence of early forms of bookkeeping in ancient Iran,[15][16] and early auditing systems by the ancient Egyptians and Babylonians.[13] By the time of Emperor Augustus, the Roman government had access to detailed financial information.[17]

    Many concepts related to today's accounting seem to be initiated in medieval's Middle East. For example, Jewish communities used double-entry bookkeeping in the early-medieval period[18][19] and Muslim societies, at least since the 10th century also used many modern accounting concepts.[20]

    The spread of the use of Arabic numerals, instead of the Roman numbers historically used in Europe, increased efficiency of accounting procedures among Mediterranean merchants,[21] who further refined accounting in medieval Europe.[22] With the development of joint-stock companies, accounting split into financial accounting and management accounting.

    The first published work on a double-entry bookkeeping system was the Summa de arithmetica, published in Italy in 1494 by Luca Pacioli (the "Father of Accounting").[23][24] Accounting began to transition into an organized profession in the nineteenth century,[25][26] with local professional bodies in England merging to form the Institute of Chartered Accountants in England and Wales in 1880.[27]

    Etymology

    [edit]
    Early 19th-century ledger

    Both the words "accounting" and "accountancy" were in use in Great Britain by the mid-1800s and are derived from the words accompting and accountantship used in the 18th century.[28] In Middle English (used roughly between the 12th and the late 15th century), the verb "to account" had the form accounten, which was derived from the Old French word aconter,[29] which is in turn related to the Vulgar Latin word computare, meaning "to reckon". The base of computare is putare, which "variously meant to prune, to purify, to correct an account, hence, to count or calculate, as well as to think".[29]

    The word "accountant" is derived from the French word compter, which is also derived from the Italian and Latin word computare. The word was formerly written in English as "accomptant", but in process of time the word, which was always pronounced by dropping the "p", became gradually changed both in pronunciation and in orthography to its present form.[30]

    Terminology

    [edit]

    Accounting has variously been defined as the keeping or preparation of the financial records of transactions of the firm, the analysis, verification and reporting of such records and "the principles and procedures of accounting"; it also refers to the job of being an accountant.[31][32][33]

    Accountancy refers to the occupation or profession of an accountant,[34][35][36] particularly in British English.[31][32]

    Topics

    [edit]

    Accounting has several subfields or subject areas, including financial accounting, management accounting, auditing, taxation and accounting information systems.[5]

    Financial accounting

    [edit]

    Financial accounting focuses on the reporting of an organization's financial information to external users of the information, such as investors, potential investors and creditors. It calculates and records business transactions and prepares financial statements for the external users in accordance with generally accepted accounting principles (GAAP).[6] GAAP, in turn, arises from the wide agreement between accounting theory and practice, and changes over time to meet the needs of decision-makers.[1]

    Financial accounting produces past-oriented reports—for example financial statements are often published six to ten months after the end of the accounting period—on an annual or quarterly basis, generally about the organization as a whole.[6]

    Management accounting

    [edit]

    Management accounting focuses on the measurement, analysis and reporting of information that can help managers in making decisions to fulfill the goals of an organization. In management accounting, internal measures and reports are based on cost–benefit analysis, and are not required to follow the generally accepted accounting principle (GAAP).[6] In 2014 CIMA created the Global Management Accounting Principles (GMAPs). The result of research from across 20 countries in five continents, the principles aim to guide best practice in the discipline.[37]

    Management accounting produces past-oriented reports with time spans that vary widely, but it also encompasses future-oriented reports such as budgets. Management accounting reports often include financial and non financial information, and may, for example, focus on specific products and departments.[6]

    Intercompany accounting

    [edit]

    Intercompany accounting focuses on the measurement, analysis and reporting of information between separate entities that are related, such as a parent company and its subsidiary companies. Intercompany accounting concerns record keeping of transactions between companies that have common ownership such as a parent company and a partially or wholly owned subsidiary. Intercompany transactions are also recorded in accounting when business is transacted between companies with a common parent company (subsidiaries).[38][39]

    Auditing

    [edit]

    Auditing is the verification of assertions made by others regarding a payoff,[40] and in the context of accounting it is the "unbiased examination and evaluation of the financial statements of an organization".[41] Audit is a professional service that is systematic and conventional.[42]

    An audit of financial statements aims to express or disclaim an independent opinion on the financial statements. The auditor expresses an independent opinion on the fairness with which the financial statements presents the financial position, results of operations, and cash flows of an entity, in accordance with the generally accepted accounting principles (GAAP) and "in all material respects". An auditor is also required to identify circumstances in which the generally accepted accounting principles (GAAP) have not been consistently observed.[43]

    Information systems

    [edit]

    An accounting information system is a part of an organization's information system used for processing accounting data.[44] Many corporations use artificial intelligence-based information systems. The banking and finance industry uses AI in fraud detection. The retail industry uses AI for customer services. AI is also used in the cybersecurity industry. It involves computer hardware and software systems using statistics and modeling.[45]

    Many accounting practices have been simplified with the help of accounting computer-based software. An enterprise resource planning (ERP) system is commonly used for a large organisation and it provides a comprehensive, centralized, integrated source of information that companies can use to manage all major business processes, from purchasing to manufacturing to human resources. These systems can be cloud based and available on demand via application or browser, or available as software installed on specific computers or local servers, often referred to as on-premise.

    Tax accounting

    [edit]

    Tax accounting in the United States concentrates on the preparation, analysis and presentation of tax payments and tax returns. The U.S. tax system requires the use of specialised accounting principles for tax purposes which can differ from the generally accepted accounting principles (GAAP) for financial reporting.[46] U.S. tax law covers four basic forms of business ownership: sole proprietorship, partnership, corporation, and limited liability company. Corporate and personal income are taxed at different rates, both varying according to income levels and including varying marginal rates (taxed on each additional dollar of income) and average rates (set as a percentage of overall income).[46]

    Forensic accounting

    [edit]

    Forensic accounting is a specialty practice area of accounting that describes engagements that result from actual or anticipated disputes or litigation.[47] "Forensic" means "suitable for use in a court of law", and it is to that standard and potential outcome that forensic accountants generally have to work.

