The document provides information on Paul Young and his experience and specializations. It then lists an agenda covering topics such as a CBO report on fiscal management in the US government, corporate taxation, government debt, state and local government fiscal health, and various blogs on topics like auditing, ESG, insurance, and more. Under each agenda item, links and sources are provided for further information.
Public Sector - United States - How to Transform Government - May 2023.pptxpaul young cpa, cga
Paul Young provides his expertise in various areas relevant to public sector organizations in the United States, including pre-sales, business development, and customer success management. He has experience in academia and is an subject matter expert in areas such as risk management, ESG and sustainability, financial reporting, auditing, emerging technology, and data/AI. The agenda covers reports from the CBO on US fiscal management and debt. It also discusses corporate taxation changes in the US, and fiscal health issues for state and local governments. Other topics include auditing challenges, ESG reporting, insurance risk mitigation, and improving governance models in government to focus more on ethics, accountability, and risk management.
Public Sector - United States - How to Transform Government - July 2023.pptxpaul young cpa, cga
Blog – How to Transform the Public Sector Model for the United States
Summary:
The nonpartisan Congressional Budget Office (CBO) announced that the federal government’s budget deficit more than doubled through the first 10 months of the current fiscal year compared to a year ago.
In its latest budget review released Tuesday, the CBO found that the federal deficit was $1.6 trillion in the first 10 months of fiscal year 2023 — a significant increase over the $726 billion deficit the federal government incurred in the same period last year.
The CBO noted that federal spending was 10% higher during the reporting period than it was a year, while tax revenues came in 10% lower, which combined to cause the deficit to widen. As a result, the CBO now expects the federal deficit for FY2023 will be about $1.7 trillion — or $200 billion larger than the forecast it issued in May.
Source: https://www.foxbusiness.com/politics/federal-deficit-hit-1-6-trillion-first-10-months-fy23-double-last-years-shortfall
Additional Links and Sources:
ESG / Public Sector - https://www.bdo.com/insights/sustainability-and-esg/99-of-the-s-p-500-is-reporting-on-esg-and-65-are-obtaining-esg-assurance?utm_source=Employee&utm_medium=Social&utm_campaign=BDOConnector&utm_content=None
Wildfires and geospatial - https://www.sacbee.com/news/politics-government/capitol-alert/article277936838.html
Housing - https://www.bloomberg.com/news/articles/2023-07-19/affordable-housing-shortage-looms-amid-inflation-high-construction-costs
Infrastructure - https://www.theenergymix.com/2023/08/09/u-s-infrastructure-clean-energy-spending-spurs-investment-business-activity/
GDP growth - https://www.conference-board.org/research/us-forecast
Tech - https://www.opentext.com/solutions/government-cloud-services?elqcampaignid=61788&utm_campaign=FY24-Q1-USA-ALL-ENT-ECM-GC-Cloud-for-Government-PPCTX-pd-gg-tx&utm_source=google&utm_medium=cpc&ldsrc=Marketing%20-%20Paid%20Inbound&gad=1&gclid=CjwKCAjw29ymBhAKEiwAHJbJ8reMqd56vozU8kmCntoFJK5J7L8dcG6Wzz_iA-O5qFGlMgbqej6CtxoCKckQAvD_BwE
Healthcare - https://www.fiercehealthcare.com/healthcare/6-biggest-drivers-healthcare-waste
USA generative AI - https://www.govtech.com/opinion/generative-ai-may-be-the-next-big-thing-in-digital-government
Challenges - https://bluewhaleapps.com/blog/the-federal-governments-top-5-it-challenges
Public Sector - United States - How to Transform Government - April 2023.pptxpaul young cpa, cga
The public sector continues to face many challenges. This presentation discusses different areas of focus. The public sector continues to look at ways to transform themselves.
Transforming the Public Sector| The United States| January 2022paul young cpa, cga
Summary
The world continues to head to big government.
More needs to be done to safeguard assets by the public sector.
Audited emergency and crisis management reports should be part of the fiscal management cycle
More money for auditor-generals as part of expanding performance and value for money audits across agencies and GBEs
Compensation and benefit reforms as part of reducing the cost of government
More adoption of the digital model as part of streamlining the government programs as part of better delivery of program spending through value fore money!
1. State and local government - https://www.govtech.com/security/general-hacking-community-tops-state-local-it-security-fears
2. Fiscal outlook - https://www.governing.com/finance/the-outlook-for-public-finance-in-2022-in-6-themes
3. Internal control - https://deloitte.wsj.com/articles/5-trends-influencing-internal-control-strategy-01641332680
4. Geopolitical risks – https://thehill.com/policy/equilibrium-sustainability/589435-climate-crisis-is-greatest-global-risk-in-2022-world
5. Climate mitigation - https://www.hilltimes.com/2022/01/10/dont-look-up-and-how-canada-needs-to-get-to-effective-climate-mitigation/337151
6. Value for money - https://www.hilltimes.com/2022/01/10/dont-look-up-and-how-canada-needs-to-get-to-effective-climate-mitigation/337151
7. Big government - https://www.economist.com/europe/2022/01/08/the-return-of-big-government-sparks-questions-for-europe
8. Privacy - https://openmedia.org/press/item/the-state-of-privacy
9. ESG - https://www.icaew.com/insights/viewpoints-on-the-news/2022/jan-2022/summary-of-public-sector-sustainability-reporting-landscape
10. Urban Planning - https://tomorrow.city/a/over-planning-and-the-risk-of-creating-less-inclusive-cities
Public Sector - United States - How to Transform Government - October 2022.pptxpaul young cpa, cga
Blog – How to Transform the Public Sector Fiscal and Governance Model – The United States – November 2022
Governments around the world are struggling with high inflation - https://www.bloomberg.com/news/articles/2022-12-08/us-federal-reserve-s-inflation-fight-spurs-crypto-tech-housing-market-drops
Tax reforms continue to be a challenge for all levels of government - https://www.atlanticcouncil.org/in-depth-research-reports/report/improving-tax-policy-in-lac-a-balancing-act/
More needs to be done to expand performance and operational audits across all levels of government.
GDP growth will continue to challenge all levels of government - https://www.ft.com/content/24dbcc0f-7974-48d7-9824-ab86b58a3a29 or https://www.gold.org/goldhub/research/gold-outlook-2023-global-economy-crossroads
Public Sector - United States - How to Transform Government - July 2022.pptxpaul young cpa, cga
All levels of government are facing many challenges including taxation reforms, delivery program spending with value for money, high inflation, fiscal gap, infrastructure gap, and the ability to mitigate the impacts of climate change.
Public Sector - United States - How to Transform Government - March 2022.pptxpaul young cpa, cga
Summary:
The USA budget YTD March 2022 hit $667B
The USA continues to struggle with high inflation. The Fed target of 2% will be difficult challenge to achieved due to many issues facing the USA economy.
State and local government local finances have stabilized.
There needs to be comprehensive housing strategy that involves all levels of government and the private sector including adoption 3D printing, reducing the time/cost for permits, water strategy, urban vs rural strategy, and a focus on protecting the environment while growing the economy in a sustainable way.
All levels of government must adopt better risks and crisis management reporting including annual audits.
Transforming the Public Sector| The United States| February 2022paul young cpa, cga
Summary:
What’s next: Manchin’s priorities are getting plenty of consideration as Democrats look to salvage their economic agenda, but as we said yesterday, changing the plan to suit Manchin is sure to raise some other Democrats’ hackles. “There could be significant difficulties in selling the package to progressive in the House,” Bloomberg’s Jennifer Epstein, Erik Wasson and Laura Davison report, citing a senior House Democrat. “Spending $800 billion would be a 75% cut from last year’s goal of a $3.5 trillion package. Trimming it down to primarily the climate change initiative would leave just one or two other programs, leaving many member priorities on the cutting room floor, the Democrat said.”
The bottom line: We started the week by telling you about a debate around Modern Monetary Theory, a school of economic thought that sanctions aggressive deficit spending and says resource constraints rather than fiscal constraints should underpin spending decisions. Did that line of thinking win in the pandemic response, or has it failed? We’re ending the week with an indication of just how much the political and policy winds around deficits have shifted in the last year or two.
Source - https://finance.yahoo.com/news/biden-plan-b-build-back-235849730.html
1. Fiscal gap – USA – https://www.mining.com/web/as-us-national-debt-hits-30-trillion-higher-borrowing-costs-negative-real-yields-will-make-it-harder-to-finance/
2. Property Tax - https://www.thebalance.com/best-and-worst-states-for-property-taxes-3193328
3. USA debt hits 30T - https://www.mining.com/web/as-us-national-debt-hits-30-trillion-higher-borrowing-costs-negative-real-yields-will-make-it-harder-to-finance/
4. State and Local Government - https://icma.org/blog-posts/4-factors-influencing-local-government-financial-decisions
5. Stimulus - https://www.northerntrust.com/europe/insights-research/2022/weekly-economic-commentary/crisis-that-wasnt
6. Healthcare - https://www.thedailybeast.com/doctor-shortages-in-the-us-after-covid-are-creating-a-looming-healthcare-crisis
7. Economy - https://www.dailykos.com/stories/2022/2/5/2078776/-Biden-takes-credit-for-blockbuster-jobs-report-as-GOP-caught-off-guard-from-his-economic-success
8. Keynesian - https://fee.org/articles/the-return-of-keynesianism/
9. Spending - https://www.gao.gov/blog/usaspending.gov-offers-insight-government-spending-data-quality-and-user-awareness-impact-its-usefulness
10. Pandemic responses - https://www.gao.gov/press-center/2022
11. Inflation and Drug Prices - https://www.reuters.com/world/us/biden-touts-plan-bring-down-drug-prices-helping-tame-inflation-2022-02-10/
12. Infrastructure bill - https://www.brookings.edu/blog/fixgov/2022/02/11/fighting-fraud-waste-and-abuse-the-infrastructure-bill-and-lessons-for-the-future/
Public Sector - United States - How to Transform Government - May 2023.pptxpaul young cpa, cga
Paul Young provides his expertise in various areas relevant to public sector organizations in the United States, including pre-sales, business development, and customer success management. He has experience in academia and is an subject matter expert in areas such as risk management, ESG and sustainability, financial reporting, auditing, emerging technology, and data/AI. The agenda covers reports from the CBO on US fiscal management and debt. It also discusses corporate taxation changes in the US, and fiscal health issues for state and local governments. Other topics include auditing challenges, ESG reporting, insurance risk mitigation, and improving governance models in government to focus more on ethics, accountability, and risk management.
Public Sector - United States - How to Transform Government - July 2023.pptxpaul young cpa, cga
Blog – How to Transform the Public Sector Model for the United States
Summary:
The nonpartisan Congressional Budget Office (CBO) announced that the federal government’s budget deficit more than doubled through the first 10 months of the current fiscal year compared to a year ago.
In its latest budget review released Tuesday, the CBO found that the federal deficit was $1.6 trillion in the first 10 months of fiscal year 2023 — a significant increase over the $726 billion deficit the federal government incurred in the same period last year.
The CBO noted that federal spending was 10% higher during the reporting period than it was a year, while tax revenues came in 10% lower, which combined to cause the deficit to widen. As a result, the CBO now expects the federal deficit for FY2023 will be about $1.7 trillion — or $200 billion larger than the forecast it issued in May.
