Financial Compliance North Vancouver

Financial Compliance North Vancouver

Business tax return preparation

They utilize sophisticated software to predict potential outcomes, ensuring you're always employing the most beneficial tax strategies available.

Financial Compliance North Vancouver - Accounting for freelancers

  1. CRA audit help
  2. Business valuation
  3. Certified public accountant (CPA)
  4. Accounting consulting
  5. Tax resolution services
  6. Business growth consulting
  7. Corporate tax accounting
  8. Free consultation accounting services
  9. Small business tax advising
  10. Construction accounting
  11. Accounting for medical professionals
  12. Financial advisory services
  13. CPA firms
  14. Tax accounting
  15. Tax compliance
But it doesn't stop there.

Financial Compliance North Vancouver - Free consultation accounting services

  1. Corporate tax accounting
  2. Investment accounting
  3. Free consultation accounting services
  4. Small business tax advising
  5. Construction accounting
  6. Accounting for medical professionals
  7. Financial advisory services
  8. CPA firms
  9. Tax accounting
  10. Tax compliance
  11. Digital accounting
  12. Certified accountants
  13. Financial reporting
  14. Financial consulting
  15. Income tax preparation
That's why we're dedicated to providing tailored advice that aligns with your specific needs. Learn more about Trusted Accountant in North Vancouver here. Read more about Financial Compliance North Vancouver here IBB Accounting & Tax Services doesn't just keep your books in order; they're also your partner in driving business growth. Learn more about Financial Compliance North Vancouver here
But it's not just about the numbers. Leveraging advanced accounting technologies can significantly streamline your business's financial operations, making them more efficient and accurate. You've built a strong foundation, and it's time to capitalize on that by optimizing your financial strategies and ensuring your tax planning is as efficient as possible.
Whether you're navigating the complex landscape of real estate investments or managing the dynamic needs of a tech startup, IBB's expertise is your backbone. They'll help you navigate the complexities of investment opportunities, ensuring that every move you make contributes positively to your financial health and business vision. Moreover, IBB Accounting & Tax Services stays ahead of the curve with proactive tax planning.
So, let's start building those comprehensive financial strategies that will take your business to the next level. That's why we're always up to date, ready to guide you through any changes that might affect your business. At IBB Accounting & Tax Services in Financial Compliance North Vancouver, we understand the intricate dance between maintaining precise financial records and adhering to the ever-changing tax laws and regulations.

Financial Compliance North Vancouver - Accounting technology solutions

  1. Cloud accounting solutions
  2. Accounting technology solutions
  3. Year-end financial statements
  4. Estate planning accounting
  5. Investment accounting
  6. Free consultation accounting services
  7. Small business tax advising
  8. Construction accounting
  9. Accounting for medical professionals
  10. Financial advisory services
  11. CPA firms
  12. Tax accounting
  13. Tax compliance
  14. Digital accounting
  15. Certified accountants
  16. Financial reporting
  17. Financial consulting
  18. Income tax preparation
  19. CRA audit help

They stay ahead of changes, ensuring you're always in compliance and maximizing your financial opportunities.

Financial Compliance North Vancouver - Accounting technology solutions

  1. Business tax return preparation
  2. CFO services
  3. Online tax filing
  4. Real estate accounting
  5. Professional accounting services
  6. Accounting for freelancers
  7. GST/PST filing
  8. Debt management
  9. Hospitality industry accounting
  10. QuickBooks accounting
  11. Cloud accounting solutions
  12. Accounting technology solutions
  13. Year-end financial statements
  14. Estate planning accounting
  15. Investment accounting
  16. Free consultation accounting services
Think of us as your financial navigator, guiding you through the complexities of cash flow management, budgeting, and forecasting. With IBB Accounting & Tax Services by your side, you're not just getting software solutions. This isn't about cutting corners; it's about smart planning and leveraging opportunities within the tax laws.

If you prefer digital communication, sending an email is also an option. The expert team behind IBB specializes in turning financial intricacies into streamlined processes, ensuring that you're not only compliant but also maximizing your financial potential. They don't just crunch numbers; they dive deep into your industry's specifics, ensuring compliance and optimizing your financial performance.

