BAC Accounting & Finance Society’s Post

🌟 Introducing Money Threads – Inspired by Financial and Tax Literacy by ICAI 🌟 💡 Finance doesn’t have to be complex. At Money Threads, our mission is to bring financial awareness to every individual, empowering you with the knowledge to make smarter money decisions. Inspired by the Financial and Tax Literacy initiative by ICAI, we are committed to aligning with the national mission of Vitiya Shaksharta (Financial Literacy), a cornerstone of sustainable development goals promoted by G-20 nations. ✨ What sets us apart? This page is run by Chartered Accountants who are passionate about simplifying the world of finance. We aim to build a community that’s not just financially aware but also financially empowered. ✔️ What We Cover: 📚 Simplifying Financial Concepts: Breaking down complex topics like inflation, compounding, and market trends into easy-to-understand insights. 💡 Personal Finance Tips: Practical advice to manage your income, expenses, and savings effectively. ⚙️ Money Management Hacks: Strategies to budget smarter, save more, and spend wisely. 💸 Tax-Saving Strategies: Expert tips to reduce tax liabilities and make the most of government policies. 📊 Smart Investments: Guidance on creating a diversified portfolio, exploring different asset classes, and building long-term wealth. 📖 Money Myths & Facts: Debunking common misconceptions and sharing surprising truths about money and finance. 📂 Case Studies: Real-life financial scenarios and success stories to inspire and guide you. 🔍 Industry Insights: Updates on financial trends, market movements, and regulatory changes to keep you informed. 🤔 Why is this important? Because financial literacy isn’t just about understanding money—it’s about creating a future where everyone can achieve financial freedom, contribute to the economy, and make informed decisions. ✨ Follow Money Threads today, and let’s weave a community of financially aware individuals. Together, we can simplify finance and transform lives, one thread at a time. #MoneyThreads #FinancialLiteracy #ICAI #VitiyaShaksharta #FinancialFreedom #SmartInvesting #TaxSaving

On 20 September 2024, Malaysia’s Finance Minister II, Datuk Seri Amir Hamzah Azizan, unveiled a financial incentive package for the Forest City Special Financial Zone (FCSFZ). Located on reclaimed islands between Johore and Singapore, Forest City is now a duty-free zone. The package aims to establish FCSFZ as a regional financial hub and includes a corporate tax rate of 0-5%, a 15% income tax for knowledge workers, a 0% tax for family offices, a 5% tax for certain financial services, and various incentives for banking and financial entities. Additionally, foreign banks will receive regulatory flexibilities for branch establishment and currency operations. The agreement between Malaysia and Singapore regarding the Johore-Singapore Special Economic Zone (JS-SEZ) is expected to be signed in November 2024. The FCSFZ is anticipated to complement the JS-SEZ initiatives rather than compete with them. All the above expresses anticipation for further clarification and specifics regarding the initiatives within the JS-SEZ and the FCSFZ. It emphasizes the desire for comprehensive details that extend beyond financial incentives, focusing on important aspects such as the development of local talent, community involvement, Sustainable Development Goals (SDGs), renewable energy initiatives, and the Bumiputera Agenda, which supports the economic interests of Malaysia's indigenous population.

Foreign businesses and investors are increasingly concerned about who might replace the reformist finance minister Sri Mulyani. I discussed with Erwida Maulia from Nikkei Asia the implications of Sri Mulyani’s departure for Indonesia’s future fiscal stability and the factors Prabowo would consider when appointing the new finance minister. “I think it is a done deal that ... Sri Mulyani will not join Prabowo's cabinet due to historical disagreements between [them],” said Dedi Dinarto, lead Indonesia analyst at public policy advisory Global Counsel, adding that given her reputation for reform and steadfast fiscal discipline, Indrawati's absence could pose “a significant risk” to Indonesia's fiscal stability. Despite initial market confidence from investors regarding the promise of policy continuity under Prabowo, he added, “We should expect businesses and investors to keep an eye on who will handle the finance portfolio, and whether the fiscal policies that will follow will be detrimental to business interests.” “While accommodating the wide range of political interests will be challenging for Prabowo, he should also deal with the fact that weakened global demand caused by geopolitical uncertainties will put pressure on Indonesia's economic growth,” Dinarto of Global Counsel said. “This should push him and his team to prioritize appointing technocrats over politicians for roles in [the] economic and finance portfolios.” #indonesia #financeminister #fiscalpolicy #election #prabowo https://lnkd.in/gV6ph3GS