    Political campaign accounting

    [edit]

    Political campaign accounting deals with the development and implementation of financial systems and the accounting of financial transactions in compliance with laws governing political campaign operations. This branch of accounting was first formally introduced in the March 1976 issue of The Journal of Accountancy.[48]

    Organizations

    [edit]

    Professional bodies

    [edit]

    Professional accounting bodies include the American Institute of Certified Public Accountants (AICPA) and the other 179 members of the International Federation of Accountants (IFAC),[49] including Institute of Chartered Accountants of Scotland (ICAS), Institute of Chartered Accountants of Pakistan (ICAP), CPA Australia, Institute of Chartered Accountants of India, Association of Chartered Certified Accountants (ACCA) and Institute of Chartered Accountants in England and Wales (ICAEW). Some countries have a single professional accounting body and, in some other countries, professional bodies for subfields of the accounting professions also exist, for example the Chartered Institute of Management Accountants (CIMA) in the UK and Institute of management accountants in the United States.[50] Many of these professional bodies offer education and training including qualification and administration for various accounting designations, such as certified public accountant (AICPA) and chartered accountant.[51][52]

    Firms

    [edit]

    Depending on its size, a company may be legally required to have their financial statements audited by a qualified auditor, and audits are usually carried out by accounting firms.[9]

    Accounting firms grew in the United States and Europe in the late nineteenth and early twentieth century, and through several mergers there were large international accounting firms by the mid-twentieth century. Further large mergers in the late twentieth century led to the dominance of the auditing market by the "Big Five" accounting firms: Arthur Andersen, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers.[53] The demise of Arthur Andersen following the Enron scandal reduced the Big Five to the Big Four.[54]

    Standard-setters

    [edit]

    Generally accepted accounting principles (GAAP) are accounting standards issued by national regulatory bodies. In addition, the International Accounting Standards Board (IASB) issues the International Financial Reporting Standards (IFRS) implemented by 147 countries.[1] Standards for international audit and assurance, ethics, education, and public sector accounting are all set by independent standard settings boards supported by IFAC. The International Auditing and Assurance Standards Board sets international standards for auditing, assurance, and quality control; the International Ethics Standards Board for Accountants (IESBA)[55] sets the internationally appropriate principles-based Code of Ethics for Professional Accountants; the International Accounting Education Standards Board (IAESB) sets professional accounting education standards;[56] and International Public Sector Accounting Standards Board (IPSASB) sets accrual-based international public sector accounting standards.[57][4]

    Organizations in individual countries may issue accounting standards unique to the countries. For example, in Australia, the Australian Accounting Standards Board manages the issuance of the accounting standards in line with IFRS. In the United States the Financial Accounting Standards Board (FASB) issues the Statements of Financial Accounting Standards, which form the basis of US GAAP,[1] and in the United Kingdom the Financial Reporting Council (FRC) sets accounting standards.[58] However, as of 2012 "all major economies" have plans to converge towards or adopt the IFRS.[10]

    Education, training and qualifications

    [edit]

    Degrees

    [edit]

    At least a bachelor's degree in accounting or a related field is required for most accountant and auditor job positions, and some employers prefer applicants with a master's degree.[59] A degree in accounting may also be required for, or may be used to fulfill the requirements for, membership to professional accounting bodies. For example, the education during an accounting degree can be used to fulfill the American Institute of CPA's (AICPA) 150 semester hour requirement,[60] and associate membership with the Certified Public Accountants Association of the UK is available after gaining a degree in finance or accounting.[61]

    A doctorate is required in order to pursue a career in accounting academia, for example, to work as a university professor in accounting.[62][63] The Doctor of Philosophy (PhD) and the Doctor of Business Administration (DBA) are the most popular degrees. The PhD is the most common degree for those wishing to pursue a career in academia, while DBA programs generally focus on equipping business executives for business or public careers requiring research skills and qualifications.[62]

    Professional qualifications

    [edit]

    Professional accounting qualifications include the chartered accountant designations and other qualifications including certificates and diplomas.[64] In Scotland, chartered accountants of ICAS undergo Continuous Professional Development and abide by the ICAS code of ethics.[65] In England and Wales, chartered accountants of the ICAEW undergo annual training, and are bound by the ICAEW's code of ethics and subject to its disciplinary procedures.[66]

    In the United States, the requirements for joining the AICPA as a Certified Public Accountant are set by the Board of Accountancy of each state, and members agree to abide by the AICPA's Code of Professional Conduct and Bylaws.

    The ACCA is the largest global accountancy body with over 320,000 members, and the organisation provides an 'IFRS stream' and a 'UK stream'. Students must pass a total of 14 exams, which are arranged across three levels.[67]

    Research

    [edit]

    Accounting research is research in the effects of economic events on the process of accounting, the effects of reported information on economic events, and the roles of accounting in organizations and society.[68][69] It encompasses a broad range of research areas including financial accounting, management accounting, auditing and taxation.[70]

    Accounting research is carried out both by academic researchers and practicing accountants. Methodologies in academic accounting research include archival research, which examines "objective data collected from repositories"; experimental research, which examines data "the researcher gathered by administering treatments to subjects"; analytical research, which is "based on the act of formally modeling theories or substantiating ideas in mathematical terms"; interpretive research, which emphasizes the role of language, interpretation and understanding in accounting practice, "highlighting the symbolic structures and taken-for-granted themes which pattern the world in distinct ways"; critical research, which emphasizes the role of power and conflict in accounting practice; case studies; computer simulation; and field research.[71][72]

    Empirical studies document that leading accounting journals publish in total fewer research articles than comparable journals in economics and other business disciplines,[73] and consequently, accounting scholars[74] are relatively less successful in academic publishing than their business school peers.[75] Due to different publication rates between accounting and other business disciplines, a recent study based on academic author rankings concludes that the competitive value of a single publication in a top-ranked journal is highest in accounting and lowest in marketing.[76]

    Scandals

    [edit]

