CPA Financial Literacy Program

The economic global landscape has been in flux over the past two years. While BC’s economy recovered robustly in 2021 and has remained relatively strong into 2022, there are growing concerns for a potential economic downturn.

Three CPAs from the LGBTQ2SIA+ community share their professional journey and how the profession has progressed in terms of diversity and inclusion.

VANCOUVER, June 23, 2022 – The Chartered Professional Accountants of British Columbia (CPABC) held its seventh Annual General Meeting virtually on June 22, 2022 and announced its Board of Directors for fiscal year 2022/2023.

VANCOUVER, June 20, 2022 –  According to BC Check-Up: Live, an annual report by the Chartered Professional Accountants of British Columbia (CPABC) on demographic and affordability trends across the province, B.C.’s population growth continued to decline into 2021.

Working with Indigenous businesses is becoming more common for companies in BC. Here’s my personal experience working as a Cree Métis accountant, along with some ways that you can start working with Indigenous businesses. 

Did you know that according to research, people who read daily will live longer? Books will also open doors of opportunity as they’ll teach you different life and career lessons by seizing knowledge from people who have succeeded in doing it. 

Relationships are just as important in our professional life as they are in our personal life. Positive interactions with our colleagues not only drive productivity, they also make us enjoy coming to work.

Proven demand in the job market and enhanced soft skills will help CPAs land that next position, no matter what career stage they’re at.

Canada’s inflation rate reached 6.8%  as of April 2022, a huge jump compared to the 1.3% and 1.9% recorded in 2021 and 2020 respectively. 

By now, we’ve all heard of the “great resignation”—or, as I like to call it, the “great awakening.” During the pandemic, a lot of people have awakened to what’s truly important to them.

The ability to negotiate effectively is extremely important in our professional and personal worlds. When it comes to the workplace, competence in negotiating can be a key differentiator in the value you offer to their team.

Jane is otherwise known as Organized Jane, and she helps individuals and businesses declutter, organize processes, and reduce overwhelm both in their personal and professional lives.

When trying to communicate the message behind the numbers, many financial professionals miss the mark. Fortunately, there are some readily available tools—data visuals, or “dataviz” for short—that can help you communicate financial analyses effectively.

When planned carefully, making charitable contributions by gifting life insurance can further reduce the after-tax cost of giving from the base-case scenario.

What distinguishes high-performing organizations from others? Oftentimes, team members have strong awareness of what it takes to play a constructive role as a member of their high-performing team.

This year, CPABC honoured Olin Anton, FCPA, FCA with the Lifetime Achievement Award in recognition of his dedication, commitment, and outstanding contribution to the CPA profession and community. 

Longer hours. More emails. First-time projects. New tech. During the switch to remote, then hybrid work, these efforts enabled many teams to maintain or even improve  their productivity.

Targeted efforts to attract and retain today’s workers will mean little if leaders don’t also identify and root out toxic behaviour.

These are turbulent times. Leaders at every level are facing a new reality that continues to evolve. The challenge of meeting new demands and expectations is extraordinary.

Working through the pandemic has forced employees to adapt, and they’re emerging from this transformative experience with new expectations for the office. To meet these expectations, employers will need to reimagine the workplace to allow for more flexibility, autonomy, and community-building.

A look at the results of CPABC's Mental Wellness survey

May is Asian Heritage Month. To commemorate it, we spoke with three CPAs of Asian descent to hear how their heritage has influenced them as Canadians and professional accountants. 

The COVID-19 pandemic has taken a toll on the mental wellbeing of many people. According to a Statistics Canada  survey on COVID-19 and mental health conducted in 2021, one-in-four Canadians aged 18 and older screened positive for symptoms of depression, anxiety, or posttraumatic stress disorder (or PTSD), up from one-in-five in 2020.

For Adam Karim, CPA, getting his accounting designation was an important stepping stone to his ultimate goal.

It’s easy to walk into a bank branch or contact a discount brokerage, open an investment account, deposit money and buy investment products. People buy stocks, mutual funds, GICs and bonds every day in investment accounts, but the question is: what’s your plan?

“If you look back at those tough moments in your life, you realize they were often the key turning points to going higher,” says Victor Giacomin, FCPA, FCA, senior vice-president of finance and group treasurer at Mark Anthony Group.

Donating your time and expertise to a not-for-profit organization can have big benefits for both of you.

An economic update on consumer spending, growing labour shortages, and inflationary and interest rate pressures.

Livleen Veslemes wasn’t necessarily looking for her next career opportunity. In fact, the award-winning Vancouver businesswoman had purposely stepped away from her previous, extraordinarily successful position – as CEO of biomedical company bioLytical – in 2020 to prioritize her health and family life.

Saying hi to a stranger or making giving back a business priority – there are countless ways we can make a positive difference. Our actions, big or small, can have a substantial impact.

ESG has gone from being an area of focus for a small number of organizations to something that is very mainstream. And we have seen an incredible shift towards ESG, both in terms of society at large, and also businesses seeing ESG as fundamental to how they operate and how they engage with their stakeholders. It’s fair to say that ESG is now business-critical and that recognition is becoming more and more widespread.

When one thinks of accounting, there are often generalizations that come along with the career path.But accountants actually work in all kinds of roles — operating as a businesses’ most intrinsic function.

