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Risk Averse
Risk averse is a description of an investor who, when faced with two investments with a similar expected return (but different risks), will prefer the one with the lower risk.	Term Of The Day Selected By John Kageleiry Verium Planning and Asset Management Owner, Principal and Chief Planner Dover, NH http://www.veriumplanning.com/

Breaking it Down:

A risk-averse investor dislikes risk, and therefore will stay away from adding high-risk stocks or investments to their portfolio and...Read More

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Assign Roles Before Your Next Virtual Meeting

Let’s face it: Leading a virtual meeting is no easy task. You need to plan carefully to overcome challenges such as awkward silences, technical glitches, and participants who multitask. Start by setting clear expectations for participation. Before the meeting, send out a “code of conduct” email to give everyone a chance to understand how they can participate productively. Assign roles ahead of time, taking into account participants’ usual behavior during calls. For example, if you have a chatty colleague who gets easily distracted, give them a task that will help them stay focused, such as keeping time. If the people in your meeting don’t know each other well, assign someone to pose targeted questions to spark conversation and minimize the number of awkward silences on the line. Make sure to let attendees know that you want to hear from each of them and that you’ll cold call people if you want to hear more about an idea or ask them to step back from the discussion if they start to dominate it. The clearer the roles are in a virtual meeting, the easier the conversation will flow.

Adapted from Running Virtual Meetings (20 Minute Manager series)

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TERM OF THE DAY

Beta Beta is a measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. Beta is used in the capital asset pricing model (CAPM), which calculates the expected return of an asset based on its beta and expected market returns. Beta is also known as the beta coefficient.

Breaking it Down: Beta is calculated using regression analysis. Beta represents the tendency of a security's returns to respond to... Read More

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Establish Trust Before Delegating Big Decisions

Delegating tasks to employees and then trusting them to make decisions for themselves is often far harder than it sounds. To be able to delegate decisions, you need to do two things: establish trust and accept failure as a possibility. You can build trust by interacting one-on-one with your employees, observing them doing their daily jobs, and providing feedback. That way, when it comes time to delegate a task, you’ll better understand your employees’ strengths and weaknesses and know who is ready to take on more responsibility and who needs more experience before tackling big decisions. You also have to recognize that failure is a natural part of delegation. Without it, you won’t get your team to innovate and take risks. If you accept that failure is a possibility when trying something new, you’ll have a much easier time giving up some of your decision-making responsibilities to others.

Adapted from “Superbosses Aren’t Afraid to Delegate Their Biggest Decisions,” by Sydney Finkelstein

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Know How You’ll Sell a Decision Before You Make It

When making a decision that affects many people, it’s best to go with an option that respects and reinforces the norms and values of your company. That’s how you get buy-in and commitment. But how do you know which option will do that best? Try this mental exercise to test how your options will be received: Imagine you’re making a presentation and your audience consists of those people who will be affected by your decision. Go through each of your options and imagine how you would justify choosing it. What specifically would you say about each option? What could you say with genuine conviction? What might be tougher to stand behind? What might ring hollow, raise eyebrows, or elicit resistance? Which options seem likely to get your audience smiling or nodding? In short, which option seems to be the right next paragraph in the ongoing story of your organization and what it stands for?

Adapted from “Before You Make a Tough Decision, Imagine How You’ll Have to Sell It,” by Joseph L. Badaracco

Desde Inform News uk PWC

Accounting and corporate reporting
PwC guidance
Modification of financial liabilities - PwC In brief
In July 2017, the IASB confirmed the accounting for modifications of financial liabilities. That is, when a financial liability measured at amortised cost is modified without this resulting in derecognition, a gain or loss should be recognised in profit or loss. The gain or loss is calculated as the difference between the original contractual cash flows and the modified cash flows discounted at the original effective interest rate. This In brief looks at the details.

Second GPPC paper on the auditor’s response to the risks of material misstatement posed by estimates of expected credit losses under IFRS 9 - PwC In brief
The introduction of the requirement to estimate expected credit losses (ECLs) under IFRS 9, 'Financial instruments', is one of the most significant changes to financial reporting by banks. A new paper from the Global Public Policy Committee has been issued to promote high quality audits of the accounting for expected credit losses by systemically-important banks (SIBs) and to assist audit committees in assessing the effectiveness of auditor’s response to the risk of material misstatement. For further details see our In brief.

Accounting consideration for Venezuelan entities (update as of July 2017) - PwC In brief
This In brief supersedes In brief INT2015-14, ‘Accounting considerations for Venezuelan subsidiaries’ and In brief INT2016-06, ‘Accounting considerations for Venezuelan entities - updates as of February 2016’.

This In brief reflects the latest development of exchange rate regime in Venezuela and discusses related accounting implication.

