Pandemic and Workplace Safety

Posted by & filed under Ethics, Managerial Accounting.

Description: Business has been booming at Amazon, but that’s not all good news for the Amazon employees. Tim Bray, a vice-president in the organization left Amazon this past spring, noting that while white-collar employees have excellent work conditions, things are not so nice on the warehouse floor. Workers have been concerned about a lack of… Read more »

December Brings Job Losses

Posted by & filed under Auditing, Student life.

Description: Canada’s economy lost over 60,000 jobs in December. This was the first drop in employment Canada experienced since April, a month when the early days of the Covid crisis hit especially hard. The service sector – not surprisingly given the various public health restrictions – took the largest hit. Date:  January 8, 2021 Source: … Read more »

Big Fine in Tax Case

Posted by & filed under Taxation.

Description: It doesn’t pay to not pay your taxes; at least not in this case. A Halifax hotelier and restaurant owner has been fined $113,223, the same amount as the sales tax he withheld from paying the Canada Revenue Agency (CRA). The businessman, Pantelis Panagiotis Giannoulis, will also have to repay the taxes he failed… Read more »

Musk Now World’s Richest

Posted by & filed under Financial Reporting and Analysis.

Description: Elon Musk has now moved past Jeff Bezos for the number one spot on a list of the richest people in the world. With shares of Tesla climbing towards $800 each, Musk benefited enough to push him into the number one spot. Tesla’s sky-high valuation comes despite the fact that it manufactures far fewer… Read more »

First, Take Wage Subsidy; Second, Pay Dividends

Posted by & filed under Canadian Government, Ethics.

Description: An analysis by CBC of 53 Canadian public companies shows that over half of them have paid out dividends to shareholders while collecting the federal government’s Canada Emergency Wage Subsidy (CEWS). The point of the CEWS was to help these and other companies to keep their staff working while facing the economic crush of… Read more »

Disney+ Charge up $3

Posted by & filed under Financial Reporting and Analysis.

Description: The Disney+ streaming service has only been available in Canada for about a year, but the price is going up from $8.99 to $11.99 on Feb 23, 2021. It’s not as bad as it sounds though as Disney will be adding its Star service as one of the options included in the package. Star… Read more »

Got Any Really Cold Freezers?

Posted by & filed under Cost Accounting, Managerial Accounting.

Description: Apparently there’s a bit of a run on really, really cold freezers. With the world looking to begin vaccinating populations against Covid-19, and the need to store Pfizer’s new vaccine in very cold temperatures, businesses like 360 Medical are looking to supply health care users. A freezer about the size of a dorm-room fridge… Read more »

Mortgage Below 1%

Posted by & filed under Contemporary Business Issues, Marketing & Strategy.

Description: This may never have been seen in Canada before: a mortgage rate below 1%. CanWise Financial’s President, James Laird, stated that the 0.99% figure HSBC placed on offer isĀ “definitely eye catching.” And that may just be the point. Samantha Brookes, the CEO of Mortgages of Canada observed that “banks are being aggressive in trying… Read more »

Now That’s a Write-down

Posted by & filed under Financial Accounting.

Description: Exxon, the giant oil company, seems ready to write down between $17 billion and $20 billion in assets. With collapsing oil prices, Exxon’s natural gas deposits in the Americas are over-valued. About 10 years ago Exxon acquired XTO Energy for about $35 billion, and with it, XTO’s gas fields. In the rear-view mirror, one… Read more »

Even Economists Are Confused

Posted by & filed under Canadian Economy.

Description: Job gains announced last week were three times higher than expected. Statistics Canada was way off on its call of quarterly results for Gross Domestic Product. If Covid-19 hadn’t already thrown enough curve balls already, now you can include the notion that the economic results are even confusing the economists. The deputy chief economist… Read more »