As Canadians wrap up their personal income tax filings, it’s time for small business owners to focus on preparing their taxes as well. The deadline for self-employed individuals to file tax returns is June 15, 2022, and payment is due on May 2. 

Jimmy Vaiopoulos’ first passion was engineering, a passion that led to him obtaining his CPA designation and pursuing a career working with leading-edge technology and companies. 

A conversation with Neelam Sahota, FCPA, FCGA, CEO of DIVERSEcity, a local registered charity that assists newcomers and diverse communities with settlement, language, and employment services.

Did you know that March is Fraud Prevention Month in Canada? This is a time to educate or refresh ourselves on the types of fraud being practiced and how we can protect ourselves.

Responsible investment  has been around for 20 years. What began as corporate social responsibility, and has grown considerably in recent years towards the more holistic concept of environmental, social, and corporate governance, commonly known as ESG. 

An employee stock option plan could make up a substantial part of an employee’s total compensation package and provide them with a valuable tax deferral.

The Enron scandal led to the demise of one of the world’s largest accounting firms and triggered the most significant changes in the accounting profession in 100 years.

According to recently surveyed Canadian CEOs, 43% expect to adopt a hybrid work model. So, what are the long-term implications of this monumental shift?

Nelson Soh has always been good with numbers and interested in business. So after graduating from UBC with a Bachelor of Commerce in Accounting, he attained his CPA designation while working for KPMG. Inspired to pursue his passion for helping people improve personally, professionally, and financially, he co-founded FSQ Consulting. 

CPABC’s latest report highlights strong investment recovery across BC, but challenges remain

How does gender equality – or a lack of it – show up in your world?

Five CPA executives share their insights

It takes a lot to successfully compete in the plant-based foods market – the right products, the right vision and the right people.

According to CPABC, there were 152,048 active businesses in November 2021, a 2.3 per cent increase compared to January 2020.

When Jamie Kirwin, CPA, CA, was invited to try the “hard” kombucha that Valli Manickam, a friend of a friend, had been fermenting in her kitchen, she didn’t yet realize that she was experiencing an introductory taste of her future.

The new Competency Map lays the foundation for the CPA certification program. 
 

It’s become common practice for organizations to use a cloud service to store data, ranging from employee and workplace information, work files, to client data. 

The ideal career is one that’s malleable and allows you to carve your own path as you continue to learn, grow, and evolve. 

CPABC recognizes the budget’s focus on skills training, record capital investment, and enhancing connectivity to remote communities.

With the extreme weather we’ve experienced in BC throughout 2021, it is evident that everyone has a role to play in ensuring environmental sustainability for the future. 

CPABC is pleased to present Jennifer Cudlipp, CPA, CGA and Edward Pereira, CPA, CGA with the Distinguished Service Award.

This year marks yet another pandemic tax season. And just like last year, when you file your personal income taxes for 2021, it will be important to note some changes in how federal COVID-19 benefits affect your taxes.

Penticton’s Jane Long-Haggerty, CPA, CA has been recognized with an Early Achievement Award by the Chartered Professional Accountants of British Columbia.

CPABC is pleased to honour Victoria’s Lenora Lee, FCPA, FCA and Carolyn Rogers, FCPA, FCMA with a fellowship designation (FCPA).

CPABC is proud to honour Olin Anton, FCPA, FCA with a Lifetime Achievement Award.

CPABC is pleased to honour nine Vancouver-based chartered professional accountants with a fellowship designation (FCPA).

CPABC is pleased to honour Prince George’s Stanley (Stan) Mitchell, FCPA, FCA with a fellowship designation (FCPA).

There’s one type of romance fraud that’s quickly trending: CryptoRom. And this is one dating profile you definitely want to swipe left for.

The 2021 tax season is in full swing and you have until May 2, 2022 to file your income tax return to avoid any penalties. To help you through what may seem like a daunting task, here are five tips to guide you through this tax season and in future years.

For the third consecutive year, the Chartered Professional Accountants of British Columbia (CPABC) has been recognized as one of B.C.’s Top Employers.

Often when I teach sessions on wiring the brain for high-impact leadership, attendees will ask, “How do I become a better leader?” But I think that’s the wrong question to ask.

Three common pitfalls and how to avoid them

When you graduate from university, it can be difficult to know what career path you want to take for the rest of your life. The thought alone can feel both overwhelming and intimidating.

With the new year comes the start of a new tax season. As you begin to think about your financial goals and your personal income tax filing for the 2020 tax year, it’s important to be aware of how RRSPs and TFSAs can benefit you. 

From income tax updates to personal productivity – and many subjects in between – here are some resources to help you stay up-to-date as you take on 2022. 

Harnessing the power of a multi-generational workforce

As 2021 came to an end, BC’s unemployment rate stood at 5.3% in December. That was a small decline from 5.6%  in November and well below the 8.0% rate at the start of 2021. 

How a radical business model is changing the goal for business

As ethical leaders and trusted advisors, CPAs rely on professional skills, values, ethics and attitudes to serve their organizations and clients.

One thing that’s been clear since the start of the pandemic is the importance of being agile and adaptable to change. Based on the past two years, we all know it’s impossible to predict how things will evolve.

