9th edition of 2009

May 4th, 2009

A Simple, Modern and Efficient Value-Added Tax System in Canada-Column by the Minister of Finance

The following text by the Honourable Jim Flaherty, Minister of Finance, was submitted to Montréal's La Presse and The Gazette newspapers for inclusion in their April 15 editions.

"You have likely read a lot in the past few weeks about the harmonization of sales taxes you pay - the GST and QST. While not the most exciting issue or the easiest one to understand, it's an important one for both our economy and jobs.

"Recently, the Quebec government acknowledged that the provincial sales tax was not fully harmonized with the GST - and that they may now want to adopt the same harmonization model that Ontario had just agreed to. Quebec's decision to consider adopting this harmonization model is a positive sign for a simpler and better tax system.

"Why has Ontario - as Nova Scotia, Newfoundland and Labrador, and New Brunswick had before - decided to move to the harmonized model? They harmonized because it is good for businesses, reducing their tax burden. Ontario's decision to harmonize will result, for instance, in approximately $5 billion less in taxes paid annually by businesses on their inputs - a stimulus to the economy at a time when it is necessary. This will contribute to making businesses more competitive, allowing them to boost investments and create jobs.

"The Quebec government has already recognized that this is the smart thing to do in principle when they chose to adopt a somewhat similar, but different, value-added tax model in the '90s. Premier Charest's government has now indicated that it may be prepared to take the next step forward and adopt the full harmonized model - and our Government is ready to work with them to make that happen.

"For Quebeckers and Quebec businesses, adopting the exact same agreement that Ontario agreed to would mean the harmonized tax would be legislated and administered federally. The federal legislation would spell out the items and services on which the tax is paid, and the exemptions associated with it as well. This is a uniform set of rules that would apply across the country, as it currently applies in other harmonized jurisdictions. It is a fair and consistent approach to all provinces.

"Under this uniform set of rules, the tax base would essentially mirror the GST base, with the provincial portion of the tax not applying to the GST.

"Businesses collecting the HST would deal with only one tax administration regardless of where they do business with no unnecessary layers of bureaucracy. This would lower costs for governments and taxpayers.

"This is the consistent and fair harmonization model that exists in harmonized provinces, which the Charest government can choose to join. It is the model that Ontario chose in their recent budget, and under which other provinces have successfully operated for many years.

"A single harmonized model for businesses in Quebec and in other provinces would be good for the Canadian economy as a whole - more investment, more growth, and more jobs."

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ARE YOU IFRS READY?

International Financial Reporting Standards (IFRS) is coming to Canada. As of January 2011, all publicly accountable enterprises will be required to report their financial results under IFRS instead of Canadian GAAP. The organizations immediately affected include public companies, that is, those listed on Canadian stock exchanges, and crown corporations. Private companies have the option to convert to IFRS but are not required to do so.

2011 may seem far away but in order to adhere to regulations, companies require an opening balance sheet or a 2010 balance sheet and 2010 is just around the corner.

As public companies begin their conversion efforts, many private companies are starting to determine whether it is in their best interest to convert over to IFRS at this point as well. This is especially true for the larger private companies that seek multiple sources of funding or are eventually hoping to sell their operations to another party. Most organizations, if they have not done so already, are beginning to evaluate how IFRS would affect their reporting.

IFRS brings some substantial changes for bookkeepers. For one thing, the format of the financial statements will change from what Canadians are accustomed to. For example, upon looking at a balance sheet, it will not be obvious that assets balance to liabilities plus equity. In fact, the totals for each of these categories are not even required to be presented on the proposed financial statement.

Furthermore, the common split between current and long-term assets and liabilities will no longer be obvious either. In fact, a balance sheet will look more like today's cash flow statement, being divided into an operating, investing, and financing section.

The best way to educate oneself on IFRS is through a course on the changes between IFRS and Canadian GAAP. You can also attend a short webinar first to get an introduction to IFRS and assess how it will impact you.

Karine Benzacar, MBA, CMA, CPA (Del) is Managing Director of Knowledge Plus Corp. (www.knowledgeplus.org) an organization which provides IFRS training.