    The year 2001 witnessed a series of financial information frauds involving Enron, auditing firm Arthur Andersen, the telecommunications company WorldCom, Qwest and Sunbeam, among other well-known corporations. These problems highlighted the need to review the effectiveness of accounting standards, auditing regulations and corporate governance principles. In some cases, management manipulated the figures shown in financial reports to indicate a better economic performance. In others, tax and regulatory incentives encouraged over-leveraging of companies and decisions to bear extraordinary and unjustified risk.[77]

    The Enron scandal deeply influenced the development of new regulations to improve the reliability of financial reporting, and increased public awareness about the importance of having accounting standards that show the financial reality of companies and the objectivity and independence of auditing firms.[77]

    In addition to being the largest bankruptcy reorganization in American history, the Enron scandal undoubtedly is the biggest audit failure[78] causing the dissolution of Arthur Andersen, which at the time was one of the five largest accounting firms in the world. After a series of revelations involving irregular accounting procedures conducted throughout the 1990s, Enron filed for Chapter 11 bankruptcy protection in December 2001.[79]

    One consequence of these events was the passage of the Sarbanes–Oxley Act in the United States in 2002, as a result of the first admissions of fraudulent behavior made by Enron. The act significantly raises criminal penalties for securities fraud, for destroying, altering or fabricating records in federal investigations or any scheme or attempt to defraud shareholders.[80]

    Fraud and error

    [edit]

    Accounting fraud is an intentional misstatement or omission in the accounting records by management or employees which involves the use of deception. It is a criminal act and a breach of civil tort. It may involve collusion with third parties.[81]

    An accounting error is an unintentional misstatement or omission in the accounting records, for example misinterpretation of facts, mistakes in processing data, or oversights leading to incorrect estimates.[81] Acts leading to accounting errors are not criminal but may breach civil law, for example, the tort of negligence.

    The primary responsibility for the prevention and detection of fraud and errors rests with the entity's management.[81]

    See also

    [edit]