Transitioning to IFRS 9, 15, 16, 17? First-time adopters and those preparing transaction documents may need to do things differently - PwC In brief
This In brief highlights the differences between existing reporters, first-time adopters and those preparing transaction-related financial information when transitioning to new standards (IFRS 9,'Financial instruments', IFRS 15,'Revenue from contracts with customers', IFRS 16,'Leases' and IFRS 17, 'Insurance contracts').

IFRS 9 impairment: how to include multiple forward-looking scenarios - PwC In depth
One of the most complex aspects of ECL impairment is the need to incorporate forward-looking information and, in particular, to consider the effect of multiple forward-looking scenarios. Whilst industry thinking will almost inevitably continue to evolve, this publication brings together our latest thinking on this subject.

For further details, see In depth INT2017-05.

Tools, practice aids and publications
Illustrative IFRS consolidated financial statements for 2017 year ends - now in stock
Our Illustrative IFRS consolidated financial statements for 2017 year ends (global edition) publication is available in hard copy; orders can be placed via ifrspublicationsonline.com. PwC staff should refer to our internal ordering instructions.

PwC IFRSTalks – PwC podcasts
In this series PwC professionals will help you to keep up to date and share their perspectives on an increasingly complex financial reporting environment. You can listen to episodes at your convenience via your desktop. 

Episode 5: IFRS 15, Revenue
PwC has released the fifth episode of their IFRS podcast series.

In this episode Tony Debell, PwC IFRS Revenue Leader, helps us get to grips with the 5 step model in IFRS 15, the new revenue standard.
Episode 6 : IFRS News August 2017
PwC released the sixth episode of the new podcast series.

The sixth episode is 20 minutes of the latest IFRS News from leading IFRS Partners. Definition of the fair value, the commonly used measurement methods and request for information on IFRS 13.

Subscribe to our iTunes channel to receive more podcasts in the series.
20 minutes, twice a month will keep you up to date with IFRS.
Analysing IFRS 16 Leases XI: Sale and leaseback
This is the eleventh video in a series on the key issues in implementing the new leases standard IFRS 16. In this video, Avni Mashru and Richard Brown discuss how to account for sale and leaseback transactions under IFRS 16, how that compares to the current accounting under IAS 17 and the accounting on transition for sale and leaseback transactions that you’ve already undertaken or will do before adopting IFRS 16.
Subscribe to receive more videos in the series.
A full playlist of our Analysing IFRS 16 videos is available.
IFRS News - August 2017
The August 2017 issue includes the following articles

• New standard implementation: Investor expectations
• IFRS 13 Fair Value
• Leases lab - IFRS 16
• Demystifying IFRS 9 for Corporates
• IFRIC Rejections - IAS 38
• The IFRS 15 Mole
• Cannon Street Press

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TERM OF THE DAY

Accruals Accruals are earned revenues and incurred expenses that have an overall impact on an income statement. They also affect the balance sheet, which represents liabilities and non-cash-based assets used in accrual-based accounting. These accounts include, among many others, accounts payable, accounts receivable, goodwill, future tax liability and future interest expense.

Breaking it Down: The use of accrual accounts has greatly increased the amount of information on accounting statements. Before the use of accruals, accountants only recorded... Read More

Investigación

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Criterios de Rigor  y Calidad Científica

Desde Darden School of Business UV

Thought Leadership From the UVA Darden School of Business

 

Advice From the Trenches: How to Lead Multicultural Teams

 

Desde HBR

Assess Whether Your Direct Report Is Ready to Be a Manager

You have an ambitious team member who is working toward a promotion. They’re great at their job, but are they cut out to lead others? Measure their potential by gauging their interest in managing. Ask them what they believe management entails and what their approach would be. Inquire about any experience they’ve had outside of work that could provide useful preparation. Have they been in charge of an athletic team or a squad of volunteers? And give them opportunities to practice their management skills. Ask them to lead an upcoming project or spearhead a new initiative so you can observe them in action, paying close attention to their style and how they comport themselves. Lastly, be sure to seek out others’ opinions — not just your peers’ but the candidate’s coworkers as well. They’ll have a unique perspective on whether the person is up to the task.

Adapted from “Is Your Employee Ready to Be a Manager?” by Rebecca Knight

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TERM OF THE DAY

Dumping Dumping, in reference to international trade, is the export by a country or company of a product at a price that is lower in the foreign market than the price charged in the domestic market. As dumping usually involves substantial export volumes of the product, it often has the effect of endangering the financial viability of manufacturers or producers of the product in the importing nation.

Breaking it Down: Considered a form of price discrimination, dumping occurs when a manufacturer lowers the price of a good entering a... Read More

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Desde Fundación IFRS

IFRS^® Foundation Conference—Dubai

 

4 - 5 October 2017, Crown Plaza Dubai

Register by Thursday 27 July to save £400

We are pleased to announce that the IFRS Foundation’s Middle East conference will be held at the Crown Plaza Dubai Hotel on Wednesday 4 and Thursday 5 October 2017.

