FENG Toronto Chapter Networking Meeting
Topic: Networking Tips for Finance Professionals
Speaker: Steve Rosen, Principal at PTC Accounting & Finance
Date: Tuesday, November 4, 2014
Time: 5:00 PM to 7:00 PM
Pallett Valo LLP
Lawyers and Trade-Mark Agents
77 City Centre Drive
West Tower, Suite 300
Mississauga, Ontario L5B 1M5
Steve joined PTC in 2011, and was appointed a Principal in 2014. Steve graduated from the University of Toronto with a degree in Industrial Engineering, followed by a Masters in Business Administration, and earned his CMA designation in 1992. Steve’s career crossed a variety of industries, starting with 15 years in Consumer Packaged Goods Finance with Procter & Gamble in Canada and the US. Steve subsequently served in a number…Learn More
At the conclusion of a job interview the recruiter and/or manager will usually ask if, “you have any questions?”. This is arguably one of the most important parts of the interview. Many candidates perform well when answering the standard set of behavioral and situational questions. This often leaves the recruiters and hiring managers to consider other factors in the decision making process. One of the first places they look is to the questions you asked them. Some people ask questions that can easily be found on the company website, not good. Others may ask questions about lunch breaks and vacations, also not good. These are self serving questions and don’t add any value to the conversation.
Employers want…Learn More
When it comes to maternity leave we should be clear on one thing at the very beginning. What most people consider maternity leave is actually two types of leave: pregnancy leave of 17 weeks and parental leave of 35 weeks. Combined this accounts for 52 weeks of leave for a new parent. Parents who adopt are only entitled to 35 weeks of parental leave. There are distinctions between the two types of leave but for simplicity we’ll treat them both as maternity leave.
Employers have several obligations when it comes to maternity leave but employees also have some obligations. First and foremost employees must give two weeks of written notice of when their maternity leave will begin. It may begin…
Are you wondering what the perfect gift would be for an accountant this holiday season? We did the legwork and went around the office surveying our team of accountants. Some initial responses ranged from luxury cars to extravagant vacations (which we’re guessing aren’t gifts they’re likely to get this holiday season…), so we narrowed down the criteria, and asked them to focus on items that can be used within the confines of the office or on their way to work. That allowed us to narrow down the 10 best items you’ll want to surprise a loved one, friend, colleague, coworker – or possibly add to a wish list of your own.
The list caters to all budgets and all items…
Many people have heard the expression plan your work and work your plan. This is sound advice for many aspects of business productivity including Workforce Planning. Having to fill a sudden vacancy can be made easier if some contingency planning has taken place in advance of the need. Two important steps filling to short-term needs are identifying positions that have no redundancy and establishing sources for replacement talent in advance of the need.
In today’s lean economy there is very little fat. Very few positions have built in redundancy. One way to build in some redundancy is to cross train employees on various positions in advance of having to backfill a holiday or an extended leave. By cross training an…Learn More
There is no easy answer on how to decide on whether a new hire should come from inside your company or outside. There are a variety of factors that influence the decision. There are hard costs and soft costs associated with both approaches. External hires generally receive higher compensation than internal resources. They need more time to be become productive as much as two years in some cases. According to research conducted by Matthew Bidwell externals hires have a 21% higher voluntary departure rate then internal hires. Clearly it’s not an easy choice.
The training costs of a new hire can go either way. Teaching a new hire how an organization works takes time and money. For this reason internal…Learn More
For many people when they hear “12 weeks paid leave” they have only one question; how do I get a job like that? The power of a sabbatical is such that people want to know who offers them and what you need to do to qualify for one.
Sabbaticals are rooted in the world of academia. Professors typically get several months off as a paid sabbatical to focus on their own personal and professional development. However in the corporate world, sabbaticals have been relatively rare. Only 5% percent of U.S. companies offer paid sabbaticals, according to a Society for Human Resource Management survey. Another 18% offer unpaid sabbaticals.
They tend to be offered by larger companies. Intel has offered eight-week paid…Learn More
There are many reasons someone may have been out of the workforce for an extended period of time but the most common is to raise a family. You may also have left to care for a family member or to recover from an illness. None of these situations invalidate your potential for new employer. If you plan on returning to the workforce at some point the best thing you can do for yourself is stay current with technology and your industry if you will be returning to that. If you have been away from work for more than a year there are a number of things you can do to make the transition back to working easier.
Technology moves rapidly…Learn More
Bill 168, an amendment that covers violence and harassment in the workplace is not new legislation. The Act to amend the Occupational Health and Safety Act came into effect June 15, 2010. Each workplace has subsequently been required to have the necessary policies and procedures in place. The impetus for the bill was to deal with bullying in the workplace that can escalate into violence.
It was just such a case that brought Bill 168 into existence. The families of Lori Dupont and Theresa Vince lobbied for the bill after Dupont was killed by her ex-boyfriend, Dr. Marc Daniel, in 2005 at Hotel-Dieu Grace Hospital in Windsor, Ont. Dupont and Daniel both worked at the hospital and the hospital was…Learn More
Accessibility for Ontarians with Disabilities Act was passed in 2005 to develop standards with milestones set every five years to make Ontario accessible by 2025. It is mandatory that all businesses with more than 1 employee and non-profit organizations must comply. Fines for not complying can reach $50,0000/day. AODA will set the accessibility standards in the following areas:
The deadline to file your business’ accessibility report is
Are you ready to file?
PTChr your resource partner has the perfect AODA expert to help prepare your company.Learn More
#1 – Tesco’s fall from grace
Tesco is a multinational grocery and general merchandise retailer headquartered in the UK.
Commercial department booked payments from suppliers into wrong accounting period.
The price they paid…
£20bn ($31.25 billion) wiped off its value, credit rating plummeted, stocks down by 53%, slipped in ranking from 2nd largest grocer in the world to 3rd largest.
More on this case: Read More…
#2 – Bank of America’s “incorrect adjustment”
Wrong accounting data sent to the Federal Reserve.
The price they paid…
$4 billion, plans to raise dividends and buy back stock were suspended.
More on this case: Read More…
#3 – American Realty Capital Properties Inc.
American Realty Capital (“ARC”)…Learn More
In Ontario our Maternity and Paternity Leave qualifications for an employee are clearly outlined. In most cases the employee will take all or a portion of the leave available to them. In some cases the employee will take all of the leave available to them but will not return to work. This can lead to staffing issues from the trickle-down effect relating to the backfilling of the employee that was on leave. A key consideration is to find out as soon as you can when the employee plans on returning to work. You should have a “keep in touch” plan for all employees that are on an extended leave whether or not it is related to childbirth. There are…Learn More
For many HR professionals Maternity Leave is the primary issue they have to deal with when it comes to child birth. According to Statscan 9.4% of fathers take parental leave. On average these fathers take 7 weeks of leave after the arrival of their newborn. That works out to about 1 in 10 of your male employees will be taking parental leave in a given year. This could be a significant number if you have a large workforce or it is predominantly male. It is believed that social factors have kept the rate of those taking leave lower than in other locations. In Quebec for instance about 80% of fathers take parental leave. (Quebec has an enhanced Parental Leave…Learn More