Source: https://www.foxbusiness.com/politics/federal-deficit-hit-1-6-trillion-first-10-months-fy23-double-last-years-shortfall
Additional Links and Sources:
ESG / Public Sector - https://www.bdo.com/insights/sustainability-and-esg/99-of-the-s-p-500-is-reporting-on-esg-and-65-are-obtaining-esg-assurance?utm_source=Employee&utm_medium=Social&utm_campaign=BDOConnector&utm_content=None
Wildfires and geospatial - https://www.sacbee.com/news/politics-government/capitol-alert/article277936838.html
Housing - https://www.bloomberg.com/news/articles/2023-07-19/affordable-housing-shortage-looms-amid-inflation-high-construction-costs
Infrastructure - https://www.theenergymix.com/2023/08/09/u-s-infrastructure-clean-energy-spending-spurs-investment-business-activity/
GDP growth - https://www.conference-board.org/research/us-forecast
Tech - https://www.opentext.com/solutions/government-cloud-services?elqcampaignid=61788&utm_campaign=FY24-Q1-USA-ALL-ENT-ECM-GC-Cloud-for-Government-PPCTX-pd-gg-tx&utm_source=google&utm_medium=cpc&ldsrc=Marketing%20-%20Paid%20Inbound&gad=1&gclid=CjwKCAjw29ymBhAKEiwAHJbJ8reMqd56vozU8kmCntoFJK5J7L8dcG6Wzz_iA-O5qFGlMgbqej6CtxoCKckQAvD_BwE
Healthcare - https://www.fiercehealthcare.com/healthcare/6-biggest-drivers-healthcare-waste
USA generative AI - https://www.govtech.com/opinion/generative-ai-may-be-the-next-big-thing-in-digital-government
Challenges - https://bluewhaleapps.com/blog/the-federal-governments-top-5-it-challenges
Public Sector - United States - How to Transform Government - April 2023.pptxpaul young cpa, cga
The public sector continues to face many challenges. This presentation discusses different areas of focus. The public sector continues to look at ways to transform themselves.
Transforming the Public Sector| The United States| January 2022paul young cpa, cga
Summary
The world continues to head to big government.
More needs to be done to safeguard assets by the public sector.
Audited emergency and crisis management reports should be part of the fiscal management cycle
More money for auditor-generals as part of expanding performance and value for money audits across agencies and GBEs
Compensation and benefit reforms as part of reducing the cost of government
More adoption of the digital model as part of streamlining the government programs as part of better delivery of program spending through value fore money!
1. State and local government - https://www.govtech.com/security/general-hacking-community-tops-state-local-it-security-fears
2. Fiscal outlook - https://www.governing.com/finance/the-outlook-for-public-finance-in-2022-in-6-themes
3. Internal control - https://deloitte.wsj.com/articles/5-trends-influencing-internal-control-strategy-01641332680
4. Geopolitical risks – https://thehill.com/policy/equilibrium-sustainability/589435-climate-crisis-is-greatest-global-risk-in-2022-world
5. Climate mitigation - https://www.hilltimes.com/2022/01/10/dont-look-up-and-how-canada-needs-to-get-to-effective-climate-mitigation/337151
6. Value for money - https://www.hilltimes.com/2022/01/10/dont-look-up-and-how-canada-needs-to-get-to-effective-climate-mitigation/337151
7. Big government - https://www.economist.com/europe/2022/01/08/the-return-of-big-government-sparks-questions-for-europe
8. Privacy - https://openmedia.org/press/item/the-state-of-privacy
9. ESG - https://www.icaew.com/insights/viewpoints-on-the-news/2022/jan-2022/summary-of-public-sector-sustainability-reporting-landscape
10. Urban Planning - https://tomorrow.city/a/over-planning-and-the-risk-of-creating-less-inclusive-cities
Public Sector - United States - How to Transform Government - October 2022.pptxpaul young cpa, cga
Blog – How to Transform the Public Sector Fiscal and Governance Model – The United States – November 2022
Governments around the world are struggling with high inflation - https://www.bloomberg.com/news/articles/2022-12-08/us-federal-reserve-s-inflation-fight-spurs-crypto-tech-housing-market-drops
Tax reforms continue to be a challenge for all levels of government - https://www.atlanticcouncil.org/in-depth-research-reports/report/improving-tax-policy-in-lac-a-balancing-act/
More needs to be done to expand performance and operational audits across all levels of government.
GDP growth will continue to challenge all levels of government - https://www.ft.com/content/24dbcc0f-7974-48d7-9824-ab86b58a3a29 or https://www.gold.org/goldhub/research/gold-outlook-2023-global-economy-crossroads
Public Sector - United States - How to Transform Government - July 2022.pptxpaul young cpa, cga
All levels of government are facing many challenges including taxation reforms, delivery program spending with value for money, high inflation, fiscal gap, infrastructure gap, and the ability to mitigate the impacts of climate change.
Public Sector - United States - How to Transform Government - March 2022.pptxpaul young cpa, cga
Summary:
The USA budget YTD March 2022 hit $667B
The USA continues to struggle with high inflation. The Fed target of 2% will be difficult challenge to achieved due to many issues facing the USA economy.
State and local government local finances have stabilized.
There needs to be comprehensive housing strategy that involves all levels of government and the private sector including adoption 3D printing, reducing the time/cost for permits, water strategy, urban vs rural strategy, and a focus on protecting the environment while growing the economy in a sustainable way.
All levels of government must adopt better risks and crisis management reporting including annual audits.
Transforming the Public Sector| The United States| February 2022paul young cpa, cga
Summary:
What’s next: Manchin’s priorities are getting plenty of consideration as Democrats look to salvage their economic agenda, but as we said yesterday, changing the plan to suit Manchin is sure to raise some other Democrats’ hackles. “There could be significant difficulties in selling the package to progressive in the House,” Bloomberg’s Jennifer Epstein, Erik Wasson and Laura Davison report, citing a senior House Democrat. “Spending $800 billion would be a 75% cut from last year’s goal of a $3.5 trillion package. Trimming it down to primarily the climate change initiative would leave just one or two other programs, leaving many member priorities on the cutting room floor, the Democrat said.”
The bottom line: We started the week by telling you about a debate around Modern Monetary Theory, a school of economic thought that sanctions aggressive deficit spending and says resource constraints rather than fiscal constraints should underpin spending decisions. Did that line of thinking win in the pandemic response, or has it failed? We’re ending the week with an indication of just how much the political and policy winds around deficits have shifted in the last year or two.
Source - https://finance.yahoo.com/news/biden-plan-b-build-back-235849730.html
1. Fiscal gap – USA – https://www.mining.com/web/as-us-national-debt-hits-30-trillion-higher-borrowing-costs-negative-real-yields-will-make-it-harder-to-finance/
2. Property Tax - https://www.thebalance.com/best-and-worst-states-for-property-taxes-3193328
3. USA debt hits 30T - https://www.mining.com/web/as-us-national-debt-hits-30-trillion-higher-borrowing-costs-negative-real-yields-will-make-it-harder-to-finance/
4. State and Local Government - https://icma.org/blog-posts/4-factors-influencing-local-government-financial-decisions
5. Stimulus - https://www.northerntrust.com/europe/insights-research/2022/weekly-economic-commentary/crisis-that-wasnt
6. Healthcare - https://www.thedailybeast.com/doctor-shortages-in-the-us-after-covid-are-creating-a-looming-healthcare-crisis
7. Economy - https://www.dailykos.com/stories/2022/2/5/2078776/-Biden-takes-credit-for-blockbuster-jobs-report-as-GOP-caught-off-guard-from-his-economic-success
8. Keynesian - https://fee.org/articles/the-return-of-keynesianism/
9. Spending - https://www.gao.gov/blog/usaspending.gov-offers-insight-government-spending-data-quality-and-user-awareness-impact-its-usefulness
10. Pandemic responses - https://www.gao.gov/press-center/2022
11. Inflation and Drug Prices - https://www.reuters.com/world/us/biden-touts-plan-bring-down-drug-prices-helping-tame-inflation-2022-02-10/
12. Infrastructure bill - https://www.brookings.edu/blog/fixgov/2022/02/11/fighting-fraud-waste-and-abuse-the-infrastructure-bill-and-lessons-for-the-future/
Public Sector - United States - How to Transform Government - April 2022.pptxpaul young cpa, cga
Paul Young provides an overview of key issues facing the public sector in the United States. He discusses a CBO report that finds the federal budget deficit is improving but long-term fiscal challenges remain. Corporate tax changes and a global minimum tax rate are addressed. High levels of federal, state, and local government debt are also discussed. The document outlines Paul's expertise and provides links to further information on topics like audits, ESG reporting, risk management, and governance challenges across different levels of government.
Public Sector - United States - How to Transform Government - April 2023.pptxpaul young cpa, cga
Blog – Transforming the Public Sector for the United States – April 2023
Summary:
All levels of government continue to struggle with how best to manage scarce tax dollars while delivering program spending with value for money.
Additional sources:
Government continues to look at ways to move their operational model to a digital model - https://www.microsoft.com/en-us/industry/blog/government/2023/04/06/microsoft-for-government-leverage-data-and-ai-to-deliver-personalized-experiences/
Infrastructure spending - https://www.city-journal.org/article/the-more-some-states-spend-the-worse-things-seem-to-get
Pensions - https://crr.bc.edu/briefs-state-local-pensions/the-sustainability-of-state-local-pensions-a-public-finance-approach/
Fiscal challenges for state and local governments - https://www.canr.msu.edu/news/challenges-facing-michigan-local-governments
Fastest growing states - https://a-z-animals.com/blog/discover-the-fastest-growing-states/
Housing - https://www.axios.com/2023/04/12/affordable-housing-crisis-zoning
Crime - https://www.fatherly.com/news/safest-least-safe-counties-in-america-map-story
Cybersecurity threats - https://www.splunk.com/en_us/blog/industries/insights-from-public-sector-leaders-understanding-the-state-of-security-and-lessons-learned.html
Data and AI as part of strengthening emergency preparedness - https://ts2.space/en/the-role-of-ai-in-emergency-management-and-response/
Public sector and technology trends - https://blog.gitnux.com/local-government-technology-trends/
ESG and Sustainability Reporting - https://www.corporatecomplianceinsights.com/sp50-esg-analysis/
Transforming the Public Sector| The United States| November 2021paul young cpa, cga
In fiscal year 2021, which ended on September 30, the federal budget deficit totaled nearly $2.8 trillion—about $360 billion less than the deficit in 2020, but nearly triple the shortfall incurred in 2019. During the past two years, deficits were much larger than they have been historically because of the economic effects of the coronavirus pandemic and legislation enacted in response.1
In 2021, the deficit was equal to 12.4 percent of the nation’s gross domestic product (GDP), down from 15.0 percent in 2020, but up from 4.7 percent in 2019. The 2021 deficit was the second largest as a percentage of GDP since 1945 (the largest occurred in 2020).