The International Accounting Standards Board (Board) will give updates on major IFRS Standards and projects to provide you with a better understanding of the thinking behind their work. The programme includes a panel discussion on Islamic Accounting Finance; a session on materiality and more. View the programme for more information.

Hear directly from expert speakers, including:

• Hans Hoogervorst (IASB Chairman)
• Sue Lloyd (IASB Vice-Chair)
• Henry Rees (IASB Director of Implementation and Adoption Activities)
• Gary Kabureck (IASB member)
• Rachel Knubley (IASB Associate Director)
• Faiz Azmi (Executive Chairman, PwC and Chair of the IASB Islamic Finance Consultative Group)

Pre-conference special-interest workshops

Choose one of four pre-conference special-interest workshops, and obtain a unique opportunity to discuss the topics in further detail in small groups. These interactive workshops are delivered by Board staff and members who are directly involved in drafting the Standards.

View the special interest workshop agendas for more information.

Breakout sessions

Focus on the topics that will affect you the most. There are six break-out sessions during the conference, allowing you to focus on the topics that affect you the most. View full agenda to find out more.

Now is the best time to register, with an early bird saving of £400 available until this Thursday 27 July.
There are three ways to register:

• Online
• By email
• By calling: +44 (0)20 7017 5509

Please quote event code FKW53545
Kind regards,
IFRS Foundation Education Initiative
(The conference is managed under contract by IIR Ltd (UK) for the IFRS Foundation)

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SEMINARIO:

“AUDITORIA BASADA EN EL MODELO COSO III”

CONFERENCISTA: Hernán Murdock

FECHA: Miércoles 13 y jueves 14 de Septiembre de 2017 

HORA: 8:00 am a 5:00 pm (16 horas)

EVENTO CUENTA CON EL APOYO DEL INSAFORP, ÚLTIMA FECHA PARA APLICAR  DE MARTES 5 DE SEPTIEMBRE DE 2017

IMPORTANTE A CONSIDERAR: POR INSTRUCCIONES DEL  INSAFORP, LOS DOCUMENTOS PARA SOLICITAR EL APOYO YA NO SERÁN REMITIDOS A OFICINAS DEL INSAFORP, A PARTIR DE ESTA FECHA DEBERÁN SER ENTREGADOS  DE MANERA FÍSICA EN NUESTRA OFICINA, UBICADAS EN 73 AV. NORTE, COL. ESCALON,  COND. ISTMANIA, EDIF. 336, LOCAL 13, PRIMER NIVEL, SAN SALVADOR.

Contactos:

 capacitaciones.iai@iaielsalvador.org  //   gerencia@iaielsalvador.org   

Desde Inform News uk PWC

Accounting and corporate reporting
Tools, practice aids and publications
PwC IFRS Talks – Episode 4: IFRS News July 2017

PwC released the fourth episode of the new podcast series. In this series PwC professionals will help you to keep up to date and share their perspectives on an increasingly complex financial reporting environment. You can listen to episodes at your convenience via your desktop.

The fourth episode is 20 minutes of the latest IFRS News from leading IFRS Partners. Update on proposed changes on accounting for debt modification, factoring for corporates, and a 10 minute lowdown on the IFRIC 23 Uncertain tax positions.

Subscribe to our iTunes channel to receive more podcasts in the series.

20 minutes, twice a month will keep you up to date with IFRS.

Other news
IASB update - July 2017
The July 2017 IASB Update includes discussions on the following:

• Insurance Contracts
• Implementation and maintenance of IFRS Standards
• Materiality Practice Statement
• Prepayment Features with Negative Compensation and Modifications of Financial Liabilities
• Rate-regulated Activities
• Goodwill and Impairment

Desde HBR

Stop Giving Your Team Unnecessary Work

No one likes busy work. And yet, not only do we all have it, but most managers assign it. If your team is buckling under deadlines and stress, assess whether you’re giving them unnecessary tasks and then figure out how to ease the burden. Start by regularly auditing your team’s work. Ask team members to estimate how much time they spend on each task, how central the task is to their role, and how much value each task yields. For those tasks that are needless or low in value, solicit your team’s suggestions for how to reduce or eliminate them, and work together to implement solutions. Often, improving communication and granting greater autonomy can help to get rid of any inefficient processes. Keep in mind that you may not be the one assigning the unnecessary work. Advocate for your team by insisting on better information when your team receives unclear or conflicting directives from above. And always make sure your team gets the resources it needs to perform and thrive.

Adapted from “How to Know Whether You’re Giving Your Team Needless Work,” by Monique Valor