More organizational communication is written than you may think. Decisions, tasks, and knowledge are largely reliant on writing, so being able to communicate effectively in writing remains a vital job skill—particularly now, when so many people work remotely.

Julien Francois has always been adaptable to change – an attribute that has proven to be particularly beneficial to his role in helping his company, STN Video, navigate through COVID-19. 

Meet the BC writers who excelled on the September 2021 CFE

The provincial government added the current temporary BC PST Rebate on Select Machinery and Equipment to its roster of COVID-19 tax incentives and benefits in March 2021. Since then, the BC Ministry of Finance has continued to update its webpage on the temporary rebate as additional details have become available.

David Bowra, FCPA, FCA, didn’t have to look far to find inspiration for his debut crime novel, Banking on Murder.

In November 2021, BC’s unemployment rate stood at 5.6%, remaining the same as in October. While BC’s unemployment rate remains well above the 4.6% set in January 2020, it has decreased considerably from 8.0% in January 2021, and 13.4% in May 2020, the peak of unemployment during the pandemic. 

Despite loving my career, there is an aspect of my role I down-right despise: paperwork. Like me, you may feel a chill run down your spine when you hear this word.

If you wish to sell capital property and apply the gains or losses to your 2021 tax return, your captial property transcations must be complete by December 31. We explain how this works. 

As the end of 2021 approaches, so is the time for you to review how you can reap all of your potential financial benefits from this past calendar year.

To gauge what emerging trends to expect this holiday season, PwC Canada recently surveyed Canadian consumers and released its 2021 Canadian Holiday Outlook report.

The Chartered Professional Accountants of British Columbia (CPABC) and the CPA Western School of Business (CPAWSB) congratulate the 812 B.C. Chartered Professional Accountants (CPA) candidates who passed the multi-day national Common Final Examination (CFE) written in September 2021. The exam was administered by CPAWSB.

The Chartered Professional Accountants of British Columbia (CPABC) congratulates Sarah Wang of Vancouver, who was the Western Regional Gold Medalist for the September 2021 Common Final Exam (CFE). The exam was administered by the CPA Western School of Business (CPAWSB).

The tax season always seems to come up and surprise us. And since many Canadians find doing their taxes stressful, keeping track of what you need to know is all the more important to minimize anxiety in the process. 

The issue of inflation continues to be significant for employee benefits, as there continues to be pressure on businesses to maintain these plans.

We are living in a volatile world and many of us are experiencing feelings such as anxiety and confusion more frequently than in the past. 

CPAs in Canada are bound by a strict requirement of confidentiality that applies to all aspects of their professional work. In BC, the CPABC Code of Professional Conduct outlines the requirements and provides registrants with extensive guidance on this topic. In this article, we cover the major confidentiality rules in the CPA Code, describe situations that are prone to potential breaches of confidentiality, and provide some cautionary examples.

Succession planning is an important consideration for the founders and owners of family businesses, and the tax strategies available for selling shares to and purchasing shares from a third party versus a related party can vary significantly. Bill C-208 is intended to give families more flexibility to access certain tax advantages to facilitate intergenerational transfers of shares of small family businesses.

Canada’s CPA profession has always sought to collaborate on issues of national importance, and always in the public interest. One area of collective focus has been digital transformation, with an emphasis on member-facing initiatives.

CPABC's BC Check-Up: Work report looks at emerging employment trends across the province.

An expert presenter and thought leader on the intersection of accounting and technology, Garrett provides guidance to finance professionals worldwide on how to thrive in this digital age. 

COVID-19 impacts have put financial pressure on many businesses and not-for-profit organizations, especially in certain sectors, resulting in reduced revenues and cash pressures. And while the government has provided substantial funding assistance since the pandemic started, this support is now in sunset mode, which means more CPAs will likely have to help their employers or clients manage through cash difficulties.

Joanne YH Liu, CPA, CGA, PFP, will be presenting "Managing Your Finances in Retirement" on November 10.

The Internet is filled with financial “tips” that can be more myth than truth. Whether you encounter them via YouTube, TikTok, Instagram, Reddit, or Facebook, it’s very important to validate financial tips by doing your own research and speaking to a professional, such as a CPA or a financial advisor. 

When was the last time you actively planned for an event that was 40 or even 50 years away? Chances are, you didn’t. 

Meeting our needs and goals later in life depends in large part on successfully saving for retirement, but with approximately 70 per cent of Canadians worried they won’t save enough for retirement and one third of Canadians having no retirement savings at all, it’s worth taking a look at strategies that can help us save for the day when we no longer have a work income. 

The world has changed. Trends that took hold during the pandemic will continue, and will continue to impact every industry, sector and company. 

Having a strong cybersecurity framework in place is more essential than ever. 

BC’s workforce has slightly exceeded pre-pandemic levels, according to recent data that shows provincial employment up by 28,200 jobs this September when compared to September 2019. 

According to the BC Check-Up: Work, an annual report by the Chartered Professional Accountants of British Columbia (CPABC) on employment trends across the province, B.C.’s unemployment rate was 5.9 per cent in September 2021, down from 8.6 per cent in September 2020.

When we talk about businesses that have been successful, there’s usually one common thread: they have a plan on where they want to take their business and how they’d get there.

