Canada's CAs extend historic agreement with U.S. and Mexican counterparts

TORONTO, April 17 /CNW/ - Canada's Chartered Accountants today announced the extension of the historic Professional Mutual Recognition Agreement (PMRA) with their American and Mexican counterparts.

A special signing ceremony took place this afternoon in Alexandria, Virginia, involving Canada's CAs, the Certified Public accountants (CPAs) from the United States and Mexico's Contadores Publicos Certificados (CPCs). Representatives from all three governments attended. This accord is a five-year extension of the first-ever mutual recognition agreement among professional designations consistent with the North American Free Trade Agreement (NAFTA). It was originally signed in 2002 and ratified by the NAFTA Free Trade Commission.

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Learning Curve Theory

Learning Curve Theory is concerned with the idea that when a new job, process or activity commences for the first time it is likely that the workforce involved will not achieve maximum efficiency immediately. Repetition of the task is likely to make the people more confident and knowledgeable and will eventually result in a more efficient and rapid operation. Eventually the learning process will stop after continually repeating the job. As a consequence the time to complete a task will initially decline and then stabilise once efficient working is achieved. The cumulative average time per unit is assumed to decrease by a constant percentage every time that output doubles. Cumulative average time refers to the average time per unit for all units produced so far, from and including the first one made.

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Areas of consequence:
A Standard Costing …

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