    References

    [edit]
    1. ^ a b c d e f Needles, Belverd E.; Powers, Marian (2013). Principles of Financial Accounting. Financial Accounting Series (12 ed.). Cengage Learning.
    2. ^ Accounting Research Bulletins No. 7 Reports of Committee on Terminology (Report). Committee on Accounting Procedure, American Institute of Accountants. November 1940. Archived from the original on 7 January 2014. Retrieved 31 December 2013.
    3. ^ "Department of Accounting". Foster School of Business. 2013. Archived from the original on 19 March 2015. Retrieved 31 December 2013.
    4. ^ a b Schipper, Katherine (2005). "The introduction of International Accounting Standards in Europe: Implications for international convergence". European Accounting Review. 14. Taylor & Francis Online: 101–126. doi:10.1080/0963818042000338013. S2CID 153931720. Archived from the original on 3 April 2023. Retrieved 3 April 2023.
    5. ^ a b Weber, Richard P., and W. C. Stevenson. 1981. "Evaluations of Accounting Journal and Department Quality." The Accounting Review 56 (3): 596–612.
    6. ^ a b c d e f g Horngren, Charles T.; Datar, Srikant M.; Foster, George (2006), Cost Accounting: A Managerial Emphasis (12th ed.), New Jersey: Pearson Prentice Hall
    7. ^ Lung, Henry (2009). Fundamentals of Financial Accounting. Elsevier.
    8. ^ DIWAN, Jaswith. ACCOUNTING CONCEPTS & THEORIES. LONDON: MORRE. pp. 001–002. id# 94452.
    9. ^ a b "Auditors: Market concentration and their role, CHAPTER 1: Introduction". UK Parliament. House of Lords. 2011. Archived from the original on 29 July 2022. Retrieved 1 January 2014.
    10. ^ a b "The move towards global standards". ifrs.org. IFRS Foundation and International Accounting Standards Board. 2011. Archived from the original on 25 December 2011. Retrieved 27 April 2012.
    11. ^ "The importance of high quality accounting standards". Archived from the original on 3 April 2023. Retrieved 3 April 2023 – via ProQuest.
    12. ^ a b Robson, Keith. 1992. "Accounting Numbers as 'inscription': Action at a Distance and the Development of Accounting." Accounting, Organizations and Society 17 (7): 685–708.
    13. ^ a b A History of ACCOUNTANCY, New York State Society of CPAs, November 2003, archived from the original on 1 January 2015, retrieved 28 December 2013
    14. ^ The History of Accounting, University of South Australia, 30 April 2013, archived from the original on 28 December 2013, retrieved 28 December 2013
    15. ^ کشاورزی, کیخسرو (1980). تاریخ ایران از زمان باستان تا امروز (Translated from Russian by Grantovsky, E.A.) (in Persian). pp. 39–40.
    16. ^ Oldroyd, David & Dobie, Alisdair: Themes in the history of bookkeeping, The Routledge Companion to Accounting History, London, July 2008, ISBN 978-0-415-41094-6, Chapter 5, p. 96
    17. ^ Oldroyd, David (December 1995). "The role of accounting in public expenditure and monetary policy in the first century AD Roman Empire". The Accounting Historians Journal. 22 (2). Academy of Accounting Historians: 117–129. doi:10.2308/0148-4184.22.2.117. JSTOR 40698165.
    18. ^ Parker, L. M., "Medieval Traders as International Change Agents: A Comparison with Twentieth Century International Accounting Firms", The Accounting Historians Journal, 16(2) (1989): 107–118.
    19. ^ Medieval Traders as International Change Agents: a Comment, Michael Scorgie, The Accounting Historians Journal, Vol. 21, No. 1 (June 1994), pp. 137–143
    20. ^ Hamid, Shaari; Craig, Russell; Clarke, Frank (January 1995). "Bookkeeping and accounting control systems in a tenth-century Muslim administrative office". Accounting, Business & Financial History. 5 (3): 321–333. doi:10.1080/09585209500000049.
    21. ^ Danna, Rafael (5–7 April 2019). "The spread of Hindu-Arabic numerals in the tradition of European practical mathematics: A socio-economic perspective, thirteenth-sixteenth centuries". Conference: The Economic History Society.
    22. ^ Heeffer, Albrecht (November 2009). "On the curious historical coincidence of algebra and double-entry bookkeeping" (PDF). Foundations of the Formal Sciences. Ghent University. p. 11. Archived (PDF) from the original on 9 October 2022.
    23. ^ Mariotti, Steve (12 July 2013). "So, Who Invented Double Entry Bookkeeping? Luca Pacioli or Benedikt Kotruljević?". Huffington Post. Archived from the original on 10 September 2017. Retrieved 3 August 2018.
    24. ^ Lauwers, Luc; Willekens, Marleen (1994). "Five Hundred Years of Bookkeeping: A Portrait of Luca Pacioli" (PDF download). Tijdschrift voor Economie en Management. XXXIX (3). KU Leuven: 302. Archived (PDF) from the original on 20 August 2011.
    25. ^ Timeline of the History of the Accountancy Profession, Institute of Chartered Accountants in England and Wales, 2013, archived from the original on 11 October 2014, retrieved 28 December 2013
    26. ^ Stephen A. Zeff (2003), "How the U.S. Accounting Profession Got Where It Is Today: Part I" (PDF), Accounting Horizons, 17 (3): 189–205, doi:10.2308/acch.2003.17.3.189, archived (PDF) from the original on 21 July 2022, retrieved 16 May 2020
    27. ^ Perks, R. W. (1993). Accounting and Society. London: Chapman & Hall. p. 16. ISBN 978-0-412-47330-2.
    28. ^ Labardin, Pierre, and Marc Nikitin. 2009. "Accounting and the Words to Tell It: An Historical Perspective." Accounting, Business & Financial History 19 (2): 149–166.
    29. ^ a b Baladouni, Vahé. 1984. "Etymological Observations on Some Accounting Terms." The Accounting Historians Journal 11 (2): 101–109.
    30. ^ Pixley, Francis William: Accountancy—constructive and recording accountancy (Sir Isaac Pitman & Sons, Ltd, London, 1900), p4
    31. ^ a b "accounting noun – definition in the Business English Dictionary". Cambridge Dictionaries Online. Cambridge University Press. 2013. Archived from the original on 2 July 2015. Retrieved 30 December 2013.
    32. ^ a b "accounting noun – definition in the British English Dictionary & Thesaurus". Cambridge Dictionaries Online. Cambridge University Press. 2013. Archived from the original on 2 November 2014. Retrieved 30 December 2013.
    33. ^ "accounting". Merriam-Webster. Merriam-Webster, Incorporated. 2013. Archived from the original on 23 July 2022. Retrieved 30 December 2013.
    34. ^ "accountancy". Merriam-Webster. Merriam-Webster, Incorporated. 2013. Archived from the original on 29 July 2022. Retrieved 30 December 2013.
    35. ^ "accountancy noun – definition in the Business English Dictionary". Cambridge Dictionaries Online. Cambridge University Press. 2013. Archived from the original on 19 October 2014. Retrieved 30 December 2013.
    36. ^ "accountancy noun – definition in the British English Dictionary & Thesaurus". Cambridge Dictionaries Online. Cambridge University Press. 2013. Archived from the original on 19 October 2014. Retrieved 30 December 2013.
    37. ^ King, I. (23 October 2014). "New set of accounting principles can help drive sustainable success". Financial Times. ft.com. Retrieved 28 January 2015.
    38. ^ "What is Intercompany Accounting? | F&A Glossary | BlackLine". www.blackline.com. Retrieved 16 August 2024.
    39. ^ Beaver, Scott (3 April 2024). "What Is Intercompany Accounting? Best Practices and Management". www.netsuite.com.
    40. ^ Baiman, Stanley. 1979. "Discussion of Auditing: Incentives and Truthful Reporting." Journal of Accounting Research 17: 25–29.
    41. ^ "Audit Definition". Investopedia. Investopedia US. 2013. Archived from the original on 26 July 2022. Retrieved 30 December 2013.
    42. ^ Tredinnick, Luke (March 2017). "Artificial intelligence and professional roles" (PDF). Business Information Review. 34 (1): 37–41. doi:10.1177/0266382117692621. S2CID 157743821. Archived (PDF) from the original on 9 October 2022.
    43. ^ "Responsibilities and Functions of the Independent Auditor" (PDF). AICPA. November 1972. Archived from the original (PDF) on 23 April 2021. Retrieved 30 December 2013.
    44. ^ "1.2 Accounting information systems". Introduction to the context of accounting. OpenLearn. Retrieved 3 February 2014.
    45. ^ Pathak, Jagdish; Lind, Mary R. (November 2003). "Audit Risk, Complex Technology, and Auditing Processes". EDPACS. 31 (5): 1–9. doi:10.1201/1079/43853.31.5.20031101/78844.1. S2CID 61767095.
    46. ^ a b Droms, William G.; Wright, Jay O. (2010), Finance and Accounting for nonfinancial Managers: All the Basics you need to Know (6th ed.), Basic Books
    47. ^ "What is a Forensic Accountant? | Forensic CPA Society". Retrieved 2 August 2023.
    48. ^ Wagman, Barry E. (March 1976). "Political campaign accounting—New opportunities for the CPA". Journal of Accountancy. 141 (3): 36. ProQuest 198258865.
    49. ^ "IFAC Members". ifac.org. Archived from the original on 10 March 2016. Retrieved 25 March 2016.
    50. ^ "Accounting Bodies Network". The Prince's Accounting for Sustainability Project. Archived from the original on 3 January 2014. Retrieved 3 January 2014.
    51. ^ "Getting Started". AICPA. 2014. Archived from the original on 7 January 2014. Retrieved 3 January 2014.
    52. ^ "The ACA Qualification". ICAEW. 2014. Archived from the original on 4 January 2014. Retrieved 3 January 2014.
    53. ^ "Auditors: Market concentration and their role, CHAPTER 2: Concentration in the audit market". UK Parliament. House of Lords. 2011. Archived from the original on 28 March 2022. Retrieved 1 January 2014.
    54. ^ "Definition of big four". Financial Times Lexicon. The Financial Times Ltd. 2014. Archived from the original on 2 January 2014. Retrieved 1 January 2014.
    55. ^ "IESBA | Ethics | Accounting | IFAC". ifac.org. Archived from the original on 26 May 2016. Retrieved 25 March 2016.
    56. ^ "IAESB | International Accounting Education Standards Board | IFAC". ifac.org. Archived from the original on 16 May 2016. Retrieved 25 March 2016.
    57. ^ "IPSASB | International Public Sector Accounting Standards Board | IFAC". ifac.org. Archived from the original on 27 May 2016. Retrieved 25 March 2016.
    58. ^ Knowledge guide to UK Accounting Standards, ICAEW, 2014, archived from the original on 18 November 2018, retrieved 1 January 2014
    59. ^ "How to Become an Accountant or Auditor". U.S. Bureau of Labor Statistics. United States Department of Labor. 2012. Archived from the original on 9 July 2022. Retrieved 31 December 2013.
    60. ^ "150 Hour Requirement for Obtaining CPA Certification". AICPA. 2013. Archived from the original on 29 July 2022. Retrieved 31 December 2013.
    61. ^ "Criteria for entry". CPA UK. 2013. Archived from the original on 19 August 2013. Retrieved 31 December 2013.
    62. ^ a b "Want a Career in Education? Here's What You Need to Know". AICPA. 2013. Archived from the original on 1 January 2014. Retrieved 31 December 2013.
    63. ^ "PhD Prep Track". BYU Accounting. 2013. Archived from the original on 5 May 2019. Retrieved 31 December 2013.
    64. ^ "Accountancy Qualifications at a Glance". ACCA. 2014. Archived from the original on 6 January 2014. Retrieved 4 January 2014.
    65. ^ Kyle, McHatton. "ICAS code of ethics". www.icas.com. Archived from the original on 18 October 2018. Retrieved 18 October 2018.
    66. ^ "ACA – The qualification of ICAEW Chartered Accountants". ICAEW. 2014. Archived from the original on 11 October 2013. Retrieved 4 January 2014.
    67. ^ "European Accounting Qualifications Explained | CareersinAudit.com". CareersinAudit.com. Archived from the original on 7 October 2018. Retrieved 13 December 2017.
    68. ^ The Relevance and Utility of Leading Accounting Research (PDF), The Association of Chartered Certified Accountants, 2010, archived from the original (PDF) on 27 December 2013, retrieved 27 December 2013
    69. ^ Burchell, S.; Clubb, C.; Hopwood, A.; Hughes, J.; Nahapiet, J. (1980). "The roles of accounting in organizations and society". Accounting, Organizations and Society. 5 (1): 5–27. doi:10.1016/0361-3682(80)90017-3.
    70. ^ Oler, Derek K., Mitchell J. Oler, and Christopher J. Skousen. 2010. "Characterizing Accounting Research." Accounting Horizons 24 (4): 635–670.
    71. ^ Coyne, Joshua G., Scott L. Summers, Brady Williams, and David a. Wood. 2010. "Accounting Program Research Rankings by Topical Area and Methodology." Issues in Accounting Education 25 (4) (November): 631–654.
    72. ^ Chua, Wai Fong (1986). "Radical developments in accounting thought". The Accounting Review. 61 (4): 601–632.
    73. ^ Buchheit, S.; Collins, D.; Reitenga, A. (2002). "A cross-discipline comparison of top-tier academic journal publication rates: 1997–1999". Journal of Accounting Education. 20 (2): 123–130. doi:10.1016/S0748-5751(02)00003-9.
    74. ^ Merigó, José M.; Yang, Jian-Bo (March 2017). "Accounting Research: A Bibliometric Analysis: Accounting Research: A Bibliometric Analysis". Australian Accounting Review. 27 (1): 71–100. doi:10.1111/auar.12109. Archived from the original on 30 December 2022. Retrieved 3 December 2022.
    75. ^ Swanson, Edward (2004). "Publishing in the majors: A comparison of accounting, finance, management, and marketing". Contemporary Accounting Research. 21: 223–255. doi:10.1506/RCKM-13FM-GK0E-3W50.
    76. ^ Korkeamäki, Timo; Sihvonen, Jukka; Vähämaa, Sami (2018). "Evaluating publications across business disciplines". Journal of Business Research. 84: 220–232. doi:10.1016/j.jbusres.2017.11.024.
    77. ^ a b Astrid Ayala and Giancarlo Ibárgüen Snr.: "A Market Proposal for Auditing the Financial Statements of Public Companies" (Journal of Management of Value, Universidad Francisco Marroquín, March 2006) p. 41, UFM.edu.gt
    78. ^ Bratton, William W. "Enron and the Dark Side of Shareholder Value" (Tulane Law Review, New Orleans, May 2002) p. 61
    79. ^ "Enron files for bankruptcy". BBC News. 3 December 2001. Archived from the original on 24 March 2022. Retrieved 15 March 2008.
    80. ^ Aiyesha Dey, and Thomas Z. Lys: "Trends in Earnings Management and Informativeness of Earnings Announcements in the Pre- and Post-Sarbanes Oxley Periods (Kellogg School of Management, Evanston, Illinois, February, 2005) p. 5
    81. ^ a b c 2018 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements, The International Auditing and Assurance Standards Board, December 2018
    [edit]