1. Deficit - https://www.reuters.com/world/us/us-budget-gap-narrows-more-than-expected-year-earlier-october-2021-11-10/
2. Taxation https://taxfoundation.org/2022-tax-brackets/
3. Healthcare - https://www.americanactionforum.org/research/key-health-policy-provisions-of-the-build-back-better-act/
4. Infrastructure - https://www.piquenewsmagazine.com/national-business/us-infrastructure-bill-means-more-cash-and-contracts-for-wsp-global-ceo-says-4743343
5. Taxation at state and local government level - https://www.prnewswire.com/news-releases/ey-cost-study-state-and-local-government-tax-revenue-increases-despite-pandemic-301421351.html
6. Federal reserve - https://www.smh.com.au/business/banking-and-finance/us-inflation-hits-new-record-forcing-the-fed-to-rethink-its-strategy-20211111-p5981q.html
7. Climate change - https://www.ft.com/content/da0ac736-7c38-4f93-baaf-e315a51faf22
8. Housing - https://www.cnbc.com/2021/11/10/home-prices-are-now-rising-much-faster-than-incomes-studies-show.html
9. Corporate tax - https://dividedwefall.com/2021/11/05/global-minimum-corporate-tax/
10. Productivity - https://www.reuters.com/article/usa-economy-productivity-idCAKBN2HP1O6
11. Regulations - https://news.yahoo.com/regulatory-reformers-red-tape-formidable-184826530.html
12. ESG - https://www.pwc.com/gx/en/services/sustainability/publications/cop26/how-much-does-the-public-care-about-esg-pwc-cop26.html or https://ibm.box.com/s/vmyitcackqevvm1hcxv7wke6gudrpnce
13. Energy crisis - https://www.rigzone.com/news/wire/usa_should_have_enough_gas_to_avert_energy_crisis-09-nov-2021-166955-article/
14. Carbon tax - https://www.delawareonline.com/story/opinion/2021/11/05/u-s-must-enact-carbon-tax-its-essential-curb-climate-change/6280393001/
15. Pensions - https://www.pewtrusts.org/en/research-and-analysis/issue-briefs/2021/09/the-state-pension-funding-gap-plans-have-stabilized-in-wake-of-pandemic
16. Unfunded liabilities - https://www.lagrangenews.com/2021/10/16/brown-column-we-must-address-the-national-debt/
17. Policing - https://www.upworthy.com/americas-most-dangerous-city-defunded-its-police-department-7-years-ago-it-was-a-stunning-success or https://www.moneygeek.com/living/state-policing-corrections-spending/
Transforming the Public Sector| The United States| November 2021paul young cpa, cga
This document provides a biography and contact information for Paul Young, a CPA and expert in various areas related to public sector finance. It then outlines an agenda covering topics like a CBO report on the US budget, corporate taxation, government debt, and state/local fiscal health. Blog posts and resources are listed on audits, ESG reporting, insurance risk mitigation, crisis management, and governance models for government. Issues facing governments are also noted.
Paul Young is a CPA and expert in public sector finance. The document discusses his background and expertise. It then summarizes recent reports and issues regarding US federal budget deficits, corporate taxation, government debt, and state/local fiscal health. Blogs and resources are provided on topics like audits, ESG reporting, insurance risk mitigation, governance models, and issues facing governments.
Public Sector - United States - How to Transform Government - May 2022.pptxpaul young cpa, cga
Summary:
The United States borrowed $423 billion in the first eight months of fiscal year 2022, with a $63 billion deficit in May, according to the latest Monthly Budget Review from the Congressional Budget Office. The budget deficit has declined $1,641 billion since the same time last year, due in large part to the end of COVID spending measures and high inflation but remains similar to, but slightly lower than, 2019 levels – when the country ran a trillion-dollar deficit.
Source - https://www.crfb.org/press-releases/cbo-reports-63-billion-deficit-may
Public Sector - United States - How to Transform Government - September 2022....paul young cpa, cga
Summary:
The federal budget deficit was $1.4 trillion for this past fiscal year, the Congressional Budget Office estimated on Tuesday.
The figure clocked in at about half of the $2.8 trillion it was in fiscal year 2021, a decline driven by a pullback in pandemic relief spending and an increase in taxes thanks to the economic recovery. Revenues were about $850 billion, or 21% higher than last year, while spending was about 8% lower than last year, the nonpartisan group said in a report.
Source: https://www.washingtonexaminer.com/policy/economy/budget-deficit-trillion-2022
Public Sector - United States - How to Transform Government - June 2022.pptxpaul young cpa, cga
Summary:
Those who have been following the record surge in us public debt (excluding the roughly $100 trillion in off balance sheet obligations), which exploded by $3 trillion in the three months following the covid shutdowns and which hit an all time high $26.547 recently, will be all too aware that the us budget deficit this year and every year after will be staggering. The u.s. budget deficit has more than doubled since 2015, with spending for the 2019 fiscal year ending last september reaching $4.4 trillion versus only $3.5 trillion being brought in through. The u.s. government’s deficit in the first three months of the budget year was a record breaking $572.9 billion, 60.7% higher than the same period a year ago, as spending to deal with the covid 19 pandemic pushed outlays up while revenue declined. (all figures are in u.s. dollars.). The previous deficit record of $231.7 billion was set in february 2012. the total deficit shot past $22 trillion for the first time ever in february, or $2 trillion higher than when trump took office. The budget deficit skyrocketed 39 percent for the fiscal year compared to the same period year on year. by way of comparison, the february deficit is 46 percent larger than the government deficit.
Source - https://www.otosection.com/budget-deficit-hits-record-as-u-s-spends-100-more-than/
This document provides an agenda for discussing the world economy and what's next. It outlines several topics for discussion, including GDP growth, commodities, stock markets, geopolitical risks, unemployment rates, growth areas, COVID-19 deficit spending, debt, infrastructure, the green economy, job quality, trade, ecommerce, housing affordability, and more. For each topic, it lists relevant sources and links to additional slides and analyses on each subject. The conclusion discusses that governments should audit their crisis responses and focus on balancing the economy with other priorities, reforming taxation and organizations, and addressing issues like housing, infrastructure, and geopolitics.
Summary:
U.S. equities were lower at the close on Friday, as losses in the Consumer Services, Basic Materials and Technology sectors propelled shares lower.
At the close in NYSE, the Dow Jones Industrial Average lost 1.30% to hit a new 1-month low, while the S&P 500 index declined 1.89%, and the NASDAQ Composite index declined 2.72%
Source - https://ca.investing.com/news/stock-market-news/us-shares-lower-at-close-of-trade-dow-jones-industrial-average-down-130-2625165
1. Stock Market closing - https://www.barrons.com/articles/stock-market-today-51642761802
2. Commodity Index - https://www.fxempire.com/forecasts/article/precious-metals-defying-rising-real-yields-873954
3. Oil and GDP - https://www.woodmac.com/press-releases/the-economic-impact-of-an-accelerated-energy-transition/
4. Geopolitical - https://ca.news.yahoo.com/oil-geopolitical-risks-elevated-prices-210522544.html
5. Canadian Debt - https://www.reuters.com/article/canada-forex/canada-fx-debt-canadian-dollar-gives-back-weekly-gain-on-rising-risk-aversion-idUKL1N2U125H
6. Debt - https://www.bnnbloomberg.ca/debt-strapped-canadians-brace-for-a-risky-rate-hiking-cycle-1.1711107
7. ESG - https://sustainabilitymag.com/esg/how-your-company-esg-goals-can-help-digital-inclusion
8. FDI - https://www.investmentmonitor.ai/analysis/forgotten-capital-cities-investment-ottawa-ankara-jerusalem
9. Tech supremacy - https://asia.nikkei.com/Spotlight/DealStreetAsia/China-s-state-linked-investors-backed-30-of-top-startup-deals
10. IPO - https://www.marketwatch.com/(S(o54cffqhipqemynavg0qd455))/topics/subjects/ipo
U.S. stocks were higher after the close on Monday, as gains in the Technology, Consumer Services and Consumer Goods sectors led shares higher.
At the close in NYSE, the Dow Jones Industrial Average added 0.30%, while the S&P 500 index climbed 0.81%, and the NASDAQ Composite index gained 1.90%.
The best performers of the session on the Dow Jones Industrial Average were Salesforce.com Inc (NYSE:CRM), which rose 3.11% or 6.60 points to trade at 218.85 at the close. Meanwhile, Apple Inc (NASDAQ:AAPL) added 2.37% or 4.13 points to end at 178.44 and Intel Corporation (NASDAQ:INTC) was up 2.27% or 1.09 points to 49.20 in late trade.
Source - https://www.investing.com/news/stock-market-news/us-stocks-higher-at-close-of-trade-dow-jones-industrial-average-up-030-2797767
What is next for the Stock Market for the W/E January 7, 2022paul young cpa, cga
Stock Markets
Markets around the world remain jittery due to many factors like high inflation, increase case counts from omicron, global trade protectionism, and other geopolitical events.
The markets could see slower growth in 2022 in the range of 5-6%. Slower market growth will have an impact on pension funds and other assets holdings.
1. Stock Market - https://www.investors.com/news/economy/jobs-report-soft-hiring-but-unemployment-rate-dives-dow-jones-futures-fall/
2. Geopolitical risks - https://www.ausbiz.com.au/media/the-top-three-geopolitical-risks-for-2022?videoId=18420
3. USA build back better - https://www.economy.com/economicview/analysis/387186
4. Insurance - https://www.canadianunderwriter.ca/insurance/insurance-isnt-enough-governments-need-to-do-better-on-natural-disaster-resilience-1004216098/
5. ESG - https://www.mondaq.com/unitedstates/securities/1148324/paper-debunks-seven-myths-of-esg
6. GDP risk - https://www.bloomberg.com/news/articles/2022-01-07/india-on-track-to-post-world-beating-growth-amid-virus-risks
7. Inflation - https://www.bloomberg.com/news/newsletters/2022-01-07/what-s-happening-in-the-world-economy-the-inflation-shock-may-be-slowing
8. Climate change and viruses - https://blogs.timesofisrael.com/we-will-beat-neither-covid-nor-climate-change-on-our-own/
9. China - https://thehill.com/opinion/international/588783-the-china-tightrope-and-other-trade-developments-that-will-define-2022
10. Commodity Price Risk - https://thehill.com/opinion/international/588783-the-china-tightrope-and-other-trade-developments-that-will-define-2022
Paul Young, a CPA and CGA, presented on the state of global stock markets and economic conditions. The presentation covered stock market performance in Canada, the US, and other regions. It discussed monetary policies of central banks like the Bank of Canada. The presentation also addressed challenges like high inflation, supply chain issues, automation, and geopolitical risks affecting markets. Key topics included audit, corporate reporting, emerging technologies, ESG reporting, and economic scorecards for countries. Links were provided to additional materials on these topics.
The world continues to face many pressures including high inflation.
1. GDP Risks - https://www.icis.com/explore/resources/news/2021/11/02/10701324/labour-shortage-poses-long-term-threat-to-us-gdp-economist
2. Inflation - https://www.thestreet.com/investing/earnings-beat-during-economic-slowdown
3. Energy crisis - https://news.sky.com/story/four-more-energy-firms-collapse-taking-total-number-of-firms-failing-during-crisis-to-18-12458114
4. Energy crisis - https://www.bloomberg.com/news/articles/2021-09-27/europe-s-energy-crisis-is-about-to-go-global-as-gas-prices-soar?utm_medium=cpc_search&utm_campaign=NB_ACQ_DSAXX_DSATESTTCPAXX_EVG_XXXX_XXX_COALL_EN_EN_X_BLOM_GO_SE_XXX_XXXXXXXXXX&gclid=Cj0KCQjw5oiMBhDtARIsAJi0qk3WzP_DyOjk333Yhse63d0gXD2B3OGCDUuRAF30MROt_IoiwBR-LqgaAlYWEALw_wcB&gclsrc=aw.ds
5. Food https://atlantic.ctvnews.ca/dairy-prices-expected-to-jump-in-the-new-year-1.5649789
6. Food https://www.aginfo.net/report/51186/The-Agribusiness-Update/Ag-Tech-Theft-Rises-and-Food-Prices-Continue-Upward-Trend
7. Global poverty - https://www.therecord.com/opinion/letters-to-the-editors/2021/11/02/global-poverty-has-risen-what-will-new-minister-do.html
8. Food - https://fortune.com/2021/11/01/elon-musk-net-worth-tesla-shares-hunger-tweet-world-food-program/
9. Household debt - https://www.fitchratings.com/research/banks/pandemic-induced-stimulus-spurs-higher-household-leverage-in-apac-markets-02-11-2021
10. Household savings - https://www.mpamag.com/ca/news/general/rbc-on-canadian-households-record-pandemic-savings/315231
1. Global Inflation - https://www.vox.com/2021/11/24/22799217/global-inflation-us-eu-germany-uk or Inflation has risen around the world, but the U.S. has seen one of the biggest increases - https://www.pewresearch.org/fact-tank/2021/11/24/inflation-has-risen-around-the-world-but-the-u-s-has-seen-one-of-the-biggest-increases/
2. GDP risk - https://www.globaldata.com/globaldata-revises-china-gdp-growth-back-sluggish-real-estate-activity-coal-shortages/
3. New variants - https://www.bbc.com/news/world-59442129
4. Housing - https://blackburnnews.com/windsor/windsor-news/2021/11/26/ontario-invites-mayors-housing-summit/
5. Stock Market - https://finance.yahoo.com/news/stock-market-news-live-updates-november-26-2021-125443465.html
6. ESG - https://sustainablebiz.ca/newsletter/sustainable-biz-canada-november-26-2021/
7. Geopolitical Risks - https://www.geopoliticalmonitor.com/section/situation-reports/
8. Debt - https://www.almendron.com/tribuna/is-sovereign-debt-impeding-africas-covid-19-recovery/
9. Circular economy - https://www.engineeringnews.co.za/article/csirs-initial-circular-economy-study-shows-potential-to-create-economy-wide-value-2021-11-26
10. Automation - https://www.helpnetsecurity.com/2021/11/26/investments-automation/
Household Spending, Savings and Income (Income Inequality .pptxpaul young cpa, cga
Here is my latest look at household consumption, taxation, and income.
