Description: On January 22, New Brunswick’s Auditor General, Kim MacPherson, released her report for 2014. Two issues which grabbed a lot of attention were the Province’s increasing public debt and NB Power’s refurbishment of the Point Lepreau nuclear generating station. Another important issue raised was the deteriorating state of the Province’s public assets, and the… Read more »
Monthly Archives: January 2015
The big 80
Description: The charitable organization Oxfam released a report last week, adding another voice to the chorus of those raising alarm bells on rising global inequality. Oxfam’s report says that the richest 80 people in the world own as much as the 3.5 billion humans at the bottom of the economic scale. Oxfam calls for a… Read more »
A long-running dispute
Description: It has been dragging on for over 20 years. But now, a $220 million offer from Coopers and Lybrand, Chartered Accountants, has been put forward to take care of all claims resulting from the failure of Castor Holdings in 1992. Coopers Lybrand, which subsequently merged with Price Waterhouse, was the auditor of Castor Holdings,… Read more »
Target leaving town
Description: Many were caught by surprise last week when retail giant Target announced it was ending its Canadian experiment and closing all of its stores here. Many have speculated on what went wrong in this strategic misstep. Impacts of Target’s withdrawal may be difficult to assess, but it will certainly hit the retail real estate… Read more »
High frequency trader charged
Description: A Canadian has been arrested in Florida for his alleged involvement in a high-frequency trading scheme. Allegations suggest that the Canadian trader used a plan known as layering or spoofing to impact share prices. It appears that the scheme was detected when the trader approached an employee of a bank in an attempt to… Read more »
Financing public infrastructure
Description: On Tuesday, January 13, the Quebec government announced that the provincial pension fund, the Caisse de dépôt et placement du Québec, would make a $5 billion investment in the province’s transportation network. The pension fund will provide both the financing and the management for these assets. This mixing of political and pension goals may… Read more »
Holstein hero
Description: Rosafe Signet is sort of a household name in Cuba, but he is barely known in his Canadian home. This prize Holstein bull is the father of much of Cuba’s dairy herd. Now, with President Obama’s warming of relations towards Cuba, and the actions of a determined Vancouver attorney named Carey Linde fronting the… Read more »
How about those fees for flying?
Description: Air Canada recently reported its best quarter in corporate history. No doubt all those extra fees airline customers have to pay fit somewhere into that profitable picture. In the US, this so-called ancillary income – where it is disclosed – is up from $2.5 billion back in 2005 to $31.5 billion for 2013. That’s… Read more »
Europe and deflation
Description: In December, Europe officially entered the deflationary zone, with a 0.2 per cent drop in the consumer price index. The European Central Bank is being pressured to respond to this situation. A deflationary environment, if it persists, can be very damaging if people begin to expect a future of declining prices. Source: Globe and… Read more »
Life insurance and macadamia nuts
Description: When you think of Manulife Financial Corp, you probably think of life insurance. But you may be surprised to learn that the company has diverse investments ranging from timber to renewable energy to macadamia nuts. A broader range of investments helps the company compete in the wealth management business while offering growth potential. Source:… Read more »
Burnley Understanding Financial Accounting, 3rd Canadian Edition
Kimmel Financial Accounting, 8th Canadian Edition
Weygandt Accounting Principles, 9th Canadian Edition
Kimmel Survey of Accounting, 2nd Edition
Kieso Intermediate Accounting, 13th Canadian Edition
Weygandt Managerial Accounting, 6th Canadian Edition
Farmer Cost Accounting, 1st Edition
Savage Accounting Information Systems, 1st Edition