A healthy balance sheet indicates to your shareholders, investors and lenders, and potential partners that your business is in strong financial health and provides confidence in how your business operates.

CPABC’s 2022-2023 Budget Submission recommends the province focus on tax and program reform to improve our province’s productivity. 

As British Columbia recovers from its worst recession in 40 years, it is important that the provincial government focuses on modernizing its tax system to boost business productivity and promote long-term economic growth.

In response to the upending of normal business activity throughout the COVID-19 pandemic, businesses across the globe have rapidly invested in digital transformation, often expediting years of planned project development into the span of a few months. 

Whether you bake cupcakes and sell them to co-workers or go fishing after work and sell what you catch to friends, any profit you make from your passion could be considered business income, subject to income tax in Canada.

As the profession transforms to meet the future, CPAs need to evolve their skillsets to best serve clients and organizations.

Between the Baby Boomer and Millennial generations are the Gen Xers (early 40s to mid-50s), who grew up in interesting times. This is the ‘latch-key’ and the ‘MTV’ generation, often children of working parents.

“If Canada is to meet its long-term objectives, sustainable finance must become, simply, finance. In other words, climate change opportunity and risk management need to become business-as-usual in financial services, and embedded in everyday business decisions, products and services.”

Meet the two BC writers who made the May 2021 CFE National Honour Roll

She doesn’t consider herself a natural risk-taker, but Karen Horcher is definitely cool under pressure.

Here's what CPABC members had to say about the future landscape for employers and employees.

How do you bring more value to your role? For today’s CFO, the expectation is not only to provide counsel to the CEO, but also to identify strategic opportunities for the business that will produce evolution and growth and lead to new opportunities.

“I think that if I'm not scared, then I'm not growing. And if I'm not growing, then I'm not really living fully,” says Livleen Veslemes, CPA, CMA. When it comes to scaring herself, Livleen has plenty of experience, as her passion for growth has helped catapult numerous organizations to major success.  

We know delegating is key to success as a leader. But it isn’t always easy.

A new school year comes with new costs – housing, transportation, text books, social activities, etc. It’s not only important to keep track of these expenses but also to ensure that you can pay for them with the money you have. 

As cyberattacks continue to escalate, multi-factor authentication (MFA) including the use of behavioural biometrics is increasingly being used to protect organizations.

Understanding your customer’s desires and preferences is key to reaching new clients and strengthening existing relationships. But in our highly-digitalized world, unlocking value from seemingly endless big data is challenging. Alida, previously known as Vision Critical, is a Canadian company that helps brands worldwide tap into actionable customer insight. 

As your child or children head back to school in this fall, immediate financial needs aren’t the only academic expenses to consider. 

The Chartered Professional Accountants of Yukon (CPAYT) and the CPA Western School of Business (CPAWSB) congratulate M. McKay & Associates Ltd.’s Corinne Canevet for passing the multi-day national Common Final Examination (CFE) written in May 2021. The exam was administered by CPAWSB.

The Chartered Professional Accountants of British Columbia (CPABC) and the CPA Western School of Business (CPAWSB) congratulate the 307 B.C. CPA students who passed the multi-day national Common Final Examination (CFE) written in May 2021. The exam was administered by CPAWSB.

Like many industries, accounting could be at risk of falling behind if it doesn’t stay afloat with technological progress. 

If you’re struggling with mounting credit card debt as household expenses climb, you are not alone. 

A CPA designation may as well be the golden governance ticket. From small not-for-profit organizations to large corporations, it seems everyone wants a CPA on their board. And it’s understandable—in an increasingly complex world, organizations are looking for directors who bring innovation, systems thinking, and experience navigating ambiguity and disruption.

The pandemic has reshaped the way employees work. Many have been forced to work remotely, and some have chosen to relocate. But necessity has borne some interesting insights.

As the world re-emerges from the shutdowns caused by COVID-19, it’s clear we are entering a new era. With the re-imagining of workspaces and industries, many are anticipating new and exciting career opportunities and paths. 

We’ve all heard that it’s what’s on the inside that counts. And when it comes to getting healthy, this saying couldn’t be more accurate.

Negotiation skills are among the most critical skills a leader can possess. A strong negotiator can creatively leverage corporate interests, catalyze change management efforts, resolve conflict, and influence key decisions. So what does it take to be a strong negotiator in a virtual world?

BC Check-Up: Live report looks at demographic and affordability trends across the province

How many times have you sat at your desk eating lunch while still working? Have you ever felt guilty about taking your break? 

British Columbians are being pushed to their financial limits like never before. According to Sands and Associates 8th Annual BC Consumer Debt Study, the COVID-19 pandemic was a major contributing factor for over half of the survey respondents who filed insolvency since March 2020. 

It was while working reception at Madison Pacific Properties Inc., a real estate management and development company in Vancouver, that Rhian Quarry realized she wanted to become a CPA. She had just completed her bachelor’s degree in health sciences and was looking for a new direction when inspiration struck.

You probably know this already – but you may be getting too many emails. If this resonates, you are not alone.

Jody Kidd has never been one to be held down by limitations. As a young adult, she knew she wanted a career that would not restrict her to any one particular industry. 

