The Integrity of Certified Public Accountants

The American Institute of Certified Public Accountants (AICPA) has several pillars of Code of Professional Conduct. One of the most important components is integrity. The accounting profession has a responsibility of honoring the public trust. The integrity of Certified Public Accountants (CPA) is essential since government agencies, investors, lenders, and other members of the business community rely on it to aid in preserving proper functioning of commercial activities. Richard L. Schmalensee is a former John C Head III Dean of the MIT Sloan School of Management. He said that without ethics, a business cannot be done or taught. Therefore, current and aspiring public accountants should embrace the duty to act in a manner that warrants the faith that people reposed in the work they will do.

Accounting Coquitlam believes that it is essential to teach standards of professional conduct in business and undergraduate accounting curricula especially in the wake of the corporate frauds and resurgence of high-profile Ponzi schemes. It can be impossible to mold each student to become a business professional who adheres to the ethics. However, it is important for students to have the impression of fostering an organizational culture that values a high standard of business character. I have the view that the introductory chapter on professional ethics in the auditing course is not enough to teach students the importance of conducting their duties in line with professional standards. Additionally, it is not sufficient to have students wait until they enroll in an MBA program for them to get exposure to a course on corporate governance and business ethics. They should be exposed to such topics earlier in their studies.

Repetition has a pedagogical importance, and business programs should be aware of that. It is essential to discuss ethical cases in each and every management and accounting course at the undergraduate level. It goes a long way in ensuring that the accounting and business students are equipped adequately to handle most ethical dilemmas that could arise in their places of work. It is unfortunate that universities are producing graduates who are not able to deal with business situations that require sound ethical judgment. It is high time they put an end to this alarming trend; otherwise, the business community will forever remain unethical.

Port Coquitlam CPA & CGA Accountants believes that accounting professionals are expected to perform their duties with a high degree of integrity, which explains why they are held in high esteem. There is an increasing concern on how more and more accounting firms are failing to get rid of severe fraud cases. With that trend, the public accounting profession might begin losing its good reputation that was established by the earlier generations of accountants. Accountants in the previous generations worked so hard to create and preserve a good reputation, and it is unfortunate if accountants of this generation do not maintain the integrity required.

The Growth of Industrial Valves in the Marketplace

industrial valves

In the next five years, the growth of the industrial valve market will increase by several percentage points. The oil and gas sectors are going to be responsible for the biggest market for growth. By the year 2019, it is estimated that the global valve market will grow to be over $70 billion.

What are Industrial Valves?

These are devices that control and regulate the flow of substances through industrial piping systems. They control or stop gas, oil, and other fluids. They also help direct the movement of the fluid and can control when that flow starts as well as when it stops.

These devices are used mostly in the oil and gas industries, but they are also frequently employed in power, chemical and mining industries, too. The types of valves used in these sectors include ball valves, globe and butterfly type valves.

valve solutions

Why is the Market Growing?

The increased demand across the globe for oil, gas, chemicals and power are what are driving the growth. Markets are segmented based on industry and the type of applications in which the valves are used. Companies are boosting the growth of the market by developing and expanding products to add to the requests where the valves can be utilized. They are also growing as a result of the demand for the valves which keeps propelling this market forward.

Different regions in the world are enjoying different types of growth, too. In the Middle East, these devices are essential in the growing trend of turning the area into a refined product supplier instead of a raw goods supplier. In the production and refinement of these raw products, they will continue to use valves which will keep growth moving in the next five years.

Africa and Central America will also be expanding and increasing the demand for industrial valves. They are emerging as renewable and nuclear energy markets which will also further the growth in industrial valve use. In the United States, wastewater treatment plants used by many municipalities will also add to the demand.

Now is a good time to invest in these markets. They should be increasing in value over the next five years. Keep on top of the developments in the global industrial valve market by continuing to review all information you can obtain online about it. There are many segments within the primary market which are also poised for individual growth in the next few years.

It is Time to Invest in an Assisted Living Facility

It is clear that the Baby Boomer generation is getting into their golden years. The size of that aging generation means that the demand for assisted living in the coming years is bound to grow as it has already begun to do. It is the perfect time to invest in this growing demand by investigating the possibilities of creating your assisted living facility or buying into a franchise.

Real estate investors are already eyeing senior living apartments or condominiums as a significant rental income investment. If you are not sure about owning an actual facility, this may be the route for you to take. You can take a look at all the real estate offerings in your area, or an area that is of particular interest to you.

