The Pacific Gateway and BC Business
SUMMER 2016
The Chartered Professional Accountants of British
Columbia was formed through the amalgamation
of ICABC, CGA-BC, and CMABC. CPABC was
officially established when the CPA Act came into
effect on June 24, 2015.
About
CPABC Industry Update is the organization’s
online magazine for members working in industry.
Published quarterly, Industry Update is distributed
to over 36,000 members, candidates, and
students in British Columbia. Opinions expressed
are not necessarily endorsed by CPABC.
Copyright CPABC Industry Update 2016.
Contact us
Visit us online at bccpa.ca, or email
[email protected]. Editorial inquiries can be sent to
Tiana Mah at [email protected].
BC has always been a gateway for people, goods, and services, and the
importance of the Pacific Gateway for BC businesses continue to grow. While
the US remains the top destination for BC exports, increasingly, our province’s
exports are destined for Asia, with nearly 20% going to Mainland China
in 2015. Similarly, BC is a top choice for students seeking an international
education. Nearly 20,000 foreign Asian students chose our province in
2013 to pursue educational opportunities. Location and infrastructure – BC
ports are closer to Asian markets than any other ports on the west coast – a
competitive marketplace, and culturally diverse populations make BC not
just a gateway city, but a world-class head office city, a topic we explore
further in this issue.
In this issue Industry Update also looks at the new world cities leading the
global economy, and HQ Vancouver’s president, Yuen Pau Woo, shares his
perspective on why Vancouver is transitioning from a gateway city to a
21st-century head office city. In addition, we examine how ready Canadian
companies are for the new revenue recognition standards that will be in
effect for periods beginning on or after January 1, 2018, discuss how you
can become a better leader by coaching others, and explore five myths of
operational efficiency.
At CPABC, continuous improvement and meeting members’ needs are two
goals we strive to meet. Based on member feedback from this year’s member
satisfaction survey, we’ve added in more articles to address issues facing
members in industry. We look forward to your input on what you’d like to
see in future issues of Industry Update.
As always, send your feedback and article suggestions to [email protected].
In this Issue
Click to return to In this Issue (page 3)
6
The New Leading
'New World Cities'
9
Vancouver: 21st-Century Head
Office City
12
Ready for the New Revenue
Recognition Standard?
15
Five Myths of Operational
Efficiency
19
Look for this icon throughout Industry Update
Be a Better Leader by
Coaching Others
6
in every issue
4
The Pacific Gateway
and BC Business
17
PD Opportunities
21
Connect with
CPABC Online
9
12
15
19
SUMMER 2016
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