Amongst the many survey findings of the 2021 PwC CEO Survey, Canadian chief executives expect the global economy to see a robust recovery over the next year and a majority expect to grow their workforce. But for businesses to make the most of this opportunity, they need to rethink the workplace and invest in their employees. 

B.C.’s population growth declined by nearly a third in 2020 to only 56,757 new residents.

One of the biggest challenges for leaders has been keeping their employees engaged. We have seen tactics like virtual happy hours and Zoom check-in calls.

For many people, getting enough quality sleep and downtime can be challenging. But without it, we can’t get the mental and physical rest needed to be at our best in the workplace and in our daily lives.

Do you feel like you’re pulled in too many directions at work? Or that you don’t have enough time to deal with all of the requests and interruptions that come your way? 

If there is one central theme that could be highlighted for the year of 2020, it would undoubtedly be the fragility of health, and the need to preserve it at all costs. 

After eleven consecutive months of job gains in BC, April marked a set back as both the province and the country as a whole saw total employment decline.

One silver lining that has emerged over the past year is that the majority of organizations have realized the value of digital efforts—from client service to marketing to stakeholder engagement—and are putting resources into planning and implementing them.

More than ever, people need to make healthy choices in their lives, and Davis Yung, CPA, CMA, is proud to be part of that process. 

If there’s one thing business leaders have learned over the last 12 months, it’s that they need to be prepared for the unexpected. The rapid emergence of COVID-19 and its subsequent impact on businesses across industries underscored.

Did you know that Canada has both a national mental health strategy and a National Standard for Psychological Health and Safety in the Workplace?

These are challenging, uncertain times. There are a lot of real reasons to be anxious and stressed. 

How KPMG GVA is supporting wellness and destigmatizing illness

Approximately one in every five Canadians experience mental health issues. In a workplace of 100, that’s 20 staff who may be experiencing mental health problems. 

According to the Canadian Mental Health Association, many are experiencing unprecedented stresses and feelings of anxiety related to the COVID-19 pandemic. In fact, 40% of Canadians say their mental health has deteriorated since the onset of the pandemic.

Growing your business can be both an exciting and a terrifying thought. How do you know when is the right time?

There are many ways to describe feeling burned out. Whether you’re working from a virtual or physical office, you have probably heard a few of them. 

March 2021 marked a full year since the COVID-19 pandemic pushed British Columbia into a state of emergency. Over the past year, the world has traversed a balancing act between protecting the health and safety of individuals while simultaneously attempting to minimize the economic fallout necessary to do so. 
 

The onset of COVID-19 sent cybersecurity needs spinning in new directions. Prior to the pandemic, many organizations had already been ramping up cybersecurity practices, given the rise in cyberattack occurrences. 

The Chartered Professional Accountants of British Columbia (CPABC) commends the government for investing in our healthcare system in Budget 2021 as the province continues to address the COVID-19 pandemic.

Stuart Mah, CPA, CMA, and his 10-year-old certified therapy dog Nugget provide much-needed companionship to the long-term care residents at Mount St. Joseph Hospital. 

On April 19, 2021, the Government of Canada released its first budget since the pandemic began. Here’s a short overview.

While the importance of cybersecurity has never been more evident than it is now, given our heightened need and usage of digital communications, many organizations are getting left behind. 

Increasingly, CPAs are being looked to for advice that goes beyond tax and accounting matters. 

Financial ratios are tools used to compare figures in the financial statements of your business. They provide an objective measure on the performance of your business in the past, present, and future to help you determine growth, pay yourself & your employees, and still make a profit. 
 

At CPABC, we are proud of the contributions our members make not only to their workplaces, but to their communities as well. This year’s commemoration of National Volunteer Week (April 18-24), will be the second one to happen during the COVID-19 pandemic. 

We have been living in this new COVID-19 normal for over a year now. With events and workplaces remaining virtual and remote, are you finding it increasingly difficult to maintain connections with your existing network as well as build new meaningful connections? If the answer is yes, you are not alone.

In the lead up to 2020, Southwest B.C. experienced record levels of housing construction activity, private investment, and business activity.

BC saw another month of job gains in February 2021, marking the tenth consecutive month of employment levels improving since the low witnessed in April 2020. The increase helped lower the unemployment rate to 6.9%, a sizeable decline from the peak of 13.4% seen in May 2020 but above the 5.0% rate in February 2020. 

Imagine a future where audits can be done easily and quickly. All your ledgers, journal entries, donations, and other transactions are connected, sorted, and verified on the spot.

In the years leading up to 2020, Greater Victoria’s investment activity was thriving with a growing number of active businesses, strong housing starts, and robust economic growth. Unfortunately, the region’s economy took a significant dip due to the COVID-19 pandemic.

Why are professions regulated? Well, imagine trying to find a doctor if doctors weren’t regulated.

A common excuse many young people have as to why they haven’t begun the process of putting money into investments is that they don’t have enough to start. Somehow, we’ve become conditioned to think “it isn’t worth it” unless we have thousands and thousands of dollars to invest. 

It’s been a year since COVID-19, which caused much of the world to physical distance and transition to digital and virtual communications. 

Our minds and bodies are designed to survive. Second by second, day after day, these two systems devote an immense amount of energy and resources to helping us assess, respond to, and cope with threats and stressors.