If you decide to invest in real estate for seniors, an urban area might be equally as lucrative as a rural one. If you purchase a property in a rural area specifically geared towards older adults, then you will have the market share of rentals for that segment of the population. If you invest in urban areas, they are naturally more populated, and the need for more senior housing is greater anyway.

If you think that invest in an assisted living facility for elderly home care is more to your liking, know that owning one or franchising one is an excellent way to give back to the community. If you love the idea of helping people, owning an assisted living place is probably a great fit for you emotionally and economically.

If you own senior rental properties, you might be geared more towards investing in real estate in general. You will be doing a good thing by offering more housing suited to seniors, but if you want to have a feeling of giving back, owing an assisted living facility may be best.

Owning an assisted-living facility can help you give back because these are facilities where you will assist in ensuring seniors are getting the right every day medical care, household help, and meal plans. You can even oversee day-to-day activities like shopping sprees or host special events like day trips to casinos or any other place of interest in your area.

If you want to own the best of both worlds, you could buy apartment properties and convert them into special housing designed for seniors. Then, you are in charge of employing medical staff and so forth. There is no doubt that now is the time to invest in senior housing.

Questions You Need To Ask If You’re Considering Starting A Luxury Dog Boarding Business

luxurious pet boarding

Being your boss and running your own business is one of the great American dreams that many of us still have. One of the challenges is to find a business that you can be happy with, and love going to, every day for the rest of your life. One somewhat unique business that a lot of us could probably get into and be happy with would be starting a luxury dog boarding business, especially if you have a love of dogs.

Whatever Kind of Business You Choose, Research Is Important

Many people tend to jump into a business without first having a well thought out plan that involves knowing how much everything is going to cost, where you’re going to set up your business, advertising your business, and who’s going to work in your business.

outdoor play area dog boardingNot having a good plan and knowing where all the money is going to come from to carry out that plan can result in a catastrophic disaster and first bankruptcy for your business. If you’re planning on opening up a luxury kennel business, you’re going to need an excellent location that is free from interference from close by neighbors and government regulations which would be your number one priority to begin with.

Of course, the next thing that you’ll need is going to be excellent facilities because you’re going to have to be a full-service entity providing top-quality food, lodging, and dog washing for all of your potential dog clients that will be boarded there. When it comes to luxury dog boarding, many people expect their dogs to be in a cage free environment most of the day which means extra space needs to be available both inside and outside of your building.

You’ll Want to Take a Good Close Look at the Competition in the Area

Are there other full-service luxury dog boarding companies in your local area, and are they successful at bringing in top-quality clients? Do they have an excellent facility that can provide all of the services that you intend to provide or are they lacking necessary resources instead?

You’ll want to take a careful look at the competition to see if they are making a real income from the business, how much they charge their customers if the customers are happy, and if there’s enough business in the local area to support another business of the same type.

Exactly what kind of clients do they have patronizing the facility? A simple way to tell is to drive by and check out the automobiles that are in the parking lot at several different times of day during the week. If you’re seeing a lot of affluent looking upper-middle-class cars in the lot, then most likely they’ve got a good base of high-paying clientele.

You Need to Decide What Kind of Marketing and Advertising Will Bring in the Customers

As you undertake your business, you’re going to have to be bringing in new clients all the time. Are you going to advertise online, in newspapers, at the dog vets office, and at the doggie park where everyone is walking their dog? These are all questions that you’ll need to decide before you invest in your new business.

By taking the time to research every part of your new business before you invest any money, you’ll be better prepared to handle any surprises that are bound to come your way. Starting a new business entails a certain amount of risk, but by doing plenty of research you can eliminate a significant portion of that risk and ensure that you have a successful business, now and in the future.

What Exactly Is A Chartered Professional Accountant

chartered professional accountant's calculator and pen

Going to a financial professional is always a good way to get sound advice that people need to have. However, a lot of times people will have some problems in finding the right professional to go to because they are not sure if they are seeing the real person or not by definition which is when people should know more about what a chartered professional accountant is and what type of accounting they can do. Then people can finally relax and know their finances are properly taken care of, instead of relying on a professional who may not give the right advice that is needed.

What Makes A CPA Different From A Regular Accountant

When people look, they will find some people are considered accountants, but others are a chartered professional accountant. The main difference is the accountant would have completed the same education, but they never went through and completed the certification test from the governing body that is overseeing the accountants by giving them qualifying test and evaluating the work experience the accountants are bringing to the table if they are challenging the exams.