     

     

    North Vancouver
    The Corporation of the City of North Vancouver
    Nickname: 
    North Van
    Location of the City of North Vancouver in Metro Vancouver
    Location of the City of North Vancouver in Metro Vancouver
    Coordinates: 49°19′N 123°4′W / 49.317°N 123.067°W / 49.317; -123.067
    Country Canada
    Province British Columbia
    Regional district Metro Vancouver
    Incorporated May 13, 1907[1]
    Seat North Vancouver City Hall
    Government
     • Type Mayor-council government
     • Mayor Linda Buchanan
     • Council
    List of councillors
     • MP Jonathan Wilkinson (Liberal)
     • MLA Bowinn Ma (BC NDP)
    Area
     • Land 11.83 km2 (4.57 sq mi)
    Elevation
     
    80 m (260 ft)
    Population
     (2021)[3]
     • Total
    58,120
     • Estimate 
    (2023)[4]
    64,847
     • Density 4,913.0/km2 (12,725/sq mi)
    Demonym North Vancouverite
    Time zone UTC-8 (PST)
     • Summer (DST) UTC-7 (PDT)
    Forward sortation area
    Area codes 604, 778, 236, 672
    Website cnv.org Edit this at Wikidata

    The City of North Vancouver is a city municipality on the North Shore of the Burrard Inlet, in British Columbia, Canada. Anchored by the downtown town centre of Lonsdale, with which its urban core is largely synonymous, it consists of the smallest and most urbanized of the communities situated north of the city of Vancouver, and is part of the Metro Vancouver regional district, though it has significant industry of its own – including shipping, chemical production, and film production. The city is served by the Royal Canadian Mounted Police, British Columbia Ambulance Service, and the North Vancouver City Fire Department.