The recent economic downturn may bring forth unexpected tax issues. As creditors become more inclined to forgive or settle debt without full or even partial repayment, more corporations may find that they are settling debt for less than the principal amount.

Seemingly overnight, remote work became the norm for many last year, with homes doubling up as office spaces and fitness hubs. While this transition was a shock for some, it came naturally to Alice Ko, CPA, CA.

The 2020 tax year will be very different for many Canadians who have to file their personal income taxes. That’s because many of the federal government’s emergency benefits in response to COVID-19 are taxable. 

VANCOUVER, February 23, 2021 — The Chartered Professional Accountants of British Columbia (CPABC) is pleased to present Leanne Cheng, CPA, CA, associate vice president and chief control officer at HSBC Bank Canada with the Distinguished Service Award for her remarkable commitment and dedication to her community.

Vancouver, February 23, 2021 — Derek Lamb and Sinéad Scanlon have been recognized with an Early Achievement Award.

VANCOUVER, February 22, 2021 — Graham McIntosh, executive director at the UBC Sauder School of Business was awarded with an Honorary CPA designation for his outstanding and innovative contributions to the advancement of accounting education in B.C. for over 25 years.

Microaggressions are brief and/or subtle actions, remarks, or visual cues in our everyday interactions that communicate negative ideas or stereotypes about a group of people.
 

The Chartered Professional Accountants of British Columbia is pleased to honour 14 chartered professional accountants with a fellowship designation (FCPA).

According to BC Check-Up: Invest, the number of active businesses in BC was down by 5.1 per cent in October 2020 compared to October 2019. 

If there was one activity that feels most altered by the pandemic it would have to be dining out. 

The Chartered Professional Accountants of British Columbia (CPABC) has been recognized as one of B.C.’s Top Employers for 2021, marking the second consecutive year CPABC has received this distinction.

2020 was a tumultuous year to say the least. For most people in the workforce, this has been an uncertain time, but we’re slowly shifting towards recovery. 

For many Canadians, terms such as GICs, mutual funds, and ETFs, can be daunting. What do they even mean, and how can you invest in them?

We explain how to deduct your home office expenses, including how to claim up to $400 using the new Temporary Flat Rate Method.

For the eighth consecutive month, BC’s workforce expanded in December. However, the most recent data shows that BC’s growth rate continues to slow considerably from rates seen earlier in the recovery, and for the first time since April, Canada as a whole saw an employment loss. 

An update on anti-money-laundering initiatives

Building for a strong, more inclusive future.

Meet the 10 candidates from BC and Yukon who made the National Honour Roll.

While COVID-19 hasn’t exactly quashed the possibility of having shared fitness experiences, it’s certainly changed what that looks like. And businesses that facilitate—or even simulate—togetherness seem poised to dominate the market. 

To better understand BC’s tech ecosystem, we spoke with BC Tech’s president and CEO, Jill Tipping, FCPA, FCA and KPMG’s Greater Vancouver Area’s industry lead partner, George Kondopulos, CPA, CA on findings from the latest BC Technology Report Card.

How much of a challenge would it be for you to save $756,000? How long do you think it would take you? 

Canadians recently reached a dubious high point – collectively, we have amassed $100 billion in credit card debt.

Geoffrey Dodds, CPA, CA, embraces his role as chair of the CPABC board even as COVID-19 continues to disrupt norms.

Long wait-times in a crowded space is often the scenario for those visiting their doctors. But with COVID-19, this scenario has changed for many patients seeking care from their doctors. 

As much as parents plan financially for their children’s future and offer tips on how to manage money, the time will come when young people will need to take ownership of their finances. 

According to the BC Check-Up: Work, an annual report by the Chartered Professional Accountants of British Columbia (CPABC) on employment trends across the province, Southwest B.C.’s unemployment rate hit 12.3 per cent in the Summer of 2020 (June to August). 

“I wish I’d known how to start saving for retirement when I was young… I would’ve liked to have known how to draw up and keep to a budget... I would have benefited from an explanation of how to use credit cards properly…”  

The Black Lives Matter movement, which calls for an end to white supremacy and violence inflicted on Black communities and champions the inclusion of Black people, sparked an array of promises and pledges from major corporations across the world when it began in the USA in 2013. 

The explosion of technology over the last 30 years has changed the way we do business—but have we given enough consideration to its ethical impacts? 

Like 79% of small businesses in Canada, Old Salty, a gift shop on Salt Spring Island, was not fully open this past spring. However, when they reopened their doors in the middle of May business quickly ramped up, and by July sales were 75% of the prior year’s and increasingly steadily. 

In the face of COVID-19, businesses – and even entire industries – that were formerly profitable now face upheaval. 

Imagine you start your workday by checking your voice messages; among them is one from your boss instructing you to perform a certain task. You complete the task and email her to confirm that you’ve received her message and finished the task. 

During an economic downturn such as the one in which we currently find ourselves, many taxpayers focus on finding cost-cutting measures, including opportunities to decrease their immediate tax burdens. What may not be top of mind, however, are opportunities to minimize future tax burdens by freezing or refreezing an estate.

Many business leaders and accounting professionals are wondering how best to recover from the disruptions of the COVID-19 pandemic and set their organizations up for success in the uncertain months and years ahead.