What Type Of Work Can A CPA Do

CPA LogoThe kind of work these professionals are going to do will vary. However, it is important to know about the work they are going to do. By knowing this information, it will make it easier to know if this is the career that people want to pursue or not.

Working in an accounting office is going to be the primary type of work people would do. With this type of work, people are going to be working in an office with other accountants either be working as a team on larger corporate accounts or they could be working individually with clients. However, the key is that the team will be working on the financials of a company as a whole.

Forensic accounting is a form of work that a chartered professional accountant can do, but with this type of work, people will be working with law enforcement to track down any illegal activity with funds. When people do this type of work, they are going to be rather busy and often need to be very detail oriented as they will be looking over hundreds of pages of information at a single point in time.

Tax offices are another location that has a tendency to use chartered professional accountants. While this type of work may be seasonal, it allows people to get a premium for their results. Since this is the case, people will have a chance to go into the job and make enough money to supplement their entire yearly income from the job.

Is The License Controlled Per Province Or Nationally

The license is a gray area and depends on the state that people are seeing the accountant in. For example, if an accountant is chartered in British Columbia, they may not be able to say they are a CPA in Ontario which is because the laws require a CPA to be chartered in the state they are working in to get the right to say they are chartered.

When people are looking for financial help, they may realize they need to have a financial adviser. However, what people need to understand is if they need to have help with an accounting question they may have to speak with a chartered professional accountant. By doing this, it is going to be easier for people to see which of the experts they need to talk to for financial advice.

Advantages and Disadvantages of a Mortgage Broker

advantages of a mortgage broker

A mortgage broker is a certified individual who has invested years of training to wind up a specialist in mortgages. Directed by the Financial Services Authority, they have strict guidelines for rules that they have to follow to incorporate the data they provide for them, and the moral choices they make on any money-related advice they give to you. These guidelines help them work more efficiently.

Advantages of mortgage brokers

Mortgage brokers offer the potential home purchaser the benefit of proper guidance because they are free. Regardless of the possibility that a mortgage broker fits in with an organization, you ought to still be offered a more popular decision with regards to the kind of mortgage you take out, and also whom you bring it out. Contrast this with banks and lending institutions, which attempt to organize your mortgage exclusively with them, and the additional expense of utilizing a broker is more than worth it.

mortgage application formDiscover the mortgage that is right for you which is based on their experience which you might be missing when you need a mortgage. They consider if you have a family or not to get the mortgage that best suits your situation.

Get a mortgage “number cruncher” that will offer you some assistance with deciding the amount you can borrow when you need a mortgage.

Matthew Chan, a Burnaby mortgage broker says “Clarifying the different mortgages – settled rate or variable, self-certification or advertisement credit mortgage, among other things that might be of importance to you as a buyer of the mortgage.”

They can likewise offer you some assistance in arranging the best review organizations to utilize, close your printed material, mastermind legal expenses and exhortation – essentially anything associated with a mortgage, a broker can offer assistance you with these.

Disadvantages of mortgage broker

working with a lending agentOne of the primary reasons home purchasers are put off by utilizing a mortgage broker is a result of the additional cost included – all things considered, they are as of now burning through thousands on the property itself. Be that as it may, the extra expense can regularly be incorporated inside of the mortgage itself, and regardless of the possibility that it is not, the couple of hundred pounds you spend on a mortgage broker’s skill could spare you thousands over the long haul.

Some mortgage brokers may not have required experience in the market giving wrong advice that can increase the cost involved in buying a mortgage.

Some people might think that a mortgage broker will not have their best interests at heart. Maybe all they want is to collect their paychecks and move on to the next deal. These things can be viewed as disadvantages for hiring a professional.

Some mortgage broker might have more than one deal which is considered a significant disadvantage to the buyer of the mortgage. In most cases those brokers with more than one deal often do not work out effectively as a result of complex documents.

How A Financial Advisor For Debt Management Can Help You

debt management financial advisor

Most people in developed countries have financial problems. Even households with a higher than average income are burdened by credit card debt. Borrowing from one card to cover the monthly balance on another one is common practice. However, such unhealthy habits don’t help people get rid of their debt, many individuals being already certain they are never going to become financially independent.