    History

    [edit]

    In the 1880s, Arthur Heywood-Lonsdale and a relation James Pemberton Fell, made substantial investments through their company, Lonsdale Estates, and in 1882 he financed the Moodyville investments. Several locations in the North Vancouver area are named after Lonsdale and his family.[5]

    Not long after the District of North Vancouver was formed, an early land developer and second reeve of the new council, James Cooper Keith, personally underwrote a loan[6] to commence construction of a road which undulated from West Vancouver to Deep Cove amid the slashed sidehills, swamps, and burnt stumps. The road, sometimes under different names and not always contiguous, is still one of the most important east-west thoroughfare carrying traffic across the North Shore.

    Development was slow at the outset. The population of the district in the 1901 census was only 365 people.[6] Keith joined Edwin Mahon and together they controlled North Vancouver Land & Improvement Company. Soon the pace of development around the foot of Lonsdale began to pick up. The first school was opened in 1902. The district was able to build a municipal hall in 1903 and actually have meetings in North Vancouver (instead of in Vancouver where most of the landowners lived).[citation needed] The first bank and first newspaper arrived in 1905. In 1906 the BC Electric Railway Company opened up a street car line that extended from the ferry wharf up Lonsdale to 12th Street. By 1911 the streetcar system extended west to the Capilano River and east to Lynn Valley.[citation needed]

    The owners of businesses who operated on Lonsdale, as part of an initiative led by Keith and Mahon, brought a petition to the district council in 1905, calling for a new, compact city to be carved out of the unwieldy district.[citation needed]

    During the ensuing two years there was much and sometimes heated debate. Some thought the new city should have a new name such as Northport, Hillmont or Parkhill. Burrard became the favourite of the new names but majority view was that North Vancouver remain in order to remain associated with the rising credibility of Vancouver in financial markets and as a place to attract immigrants.[7]

    Some thought the boundary of the new city should reflect geography and extend from Lynn Creek or Seymour River west to the Capilano River and extend three miles up the mountainside.[citation needed] That the boundary of the city which came into existence in 1907 just happened to match that of the lands owned by the North Vancouver Land & Improvement Company and Lonsdale Estate was no accident. Since the motivation for creating the city was to reserve local tax revenue for the work of putting in services for the property owned by the major developers, there was little reason to take on any of the burden beyond the extent of their holdings.[citation needed]

    Residents in west part of the District of North Vancouver now had less reason to be connected with what remained and they petitioned to create the District of West Vancouver (the west part of the North Shore, not the west side of Vancouver) in 1912.[citation needed] The eastern boundary of that new municipality is for the most part the Capilano River and a community that is easily distinguished from the two North Vancouvers has since developed.

    Keith Road looking west, with Hollyburn Mtn in the distance

    The City of North Vancouver continued to grow around the foot of Lonsdale Avenue. Serviced by the North Vancouver Ferries, it proved a popular area. Commuters used the ferries to work in Vancouver. Street cars and early land speculation, spurred interest in the area. Streets, city blocks and houses were slowly built around lower Lonsdale. Wallace Shipyards, and the Pacific Great Eastern Railway provided an industrial base, although, the late arrival of the Second Narrows railway bridge in 1925 controlled development.

    City of North Vancouver as seen from Upper Lonsdale

    The Depression again bankrupted the city, while the Second World War turned North Vancouver into the Clydeside of Canada with a large shipbuilding program. Housing the shipyard workers provided a new building boom, which continued on through the post-war years. By that time, North Vancouver became a popular housing area.

    Geography

    [edit]
    Main thoroughfare Lonsdale Avenue with Mount Fromme in the background

    The City of North Vancouver is separated from Vancouver by the Burrard Inlet, and it is surrounded on three sides by the District of North Vancouver. The city has much in common with the district and with West Vancouver; together, the three are commonly referred to as the North Shore.

    The City of North Vancouver is relatively densely populated with a number of residential high-rise buildings in the Central Lonsdale and Lower Lonsdale areas.

    The North Shore mountains have many drainages: Capilano River, MacKay, Mosquito, and Lynn Creeks, and Seymour River.

    Climate

    [edit]

    North Vancouver has an oceanic climate (Köppen Cfb) with cool, rainy winters and dry, warm summers.

    Climate data for North Vancouver (N Vancouver 2ND Narrows) (Elevation: 4m) 1981−2010
    Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
    Average precipitation mm (inches) 262.2
    (10.32)
    172.3
    (6.78)
    168.4
    (6.63)
    136.3
    (5.37)
    103.3
    (4.07)
    82.5
    (3.25)
    53.2
    (2.09)
    54.9
    (2.16)
    76.8
    (3.02)
    189.0
    (7.44)
    293.4
    (11.55)
    238.6
    (9.39)
    1,830.8
    (72.08)
    Average rainfall mm (inches) 255.3
    (10.05)
    167.7
    (6.60)
    166.8
    (6.57)
    136.1
    (5.36)
    103.3
    (4.07)
    82.5
    (3.25)
    53.2
    (2.09)
    54.9
    (2.16)
    76.8
    (3.02)
    189.0
    (7.44)
    290.2
    (11.43)
    229.9
    (9.05)
    1,805.6
    (71.09)
    Average snowfall cm (inches) 6.9
    (2.7)
    5.2
    (2.0)
    1.6
    (0.6)
    0.2
    (0.1)
    0.0
    (0.0)
    0.0
    (0.0)
    0.0
    (0.0)
    0.0
    (0.0)
    0.0
    (0.0)
    0.1
    (0.0)
    2.3
    (0.9)
    8.7
    (3.4)
    24.9
    (9.8)
    Average precipitation days (≥ 0.2 mm) 20.5 15.5 18.0 15.4 13.8 11.7 7.4 6.7 9.6 16.1 20.9 20.3 175.9
    Average rainy days (≥ 0.2 mm) 19.7 15.1 17.9 15.4 13.8 11.7 7.4 6.7 9.6 16.0 20.7 19.6 173.5
    Average snowy days (≥ 0.2 cm) 1.7 0.92 0.54 0.12 0.0 0.0 0.0 0.0 0.0 0.08 0.72 2.2 6.2
    Source: Environment Canada (normals, 1981−2010)[8]