IFRS FOR BOOKKEEPERS AND SMALL TO MID-SIZED BUSINESSES (WEBINAR)

IFRS (International Financial Reporting Standards) is coming to Canada. By 2011, all publicly accountable companies, public companies listed on the Toronto Stock Exchange, and crown corporations will be required to report their financial results using IFRS instead of Canadian GAAP. Private companies are not immediately required to convert to IFRS but have the option of doing so.

How does IFRS affect bookkeepers? How does it affect small and mid-sized companies? Attend our webinar on May 12, at 3 pm EST to find out! For more information, visit www.knowledgeplus.org.

Topics covered

Topics include:

· Overview of IFRS

· What is IFRS?

· The benefits of IFRS

· When will it impact companies?

· Impact of IFRS on private companies

· An overview the international accounting framework

· Impact of IFRS on bookkeepers

· Summary of major changes between IFRS and Canadian GAAP

· New presentation format for financial statements

· IFRS as a moving target

· Where to get additional information to stay current on IFRS developments

Workshop format

This workshop is being offered as a 90-minute webinar with an opportunity for participants to ask questions through the web.

Who will benefit

This webinar is an introduction to IFRS and is intended primarily for bookkeepers as well as small and mid-sized business owners. It is designed to provide the basics of IFRS to bookkeepers and business owners, help them understand how IFRS will affect bookkeeping, and help bookkeepers as well as business owners prepare for Canada's conversion to IFRS.

Karine Benzacar, MBA, CMA, CPA (Del.) is the Managing Director of Knowledge Plus Corp.

Special Offer

IPBC Members will receive a 10% on the course. Please email your discount request to info@knowledgeplus.ca (or alternatively, through the "contact us" section of the website) at the same time that you register for the course.

*Important note: The discount is only available if you request the discount at the same time that you register for the course.

www.knowledgeplus.org

Why Everyone Should Have A 12-Month Marketing Plan!

If it's not written down and it doesn't have a due date, then it's not a goal. Goals are different from dreams in that they're meant to be accomplished usually within a short period of time. Unlike dreams, goals are well defined, written down, and have a set due date that must be met.

The importance of having well-defined goals for your marketing cannot be understated. It is only once we have a goal set properly that things get done. Without them we tend to just wander aimlessly, getting distracted by other things that are more urgent but not necessarily more important.

The secret to getting things done is to...

Write down your goals!

Set a concrete due date!

Let other people know about your goals and due dates so that your name and reputation are on the line!

One of the most common problems or difficulties when first learning to set goals properly is in distinguishing long-term goals and short-term goals.

Long-term goals should have a due date of no more than three years away. Ideally you should set your long-term goals in broad terms with a target date of completion. Then work your way backwards to closer time periods like one year, nine months, six months, three months, and one month. Short-term goals can range anywhere from one day to three months away.

The shorter year time frame is for your goal the more detailed and definite it should be. Be sure to use very specific language when writing out your short-term goals.

My favorite way of doing this is by creating a 12 month marketing plan. Here's how. First make sure that all three areas of your marketing funnel are covered. These are...

1. Lead Generation.

2. Conversions.

3. Relationship Building.

Ideally, create an overview of the different tasks you have to accomplish during each month in each of these three areas. This will become the basis for your 12-month marketing plan. Then, go through month to month and change the details so that they are appropriate for the different marketing campaigns and opportunities of that month. An example of that would be in December to make sure that you include a Christmas campaign for both lead generation and conversions.

Here's just a small example from the marketing plan that I use...

Lead Generation: Find one new source of traffic each month for my evergreen lead generation campaign.

Conversions: Create at least one specific marketing campaign to send to my list of customers. Find something of immense value for them and craft an offer and a minimum 3 step marketing sequence.

Relationship Building: Send out Birthday cards to my members who have a Birthday that month. Create, print and send out a print monthly newsletter. Create and send out weekly marketing tips via email. Also touch base with appropriate JV partners.

These are all marketing activities that I make sure are accomplished each and every month. And every single one of them has a concrete due date as well. So, I strongly urge you to get started right away creating and following your own 12 month marketing plan. I promise you, if you do this one thing, you'll have your best and most profitable year ever!

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Shane Morgan is a professional Marketer and Copywriter who specializes in helping small to medium-size businesses increase their sales and profits, especially in difficult times.

