AS accountants, we are trained to produce a trial balance — one where debits and credits match perfectly, down to the last centavo. We do spend hours hunting for that stubborn one peso discrepancy, refusing to rest until the trial balance finally comes together. Naturally, many of us carry this same mindset into our personal lives, striving for what we’ve long been told is the ideal: “work-life balance.” Precision is our instinct; balance is our goal. For years, “work-lif
WE often think of an asset as something that adds value to a business. A company buys a building, a machine or another business because it expects to benefit from it for many years. But owning an asset does not mean that its value stays the same forever. A machine that was once highly productive may become outdated. A busy branch may start losing customers. New technology may change the way an industry operates. A business acquired with high expectations may eventually fa
A CLIENT once came to a CPA carrying the usual financial statements and supporting documents. Today, that same client may arrive with an AI-generated financial analysis, business recommendations, and even a draft report already prepared. But instead of asking the CPA to produce the analysis, the client may ask a different question: “Can you validate this?” That question captures how artificial intelligence is changing the accounting profession. The CPA’s role is shifting
“O tempora! O mores!” (Oh, the times! Oh, the customs!) — Roman statesman and orator Cicero IN today’s social media landscape, “echo chamber” has become a buzzword. At first, it sounded strange to a baby boomer like me. The Oxford Dictionary broadly defines an echo chamber as an environment where a person encounters only the beliefs and opinions that mirror their own, reinforcing existing views while filtering out alternative ideas. Online, we are flooded with informati
"A CPA license opens doors. An entrepreneurial mindset transforms opportunities into lasting enterprises." IN the late 1980s, receiving an invitation to join SGV & Co. was considered a badge of distinction among accounting graduates. The firm actively recruited from leading universities but earning that invitation was never automatic. Applicants underwent a rigorous series of screening examinations and interviews. For graduates from provincial schools, academic performance,
EVERY audit engagement begins with planning but before long, one question almost always arises: “When can we expect the audit report?” It is a simple question yet it reflects one of the profession’s enduring challenges: delivering a timely audit without compromising quality. Companies often need audited financial statements for SEC filing, loan applications, board meetings, investor requirements, or compliance with various regulatory agencies. Deadlines matter and everyone