The Chartered Professional Accountants of British Columbia (CPABC) held its fifth Annual General Meeting in Vancouver on September 9, 2020 and announced its Board of Directors for fiscal year 2020/2021. 

Report recommends measures to maintain CPA training pipeline and meet future demand

The other day as I was stopped at a red light, I watched as a young man trimmed the grass around a light post, missed half of it, and continued on. My first thought, “How could he do that? Leave half of the grass he was being paid to trim?”

Prior to the COVID-19 pandemic, the way consumers preferred to shop had begun to morph, with an increasing demand for in-store experiences, greater e-commerce, and more sustainable products. The COVID-19 pandemic has only expedited these trends.

COVID-19 has led to a significant economic downturn across the country, affecting all industries. With many companies forced to implement layoffs and hiring freezes to weather the storm, is now a good time to become a CPA?

Economic data from July indicates that BC is continuing to rebound from the historic lows that began in March. However, the employment rebound has been disproportionately spread across sectors, and areas of consumer spending have shifted since pre-crisis. 

Nick Bozikis, CPA, CA, has always been very curious. And his curiosity has helped him adapt to new environments and trends throughout his career.

Like many industries, BC’s wine industry was hit hard by the COVID-19 pandemic. As an industry that relies heavily on tourism activity, retail sales, and temporary foreign workers, wineries across BC had to find innovative ways to stay operational when the province effectively shut down from March through May of this year. 

The COVID-19 pandemic has upended the way British Columbians work and live. Over the past few months, businesses across the province closed their doors, displacing a large portion of the workforce.

There’s no doubt that the COVID-19 pandemic has presented challenges when it comes to an individual or a business owner’s financial plan. Many people have relied on various government relief programs. It’s more important now than ever before to revisit your plan so that you can make short and long-term adjustments where necessary. 

In normal times, interviewing to get a job can be a daunting task. Layer it with a pandemic and doing a virtual interview may seem even more stressful and difficult. 

As the global economy reopens in the wake of unprecedented business closures due to COVID-19, “new normals” are developing in all aspects of our daily routines. Traction Guest, a Burnaby-based visitor management system (VMS) company, has been at the forefront of facilitating the safe and efficient return to workplaces.

Whether you are actively looking for work or trying to build your professional network, you should invest time in building your LinkedIn presence. With physical distancing measures still in place due to the COVID-19 pandemic, LinkedIn activity has increased. 

During times of significant pressure, such as the current COVID-19 pandemic, it can be a challenge dealing with additional stressors on top of the usual professional and personal responsibilities. Nevertheless, CPA members are still expected to meet professional standards. In crises, the public relies on professionals even more!

After March and April brought historic collapses in employment, consumer activity, exports, and increasingly negative GDP forecasts, new data continues to suggest the worst of the economic damage from the COVID-19 pandemic is behind us. While the situation remains precarious, June data shows the economy is continuing its rebound that began in May. 

What is it that you do every week that literally makes you stupid? You get stressed! When you are stressed, you release cortisol into your brain.

As we continue to navigate through these unprecedented times of uncertainty, achieving resilience and forging new opportunities is top of mind across industries. PwC’s 52nd BC Mining Report, “ESG: Resilience and opportunities in uncertain times”, highlights how BC’s mining industry, a long-term driver of the province’s economy, has continued to evolve and affect progressive change in issues such as health and safety, community engagement, and environmental impacts – topics that will only continue to rise in importance.

Since March, Vancouverites have been showing their appreciation for healthcare and other frontline workers by participating in the 7pm Cheer. In this spirit, Steamworks Group of Companies has found its own unique ways to support COVID-19 relief efforts. Mike Patterson, CPA, CA, and director of finance at Steamworks spoke with CPABC to discuss these initiatives, and the steps Steamworks has taken to navigate through the crisis.

Whether or not you are in the job market right now, having an up-to-date LinkedIn profile is important – especially in this day and age.

Although offices and workplaces are looking to reopen, as we emerge from the COVID-19 pandemic, many of us will likely continue to work from home on at least a partial basis for the foreseeable future. Therefore, it’s important to be aware of the basic cybersecurity measures we should have in place to protect both our personal and workplace data. 

When Sarb Mund, CPA, CMA, first opened Commissary Connect, a network of shared commercial kitchen spaces in Vancouver for local food and beverage entrepreneurs, he was always thinking one step ahead.

The last three years have seen significant changes in tax legislation. Private family businesses have felt the bulk of these changes, and many are still trying to digest the impact within their businesses.

With a passion for teaching and extensive international experience in financial reporting and internal audit, Bryan Parker brings a unique and relevant energy to the classroom.

Since the onset of COVID-19, many companies established “social distancing” and “work from home” policies. These measures have required organizations and recruitment companies to switch from in-person interviews to phone and video interviews.

Periods. They’re a natural event that billions of people around the world experience. Relationships with periods differ from person to person: some love-hate, others embrace. But it’s still something that’s not talked about enough.

How has containing COVID-19 impacted BC’s economy? Recent data is beginning to illustrate what this looks like.

With impressive speed, many of us have transitioned to conducting business online during the COVID-19 pandemic. Some of these changes have been more complex than others and may require supplementing your existing knowledge or learning a new skill set.

