Accounting Blog for Business

In the past two decades, businesses in developed countries have sought operational efficiency through outsourcing. As a result, outsourcing in the Philippines has become a viable option for businesses to reduce overhead costs without compromising quality. To drive the growth of the outsourcing industry, the Philippine government provides incentives for foreign-owned companies to invest in the country. This week, we discuss the benefits of being a Philippine Economic Zone Authority (PEZA)-registered enterprise.

The year 2019 is fast approaching. For the Philippine business sector, this means that the second part of the Philippines’ tax reform initiatives is right around the corner. This year, the Tax Reform for Acceleration Law (TRAIN Law) focused on bringing down personal income taxes. Next year, the proposed Tax Reform for Better and Higher Opportunities (TRABAHO) seeks to modernize the country’s business tax rates.

In the past few months, the discussions surrounding robotic accounting, automation, AI, and other recent developments in accounting technology have been fraught with anxiety and dread, even. Given how machine learning and big data are transforming the industry and impacting how you relate to clients, it’s incumbent upon you as an accountant to understand how to future-proof your career.

How do you achieve work-life balance in your accounting career?

Being a CPA is a great job, but can also be stressful and tough from time to time. Many people find this career rewarding, but the rewards really come with hard work. This is common during the month-end closing.

A positive office culture leads to increased productivity, better employee morale, and the ability to retain skilled workers. Negative attitudes in the workplace, particularly when they are displayed by management or the small business owner, can have a dramatic impact on the entire workforce.

Over the past months, the implications of Brexit have been a contentious topic among accountants. With the release of the Government’s Brexit Whitepaper on July 12, we now have a better picture of the possible effects of Brexit on accounting and finance.