IBB Accounting & Tax Services specializes in crafting personalized tax strategies that align with your business goals, ensuring you're not only compliant but also maximizing potential tax benefits. We'll help you understand the intricacies of investments, savings, and retirement planning, ensuring you're well-prepared for what lies ahead. They're committed to uncovering every tax saving opportunity available to you, keeping your business compliant while maximizing profitability.

With IBB, you're not just getting tax filing assistance; you're gaining a strategic partner dedicated to leveraging tax strategies that propel your business forward. You're not just getting a one-size-fits-all solution. Over the years, you've relied on their expertise for everything from personal tax returns to complex corporate financial strategies.



Financial Compliance North Vancouver - Estate planning accounting

  1. Business valuation
  2. Certified public accountant (CPA)
  3. Accounting consulting
  4. Tax resolution services
  5. Business growth consulting
  6. Corporate tax accounting
  7. Hospitality industry accounting
  8. QuickBooks accounting
  9. Cloud accounting solutions
  10. Accounting technology solutions
  11. Year-end financial statements
  12. Estate planning accounting
  13. Investment accounting
  14. Free consultation accounting services
  15. Small business tax advising
  16. Construction accounting
  17. Accounting for medical professionals
  18. Financial advisory services
  19. CPA firms
  20. Tax accounting

Non-Profit Accountant North Vancouver

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.

Citations and other links

Audit Services Financial Compliance North Vancouver

These stories aren't just testimonials; they're proof of the transformative power of expert accounting and tax services.

Financial Compliance North Vancouver - Investment accounting

  1. Certified public accountant (CPA)
  2. Accounting consulting
  3. Tax resolution services
  4. Business growth consulting
  5. Corporate tax accounting
  6. Accounting technology solutions
  7. Year-end financial statements
  8. Estate planning accounting
  9. Investment accounting
  10. Free consultation accounting services
  11. Small business tax advising
  12. Construction accounting
  13. Accounting for medical professionals
  14. Financial advisory services
  15. CPA firms
  16. Tax accounting
  17. Tax compliance
  18. Digital accounting
At IBB Accounting & Tax Services, we offer a wide range of financial services tailored to meet your unique needs, from individual tax planning to comprehensive corporate financial management. They understand that cash flow is king in the early stages of any business.

Financial Compliance North Vancouver - CFO services

  1. Digital accounting
  2. Certified accountants
  3. Financial reporting
  4. Financial consulting
  5. Income tax preparation
  6. CRA audit help
  7. Business valuation
  8. Certified public accountant (CPA)
  9. Accounting consulting
  10. Tax resolution services
  11. Business growth consulting
  12. Corporate tax accounting
  13. Small business tax advising
  14. Construction accounting
  15. Accounting for medical professionals
  16. Financial advisory services
  17. CPA firms
  18. Tax accounting
  19. Tax compliance
  20. Digital accounting
Furthermore, we understand that tax season can be stressful. Their team stays ahead of the curve, leveraging the latest accounting software and regulatory knowledge to ensure your finances not only comply with current standards but are also primed for future growth.

Then there's the tech startup that was on the brink of losing track of its expenses and revenue projections.

Financial Compliance North Vancouver - Cloud accounting solutions

  1. Small business tax advising
  2. Construction accounting
  3. Accounting for medical professionals
  4. Financial advisory services
  5. CPA firms
  6. Tax accounting
  7. Tax compliance
  8. Digital accounting
  9. Certified accountants
  10. Financial reporting
  11. Financial consulting
  12. Income tax preparation
  13. CRA audit help
  14. Business valuation
  15. Certified public accountant (CPA)
  16. Accounting consulting
  17. Tax resolution services
  18. Business growth consulting
  19. Corporate tax accounting
You're likely navigating a sea of challenges, from tax planning to financial strategy, and it's essential to have a partner that not only understands your unique needs but also tailors solutions to fit your business perfectly. You can easily book appointments online, access resourceful financial guides, or start a live chat with a team member during business hours. Imagine you're a small business owner in Financial Compliance North Vancouver, struggling to navigate the murky waters of tax regulations, when you discover IBB Accounting & Tax Services.