Visit his web site to receive a free special 1 hour audio presentation about the power of Direct Response Marketing: Discover How To Maximize Your R.O.I. For Every Advertising Dollar Spent. It's available at www.SmartThinkingMarketing.com/freeresources.html

IPBC NEWS DESK

From The Executive Director's Desk

Imagine networking with some of the top bookkeepers in the country. Imagine the chance to be on the fast track to a more lucrative practice . . . to being a certified professional bookkeeper (CPB) . . . and to receiving greater professional recognition inside and outside of this network. Regional Meetings are a vital part of that formula for success.

They're a unique chance to combine learning - a guest speaker shares expertise that's sure to make your work a bit easier - with fun and powerful networking. Every meeting is free to attend.

Meeting Details

VICTORIA, BC

Date: Tuesday May 5th, 2009

Time: 6:30PM to 8:30PM

Location: Christ Community Church

3897 Holland Avenue, Victoria, BC

Facilitator: Wendy Willis, CPB

Speaker: Don Thomson from Mardon Marketing Company Inc.

Topic: Prospecting, Personality Styles, and Good Follow-up.

About the Speaker

Don is one of the world's leading sale professionals with many years of experience selling to large corporations and small to medium enterprises.

After earning his BSc. with Honours in Electrical Engineering from Queen's University in Canada, he spent the next 14 years with Hewlett Packard in a variety of progressive sales and executive positions in Vancouver, Ottawa, Seattle and Hong Kong. He won the "Salesman of the Year" award two years in a row with Hewlett Packard (Canada) Ltd.

Following a transfer to Seattle, he was presented with the "Most Valuable Player" award for HP's Western Region. Don was promoted to a District Sales Manager at which time he authored a training module about prospecting titled, 'Keeping the Top of the Funnel Full' that was used in HP's world-wide sales offices.

Don was promoted as HP's Major Account Manager responsible for the sales team selling to The Boeing Company. Later he was promoted to HP's Area Sales Manager responsible for Computer Sales and Support in nine Asian countries. Stationed in Hong Kong, sales doubled in the Far East during his first year based largely on his implementation of an extensive sales training program.

Returning to the USA, Don was one of the top producers for Pyramid Technology Corporation winning admittance to Pyramid's Builders Club. He was the first Sales Professional of Sequent Computer Systems (Canada) Ltd. obtaining 120% of quota in the first year and becoming a member of Sequent's Top Gun Club. It is no accident that Don has exceeded his sales quotas every year of his career.

Don recently authored and published a book titled, 'Keeping the Funnel Full' based on his long and successful selling career. This book achieved Best Seller status in February 2008.

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HALIFAX, NS

Date: May 15th, 2009

Time: 6:30PM to 8PM

Location: Quality Inn Dartmouth

313 Prince Albert Road, Halifax, NS

Facilitator: Angela Franklin, CPB

Presenter: Colin Brien from MacDonald Chisholm Trask

Topic: E & O Insurance- Who needs it and why?

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CALGARY, AB

Date: Wednesday May 20th, 2009

Time: Dinner & Networking start at 6PM

Meeting starts at 7PM

Location:

ABC Country Restauraunt

11520- 24 Street SE, Calgary

Each attendee is responsible for his or her own meal and beverages

Facilitator: Allan Stenbeck, CPB

Topics: Roundtable on Challenges; Discussion of possible speakers and topics the group would like presented

All attendees will have a chance to submit challenges they face as bookkeepers. Some of these challenges will be presented to the group and an open discussion will show how others of us have dealt with these issues or bring forth new ideas on how to possibly handle them.

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VANCOUVER, BC

Date: Thursday May 21st, 2009

Time: 6:00 PM to 8:30 PM (We start and end precisely on schedule.)

Location: ABC Country Restaurant at the Accent Inn

2350 Boundary Road (Boundary & Lougheed Hwy)

--access parking off of Boundary Road

You are responsible for your own beverages and meals

Facilitators: Kathy Fike, CPB and Kandice Keith

Speaker: Alison Wheatley, MBA, from Route One Research & Marketing Services

Topic: Successful Business Management For Bookkeepers

You and your customers are partners in your business' success. Many small business owners are experts at their profession, but lack knowledge about effective business management. Lack of managerial expertise is one of the highest causes of business failure. This presentation teaches essential business management skills to make being an entrepreneur easier, by giving you tools to accomplish goals, make decisions, manage time and staff, and plan long range for increased sales and improved profits.