Policymakers should prioritize medium-term growth by improving resource allocation, education, innovation, and policy frameworks, while addressing #fiscal and #trade risks. Indonesia's President-elect Prabowo Subianto has confirmed that Sri Mulyani, the widely respected finance minister, will join his cabinet. Her leadership in fiscal management is expected to reinforce Indonesia's trade policy, support critical reforms, and enhance the country’s global trade standing. This is expected to further strengthen long-term growth prospects and boost investor confidence, positioning Indonesia as a more competitive player in international markets.

#Indonesia - Indonesia's Prabowo swears in cabinet of over 100 ministers, deputies - from Reuters: Indonesia's newly minted leader, President Prabowo Subianto, officially swore in his cabinet on Monday, a team that analysts said reflected continuity of his predecessor's main policies. Prabowo took office on Sunday as the eighth Indonesian president, taking the mantle from Joko "Jokowi" Widodo. In a fiery speech to lawmakers, he promised to eradicate corruption and aim to reach self-sufficiency in food and energy. Prabowo's so-called "red and white" cabinet has 48 ministries w/over 100 ministers and deputies, including re-appointments of Sri Mulyani Indrawati as finance minister and Bahlil Lahadalia as energy minister. Sri Mulyani will preside over Prabowo's main programmes, including giving free meals to about 20 million children which could cost the state budget 71 trillion rupiah ($4.60 billion) in the first year, a number intended to keep the annual fiscal deficit under a legislated ceiling of 3% of gross domestic product. A former World Bank managing director, Sri Mulyani has earned plaudits for reforming the taxation system while working under 2 presidents before Prabowo. She did not answer questions on her future fiscal policies on Monday and merely told reporters she was "ready for duty." Investors fear Prabowo's huge spending plans might derail its track record of fiscal prudence in Southeast Asia's largest economy. Other key re-appointments include chief economic minister Airlangga Hartarto and Erick Thohir as the state-owned enterprises minister. Meutya Hafid, a former reporter who will head up the newly renamed communications and digital ministry, said she would focus on data protection, online safety for children & make sure the internet is accessible to all. Investment minister Rosan Roeslani said his focus was on expanding Jokowi's policy of increasing domestic resource processing to include fisheries and seaweed. Prabowo's re-appointments show his intention to continue the policies of Jokowi, especially on the economy, said analyst Burhanuddin Muhtadi. "Prabowo does not want to take further risks and that's why he chose key figures that served under Jokowi," he said, adding these appointments give Prabowo some political security. Indonesia's new foreign minister is Sugiono, deputy of the parliamentary commission overseeing foreign policy. Zulkifli Hasan, the minister overseeing food supply, said he would expand farming in Indonesia's easternmost Papua region to reach Prabowo's target of food self-sufficiency. Luhut Pandjaitan, Jokowi's senior minister who spearheaded Indonesia's mineral processing industry, has been named the head of the country's National Economic Council, which advises the president. Prabowo's cabinet differs in some aspects from Jokowi's as some ministries have been broken up or renamed. Education & culture ministries are separate, as well as environment and forestry. For full story click below.

Completed VITARA Strategic Management. It's a very insightful and informative course. Learnt best practices of developing and implementing the strategic plan. Indeed strategic management is a process. International Monetary Fund OECD Tax OECD Development IOTA

Please follow the JIAR page for summaries of research papers and more announcements. Journal of International Accounting Research #jiar #accountingresearch #aaa #aaaias

Please follow the JIAR page. Journal of International Accounting Research #jiar #accountingresearch #aaa #aaaias

Times are tough. Here's how to cope... Read article by CPA Silajji Kanyesigye Chair of the Tax panel of ICPAU (Institute of Certified Public Accountants of Uganda)

This is our new book namely: Accounting Theory, with my colleagues from UUM in Malaysia. I hope it will be useful for those who concern.