    Politics

    [edit]
    Mayor Linda Buchanan (2018, 2022)
    Councillors Holly Back (2018, 2022), Don Bell (2011, 2014, 2018, 2022), Angela Girard (2018, 2022), Jessica McIlroy (2018, 2022), Tony Valente (2018, 2022), Shervin Shahriari (2022)
    Provincial MLA Bowinn Ma (North Vancouver-Lonsdale)
    MP Jonathan Wilkinson (North Vancouver)

    Sites of interest

    [edit]

    The area around lower Lonsdale Avenue features several open community spaces, including Waterfront Park, Lonsdale Quay, Ship Builders Square and the Burrard Dry Dock Pier.

    Other sites of interest in the city include:[9][10][11]

    • Centennial Theatre, 2300 Lonsdale Avenue
    • First Church of Christ, Scientist, a local heritage site
    • The Museum and Archives of North Vancouver
    • The Polygon Gallery
    • Presentation House Theatre, 333 Chesterfield Avenue
    • St. Edmund's Church, 535 Mahon Avenue, a local heritage site
    • Trans Canada Trail Pavilion, Waterfront Park
    • The Shipyards, near Lonsdale Quay, which includes Ship Builders Square and the Burrard Dry Dock Pier, on the site of the old Wallace Shipyard
    • Lonsdale Quay Market, easily accessible from the Seabus. The Quay has a view of Vancouver's skyline and is locally owned and operated.

    Transportation

    [edit]
    Lonsdale Avenue at 13th Street is a major intersection of Central Lonsdale.

    The City of North Vancouver is connected to Vancouver by two highway bridges (the Lions Gate Bridge and the Ironworkers Memorial Second Narrows Crossing) and by a passenger ferry, the SeaBus. That system and the bus system in North Vancouver is operated by Coast Mountain Bus Company, an operating company of TransLink. The hub of the bus system is Lonsdale Quay, the location of the SeaBus terminal. Currently, there is no rail transit service on the North Shore.

    The main street in the city is Lonsdale Avenue, which begins at Lonsdale Quay and goes north to 29th Street, where it continues in the District of North Vancouver, ending at Rockland Road.

    Highway 1, the Trans-Canada Highway (often referred to as the "Upper Levels Highway") passes through the northern portion of the city. It is a freeway for its entire length within the City of North Vancouver. There are six interchanges on Highway 1 within the City of North Vancouver:

    • Main Street/Dollarton Highway (Exit 23)
    • Mountain Highway and Mt Seymour Parkway (Exit 21/22)
    • Lynn Valley Road (Exit 19)
    • Lonsdale Avenue (Exit 18)
    • Westview Drive (Exit 17)
    • Capilano Road (Exit 14)

    Education

    [edit]

    Public schools are managed by the North Vancouver School District, which operates 8 high schools and 30 elementary schools shared by the city and the District of North Vancouver.

    The Conseil scolaire francophone de la Colombie-Britannique operates one Francophone school in that city: école André-Piolat, which has both primary and secondary levels.[12]

    There are also several independent private elementary and high schools in the area, including Bodwell High School and Lions Gate Christian Academy.

    Post-secondary education is available at Capilano University in the district, as well as at Simon Fraser University and the University of British Columbia in neighbouring communities.

    Demographics

    [edit]
    Historical populations
    Year Pop. ±%
    1911 8,196 —    
    1921 7,652 −6.6%
    1931 8,510 +11.2%
    1941 8,914 +4.7%
    1951 15,687 +76.0%
    1961 23,656 +50.8%
    1971 31,847 +34.6%
    1981 33,640 +5.6%
    1991 41,475 +23.3%
    2001 44,303 +6.8%
    2006 45,165 +1.9%
    2011 48,196 +6.7%
    2016 52,898 +9.8%
    2021 58,120 +9.9%

    In the 2021 Census of Population conducted by Statistics Canada, North Vancouver had a population of 58,120 living in 27,293 of its 29,021 total private dwellings, a change of 9.9% from its 2016 population of 52,898. With a land area of 11.83 km2 (4.57 sq mi), it had a population density of 4,912.9/km2 (12,724.4/sq mi) in 2021.[3]

    As of the 2011 census, the median age was 41.2 years old, which is a bit higher than the national median age at 40.6 years old. There are 24,206 private dwellings with an occupancy rate of 94.1%. According to the 2011 National Household Survey, the median value of a dwelling in North Vancouver is $599,985 which is significantly higher than the national average at $280,552. The median household income (after-taxes) in North Vancouver is $52,794, a bit lower than the national average at $54,089.