About the Speaker

Alison Wheatley is an MBA educated and successful entrepreneur who enjoys helping other small business owners achieve success. With over 18 years experience, she helps clients develop their business through researching and developing business plans and marketing programs and providing business coaching services.

With experience in over 20 different industries, Alison has learned the business lessons that divide the successful companies from the struggling ones. Her keen business insights and enjoyment in helping people accomplish their business visions make her supportive and informative.

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COBOURG, ON

Date: Wednesday. May 27

Location: The Mill Restaurant & Pub

990 Ontario St, Cobourg ON

Time: Arrival: 6:45PM

Presentation Time: 7PM-7:45PM

Facilitator: Denise Franklin, CPB

Presenter: Shelley Crowell, from the Ministry of Revenue Seminar Section

Topic: Are you prepared for an RST Audit?

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GUELPH, ON

Date: Wednesday May 27th, 2009

Time: 7PM

Location: Unitarian Congregation of Guelph, 122 Harris St., Guelph, ON

Facilitator: Maria Chovaz, CPB

Speaker: Cheryll Laird, Personal and Professional Development Coach

Topic: Marketing for Success

To register for any of these meetings, contact us at info@ipbc.ca --------------------------------------------------------------------------

UPCOMING MEETINGS

Alberta

Edmonton---TBA for late June

British Columbia

Vancouver --June 18th

Kelowna--TBA for late May

Prince George--TBA for late May

Nanaimo--TBA

Manitoba

Winnipeg--TBA

Nova Scotia

Truro-- TBA

Halifax--June 19th

Ontario

Ottawa--May 20th

Sudbury--TBA

Oshawa--TBA

Toronto--TBA

Saskatchewan

Saskatoon--TBA

If you are interested in facilitating a meeting in your area, please email info@ipbc.ca for an information package. Please include your full contact details.

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MEMBER BENEFIT

Looking for answers? Want to help a fellow bookkeeper? Join in the discussion on the members forum. If you are not presently receiving forum messages, send an email to info@ipbc.ca and we will get you in the loop. It's a great way to meet hundreds of bookkeepers from across Canada.

LOOKING FOR MORE CLIENTS?

Business owners from across Canada contact IPBC looking for a referral to a qualified bookkeeper. The only way that IPBC knows that you are a qualified bookkeeper is if you have passed the exam and become a Certified Professional Bookkeeper.

We have leads for you. Become certified and we can send you these hot leads. Contact Pat Johnson, Exam Coordinator at pat@ipbc.ca for exam details.

NEW MEMBERS & CPB GRADS

Welcome to our Newest Members in April

Alberta

Darlene Bertram, High River

Connie Sinasac, Sherwood Park

Michelle Russell, Medicine Hat

Gord McFarlane, Calgary

Arlee Hoecherl, Edmonton

British Columbia

Satish Damodaran

Ontario

Susan Peters, North Bay

Barb Parker, Chatham

Susan Luyendyk, Grafton

Lynh Vo, Barrie

Manitoba

Sherilyn Krentz, Winnipeg

Saskatchewan

Kim Askin, Rosetown

Congratulations to our newest CPB Grads in April

Alberta

Sharon Ruta, CPB, Edmonton

British Columbia

Barbara Westcott, CPB, Vernon

Ontario

Linda Vogel, CPB, Apple Hill

Amanda Jobin, CPB, Sudbury

Spring 2009 Accounting Technology Seminar Series

The Accounting Technology seminar series kicks off its 14th year to bring you the latest in technology for accountants, bookkeepers, and consultants.

This FREE one day seminar, in 7 Canadian cities, features an intensive series of presentations designed to keep you up to date on the latest technology for an accounting, bookkeeping or consulting practice.

Part of the day will focus on the technology you use in your office; the balance of the day will feature the accounting software that you install and support for your clients. Plus, I've got some amazing new communication tools to show you, including ooVoo and Twitter.

Over 600 of you have registered to date and there are less than 25 seats available in Vancouver and Toronto West. If you have completed your registration please ignore this message. If you haven't registered yet, do it now before we close registrations.

A reminder that these seminars qualify for PD credit for CAs, CGAs, CMAs and Certified Bookkeepers. Certificates will be available at the end of the seminar.