On May 6, 2020, the BC government announced its plans to re-open the economy, eight weeks after declaring a state of emergency due to the COVID-19 pandemic. The announcement came as BC’s situation looks increasingly positive, with declining total cases and the lowest per capita cases across any jurisdiction with over five million people in Canada, the US, and western Europe.

The COVID-19 pandemic caused over 100,000 jobs in BC to be cut in March, and it’s expected that the number will only continue to grow as we flatten the curve. However, it is important to know that the economic impacts of COVID-19 will likely be short-lived. 

With most of us working remotely during the current COVID-19 pandemic, finding the right file-sharing solution has become critical. We have put together some tips to assist you in starting your search, but these are just tips, not a substitute for your own due diligence.

In early March the COVID-19 outbreak was gaining momentum, but life was going on as normal and it was business as usual. By mid-March, that normalcy shifted rapidly as concerted efforts to contain the global pandemic began.

At CPABC, we are proud of the contributions our members make not only to their workplaces, but to their communities as well. This year’s commemoration of National Volunteer Week (April 19-25, 2020) is especially significant, given the COVID-19 pandemic and the outstanding efforts some CPABC members are making to help others during this time of need.

With thousands of employees across the country now working remotely for the first time, many are adapting to change and establishing new daily routines. For those tasked with leading a team, this new frontier poises a host of challenges and opportunities such as: how to facilitate communication, share information, create achievable work plans, provide staff with access to technology, as well as facilitating socialization and emotional support to name a few. 

How has containing COVID-19 impacted BC’s economy? Recent data is beginning to illustrate what this looks like. 

Having been born and raised in British Columbia, it’s no surprise that James Reyes has a love for the great outdoors. Among the wealth of activities one has the benefit of enjoying in this province, James set his sights on fly fishing; a decade-long passion of his that led him to a new career.

There’s no doubt this is a worrisome time for investors and that it’s more important than ever to remain calm so that you can make clear and informed decisions about your portfolio. 

As we navigate our way through these unprecedented times, it’s important to take care of our mental health while maintaining our physical health and safety. The disruption and uncertainty that COVID-19 has caused is challenging on many levels, and a healthy mindset is crucial to overcoming these challenges.  

As we better understand the implications of COVID-19 on our society and the measures required to curb its growth, organizations are updating their economic forecasts in real-time. 

If there’s one thing we know about COVID-19, it's that it has brought incredible uncertainty to our lives. It has also brought uncertainty about the state of our economy. 

Maintaining effective communications will be critical in successfully leading your organization through the COVID-19 pandemic. Key to effective communications, especially in crisis situations, is the open, honest, and transparent delivery of up-to-date information. 

Governance education in Canada took root in the early 2000s in the wake of the institutionalized fraud and corruption that plagued North American corporations. Most notably, the Enron scandal that resulted in the loss of billions in pensions and stock prices, and drove the creation of new regulations and legislation to increase accountability, highlighted the need for stronger board governance.

Forgetting someone's name is socially embarrassing, and bad for business. 

The Chartered Professional Accountants of British Columbia (CPABC) commends the government for achieving a balanced budget while still investing in social and capital projects.

The Chartered Professional Accountants of British Columbia (CPABC) has been recognized as one of the top employers in British Columbia for 2020.

Are you satisfied with how much you’ve contributed to your registered retirement savings plan (RRSP) in 2019? If you still want to contribute more, you can – but not for long.

"The underlying premise for diverse boards is no longer about good corporate citizenship, but rather about contributing value to a business." Deborah Rosati, founder & CEO, Women Get on Board

Canadian homeowners often have two critical financial goals: pay off the mortgage and save for retirement. It is conventional practice in Canada to approach these two goals sequentially as most Canadians have a fixed amount of income each month and there is a contractual obligation to make monthly mortgage payments.

Communication is by far one of the most valuable skills in any professional’s toolkit. Whether you’re just starting your career or you’re a seasoned vet, being an effective communicator at work is key to your success. 

Are you considering the flip-side of your Environmental, Social, and Governance (ESG) performance? Climate change is transforming the game for businesses on several fronts—from policy to technologies to market trends. 

Music is more accessible today than ever. With just a few clicks, businesses can access any type of music imaginable.

The impact of John McLaughlin’s career can be seen throughout Metro Vancouver. For over thirty years, he has played a major role in facilitating Vancouver’s commercial and residential property growth, as well as showcasing Vancouver’s vibrancy to the world. 

What is the number one brain myth out there and why is it dangerous? First, I have a great brain test for you to try – it was developed by psychologist John Stroop. 

When was the last time you thought about your thinking?
How much of your thinking is positive? Negative?

Export of goods and services make up 38 per cent of B.C.’s real Gross Domestic Product (GDP). As exports are a vital part of our economy, it is crucial that we continue to focus on exploring and diversifying our export products and markets.

Emotional Intelligence (EQ) and leadership are two concepts so ubiquitous in workplace lexicon that they are thrown around with the assumption that: 1) we all know what they mean, and 2) we all agree on their definition.

But do we? More importantly, are we really practicing them?

Do you ever get to the bottom of a page and wonder what you just read? Or are you having trouble retaining statistics or messaging in today’s overwhelming information age?