Small business: Digital growth

Small businesses and the economy generally, can realise significant benefits by embracing mobile and internet technologies to transform their operations. Powered by PwC’s Geospatial Economic Model (GEM), the report shows that small businesses can unlock an additional $49.2 billion of private sector output over the next ten years by making better use of these technologies. In each State and Territory across Australia, small businesses have the potential to help grow the economy. The economy of each State and Territory is underpinned by different economic drivers. As a result, each has opportunities to contribute differently. Looking at this same figure in geographic terms, nationally every Federal electorate would contribute almost$327.7 million of economic output over the next ten years (or approximately $33 million per year). This would be roughly the same as a significant capital project like a major roadway or a hospital update. And the benefits are not limited to large businesses, tech-companies, or those based in capital cities. Small and medium businesses across a wide range of industries and locations stand to benefit. GEM provides unparalleled insights into where potential economic gains are located. For the first time, an economic analysis allows us to explore where potential economic gains are located, down to every State/Territory and Federal electorate. PWC\u27s modelling shows that while all regions and industries have much to gain, some have more to gain than others. For example, 53% of the potential economic benefit can be made by small businesses located outside Australia’s inner metropolitan centres. Furthermore, 17% of Federal electorates (or 25 of the 150) could account for 50% of the potential private sector boost to the economy

Study in respect of introducing an optional reverse charge mechanism in the EU VAT Directive

One of the debated solutions to combat certain types of VAT fraud is the introduction of a general reverse charge mechanism in the VAT system for all invoices with an amount above a certain threshold and issued between businesses. In that respect, the European Commission decided to explore the impact of the introduction of such a general reverse charge VAT system in some Member States whereas other Member States would not introduce such a general reverse charge mechanism.European Union, taxation, VAT

The Mediating Role Of Absorptive Capacity On The Relationship Between Climate And Commitment

Much of prior research on organizational learning studied the role of firm’s absorptive capacity. While there is an implicit research consensus on the definitions and outcomes of absorptive capacity, researchers do not seem to have reached a collective understanding of the process by which organizations become able to absorb external knowledge and then produce valuable outcomes. With this purpose we identify a well reviewed valuable outcome by the literature, i.e. the relation between climate and commitment, and we attempt to investigate the mediating role of absorptive capacity on the relation between organizational climate and commitment. The research model we propose was tested on a sample of 143 individuals belonging to some Italian organizations. Our findings show that absorptive capacity can act as leverage for achieving a higher level of employees’ commitment to the organization

Innovate and prosper: ensuring Australia's future competitiveness through university-industry collaboration

Executive summary The continuation of Australia’s economic growth is under threat. In order to sustain the levels of prosperity we have previously experienced, we have to build on our competitive edge in key industries to remain globally competitive. Alongside these developments, Australia’s higher education system is under increased pressure to become more productive and develop courses that address employability. Innovation represents the most reliable and sustainable solution to transition into a high value, high wage economy. Yet Australia ranks 29th out of 30 in the Organisation for Economic Co-operation and Development (OECD) in terms of the proportion of large businesses and small to medium enterprises (SMEs) collaborating with higher education and public research institutions on innovation.   This report acts as the next level of detail to publications such as the Department of Industry’s Boosting the Commercial Returns from Research report and the Business Council of Australia’s Building Australia’s Comparative Advantages, which have highlighted Australia’s poor performance in collaborative innovation. We present five recommendations that are a call to action to universities, industry and Government to take the necessary steps to build an innovation economy. They are not a call for additional funding from Government, rather a more effective way of using our existing resources. PricewaterhouseCoopers (PwC) have engaged with leading figures from industry, including the Australian Industry Group (Ai Group), and partnered with the ATN to develop this five point action plan for Government, the university sector and industry 5 that will provide incentives and impetus for collaboration. Our recommendations include: Rebalance the national research agenda to underpin Australia\u27s economy and future prosperity Create incentives for university-industry collaboration Train researchers for diverse careers Enhance career mobility between industry, academia and government Provide incentives for co-investment in research infrastructure between universities, industry and state and federal government Each recommendation contains a number of practical strategies for consideration by Government, universities and industry. The hope is that the report will encourage dialogue between the three groups and prompt bold policy changes in the coming 12 months and beyond. &nbsp

Sustainability in the professional accounting and finance curriculum: an exploration

Purpose: Whereas the integration of sustainability into business schools has received increasing attention in recent years, the debate continues to be generic rather than recognising the peculiarities of the more quantitative sub disciplines such as accounting and finance which may of course be intimately linked to professional standards. The purpose of this paper, therefore, is to examine the extent to which sustainability is integrated into accounting and finance curricula in business schools, how, and to understand some of the challenges of doing so. Design/methodology/approach: This paper presents the findings from a systematic form of literature review which draws on the previous literature about how sustainability is embedded into business school curricula and the challenges in doing so. A particular focus is placed on how the ways in which sustainability is integrated into accounting and finance curricula in business schools. Findings: The paper demonstrates that accounting and finance lags behind other management disciplines in embedding sustainability and that institutional commitment is oftentimes a strong imperative for effective integration of sustainability. Practical implications: This paper is a call to practitioners and researchers alike to explore new ways of integrating sustainability in the accounting and finance curricula, including working across boundaries to provide learning opportunities for future accountants, financial managers, and generalist managers. Originality/value: The paper offers an original analysis and synthesis of the literature in the context of the accounting and finance curricula in business schools, and proposed a conceptual framework to further develop sustainability education in the context of business schools

Study on the VAT invoicing rules contained in the VAT Directive

A study on the VAT invoicing rules contained in the VAT Directive (2006/112/EC) was carried out for the European Commission by PricewaterhouseCoopers. It aims to look at the four principal areas of invoicing - the requirement to issue an invoice, the content of an invoice, electronic invoicing and the storage of invoices - with a view to mapping the existing legislation in all Member States, analysing burdens on business and Member States' control needs, and providing recommendations for a more harmonised and modern set of VAT invoicing rules.European Union, taxation, VAT

AIG PWC Notes of the Audit Committee meeting

Attendees of AC Members present included: Robert Willumstad, Neil Sutton, Offit, Myles, Bollenback, John Zarb, Treise Langerhammer, Hammerman, Orr, Roemer, and J Gamble