Donald Frank of points out “The role of a financial advisor for debt management is to help people understand which are their most dangerous behaviors and money-related habits so that they can correct them. Most people who struggle with debt have no idea what a monthly expenses budget is. They never plan for the future. They just spend their salary until it’s finished, and then start borrowing money from friends until their next pay. This habit alone has the effect of a boulder rolling from the top of a hill.”

You use the money to buy food and to pay your bills, but this takes a toll on your next month’s income. By the time you repay your debt, the remainder of your salary isn’t going to be enough for all your current expenses. Soon you are going to run out of cash again, so you are going to ask your friends for another round of help. Add an emergency situation on top of this habit and you can quickly sink in the debt ocean which is the moment when payday loans kick in. You get approved for a cash advance, you use the money to sort out your emergency, and you hope you are going to repay it as scheduled. However, when the next pay comes, you are going to be left with nothing, as all this debt may even exceed the money you earn. Since you have no savings, this can be the beginning of the disaster for you and your family. You could use professional help to overcome this challenge, as you aren’t savvy enough to sort it out by yourself.

debt repayment planningA financial advisor for debt management can provide you the education you lack so that you can understand the basic money management principles. You are going to learn how to budget for various expenses and which debt to repay first. A smart advisor should be able to offer you creative solutions for repaying your debt faster. For instance, you may reduce the interest rates a lot by refinancing all your loans and credit cards. You can start building your emergency fund slowly but surely. Even if you manage to put aside 10% of your earnings, you can save a nice amount, provided that you are consistent. Smart financial advisors teach their clients to automate the saving process. You can instruct your back to take 10% of your earnings and deposit it into a special savings account. Since you aren’t going to see this money, saving it is going to be easier. There are many other helpful tips like this a debt management professional can teach you.

The Role And Responsibilities Of The Commodity Futures Trading Commission

cftc building

The Commodity Futures Trading Commission (CFTC), established in 1974, is an independent agency which regulates the options and futures markets. Under the Commodities Exchange Act, it is illegal to commit fraud during futures trading. The CFTC’s mission is to foster transparent, open, financially sound and competitive markets. The CFTC is tasked with avoiding systemic risk and protecting the market users, their funds, the public and consumers from fraud, abusive practices, and manipulation. Following the financial crisis of 2007 and under the Dodd-Frank Act, the CFTC has been transitioning to stricter regulations and more transparency in the multitrillion-dollar swaps market.


For more than 150 years, futures contracts for agricultural commodities have been traded in the United States. These trades have been regulated by Federal law since the 1920s. In 1922, the Grains Futures Act set the central authority. This authority was updated in 1936 by the Commodity Exchange Ac.

Trading in futures has expanded rapidly since the 1970s and includes commodities beyond physical and agricultural. Today, futures trading involves a wide variety of financial instruments, including U.S. and foreign government securities, foreign currencies, and international and U.S. stock indices.

The CFTC was created in 1974 by Congress with the mandate to regulate the futures and options markets within the United States. It replaced the U.S. Department of Agriculture’s Commodity Exchange.

In 2000, Congress passed the Commodity Futures Modernization Act, which expanded and renewed the mandate for the CFTC. This act also directed the Security Exchange Commission to partner with the CFTC in developing joint regulation for the single-stock futures market. Single-stock futures started trading in November 2002.

In 2010, the CFTC realized expanded authority in regulating the swaps markets under the Dodd-Frank Act. The commission was directed to prohibit reckless schemes which attempt to manipulate the market.


Another responsibility of the CFTC is to encourage efficiency and competitiveness of the futures market. Its goal is to ensure its integrity and to protect users against abusive trading practices, manipulation, and fraud. The commission also provides the clearing process’ financial integrity. Like the SEC, the CFTC does not regulate directly the soundness and safety of individual firms, unless they are swap dealers or participants.

Beginning in 2014, the CFTC is responsible for overseeing designated contract markets, swap data repository, derivatives clearing organizations, swap dealers, commodity pool operators, futures brokerage commission merchants, as well as other intermediaries. The CFTC works in partnership with other foreign regulators, including the Financial Conduct Authority in the United Kingdom.

Oversight Of Derivatives

In 1998, energetic lobbying resulted in the CFTC being provided responsibility for oversight of over-the-counter derivatives which was in addition to the commission’s current mission which gave them responsibility for regulating exchange-traded derivatives.