Justin Trudeau is continuing on his social spending plan. The problem is there was a structural deficit pre-covid19.
How can Bank of Canada achieve its 2% Inflation target for Canadapaul young cpa, cga
The document discusses various issues facing the Canadian economy, including high inflation, housing unaffordability, lack of productivity and innovation. It argues that Justin Trudeau's policies have not adequately addressed long-standing structural problems and that all levels of government need reforms to taxation, spending, innovation programs, and housing policy to boost the economy. The Bank of Canada is keeping interest rates low due to high inflation and uncertainty around achieving full employment. Foreign investment is inflating home prices while productivity and competitiveness have lagged.
The role of government is to provide support programs as part of transitioning people into new careers. This presentation looks at CERB and EI programs.
Canada - Fiscal Management - Deficit and Debt - January 2022.pptxpaul young cpa, cga
This document provides a biography and contact information for Paul Young, a CPA and expert in various areas of fiscal management and policy. It then outlines an agenda for a presentation covering several topics related to fiscal management in Canada, including updates on the federal deficit and GDP growth, pandemic response measures, credit downgrades, the size of government, job markets, cost of living, and the importance of audits. Key sources are provided for each topic. The presentation aims to analyze fiscal policy and management for the federal government as well as provinces.
Retail Sales and Consumer Spending Analysis and Commentary - July 2023.pptxpaul young cpa, cga
Canadian retail sales dropped 0.3% in August, the first decline since March, as higher interest rates start to impact household budgets. Seven of the nine retail subsectors saw sales increases in July, led by food and beverage retailers, while motor vehicle and parts dealers saw the largest decrease. Excluding autos, retail sales in July rose 1%, double expectations. The report suggests Canadians are tightening spending as more face higher mortgage payments and gas prices due to Bank of Canada rate hikes aimed at slowing inflation.
Addressing issues with the Public Sector Governance Model.pptxpaul young cpa, cga
The key challenges facing Australian business leaders in 2023 include:
1. Talent acquisition, retention and training staff for digital transformation.
2. Implementing successful digital transformation while managing cyber risks.
3. Adapting to changing regulations and reporting requirements.
Health risks from COVID-19, social reputation concerns, and disruptive emerging technologies are also significant social challenges impacting Australian businesses. Over the next 3-5 years, talent management for digitization, cybersecurity, digital transformation, regulatory changes, and identifying new growth opportunities will be the top challenges according to business leaders.
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Public Sector - United States - How to Transform Government - April 2022.pptxpaul young cpa, cga
Paul Young provides an overview of key issues facing the public sector in the United States. He discusses a CBO report that finds the federal budget deficit is improving but long-term fiscal challenges remain. Corporate tax changes and a global minimum tax rate are addressed. High levels of federal, state, and local government debt are also discussed. The document outlines Paul's expertise and provides links to further information on topics like audits, ESG reporting, risk management, and governance challenges across different levels of government.
Public Sector - United States - How to Transform Government - April 2023.pptxpaul young cpa, cga
Blog – Transforming the Public Sector for the United States – April 2023
Summary:
All levels of government continue to struggle with how best to manage scarce tax dollars while delivering program spending with value for money.
Additional sources:
Government continues to look at ways to move their operational model to a digital model - https://www.microsoft.com/en-us/industry/blog/government/2023/04/06/microsoft-for-government-leverage-data-and-ai-to-deliver-personalized-experiences/
Infrastructure spending - https://www.city-journal.org/article/the-more-some-states-spend-the-worse-things-seem-to-get
Pensions - https://crr.bc.edu/briefs-state-local-pensions/the-sustainability-of-state-local-pensions-a-public-finance-approach/
Fiscal challenges for state and local governments - https://www.canr.msu.edu/news/challenges-facing-michigan-local-governments
Fastest growing states - https://a-z-animals.com/blog/discover-the-fastest-growing-states/
Housing - https://www.axios.com/2023/04/12/affordable-housing-crisis-zoning
Crime - https://www.fatherly.com/news/safest-least-safe-counties-in-america-map-story
Cybersecurity threats - https://www.splunk.com/en_us/blog/industries/insights-from-public-sector-leaders-understanding-the-state-of-security-and-lessons-learned.html
Data and AI as part of strengthening emergency preparedness - https://ts2.space/en/the-role-of-ai-in-emergency-management-and-response/
Public sector and technology trends - https://blog.gitnux.com/local-government-technology-trends/
ESG and Sustainability Reporting - https://www.corporatecomplianceinsights.com/sp50-esg-analysis/
Transforming the Public Sector| The United States| November 2021paul young cpa, cga
In fiscal year 2021, which ended on September 30, the federal budget deficit totaled nearly $2.8 trillion—about $360 billion less than the deficit in 2020, but nearly triple the shortfall incurred in 2019. During the past two years, deficits were much larger than they have been historically because of the economic effects of the coronavirus pandemic and legislation enacted in response.1
In 2021, the deficit was equal to 12.4 percent of the nation’s gross domestic product (GDP), down from 15.0 percent in 2020, but up from 4.7 percent in 2019. The 2021 deficit was the second largest as a percentage of GDP since 1945 (the largest occurred in 2020).
1. Deficit - https://www.reuters.com/world/us/us-budget-gap-narrows-more-than-expected-year-earlier-october-2021-11-10/
2. Taxation https://taxfoundation.org/2022-tax-brackets/
3. Healthcare - https://www.americanactionforum.org/research/key-health-policy-provisions-of-the-build-back-better-act/
4. Infrastructure - https://www.piquenewsmagazine.com/national-business/us-infrastructure-bill-means-more-cash-and-contracts-for-wsp-global-ceo-says-4743343
5. Taxation at state and local government level - https://www.prnewswire.com/news-releases/ey-cost-study-state-and-local-government-tax-revenue-increases-despite-pandemic-301421351.html
6. Federal reserve - https://www.smh.com.au/business/banking-and-finance/us-inflation-hits-new-record-forcing-the-fed-to-rethink-its-strategy-20211111-p5981q.html
7. Climate change - https://www.ft.com/content/da0ac736-7c38-4f93-baaf-e315a51faf22
8. Housing - https://www.cnbc.com/2021/11/10/home-prices-are-now-rising-much-faster-than-incomes-studies-show.html
9. Corporate tax - https://dividedwefall.com/2021/11/05/global-minimum-corporate-tax/
10. Productivity - https://www.reuters.com/article/usa-economy-productivity-idCAKBN2HP1O6
11. Regulations - https://news.yahoo.com/regulatory-reformers-red-tape-formidable-184826530.html
12. ESG - https://www.pwc.com/gx/en/services/sustainability/publications/cop26/how-much-does-the-public-care-about-esg-pwc-cop26.html or https://ibm.box.com/s/vmyitcackqevvm1hcxv7wke6gudrpnce
13. Energy crisis - https://www.rigzone.com/news/wire/usa_should_have_enough_gas_to_avert_energy_crisis-09-nov-2021-166955-article/
14. Carbon tax - https://www.delawareonline.com/story/opinion/2021/11/05/u-s-must-enact-carbon-tax-its-essential-curb-climate-change/6280393001/
15. Pensions - https://www.pewtrusts.org/en/research-and-analysis/issue-briefs/2021/09/the-state-pension-funding-gap-plans-have-stabilized-in-wake-of-pandemic
16. Unfunded liabilities - https://www.lagrangenews.com/2021/10/16/brown-column-we-must-address-the-national-debt/
17. Policing - https://www.upworthy.com/americas-most-dangerous-city-defunded-its-police-department-7-years-ago-it-was-a-stunning-success or https://www.moneygeek.com/living/state-policing-corrections-spending/
Transforming the Public Sector| The United States| November 2021paul young cpa, cga
This document provides a biography and contact information for Paul Young, a CPA and expert in various areas related to public sector finance. It then outlines an agenda covering topics like a CBO report on the US budget, corporate taxation, government debt, and state/local fiscal health. Blog posts and resources are listed on audits, ESG reporting, insurance risk mitigation, crisis management, and governance models for government. Issues facing governments are also noted.
Paul Young is a CPA and expert in public sector finance. The document discusses his background and expertise. It then summarizes recent reports and issues regarding US federal budget deficits, corporate taxation, government debt, and state/local fiscal health. Blogs and resources are provided on topics like audits, ESG reporting, insurance risk mitigation, governance models, and issues facing governments.
Public Sector - United States - How to Transform Government - May 2022.pptxpaul young cpa, cga
Summary:
The United States borrowed $423 billion in the first eight months of fiscal year 2022, with a $63 billion deficit in May, according to the latest Monthly Budget Review from the Congressional Budget Office. The budget deficit has declined $1,641 billion since the same time last year, due in large part to the end of COVID spending measures and high inflation but remains similar to, but slightly lower than, 2019 levels – when the country ran a trillion-dollar deficit.
Source - https://www.crfb.org/press-releases/cbo-reports-63-billion-deficit-may
Public Sector - United States - How to Transform Government - September 2022....paul young cpa, cga
Summary:
The federal budget deficit was $1.4 trillion for this past fiscal year, the Congressional Budget Office estimated on Tuesday.
The figure clocked in at about half of the $2.8 trillion it was in fiscal year 2021, a decline driven by a pullback in pandemic relief spending and an increase in taxes thanks to the economic recovery. Revenues were about $850 billion, or 21% higher than last year, while spending was about 8% lower than last year, the nonpartisan group said in a report.
Source: https://www.washingtonexaminer.com/policy/economy/budget-deficit-trillion-2022
Public Sector - United States - How to Transform Government - June 2022.pptxpaul young cpa, cga
Summary:
Those who have been following the record surge in us public debt (excluding the roughly $100 trillion in off balance sheet obligations), which exploded by $3 trillion in the three months following the covid shutdowns and which hit an all time high $26.547 recently, will be all too aware that the us budget deficit this year and every year after will be staggering. The u.s. budget deficit has more than doubled since 2015, with spending for the 2019 fiscal year ending last september reaching $4.4 trillion versus only $3.5 trillion being brought in through. The u.s. government’s deficit in the first three months of the budget year was a record breaking $572.9 billion, 60.7% higher than the same period a year ago, as spending to deal with the covid 19 pandemic pushed outlays up while revenue declined. (all figures are in u.s. dollars.). The previous deficit record of $231.7 billion was set in february 2012. the total deficit shot past $22 trillion for the first time ever in february, or $2 trillion higher than when trump took office. The budget deficit skyrocketed 39 percent for the fiscal year compared to the same period year on year. by way of comparison, the february deficit is 46 percent larger than the government deficit.