Remember that you have to register by April 30th to be eligible for the draw for a copy of Office 2007.

We've got some great new stuff to show you, including Windows 7 and a very early look at Office 14. You can look forward to an information packed day learning the latest from CCH, Microsoft, Sage, and Softrak. Plus presentations from Client Track, Easypay, QuickBooks and TelPay. And, of course, Alan's Picks with important information from Abacus Online Backups, Avalara, ADP Canada, eCourier, The Knowledge Bureau, IPBC, Logicim, and MISys, Inc.

If you are a CA, CGA, CMA, or a certified bookkeeper through IPBC, the Accounting Technology seminar counts for 8 CPDs and it's verifiable. We will have a confirmation letter for you at the end of the seminar.

Our registration website provides you with information about the seminar series, including the program, dates, cities and much more.

Alan Salmon

Chairperson

2009 Accounting Technology Seminar Series

PS: Each attendee will get a complimentary subscription to my new Excel Tips series.

Click here to register.

MEMBER PROFILE

Name: Laura Roth

What is your company name?

Balance and Order Bookkeeping

Where is your business located?

Kitchener-Waterloo, Ontario

Are you Certified?

Yes.

How long have you been a member?

Since June 25, 2008

What do you enjoy the most about being a member of IPBC?

I decided to join the IPBC for two reasons. After researching liability insurance costs, I found the rate with IPBC to be the best because I was now part of a group.

Secondly, in this current world we live in, certification is the expectation for any calling. Even though I have a Business Degree with a Major in Accounting, I still wanted to have a Certified Professional Bookkeeper designation.

Further to the above reasons, I have been so pleased about the personal accessibility at IPBC to discuss any questions I may have had about the exam, education requirements and membership advantages. I have been enjoying seeing activity in "the thread" and I like that I receive emails when questions are posted.

I look forward to meeting other CPBs at local area meetings in the near future. We all need each other to thrive and grow.

--Thanks for sharing with us, Laura!

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If you are interested in being featured in the Member Profile section, send us the following:

Company Name

City and province

Are you certified?

How long have you been a bookkeeper?

What do enjoy the most about your IPBC membership?

A picture of yourself

IPBC Presents its First National Phone Teleconference

IPBC's first National Teleconference will be held May 20th, 11:30am PST. The meeting will be featuring the popular speaker Neil Godin of Neil Godin International, Inc. Neil will be doing a presentation on "How to Grow Your Business Organically" by working with and through your customers.

Members and non-members across the country are welcome to attend. To register for Neil's 45 minute teleconference, send your complete contact details to info@ipbc.ca.

Partner Spotlight

Making the Jump-Business 101 for the New Business Owner is an ideal reference resource for your bookkeeping clients to assist them in the move to prosperity. As often as not, it is the administration of the business that confuses and undermines the best intentions of the new business owner. Making the Jump helps to de-mystify this end of the business.

Join Sandi and Herb Holst as they visit the tasks and challenges that face most business owners and offer their advice and solutions to deal with them. IPBC members will receive a $2 rebate per book on delivery. Please mention your membership when ordering.

Visit www.holstequation.com for more information

Words to Inspire

The secret of success in life is for a man to be ready for his opportunity when it comes.

-Earl of Beaconsfield

Do you have a Website?

If you are an IPBC member, you should proudly be displaying the IPBC logo along with a link, so your visitor can learn a little about your professional association. Membership in IPBC gives you an edge over your competition.

Show the world that you belong to a professional association for professional bookkeepers by adding a short informational video about IPBC to your signature line in your email program. The link, entitled 'View this short informational video about IPBC' is found below.

In Outlook, click 'Tools', followed by 'Options', 'Mail format', 'Signatures', and 'New' or 'Edit', depending if you already have a signature. Then copy and paste the link, "View this short informational video about IPBC", into this spot. Click OK.

Feel free to contact us at info@ipbc.ca with any questions.

View this short informational video about IPBC

Do you have a story to share, or words of wisdom?

The purpose of the IPBC newsletter is to assist Canadian bookkeepers with tools, ideas, and resources to make your business efforts easier, and to help your business grow by delivering timely and thoughtful information. Do you have a story to share? Words of wisdom? Pass them along to us.

Email karenl@ipbc.ca