    Ethnicity

    [edit]

    North Vancouver has one of the highest Middle Eastern[a] population ratios for any Canadian city at 11.3% as of 2021, with the vast majority being Persian.[13]

    Panethnic groups in the City of North Vancouver (2001−2021)
    Panethnic
    group
    2021[13] 2016[14] 2011[15] 2006[16] 2001[17]
    Pop. % Pop. % Pop. % Pop. % Pop. %
    European[b] 35,420 61.59% 34,695 66.48% 32,800 68.78% 32,160 71.69% 32,960 75.03%
    Middle Eastern[a] 6,510 11.32% 4,575 8.77% 3,655 7.66% 3,155 7.03% 3,015 6.86%
    East Asian[c] 5,195 9.03% 4,260 8.16% 3,775 7.92% 3,995 8.91% 3,255 7.41%
    Southeast Asian[d] 4,220 7.34% 3,715 7.12% 3,470 7.28% 2,150 4.79% 1,650 3.76%
    South Asian 2,100 3.65% 1,840 3.53% 1,475 3.09% 1,340 2.99% 980 2.23%
    Indigenous 1,230 2.14% 1,150 2.2% 970 2.03% 925 2.06% 1,015 2.31%
    Latin American 1,210 2.1% 840 1.61% 585 1.23% 430 0.96% 470 1.07%
    African 550 0.96% 485 0.93% 390 0.82% 315 0.7% 315 0.72%
    Other[e] 1,075 1.87% 630 1.21% 575 1.21% 385 0.86% 275 0.63%
    Total responses 57,505 98.94% 52,185 98.65% 47,685 98.94% 44,860 99.32% 43,930 99.16%
    Total population 58,120 100% 52,898 100% 48,196 100% 45,165 100% 44,303 100%
    • Note: Totals greater than 100% due to multiple origin responses.
     

    Languages

    [edit]

    Mother languages as reported by each person:

    Canada 2021 Census[13]
    Mother language Population % of Total Population % of Non-official language Population
    English 35,520 61.4% N/A
    Persian 5,760 10.0% 31.1%
    Tagalog 1,675 2.9% 9.0%
    Chinese Languages 1,670 2.9% 9.0%
    Spanish 1,245 2.2% 6.7%
    Korean 1,135 6.1% 6.1%
    French 980 1.7% N/A
    German 575 1.0% 3.1%

    3.1% of North Vancouver residents listed both English and a non-official language as mother tongues.

    Religion

    [edit]

    According to the 2021 census, religious groups in North Vancouver included:[13]

    Notes

    [edit]
    1. ^ a b Statistic includes total responses of "West Asian" and "Arab" under visible minority section on census.
    2. ^ Statistic includes all persons that did not make up part of a visible minority or an indigenous identity.
    3. ^ Statistic includes total responses of "Chinese", "Korean", and "Japanese" under visible minority section on census.
    4. ^ Statistic includes total responses of "Filipino" and "Southeast Asian" under visible minority section on census.
    5. ^ Statistic includes total responses of "Visible minority, n.i.e." and "Multiple visible minorities" under visible minority section on census.

    References

    [edit]
    1. ^ "CivicInfo BC | Municipality: North Vancouver (City)". www.civicinfo.bc.ca. Archived from the original on 25 September 2022. Retrieved 19 August 2022.
    2. ^ "Mayor & Council | City of North Vancouver". www.cnv.org. Archived from the original on 19 August 2022. Retrieved 19 August 2022.
    3. ^ a b c "Profile table, Census Profile, 2021 Census of Population - North Vancouver, City (CY) [Census subdivision], British Columbia". Statistics Canada. 17 August 2022. Retrieved 21 August 2022.
    4. ^ Services, Ministry of Citizens'. "Population Estimates - Province of British Columbia". www2.gov.bc.ca. Archived from the original on 3 July 2024. Retrieved 4 July 2024.
    5. ^ Canada North Shore News
    6. ^ a b Francis, Daniel (2016). Where Mountains Meet the Sea. Harbour Publishing Co. P.O. Box 219, Madeira Park, BC V0N 2H0: Harbour Publishing. p. 77. ISBN 978-1-55017-751-0.cite book: CS1 maint: location (link)
    7. ^ Sommer, Warren (2007). The Ambitious City: A History of the City of North Vancouver. Madeira Park, BC V0N 2H0: Harbour Publishing. pp. 64, 83, 93, 94. ISBN 978-1-55017-411-3.cite book: CS1 maint: location (link)
    8. ^ "N VANCOUVER 2ND NARROWS]". Canadian Climate Normals 1981−2010. 25 September 2013. Archived from the original on 27 March 2018. Retrieved 26 March 2018.
    9. ^ "HistoricPlaces.ca - Recherche". www.historicplaces.ca. Archived from the original on 27 November 2021. Retrieved 19 August 2022.
    10. ^ "Attractions in North Vancouver". Archived from the original on 23 July 2012. Retrieved 25 May 2009.
    11. ^ "Primary Buildings". Archived from the original on 19 August 2007.
    12. ^ "Carte des écoles Archived 17 August 2015 at the Wayback Machine." Conseil scolaire francophone de la Colombie-Britannique. Retrieved on 22 January 2015.
    13. ^ a b c d Government of Canada, Statistics Canada (26 October 2022). "Census Profile, 2021 Census of Population". www12.statcan.gc.ca. Archived from the original on 10 November 2022. Retrieved 9 November 2022.
    14. ^ Government of Canada, Statistics Canada (27 October 2021). "Census Profile, 2016 Census". www12.statcan.gc.ca. Archived from the original on 27 December 2022. Retrieved 26 December 2022.
    15. ^ Government of Canada, Statistics Canada (27 November 2015). "NHS Profile". www12.statcan.gc.ca. Archived from the original on 27 December 2022. Retrieved 26 December 2022.
    16. ^ Government of Canada, Statistics Canada (20 August 2019). "2006 Community Profiles". www12.statcan.gc.ca. Archived from the original on 27 December 2022. Retrieved 26 December 2022.
    17. ^ Government of Canada, Statistics Canada (2 July 2019). "2001 Community Profiles". www12.statcan.gc.ca. Archived from the original on 27 December 2022. Retrieved 26 December 2022.
    [edit]

     

    Frequently Asked Questions

    Yes, IBB Accounting & Tax Services participates in community outreach and pro bono work, supporting local North Vancouver non-profits and small businesses. They're committed to giving back and helping these organizations thrive financially.

    Yes, IBB can help you navigate international tax issues as you expand your North Vancouver business overseas. They offer expertise to ensure you comply with global tax laws and optimize your financial strategy.

    Yes, you can ask the firm for references or testimonials from clients in similar situations to yours. They'll likely share success stories to help you feel confident in their ability to meet your specific needs.