Source - https://www.otosection.com/budget-deficit-hits-record-as-u-s-spends-100-more-than/
This document provides an agenda for discussing the world economy and what's next. It outlines several topics for discussion, including GDP growth, commodities, stock markets, geopolitical risks, unemployment rates, growth areas, COVID-19 deficit spending, debt, infrastructure, the green economy, job quality, trade, ecommerce, housing affordability, and more. For each topic, it lists relevant sources and links to additional slides and analyses on each subject. The conclusion discusses that governments should audit their crisis responses and focus on balancing the economy with other priorities, reforming taxation and organizations, and addressing issues like housing, infrastructure, and geopolitics.
Summary:
U.S. equities were lower at the close on Friday, as losses in the Consumer Services, Basic Materials and Technology sectors propelled shares lower.
At the close in NYSE, the Dow Jones Industrial Average lost 1.30% to hit a new 1-month low, while the S&P 500 index declined 1.89%, and the NASDAQ Composite index declined 2.72%
Source - https://ca.investing.com/news/stock-market-news/us-shares-lower-at-close-of-trade-dow-jones-industrial-average-down-130-2625165
1. Stock Market closing - https://www.barrons.com/articles/stock-market-today-51642761802
2. Commodity Index - https://www.fxempire.com/forecasts/article/precious-metals-defying-rising-real-yields-873954
3. Oil and GDP - https://www.woodmac.com/press-releases/the-economic-impact-of-an-accelerated-energy-transition/
4. Geopolitical - https://ca.news.yahoo.com/oil-geopolitical-risks-elevated-prices-210522544.html
5. Canadian Debt - https://www.reuters.com/article/canada-forex/canada-fx-debt-canadian-dollar-gives-back-weekly-gain-on-rising-risk-aversion-idUKL1N2U125H
6. Debt - https://www.bnnbloomberg.ca/debt-strapped-canadians-brace-for-a-risky-rate-hiking-cycle-1.1711107
7. ESG - https://sustainabilitymag.com/esg/how-your-company-esg-goals-can-help-digital-inclusion
8. FDI - https://www.investmentmonitor.ai/analysis/forgotten-capital-cities-investment-ottawa-ankara-jerusalem
9. Tech supremacy - https://asia.nikkei.com/Spotlight/DealStreetAsia/China-s-state-linked-investors-backed-30-of-top-startup-deals
10. IPO - https://www.marketwatch.com/(S(o54cffqhipqemynavg0qd455))/topics/subjects/ipo
U.S. stocks were higher after the close on Monday, as gains in the Technology, Consumer Services and Consumer Goods sectors led shares higher.
At the close in NYSE, the Dow Jones Industrial Average added 0.30%, while the S&P 500 index climbed 0.81%, and the NASDAQ Composite index gained 1.90%.
The best performers of the session on the Dow Jones Industrial Average were Salesforce.com Inc (NYSE:CRM), which rose 3.11% or 6.60 points to trade at 218.85 at the close. Meanwhile, Apple Inc (NASDAQ:AAPL) added 2.37% or 4.13 points to end at 178.44 and Intel Corporation (NASDAQ:INTC) was up 2.27% or 1.09 points to 49.20 in late trade.
Source - https://www.investing.com/news/stock-market-news/us-stocks-higher-at-close-of-trade-dow-jones-industrial-average-up-030-2797767
What is next for the Stock Market for the W/E January 7, 2022paul young cpa, cga
Stock Markets
Markets around the world remain jittery due to many factors like high inflation, increase case counts from omicron, global trade protectionism, and other geopolitical events.
The markets could see slower growth in 2022 in the range of 5-6%. Slower market growth will have an impact on pension funds and other assets holdings.
1. Stock Market - https://www.investors.com/news/economy/jobs-report-soft-hiring-but-unemployment-rate-dives-dow-jones-futures-fall/
2. Geopolitical risks - https://www.ausbiz.com.au/media/the-top-three-geopolitical-risks-for-2022?videoId=18420
3. USA build back better - https://www.economy.com/economicview/analysis/387186
4. Insurance - https://www.canadianunderwriter.ca/insurance/insurance-isnt-enough-governments-need-to-do-better-on-natural-disaster-resilience-1004216098/
5. ESG - https://www.mondaq.com/unitedstates/securities/1148324/paper-debunks-seven-myths-of-esg
6. GDP risk - https://www.bloomberg.com/news/articles/2022-01-07/india-on-track-to-post-world-beating-growth-amid-virus-risks
7. Inflation - https://www.bloomberg.com/news/newsletters/2022-01-07/what-s-happening-in-the-world-economy-the-inflation-shock-may-be-slowing
8. Climate change and viruses - https://blogs.timesofisrael.com/we-will-beat-neither-covid-nor-climate-change-on-our-own/
9. China - https://thehill.com/opinion/international/588783-the-china-tightrope-and-other-trade-developments-that-will-define-2022
10. Commodity Price Risk - https://thehill.com/opinion/international/588783-the-china-tightrope-and-other-trade-developments-that-will-define-2022
Paul Young, a CPA and CGA, presented on the state of global stock markets and economic conditions. The presentation covered stock market performance in Canada, the US, and other regions. It discussed monetary policies of central banks like the Bank of Canada. The presentation also addressed challenges like high inflation, supply chain issues, automation, and geopolitical risks affecting markets. Key topics included audit, corporate reporting, emerging technologies, ESG reporting, and economic scorecards for countries. Links were provided to additional materials on these topics.
The world continues to face many pressures including high inflation.
1. GDP Risks - https://www.icis.com/explore/resources/news/2021/11/02/10701324/labour-shortage-poses-long-term-threat-to-us-gdp-economist
2. Inflation - https://www.thestreet.com/investing/earnings-beat-during-economic-slowdown
3. Energy crisis - https://news.sky.com/story/four-more-energy-firms-collapse-taking-total-number-of-firms-failing-during-crisis-to-18-12458114
4. Energy crisis - https://www.bloomberg.com/news/articles/2021-09-27/europe-s-energy-crisis-is-about-to-go-global-as-gas-prices-soar?utm_medium=cpc_search&utm_campaign=NB_ACQ_DSAXX_DSATESTTCPAXX_EVG_XXXX_XXX_COALL_EN_EN_X_BLOM_GO_SE_XXX_XXXXXXXXXX&gclid=Cj0KCQjw5oiMBhDtARIsAJi0qk3WzP_DyOjk333Yhse63d0gXD2B3OGCDUuRAF30MROt_IoiwBR-LqgaAlYWEALw_wcB&gclsrc=aw.ds
5. Food https://atlantic.ctvnews.ca/dairy-prices-expected-to-jump-in-the-new-year-1.5649789
6. Food https://www.aginfo.net/report/51186/The-Agribusiness-Update/Ag-Tech-Theft-Rises-and-Food-Prices-Continue-Upward-Trend
7. Global poverty - https://www.therecord.com/opinion/letters-to-the-editors/2021/11/02/global-poverty-has-risen-what-will-new-minister-do.html
8. Food - https://fortune.com/2021/11/01/elon-musk-net-worth-tesla-shares-hunger-tweet-world-food-program/
9. Household debt - https://www.fitchratings.com/research/banks/pandemic-induced-stimulus-spurs-higher-household-leverage-in-apac-markets-02-11-2021
10. Household savings - https://www.mpamag.com/ca/news/general/rbc-on-canadian-households-record-pandemic-savings/315231
1. Global Inflation - https://www.vox.com/2021/11/24/22799217/global-inflation-us-eu-germany-uk or Inflation has risen around the world, but the U.S. has seen one of the biggest increases - https://www.pewresearch.org/fact-tank/2021/11/24/inflation-has-risen-around-the-world-but-the-u-s-has-seen-one-of-the-biggest-increases/
2. GDP risk - https://www.globaldata.com/globaldata-revises-china-gdp-growth-back-sluggish-real-estate-activity-coal-shortages/
3. New variants - https://www.bbc.com/news/world-59442129
4. Housing - https://blackburnnews.com/windsor/windsor-news/2021/11/26/ontario-invites-mayors-housing-summit/
5. Stock Market - https://finance.yahoo.com/news/stock-market-news-live-updates-november-26-2021-125443465.html
6. ESG - https://sustainablebiz.ca/newsletter/sustainable-biz-canada-november-26-2021/
7. Geopolitical Risks - https://www.geopoliticalmonitor.com/section/situation-reports/
8. Debt - https://www.almendron.com/tribuna/is-sovereign-debt-impeding-africas-covid-19-recovery/
9. Circular economy - https://www.engineeringnews.co.za/article/csirs-initial-circular-economy-study-shows-potential-to-create-economy-wide-value-2021-11-26
10. Automation - https://www.helpnetsecurity.com/2021/11/26/investments-automation/
Household Spending, Savings and Income (Income Inequality .pptxpaul young cpa, cga
Here is my latest look at household consumption, taxation, and income.
Justin Trudeau is continuing on his social spending plan. The problem is there was a structural deficit pre-covid19.
How can Bank of Canada achieve its 2% Inflation target for Canadapaul young cpa, cga
The document discusses various issues facing the Canadian economy, including high inflation, housing unaffordability, lack of productivity and innovation. It argues that Justin Trudeau's policies have not adequately addressed long-standing structural problems and that all levels of government need reforms to taxation, spending, innovation programs, and housing policy to boost the economy. The Bank of Canada is keeping interest rates low due to high inflation and uncertainty around achieving full employment. Foreign investment is inflating home prices while productivity and competitiveness have lagged.
The role of government is to provide support programs as part of transitioning people into new careers. This presentation looks at CERB and EI programs.
Canada - Fiscal Management - Deficit and Debt - January 2022.pptxpaul young cpa, cga
This document provides a biography and contact information for Paul Young, a CPA and expert in various areas of fiscal management and policy. It then outlines an agenda for a presentation covering several topics related to fiscal management in Canada, including updates on the federal deficit and GDP growth, pandemic response measures, credit downgrades, the size of government, job markets, cost of living, and the importance of audits. Key sources are provided for each topic. The presentation aims to analyze fiscal policy and management for the federal government as well as provinces.
Similar to Public Sector - United States - How to Transform Government - June 2023.pptx (20)
Retail Sales and Consumer Spending Analysis and Commentary - July 2023.pptxpaul young cpa, cga
Canadian retail sales dropped 0.3% in August, the first decline since March, as higher interest rates start to impact household budgets. Seven of the nine retail subsectors saw sales increases in July, led by food and beverage retailers, while motor vehicle and parts dealers saw the largest decrease. Excluding autos, retail sales in July rose 1%, double expectations. The report suggests Canadians are tightening spending as more face higher mortgage payments and gas prices due to Bank of Canada rate hikes aimed at slowing inflation.
Addressing issues with the Public Sector Governance Model.pptxpaul young cpa, cga
The key challenges facing Australian business leaders in 2023 include:
1. Talent acquisition, retention and training staff for digital transformation.
2. Implementing successful digital transformation while managing cyber risks.
3. Adapting to changing regulations and reporting requirements.
Health risks from COVID-19, social reputation concerns, and disruptive emerging technologies are also significant social challenges impacting Australian businesses. Over the next 3-5 years, talent management for digitization, cybersecurity, digital transformation, regulatory changes, and identifying new growth opportunities will be the top challenges according to business leaders.