They're also set to leverage the latest digital tools to enhance their service delivery. Each member of our team has been handpicked for their extensive experience, deep industry knowledge, and commitment to excellence. That's why we don't just offer one-size-fits-all services; we dive deep into your industry to provide the precise support you need. Navigating your unique financial journey also means staying informed about ever-changing regulations that can impact your strategies.

A tailored tax strategy that not only smoothed out financial wrinkles but also boosted profitability by 15%. Whether you're a small business owner, a freelancer, or part of a larger corporation, they've got you covered.

Financial Compliance North Vancouver - Year-end financial statements

  1. Certified accountants
  2. Financial reporting
  3. Financial consulting
  4. Income tax preparation
  5. CRA audit help
  6. Business valuation
  7. Certified public accountant (CPA)
  8. Accounting consulting
  9. Tax resolution services
  10. Business growth consulting
  11. Corporate tax accounting
  12. Year-end financial statements
  13. Estate planning accounting
  14. Investment accounting
  15. Free consultation accounting services
  16. Small business tax advising
  17. Construction accounting
Whether you're a startup grappling with your first tax season or an established enterprise looking to optimize your tax situation, IBB's expanded services have you covered. Moreover, IBB keeps you up-to-date with the latest tax laws and regulations, ensuring your business remains compliant and avoids costly penalties.

Audit Services Financial Compliance North Vancouver
Accounting Services Financial Compliance North Vancouver

Accounting Services Financial Compliance North Vancouver

IBB helps you plan and forecast effectively, turning potential financial pitfalls into manageable challenges. Let IBB Accounting & Tax Services be your partner in navigating the complexities of investment and growth planning. Automation tools also play a crucial role, reducing the risk of human error and freeing up your schedule to focus on core business activities. Compliance can be a headache, but it's crucial for your business's longevity. Our team ensures you're not just surviving but thriving in Financial Compliance North Vancouver's competitive business landscape.

In essence, IBB's tax services expansion is all about providing you with the tools and expertise you need to navigate the complexities of tax planning and compliance, freeing you to focus on what you do best – growing your business. It's about more than just monitoring what comes in and goes out; it's about strategically planning your moves to keep your business afloat during both lean and boom times. So, why not explore how their client success stories and innovative methodologies could inspire a new chapter in your business journey?

Financial Compliance North Vancouver - Investment accounting

  1. Tax accounting
  2. Tax compliance
  3. Digital accounting
  4. Certified accountants
  5. Financial reporting
  6. Financial consulting
  7. Income tax preparation
  8. CRA audit help
  9. Business valuation
  10. Certified public accountant (CPA)
  11. Accounting consulting
  12. Tax resolution services
  13. Business growth consulting
  14. Corporate tax accounting
  15. GST/PST filing
  16. Debt management
  17. Hospitality industry accounting
  18. QuickBooks accounting
You won't want to miss the insights on how this versatile firm adapts to the ever-changing business landscape, offering a glimpse into future directions for IBB support.

From startups to established businesses, we've guided companies through their financial challenges with a hands-on approach that's tailored to each client's unique situation. We understand the importance of staying ahead in the financial game. 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.

Financial Compliance North Vancouver - Debt management

  1. Accounting for medical professionals
  2. Financial advisory services
  3. CPA firms
  4. Tax accounting
  5. Tax compliance
  6. Digital accounting
  7. Certified accountants
  8. Financial reporting
  9. Financial consulting
  10. Income tax preparation
  11. CRA audit help
  12. Business valuation
  13. Certified public accountant (CPA)
  14. Accounting consulting
  15. Tax resolution services
  16. Business growth consulting
They've seen it all, from the simplest tax returns to the most complex financial puzzles, ensuring that whatever your financial needs, they've got you covered.

You're partnering with experts who are invested in your business's success throughout the entire year. They craft a personalized plan that aligns with your business goals and financial objectives. With our support, you'll avoid common financial pitfalls that many new businesses fall into. Our goal is to provide a one-stop solution for all your accounting and tax needs, ensuring you're always one step ahead.

Monthly Bookkeeping Services Financial Compliance North Vancouver

This approach ensures you're not caught off guard by tax obligations and can make informed decisions that benefit your financial future. Let us handle the intricacies of your financial management so you can concentrate on what you do best – running your business. You've seen the landscape of taxation and accounting evolve, and IBB has been your steadfast partner through every change.