There was some concern that the CFTC would change the Swap Exemption and may try to impose new regulations on the swap market. There were two reasons for this. First, the CFTC commented on the SEC broker-lite proposal that it might create possible conflict with the Commodity Exchange Act CCEA). They stated this was because certain OTC derivatives fall under the CEA and as such are subject to the authority of the CFTC.

Second, in May of 1998, the CFTC published a concept release which asked for comment on regulating the OTC. The CFTC wanted to know if regulation of the OTC derivatives market should be done and what the regulations should cover.

In 1999, at the request of the U.S. Treasury, the SEC, and the Federal Reserve Board, legislation was passed which limited the authority of the CFTC to make sure rules as they pertained to swaps and hybrid instruments. This limit, which lasted until the end of March 1999, froze pre-existing legal status of hybrids and swap agreements if they were already entered into under the Swap Exemption, the Swap Policy Statement, the Hybrid Instrument Rule, or the Hybrid Interpretation.

The CFTC has provided secret exemptions from hedging regulations to 19 market participants and banks since 1991 which has allowed these entities to accumulate unlimited positions. The 2008 financial crisis brought these practices to light when Congress asked for information on who participated in the markets which was especially important because a bank or a trader with an exemption could impact the price of a commodity.

Other loopholes in CFTC regulations are believed to have contributed to the lack of transparency and the skyrocketing prices of the oil markets.

In November of 2014, the UK Financial Conduct Authority and the CFTC fined six banks for their role in manipulating the foreign exchange market. These banks were Chase, JPMorgan, Citigroup, RBS, HSBC, and UBS. The fines totaled almost $1.5 billion to the CFTC and $1.2 billion to the UK Financial Conduct Authority.

The CFTC maintains offices in New York, Chicago, and Kansas City, MO. There are presidentially-appointed commissioners who serve five-year terms which are staggered.

An Overview on Day Trading Crude Oil


crude oil tanks

Crude oil day trading is among the exciting products one can choose to day trade. The great liquidity it possesses allows one to realize whether they are right or wrong in the trade since moves a little bit. For this reason, it’s among the most profitable products that anyone should trade in. crude oil trading is a fast moving market and one can see relatively large p/I swings by trading a single contract using just $10. Many active day traders find Crude Oil as an excellent day trade choice.

Among the reasons that make crude oil trading a hot choice includes the fact that the volume traded averages at about 300,000 contracts daily. The liquidity is another factor; crude oil trading is considered a liquid trading market, although it usually not as liquid as others like the eMini SP. A trader should understand that slippage is more likely in markets that are of less liquidity. Slippage here means getting filled at prices that aren’t the ones desired. Traders, therefore, should be ready to experience slippage to some extent in crude oil day trading.

crude oil day tradingThe trading hours in crude oil day trading are usually from 9 AM to 2.30 PM EST. These regular sessions are at times referred to as Pit Session hours. The extended trading hours are 23.25 hrs. that has a 45-minute break. Each day for the extended trading hours starts at 4.15 pm CT.

Another of the main reason one should consider trading crude oil is the intraday volatility. Volatility refers to the measure of the distance the market will change over a period of time. This shift is usually in either direction. Markets with higher volatility are preferred by traders than those with less volatility. Volatility in this market varies not only weekly and monthly, but it depends on the day of the week as well. Volatility is mostly elevated around Wednesdays during the weekly crude oil inventory report. As a matter of fact, the report has the ability to shake the market back and forth in a dramatic manner such that most traders pause for a while to let the tremors settle before starting any other trades.

The point value for crude oil day trading is $100, and the trade moves in percentage increase of 1/100. That means that the least price move will be $0.01 and the dollar values 10 dollars. Each shift of the price of the contract by a cent will mean a change of the dollar value by $10.

crude oil tradersThe price drivers in this market are not only the inventories. Through speculation, the crude oil market can see desirable trends, in fact during the 2008 oil spike, speculators got their share of the blame for pushing the prices too high. Despite the market being driven by speculation, there are many more factors to consider. The same is what happened in the 2014 and 2015 plummet.

Looking from the demand point of view, the effect of growth level in countries like India, China and Brazil must be taken into account. Demand from these countries increases when the global economy is at a healthy state. This is the main reason oil prices and stock market seem to move in tandem. Crude oil has its price in dollars which means that variation in the dollar value has the ability to affect the oil prices inversely.

Crude oil is a great market option for a day trader. The market has many influences that drive the price and since when many businesses are being done, the liquidity shifts the market fast. Crude oil day trading is a market with lots of activity for a day trader to get revenue from.