Global Housing Market Analysis and Commentary- September 2023.pptxpaul young cpa, cga
Summary:
Homebuilders are walking a fine line when it comes to new projects as high mortgage rates curb demand.
New residential construction, including single-family homes and multifamily, dropped 11.3% month over month in August to 1.283 million units on a seasonally adjusted basis, according to Census Bureau data released Tuesday. That's down 14.8% compared with a year ago and well below the 1.44 million units economists surveyed by Bloomberg projected.
But authorized residential permits — an indicator of potential future activity — rose 6.9% to 1.543 million permits in August from July. That was still down 2.7% from last August. Single-family permits, though, were up 2% from July to 949,000. Multifamily permits came in at 535,000.
The data reflects two opposing forces builders are trying to balance: the ongoing need for new construction to fill in limited inventory and elevated mortgage rates that are hurting their biggest customer right now, the first-time homebuyer.
"High mortgage rates are clearly taking a toll on builder confidence and consumer demand, as a growing number of buyers are electing to defer a home purchase until long-term rates move lower," Robert Dietz, chief economist of the National Association of Home Builders, said Monday in a press release after builder confidence dropped for the second straight month.
Source: https://ca.finance.yahoo.com/news/homebuilders-face-a-tough-balancing-act-on-new-construction-amid-high-mortgage-rates-130744368.html
Blog – What is next for the Mining Sector – September 2023
The mining sector provides critical material that support solar, wind, and lithium-ion batteries as part of the green transition. https://www.iea.org/news/critical-minerals-market-sees-unprecedented-growth-as-clean-energy-demand-drives-strong-increase-in-investment
The mining sector products play a key role with the global GDP - https://www.yicaiglobal.com/news/global-mining-industry-value-was-69-of-world-gdp-last-year-china-says
Mining practices need to be sustainable including following all ESG policies - https://www.linkedin.com/advice/1/how-can-you-monitor-sustainable-mining-practices
Other links and sources –
Lithium Supply and Price - https://zbr.com.mx/en/sin-categoria-es/lithium-prices-fall-44-in-china-due-to-lack-of-demand/138168/
Cobalt - https://www.linkedin.com/posts/mahmut-karada%C5%9F-a2b7a5151_china-exportrestrictions-gallium-activity-7082603182589157376-Zrty/?trk=public_profile_like_view
Nickel https://www.eureporter.co/business/2023/09/15/stanislav-kondrashov-from-telf-ag-nickel-prices-outlook-remains-positive/
Iron-ore - https://www.brecorder.com/news/40263584/sgx-iron-ore-set-for-best-week-in-3-months
TD Bank / Metals - https://www.tdsecurities.com/ca/en/setting-the-stage-for-gold-outlook
Biodiversity / Mining - https://worldcrunch.com/green/lithium-green-energy-argentina-indigenous
ESG - https://iriscarbon.com/the-added-value-of-integrated-esg-reporting-a-threefold-framework/
Blog – Manufacturing Shipments and Orders – The United States – August 2023
Summary:
New orders for manufacturing technology in the United States totaled $353.9 million in July 2023, as per the latest report by AMT – The Association For Manufacturing Technology. This figure marked a 12.4% decline from June 2023 but remained only 10.5% lower than July 2022. Year-to-date orders amounted to $2.83 billion, reflecting a 12.7% decrease compared to the same period the previous year.
Douglas K. Woods, President of AMT, noted that July is typically a slower month for manufacturing technology orders, so a slight drop was expected. However, he pointed out a notable trend: over the last two months, the year-to-date order gap has narrowed during historically slow periods. While job shops have seen decreased orders, other industries that benefited from reshoring or government investments have helped fill the gap.
Among specific sectors, job shops, the largest customer segment, placed their lowest total monthly orders since August 2020. In contrast, metal valve manufacturers recorded their third-highest monthly order value on record, last seen in September 2018, making up nearly 5% of the total manufacturing technology order value for July 2023. Manufacturers of motor vehicle transmissions continued to order machinery at an elevated pace. However, the aerospace industry continued to order below its early 2022 peaks, with hopes that recent projects like the federal government's $1.5 billion investment in communications satellites might reverse this trend.
Source: https://www.sme.org/technologies/articles/2023/september/u.s.-manufacturing-technology-orders-dip-in-july-but-show-resilience-amid-economic-uncertainty
Stock Market Analysis and Commentary for WE September 15 2023.pptxpaul young cpa, cga
Blog – Analysis and Commentary – Stock Market – WE September 15 2023
Summary:
Stocks fell Friday as investors wrap up a volatile week ahead of the Federal Reserve's policy meeting.
The Dow Jones Industrials tumbled 288.87 points to close out Friday and the week at 34,618.24. At its lows, it completely wiped out Thursday's 332-point rally.
The S&P 500 index sank 54.78 points, or 1.2%, to 4,450.32.
The NASDAQ index plunged 217.72 points, or 1.6%, to 13,708.33.
The Dow held onto a winning week. The S&P 500 and NASDAQ both closed out the week with losses.
Information technology was the worst-performing sector in the S&P 500, down nearly 2%. Adobe shares fell more than 4% even after the software firm posted better-than-expected quarterly results. Shares of Arm Holdings were lower one day after its successful public debut.
Auto stocks General Motors and Stellantis N.V. were higher Friday, while Ford Motor was about flat. Thousands of members of the United Auto Workers went on strike after failing to reach a deal with the automakers Thursday night.
Elsewhere, Lennar shares slid 3%. The home construction firm posted third-quarter results that beat on the top and bottom lines.
On the economic front, the University of Michigan's consumer sentiment survey showed one-year inflation expectations dropped to 3.1% in
September, tied for the lowest since January 2021. Also, the five-year outlook fell to 2.7%, matching its lowest since December 2020.
- Canadian manufacturing sales increased 1.6% in July, led by higher sales in food products, petroleum and coal products, and transportation equipment. Paper and plastics sales decreased the most.
- Inventory levels increased slightly while unfilled orders decreased, pointing to a potential slowdown.
- The manufacturing sector in Canada will continue to face challenges such as global economic uncertainty, rising costs, supply chain issues, climate change risks, and skills shortages.
Electricity Analysis - Canada and the OECD - June 2023.pptxpaul young cpa, cga
Summary:
Over three-quarters of the world’s total coal-generated electricity is consumed in just three countries. China is the top user of coal, making up 53.3% of global coal demand, followed by India at 13.6%, and the U.S. at 8.9%.
Burning coal—for electricity, as well as metallurgy and cement production—is the world’s single largest source of CO2 emissions. Nevertheless, its use in electricity generation has actually grown 91.2% since 1997, the year when the first global climate agreement was signed in Kyoto, Japan.
However, even as non-renewables enjoy their time in the sun, their days could be numbered.
In 2022, renewables, such as wind, solar, and geothermal, represented 14.4% of total electricity generation with an extraordinary annual growth rate of 14.7%, driven by big gains in solar and wind. Non-renewables, by contrast, only managed an anemic 0.4%.
The authors of the Statistical Review do not include hydroelectric in their renewable calculations, even though many others, including the International Energy Agency, consider it a “well-established renewable power technology.”
With hydroelectric moved into the renewable column, together they accounted for over 29.3% of all electricity generated in 2022, with an annual growth rate of 7.4%.
Source - https://energynow.ca/2023/09/infographic-what-electricity-sources-power-the-world-see-them-here-visual-capitalist/
Logistics Warehousing Transportation and Distrbution Analysis and Commentary ...paul young cpa, cga
The document provides an overview of key metrics and trends in the logistics, warehousing, distribution, and transportation sector. It includes data on consumer price index, diesel fuel costs, freight indexes, e-commerce sales, retail sales, class 8 truck sales, EPA emissions standards, trailer sales, and tonnage. It also discusses supply chain management solutions like planning analytics, blockchain, and AI assistants. Finally, it touches on topics like infrastructure spending, automation, and ESG reporting.
Retail Sales and Consumer Spending Analysis and Commentary - United States - ...paul young cpa, cga
United States retail sales rose 0.6% in August despite flat sales at internet retailers after Amazon Prime Day. Most of the increase was due to higher gasoline prices. While consumer spending has been strong, higher interest rates and a slowdown in hiring are expected to restrain purchases in the coming months. Forecasters predict the 2023 holiday shopping season could be the weakest in five years due to economic challenges facing consumers. The retail sector continues facing inventory management challenges and social governance issues.
How to improve the Governance Model for the Public Sector - United States - S...paul young cpa, cga
This document provides a summary of strategies to improve governance in government. It discusses factors that impact governance like transparency and accountability. It recommends using performance audits to assess key performance indicators and ensure recommendations are implemented. Other strategies include improving data ethics and literacy, mitigating geopolitical risks, adopting ESG reporting, and using technology like audit analytics and AI to enhance governance. The overall goal is for government to deliver programs and tax policies with value for money and transparency.
This document provides an analysis of the agriculture output and equipment sector for August 2023. It includes discussions of commodity prices, crop estimates, energy prices, food prices, farming incomes, top farming states, food processors, and the role of technology and government in farming. Key points covered include rising input costs challenging farmers, preliminary crop estimates for Canada, volatility in oil and diesel prices impacting farm expenses, and opportunities for data and automation to help address issues in the agriculture industry.
Biotech Pharmaceutical Medical Equipment and Supplies - Analysis - September ...paul young cpa, cga
This document provides an overview and agenda for a presentation on the biotech, pharmaceutical, and healthcare sector. It includes:
- An introduction and biography of presenter Paul Young CPA CGA
- An agenda covering topics like vaccine production, drug discovery, innovation in areas like storage and AI, and the life sciences strategy
- Links and summaries of information on these topics, including the top vaccine manufacturers, regulations in Canada, and growth in the pharmaceutical market
The presentation aims to discuss key areas of the biotech/pharmaceutical sector including vaccine development and production, drug discovery, innovation, and strategies for the life sciences industry. Links and outside sources are provided to support the topics in the agenda.
Better Public Safety Management using Analytics - September 2023.pptxpaul young cpa, cga
This document discusses using analytics to improve public safety management. It outlines rising public safety costs for governments and key issues facing policing like complex crimes and accountability. The document presents crime rate data for Canada and discusses building machine learning models in SPSS and dashboards in Cognos Analytics to analyze police data and forecast expenses. Finally, it lists potential next steps for crime in Canada like bail and corrections reforms, gun control, and increased police oversight.
Stock Market Analysis and Commentary for WE September 9 2023.pptxpaul young cpa, cga
What did the markets tell us this week?
1. Housing supply and costs continue to plague countries around the world.
2. Gasoline prices are on the rise that puts pressure on central banks ability to hit their core inflation targets.
3. ESG adoption by both the private and public sector is leading to both funding concerns and the overall cost of implementing ESG policies.
4. Adopting technology as part of increasing food production is facing both capital and operational funding concerns.
5. Strike at LNG facility in Australia is leading to concerns around a supply chain disruption of natural gas for EMEA and Asia.
6. The threat of China dumping batteries into markets - https://www.ft.com/content/b6038e51-7b5b-4f97-a5da-9202e71562fc
7. Adoption of generative AI has been facing many challenges related to security, privacy, and ethical issues.
8. Lack of biodiversity planning as part of the overall climate mitigation including sustainable mining, forestry, oil, gas, agriculture, and housing
9. Geopolitical issues continue to impact supply chain.
10. The concerns of recession continue to plague both the private and public sector.
11. Productivity issues continue to plague governments around the world.
Workforce Planning and Employment Analysis - August 2023.pptxpaul young cpa, cga
The document discusses workforce planning and employment analysis. It provides an overview of employment statistics in the United States, Canada, and Australia. It then discusses Sysco's workforce planning model and the role of the CFO in workforce planning. Finally, it defines autonomous finance as the automation of financial operations through software and algorithms, and provides some key statistics on its adoption.