Financial Compliance North Vancouver - Investment accounting

  1. Tax compliance
  2. Digital accounting
  3. Certified accountants
  4. Financial reporting
  5. Financial consulting
  6. Income tax preparation
  7. CRA audit help
  8. Business valuation
  9. Certified public accountant (CPA)
  10. Accounting consulting
  11. Tax resolution services
  12. Business growth consulting
  13. Corporate tax accounting
  14. QuickBooks accounting
  15. Cloud accounting solutions
  16. Accounting technology solutions
  17. Year-end financial statements
  18. Estate planning accounting
Plus, their proactive approach means you're always ahead of deadlines, avoiding penalties and interest. Plus, we're here to guide you through complex financial landscapes, offering advice on investments, mergers, and acquisitions.

Financial Compliance North Vancouver - Free consultation accounting services

  1. Financial advisory services
  2. CPA firms
  3. Tax accounting
  4. Tax compliance
  5. Digital accounting
  6. Certified accountants
  7. Financial reporting
  8. Financial consulting
  9. Income tax preparation
  10. CRA audit help
  11. Business valuation
  12. Certified public accountant (CPA)
  13. Accounting consulting
  14. Tax resolution services
  15. Business growth consulting
  16. Corporate tax accounting
  17. Professional accounting services
  18. Accounting for freelancers


For real estate, they might focus on capital gains strategies and property tax optimization, ensuring you're not leaving money on the table when it comes to investments or sales. And tech startups appreciate our guidance on R&D tax credits and intellectual property valuations. Our commitment doesn't end with setting up your tailored accounting solution. They're committed to your success, offering not just accounting but financial growth strategies tailored to your unique situation.

Financial Compliance North Vancouver - Year-end financial statements

  1. Certified accountants
  2. Financial reporting
  3. Financial consulting
  4. Income tax preparation
  5. CRA audit help
  6. Business valuation
  7. Certified public accountant (CPA)
  8. Accounting consulting
  9. Tax resolution services
  10. Business growth consulting
  11. Corporate tax accounting
  12. Construction accounting
  13. Accounting for medical professionals
  14. Financial advisory services
  15. CPA firms
  16. Tax accounting
  17. Tax compliance
  18. Digital accounting
  19. Certified accountants


They'll ensure your employees are paid accurately and on time, every time, which is crucial for maintaining morale and trust within your team. If you're generating a steady income, making these payments can prevent you from facing a large tax bill at the end of the year. We meticulously review your financial documents, ensuring every number is accurate and every transaction is correctly recorded. If you've ever wondered how to align your financial goals with your business vision or make your personal wealth work harder for you, this is where your journey takes an interesting turn.

IBB's expertise in accounting and tax services is tailored to keep pace with these changes, ensuring you're always ahead of the curve. We've spent years cultivating a wealth of knowledge across various sectors, enabling us to provide you with cutting-edge strategies and solutions that are as innovative as they're effective. From personal tax planning to corporate financial strategy, IBB doesn't just keep your books in order; they help you plan for the future. You'll receive detailed reports and recommendations that not only satisfy statutory requirements but also empower you to enhance financial controls and operational efficiency.

Monthly Bookkeeping Services Financial Compliance North Vancouver
Financial Compliance North Vancouver Payroll Tax Services
Financial Compliance North Vancouver Payroll Tax Services

Instead, they'll provide you with insights and strategies tailored to your business's unique situation. IBB's accounting and tax services are precisely adapted to meet the unique demands of the real estate sector, ensuring your investments are both compliant and optimized for financial growth. Our team takes the time to get to know you, your financial objectives, and your concerns. Building on our team's expertise, we offer comprehensive tax services tailored to meet your specific financial goals and challenges.

Transparency isn't just a buzzword here; it's a foundational principle. Partnering with us means you're setting up your start-up for long-term success, with a clear financial roadmap from the outset. While we've highlighted the significant benefits of advanced accounting technologies, it's our clients' success stories that truly showcase their impact.

One practical step is to automate your savings. We'll ensure your financial records are meticulous and up-to-date, providing you with a clear picture of your business's financial health. Whether you're navigating the complex world of real estate or the ever-evolving tech sector, they've got your back.

