Posted by & filed under Accounting Careers, eCommerce, Financial Reporting and Analysis.

Description: CIBC and TD Bank reported their year end financial results last week and one thing both banks shared were heavy costs related to job cutbacks. The cuts seemed aimed at reducing costs on a go forward basis to make the banks more competitive. Banks are envisioning competitive challenges – a sort of Uberization of the industry – that are sparking investments in technology at the same time that they are absorbing charges for laying off employees.


Date: December 3, 2015


Discussion Points:

1) Do you think technologies such as Apple Pay will threaten the banking industry? Why?

2) What accounting disclosures might you expect in the banks’ financial statements around this matter of charges for restructuring?

3) If you were an accountant being asked for advice on where cutbacks could be made, what are some of the criteria you would use in making your decisions?

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