Global Automotive - Analysis and Commentary - August 2023.pptxpaul young cpa, cga
This presentation provides an overview of key trends in the global automotive sector in August 2023. It discusses 1) sales trends in Canada, the US and globally, 2) the growth of electric vehicles and focus on reducing emissions, and 3) ongoing transformation in the industry through automation, connectivity and new technologies. Sources included discuss topics like electric vehicle production and adoption, public safety issues regarding EV fires, gasoline and car prices, supply chain challenges, and green transitions in transportation.
Global (Mining Oil and Gas Forestry and Agriculture) Analysis and Commentary ...paul young cpa, cga
The mining, oil, gas, agriculture, forestry, and mining continue to face environmental, social, and governance policy review including reporting of key metrics as part of ESG reporting cycle.
There is more focus on profitability and investment returns as part of the integrated planning and reporting cycle.
Summary:
The global economy faces what at least one forecaster is calling a mild trade recession as shipments from China slump and German factories downshift.
China’s export declines extended into August, though there were signs that the worst of a world trade slowdown may be over for the leading exporter.
Overseas shipments from China fell 8.8% in dollar terms from a year earlier while imports contracted 7.3%, both better than economists’ estimates and significantly less severe than July’s downturn.
Other data have suggested trade may be stabilizing after weakening for most of this year. Exports from South Korea also declined at a more moderate pace in August than the previous month.
Source: https://www.bloomberg.com/news/newsletters/2023-09-07/supply-chain-latest-world-trade-faces-a-shallow-recession?srnd=economics-v2
Additional sources and links:
Lithium - https://source.benchmarkminerals.com/article/falling-lithium-prices-challenge-potential-cost-advantages-of-sodium-batteries
Oil Production - https://www.cnn.com/2023/09/06/business/oil-price-goldman-sachs/index.html
Natural gas - https://www.fxstreet.com/news/natural-gas-holds-up-as-markets-in-limbo-over-strikes-202309070956
Lumber - https://www.fastmarkets.com/insights/sawmill-capacity-closures-reshape-us-lumber-supply
Critical metals - https://www.wasterecyclingmag.ca/feature/how-recycling-could-solve-the-shortage-of-minerals-essential-to-clean-energy/
Agriculture - https://www.morningagclips.com/economists-forecast-positive-end-of-year-crop-outlook-despite-warmer-midwestern-climate/
ESG - https://www.skadden.com/insights/publications/2023/09/the-informed-board/the-eus-new-esg-disclosure-rules
Ports - https://www.marketscreener.com/quote/stock/HAPAG-LLOYD-AG-24857717/news/Hapag-Lloyd-chief-warns-of-rougher-seas-ahead-for-container-shipping-44789017/
Top destination for reshoring - https://www.thenationalnews.com/business/economy/2023/08/29/uae-in-top-10-most-powerful-passports-for-investment-opportunity/
Global Trade - https://phys.org/news/2023-09-opinion-broke-global-climate-finish.html
What is next for the Forestry Sector and Lumber Production - September 2023.pptxpaul young cpa, cga
Lumber production in Canada continues to face many hurdles
Canada forest management practices are some of the bests in the world
Canada planted over 440M in seedlings back in 2018. It is now 2022 which means close 2M seedlings have been planted.
All levels need to put more focus on urban and rural planning solutions
More work including spending on wildfire and forest fire mitigation
Canada and USA need to find a path forward to resolve the softwood lumber dispute
There needs to a better balanced between climate change policies and growing the economy in a sustainable way
3D printing for housing needs to become mainstream
More protection needs to happen with key ecosystems like wetlands, forest, and peatlands.
There is a risk of debt default if interest rates are hike over the next few months
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
The Impact of Generative AI and 4th Industrial RevolutionPaolo Maresca
This infographic explores the transformative power of Generative AI, a key driver of the 4th Industrial Revolution. Discover how Generative AI is revolutionizing industries, accelerating innovation, and shaping the future of work.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Upanishads summary with explanations of each upnishad
Public Sector - United States - How to Transform Government - June 2023.pptx
1. PUBLIC SECTOR – UNITED STATES
Senior Data and AI Specialist /
Senior Customer Success Manager
Paul Young CPA CGA
Date: July 12, 2023
2. PAUL YOUNG –
PRE-SALES, BUSINESS
DEVELOPMENT, AND CUSTOMER
SUCCESS MANAGEMENT
• CPA, CGA
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Risk Management
• SME – ESG and Sustainability Policy
Development and Reporting
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
• SME – Data, AI, Security, and Platform
• SME – Internal Controls and Auditing
Contact information email: Paul_Young_CGA@outllok.com
Slideshare: https://www.slideshare.net/paulyoungcga
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
3. AGENDA
• CBO Report – Fiscal Management – Federal
Government
• Corporate Taxation and United States
• USA Government Debt
• State and Local government fiscal health
• Blog – Audit and Analytics
• Blog – ESG
• Blog – Insurance and Risk Mitigation
• Blog – Governance Model
• Blog – Vegetation Management
• Blog – Asset Management and Monitoring
• Blog – Autonomous Finance
• Blog – GAP Analysis
• Blog – What is a Cost to Serve Modeling
• Blog – Revenue and Operational Planning
• Blog – Capital Planning
7. CORPORATE TAX AND THE UNITED STATES
Pillar 1 involves reallocation of profit and revised nexus rules and is concerned with what portion of profits should be taxed in the jurisdictions where clients or
users are located. Pillar Two contains an anti-base erosion mechanism to ensure that multinational enterprises pay a minimum level of tax.
“Pillar 2 will expand the taxable revenue collected globally from corporations by implementing a global minimum tax,” said Dicker. “They’re talking about a
minimum rate of 15%. The exact rate has not been decided yet. If a country where the effective tax rate is below 15%, then the home country where the
company is located can tax on the difference. For example, if a U.S. multinational is taxed in Ireland at 12%, then the U.S. can impose a tax to bring that
company up to the global rate. For any country that has a rate below15 %, the choice is to raise their rate or forgo the tax revenue and hand it over to the parent
to the parent country. Companies will be paying the same rate; it’s just a question of where they will pay it.”
Here is my updated work on the Office of Finance as it relates to audit, reporting challenges, managing the accounting standards, and other aspects of the
close, consolidate, and reporting cycle - https://ibm.box.com/s/x973uioy6ozwkzw7yvqaa07wdldp8gld
1. Business impact - https://www.mckinsey.com/business-functions/risk-and-resilience/our-insights/covid-19-implications-for-business
2. Data sharing - https://www.govtechreview.com.au/content/gov-digital/article/three-data-sharing-challenges-facing-public-sector-922138145
3. Digital - https://www.openaccessgovernment.org/embracing-a-new-era-of-public-sector-it-smart-sourcing/116903/
4. ESG - https://www.cfodive.com/news/companies-oppose-one-size-fits-all-sec-climate-disclosure-rule-survey/604547/
5. SPAC / restatements - https://www.cfodive.com/news/almost-90-percent-spacs-restate-financials/604267/
6. Cyber defense - https://cisomag.eccouncil.org/cisa-unveils-joint-cyber-defense-collaborative-to-boost-cybersecurity/
7. Fraud - https://www.quora.com/How-does-machine-learning-facilitate-fraud-detection
8. Real-time reporting - https://www.rtinsights.com/category/industry-insight/
9. Log analytics - https://neptune.ai/blog/machine-learning-approach-to-log-analytics
10. ESG - https://www.weforum.org/agenda/2021/08/now-time-for-action-on-sustainability-reporting/
Source - https://www.accountingtoday.com/news/international-agreements-spur-move-to-global-minimum-tax?position=editorial_1&campaignname=V2_ACT_Daily_20210503-
08102021&utm_source=newsletter&utm_medium=email&utm_campaign=V2_ACT_Daily_20210503%2B%27-
%27%2B08102021&bt_ee=Nq%2Fv7c3AMvoxz%2F6ThJ8wFssJSDsjTBGSjUtT53TmJ9QvzUau3wfriBrnT0c44gCN&bt_ts=1628589736714
13. AUDITS (AI AND ANALYTICS)
Blog - Overburdened Audit Committees Threaten Quality of External Audits - https://www.linkedin.com/posts/paul-young-055632b_overburdened-
committees-threaten-quality-activity-7061660284792307712-hIvc?utm_source=share&utm_medium=member_desktop
Most public company CFOs would want audit committee members to be available, aware, and undistracted. Unfortunately, audit committees, in general, are
drowning in information and data, having been handed an almost endless list of oversight responsibilities. That trend may endanger the quality and oversight
of financial reporting and external audits.
https://www.cfo.com/accounting-tax/auditing/2023/05/audit-committee-oversight-risk-external-auditor-baruch-conference-nacd/
This is why there needs to be a data strategy including having the right data at the right time to drive business outcomes.
https://www.slideshare.net/paulyoungcga/how-to-solve-data-management-isuses-for-both-the-private-and-public-sectorspptx-257454162
This is a great opportunity for various audit committees to review their integrated business planning and reporting cycle as part of better managing data to
drive both profitability and shareholder value.
https://actionkpi.com/integrated-profitability-program/
This also ties nicely to my work on the close, consolidate, and reporting cycle - https://www.slideshare.net/paulyoungcga/close-consolidate-and-reporting-
cyclepptx-256864692
14. GOVERNMENT AND ESG REPORTING
Blog - Materiality Question Dogs SEC’s ESG Disclosure Project -
“When it comes to disclosure, investors have told us what they want,” Gensler tweeted in early August. “It’s now time for
the commission to take the baton.”
However, it would be practically impossible for the SEC to require all the above-listed information in one expansive rule.
In addition, though it might please climate change activists, it would alienate issuers and bring heaps of scorn from the
business lobby. More importantly, though, it could violate a bedrock principle of SEC disclosure mandates: materiality.
Disclosures are material when they are reasonably likely to impact a company’s financial condition or operating
performance. Therefore, they are the most important to investors, to use the definition of the Sustainability Accounting
Standards Board.
https://www.cfo.com/regulation/2021/08/materiality-question-dogs-secs-esg-disclosure-project/
Blog - Auditors dialed back mandated disclosures - Study - https://www.linkedin.com/posts/paul-young-
055632b_auditors-dialed-back-mandated-disclosures-activity-7024744315759300608-
3F_r?utm_source=share&utm_medium=member_desktop
15. INSURANCE RISK MITIGATION
Global insured losses from natural catastrophes surged in the first half of 2021 to $42 billion, the second-highest amount since 2011.
The preliminary estimate from Zurich-based reinsurer Swiss Re attributed the high loss total to winter storms, intense heatwaves, and severe flooding across the
world.
The insured loss total exceeded the previous ten-year average (2011-2020) of $33 billion. It was second only to the losses in the first half of 2011, when the Great
East Japan earthquake and tsunami and the Christchurch, New Zealand earthquake pushed the six-month total to $104 billion.
A big contributor in the first half of 2021 was February’s winter storm Uri, a period of extreme cold combined with heavy snowfall and ice accumulation in the
United States. The event took the lives of 164 people, 151 of those in Texas, and triggered estimated insured losses of $15 billion.
Close to 4,500 people lost their lives or went missing in first-half disaster events.