Financial Compliance North Vancouver - Accounting for freelancers

  1. GST/PST filing
  2. Debt management
  3. Hospitality industry accounting
  4. QuickBooks accounting
  5. Cloud accounting solutions
  6. Accounting technology solutions
  7. Year-end financial statements
  8. Estate planning accounting
  9. Investment accounting
  10. Free consultation accounting services
  11. Small business tax advising
  12. Construction accounting
  13. Accounting for medical professionals
  14. Financial advisory services
  15. CPA firms


This means you can focus more on growing your business and less on the nitty-gritty of daily financial management. Our team specializes in identifying areas where your business can become more efficient, saving you time and money. While we guide you through financial planning, ensuring accuracy and compliance in your financial reports and tax filings becomes our next priority.

Financial Compliance North Vancouver Business Incorporation

With IBB Accounting, you're not just getting a service provider; you're gaining a partner committed to your financial success. Every member isn't just highly qualified; they bring a wealth of experience and specialized knowledge to the table. And as your business evolves, we'll be right there with you, adjusting your plan to keep you on track towards your financial objectives. In essence, IBB Accounting & Tax Services isn't just a service provider; they're a catalyst for your business's growth and success in Financial Compliance North Vancouver's competitive landscape. Whether you're planning for retirement, saving for a major purchase, or looking to optimize your investment portfolio, we've got the tools and knowledge to guide you.
As we craft tailored financial strategies to meet your unique needs, we also focus on supporting your business's growth and expansion in Financial Compliance North Vancouver. That's why we're here to help you navigate the complexities of wealth accumulation, preservation, and transfer.

Financial Compliance North Vancouver - Business tax return preparation

  1. Real estate accounting
  2. Professional accounting services
  3. Accounting for freelancers
  4. GST/PST filing
  5. Debt management
  6. Hospitality industry accounting
  7. QuickBooks accounting
  8. Cloud accounting solutions
  9. Accounting technology solutions
  10. Year-end financial statements
  11. Estate planning accounting
  12. Investment accounting
  13. Free consultation accounting services
  14. Small business tax advising
  15. Construction accounting
  16. Accounting for medical professionals
That's what IBB offers. With IBB Accounting & Tax Services, it's not just about numbers; it's about building a trusted relationship that helps you achieve your financial aspirations.
Understanding that every business's needs are unique, IBB offers customized accounting solutions tailored specifically to your industry's requirements.

Financial Compliance North Vancouver - GST/PST filing

  1. Investment accounting
  2. Free consultation accounting services
  3. Small business tax advising
  4. Construction accounting
  5. Accounting for medical professionals
  6. Financial advisory services
  7. CPA firms
  8. Tax accounting
  9. Tax compliance
  10. Digital accounting
  11. Certified accountants
  12. Financial reporting
  13. Financial consulting
  14. Income tax preparation
  15. CRA audit help
  16. Business valuation
This expansion means you've now got more comprehensive support tailored to the unique needs of your business, covering everything from simple tax filings to complex tax planning strategies. Building on our personalized approach, IBB offers comprehensive bookkeeping services designed to simplify your financial management and enhance your business's efficiency. You can call their office directly to schedule an appointment or if you have quick questions that need immediate answers.
Whether you're a small business owner, an entrepreneur, or an individual seeking to optimize your financial situation, IBB Accounting tailors its services to meet your unique needs. Their personalized approach to customer service, combined with a proven track record of success, positions them as an invaluable asset for any business looking to navigate the complexities of financial management. You'll work directly with our team of seasoned professionals who bring a wealth of knowledge and expertise to the table. They'll work with you throughout the year, not just at tax time, to identify opportunities for tax efficiency and strategic financial growth.

Explore Financial Compliance North Vancouver here
Financial Compliance North Vancouver Business Incorporation

 

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

You're curious about the qualifications and certifications of our accountants. They're highly skilled, holding CPA certifications and other relevant qualifications in accounting and tax services, ensuring top-notch assistance for all your financial needs.

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.

The firm stays updated with the latest tax laws and financial regulations by attending regular training sessions, subscribing to industry publications, and maintaining memberships in professional organizations, ensuring they're well-informed to best serve your business or personal finances.