Martin Bertogg, Head of Cat Perils at Swiss Re, said: “The effects of climate change are manifesting in warmer temperatures, rising sea levels, more erratic
rainfall patterns, and greater weather extremes. Taken together with rapid urban development and accumulation of wealth in disaster-prone areas, secondary perils,
such as winter storms, hail, floods, or wildfires, lead to ever-higher catastrophe losses. … The insurance industry needs to upscale its risk-assessment capabilities
for these lesser monitored perils to maintain and expand its contribution to financial resilience.“
https://www.cfo.com/risk-management/2021/08/weather-catastrophes-drive-near-record-insured-losses/
Here are additional links:
New Insurance reporting standard - https://ibm.box.com/s/mgtzq1mp1h4dxk5ei4ov1tr7dgoyn76e
Emergency Planning - https://www.linkedin.com/pulse/how-data-ai-can-help-better-safeguard-assets-through-emergency-young
Risk Mitigation - https://www.slideshare.net/paulyoungcga/how-to-mitigate-geopolitical-risks-as-part-of-safeguarding-your-assets-249988353
16. CRISIS MANAGEMENT (HOW TO BEST
SAFEGUARD ASSETS)
Both the public and private sectors are impacted by geopolitical events. It is very important for both the public and
private sectors to have audited crisis and emergency management processes and procedures as part of safeguarding
their assets through better crisis, risk, and emergency management reporting.
Link - https://www.slideshare.net/paulyoungcga/why-both-the-private-and-public-sectors-need-
mandatory-audits-of-crisis-and-risk-management-reports
17. GOVERNANCE MODEL
Governments at federal, state, and local government need to revisit their governance model to put more emphasis
on the following areas:
1. Ethics
2. Accountability and oversight through more performance audits
3. Mitigation of geopolitical events and other areas of risk management
4. Safeguarding assets from threats like cybersecurity and climate change
Source - https://www.slideshare.net/paulyoungcga/how-to-fix-the-goverance-model-for-the-public-sector-government-
249736146
18. BIODIVERSITY
• Blog – ESG and Sustainability
– Biodiversity Capturing and
Reporting -
https://www.linkedin.com/post
s/paul-young-055632b_what-
is-biodiversity-and-how-does-
it-affect-activity-
7038115093066223617-
CUHj?utm_source=share&utm_
medium=member_desktop
19. MITIGATING THE THREATS OF CLIMATE
CHANGE
Blog – ESG and Sustainability – How to Mitigate the impact of Climate Change – June 2023
- https://www.linkedin.com/pulse/blog-esg-sustainability-how-mitigate-impact-climate-
change-paul-young
20. VEGETATION
Blog - Safeguarding Assets through use of Weather Analytics and Vegetation Management Solutions - ESG and
Climate Change - https://www.linkedin.com/posts/paul-young-055632b_vegetation-
TQfV?utm_source=share&utm_medium=member_desktop
https://www.ibm.com/products/environmental-intelligence-suite/vegetation-management
This is a great opportunity for the utility sector to re-look at their asset management through using vegetation
and weather management solutions. Mitigation of risk from climate is becoming a key focus area for the utility
sector.
22. AUDIT AND PERFORMANCE AUDITS
Blog - Dynamic internal audit trends you should prepare for in 2022
A large class of “digital” goods and services have emerged and the use of digital methods of promoting goods and
services (digital marketing), as well as the capabilities of artificial intelligence and the growing cyber threats are
increasing.
Examples: remote asset management using gadgets with biometric user identification, analysis of consumer
preferences (with subsequent distribution of information). Extensive automation leads to the presence of system
vulnerabilities that can be exploited to harm.
Internal auditors, therefore, need to re-prioritize their different risk categories, allocating more time and resources to
the areas of cyber security and undertaking strategic risk management audits.
https://www.linkedin.com/pulse/dynamic-internal-audit-trends-you-should-prepare-2022-associates/
Both external and internal audit teams will focus on the following areas:
a) Regulatory filings, especially in areas like ESG (Environmental, Social, and Governance) Reporting
b) More work in areas like risk and crisis management
c) Adoption of AI as part of internal and external audit processes
d) Safeguarding assets through better monitoring
e) Adoption of industry 4.0 through enhancements to security policies and procedures.
f) Fraud prevention and detection
g) Mitigation cybersecurity risks and threats
23. BETTER CRISIS AND RISK MANAGEMENT
THROUGH USE OF GEOSPATIAL DATA
https://www.linkedin.com/posts/rwlord_river-flood-highest-since-2001-in-miss-valley-activity-
7062395985708085249-YI2M?utm_source=share&utm_medium=member_desktop
Leverage data and AI as part mitigating geopolitical risks and threats is becoming increasing important for
both private and public sectors. The ability to leverage geospatial data with business analytical tools like
Cognos Analytics and Planning Analtyics can lead to better risk mitigation as part of safeguarding assets.
Blog – Geospatial data with Planning Analytics - https://www.linkedin.com/posts/paul-young-
055632b_geospatial-data-with-planning-analytics-activity-7062420172178915328-
l43Y?utm_source=share&utm_medium=member_desktop
24. AUTONOMOUS FINANCE
Autonomous finance is a data-driven or algorithm-driven process that employs software to automate
financial operations and management.
Source - https://learn.g2.com/autonomous-finance
Key Stats
Consider the following statistics:
89% of financial services leaders believe that the first financial services companies to deploy autonomous
finance will carve out a large competitive advantage.
60% of financial institutions believe that autonomous finance enhances personalisation capabilities,
which improves their customer experience (CX).
As things stand, over 50% of the following finance and accounting activities are mostly or partially
automated: processing of transactions, procurement, preparation of financial reports, and
planning/forecasts, etc.
Source - https://www.receeve.com/blog/autonomous-finance-drives-collections-success or Blog – What is
Autonomous Finance - https://www.linkedin.com/pulse/blog-what-autonomous-finance-paul-young
25. WHAT IS GAP ANALYSIS
A gap analysis is the process that companies use to compare their current performance with their desired,
expected performance. This analysis is used to determine whether a company is meeting expectations and
using its resources effectively.
A gap analysis is how a company can recognize its current state—by measuring time, capital, Revenue,
operational, planning, ESG, and HR planning—and compare it with its target state. By defining and analyzing
these gaps, the management team can create an action plan to move the organization forward and fill in the
performance gaps.
Source - https://www.investopedia.com/terms/g/gap-analysis.asp
Additional Link - https://www.slideshare.net/paulyoungcga/how-gap-analysis-can-better-support-business-
decisions
26. WHAT IS COST TO SERVE MODELING
As more businesses have come to understand the customer-driven side of the supply chain, a new framework has
emerged to answer questions about how the cost of sales, services, and last-mile logistics affect the bottom line.
This new way of thinking about profitability in the supply chain is commonly known as cost to serve.
https://www.coupa.com/blog/supply-chain/cost-serve-framework-for-profitability-and-customer-excellence
Key to cost to server modeling
1. Understanding business drivers
2. Strong data governance and management structure
3. Establish key metrics and targets.
4. Revamping business processes as part of overall cost planning and control
5. Revamping sales process including managing of price changes, contract pricing, etc.
The cost to serve model can be used for either the public and private sectors as part of overall managing of the
fiscal cycle including revenue, costs, capital, ESG, and human resources management.
Additional links: https://www.slideshare.net/paulyoungcga/profitability-and-costing-solutions-office-of-finance-
and-cfo
27. THE IMPORTANCE OF REVENUE AND
OPERATIONAL PLANNING
Blog – The importance of Sales and Operational Planning
Integrating sales and operations planning (S&OP) into an enterprise-wide process creates a robust picture for
executive decision-making. It ties together demand, supply, and financial planning as part of a company’s master
planning. Sales and operations planning is essential to the supply chain because it creates a view for future operations
and holds people accountable for data that impacts your bottom line.
Beginning with projected demand, S&OP looks at available resources and operational performance to understand the
landscape when making financial decisions. The process involves strategic and tactical plans.
Source - https://www.coupa.com/blog/supply-chain/what-sales-and-operations-planning-sop-and-how-it-can-benefit-your-
business
Five reasons why Sales and Operational Planning is important:
1. Balances Supply and Demand.
2. Cross-functional involvement.
3. No Surprises.
4. One set of Numbers.
5. Key Business Communication Tool.
28. CAPITAL PLANNING / PUBLIC SECTOR
Blog – Capital Planning and the Public Sector
Substantial funds: Normally, huge funds are required for processing a capital expenditure, and the availability of funds
may be an issue. Therefore, organizations must wisely make capex decisions.
Irreversible: The decision cannot be changed easily once a CAPEX is incurred. Reversing the capex decision may
prove to be significantly costlier for any entity.
Uncertainty: It becomes difficult to foresight expenses that may occur in the future. CAPEX involves huge costs and
results that may extend to the end. Hence, characterizing the exact CAPEX decision is uncertain, affecting future
expenses.
Measurement Issue: The cost and benefits of CAPEX are challenging to identify and measure.
Temporal Spread: Decisions made regarding CAPEX are consistent over a long time, and investments it includes are
called long-term investments. These long-term investments create problems getting the exact discount rates and
maintaining their equivalence in the coming period.
Source - https://www.educba.com/capital-expenditure/
Complexity of capital management is driving the need to use more sophisticated Data and AI modeling.
These Data and AI models can provide more insight and oversight of the state of capital spending and the cost of building and maintaining
public sector infrastructure for current and future needs of their population base.
Best Practices - https://www.gfoa.org/materials/capital-asset-management
29. ISSUES FACING ALL LEVEL OF
GOVERNMENTS
• Tax fairness
• Ability to deliver program spending with value for money
• Funding of liabilities like healthcare
• Infrastructure gaps
• Federal reserve needing to address issues with productivity, innovation, and skills gaps
• Urban planning
• Economic development
• Securing the borders
• Violent crime and guns
• Access to affordable housing
• Addressing issues with high cost of living
• Adopting more value for money and performance audits
• Refining crisis and emergency management planning and reporting
• Addressing issues with productivity and the supply chain
Blog – How to Transform the Public Sector Governance Model – July 2023
All levels of government are facing many challenges including crumbling infrastructure, public safety,
impact of climate change, affordable housing, and managing the taxes as part of delivery program
spending to their residence.
Key links and sources
Blog – Sector – Public (Government) Sector – Pittsburgh crumbling Infrastructure and need for more
spending on infrastructure along with better asset monitoring - https://www.linkedin.com/posts/paul-
young-055632b_fern-hollow-collapse-illustrates-poor-us-activity-7084701728729677824-
LFa7?utm_source=share&utm_medium=member_desktop
ESG and the Public Sector - Blog – Now the Standards are out for ESG – What is next -
https://www.linkedin.com/posts/paul-young-055632b_the-issb-has-released-new-esg-reporting-
standards-activity-7083144743563522048-8uja?utm_source=share&utm_medium=member_desktop
Public sector challenges - https://www.deloitte.com/global/en/our-
thinking/insights/industry/government-public-services/government-trends/2023/cross-agency-
collaboration.html
Close, consolidate, and reporting - https://www.slideshare.net/paulyoungcga/close-consolidate-and-
reporting-cyclepptx-256864692
Key Environmental Areas – https://www.linkedin.com/posts/paul-young-055632b_7-
environmental-factors-for-esg-reporting-activity-7071476082784276480-
EYDt?utm_source=share&utm_medium=member_desktop
Data Management - https://www.slideshare.net/paulyoungcga/how-to-solve-data-management-isuses-
for-both-the-private-and-public-sectorspptx-257454162
ESG-myths-realities-d
oes-adopting-a-stakeholder-model-undermine-corporate-governance.pdf
Public (Government)
Challenges.pdf
2023-12-07_Congress
Budget Office.pdf