Huawei Chief Financial Officer Arrested

Posted by & filed under Contemporary Business Issues.

Description: Some shocking news emerged this week as we found out that Canada had arrested Huawei Chief Financial Officer Meng Wanzhou at the request of the United States. As the Canadian court held a bail hearing on Friday, it seems that the CFO faces possible fraud charges regarding Huawei’s use of a subsidiary to sell product… Read more »

Problems at GE

Posted by & filed under Accounting Careers, Financial Accounting.

Description:  For many years, General Electric (GE) was a darling of the stock market, hitting target after target and pursuing solid growth. But now, analysts are sounding alarm bells. There are liquidity concerns about GE, as well as an ongoing investigation of its insurance business. In addition, there may be possible tax issues to deal… Read more »

This sounds familiar

Posted by & filed under Contemporary Business Issues.

Description:  Many of us have heard about Tim Horton’s franchisees suing parent franchisor, Restaurant Brands International. But now comes word that franchisees of Second Cup are suing their head office as well. Franchisees are unhappy with their profit performance, arguing that the parent’s use of an advertising fund may have harmed them. Franchisees are also… Read more »

Financial misconduct ousts Nissan chair

Posted by & filed under Corporate Governance, Ethics.

Description:  Nissan Chairman Carlos Ghosn has been ousted for financial misconduct. This is shocking news for the man credited with turning the company around. The details of the investigation have not been made public, but one aspect seems to be a under reporting of Ghosn’s compensation. Ghosn has been arrested along with a Nissan director… Read more »

Do you like chocolate?

Posted by & filed under Auditing.

Description:  Do you like chocolate? Well a lot of the world sure does. There’s a bit of a crisis in the cocoa world these days though, according to Bloomberg. One of the big suppliers, Saf-Cacao of Ivory Coast, has become part of a total of 32 exporters who have defaulted on their supply agreements. KPMG… Read more »

Going DEEP

Posted by & filed under Canadian governments, Managerial Accounting, Sustainable Development.

Description:   Deep Earth Energy Production Corp. (DEEP) is going deep. The company is the driving force behind a 3.5 km deep well to be drilled in Estevan Saskatchewan. The well will generate geothermal energy from underground steam, providing a source of green power to the Western province. Funnily enough, DEEP’s deep well source was discovered… Read more »

Canada Goose is flying high

Posted by & filed under Advanced Accounting, Marketing & Strategy.

Description:  With winter-like weather hitting several parts of Canada last week, you may have seen many citizens enjoying the warmth of a “Canada Goose” jacket. With rising revenues, the company is seeing its shares up about twenty percent. Meanwhile, Canada Goose has invested in the acquisition of Baffin, a footwear manufacturer. It looks like Canada Goose… Read more »

We’re carrying a lot of debt!

Posted by & filed under Canadian Economy, Student life.

Description:  Canadians are carrying a lot of debt. Canadians debt ratios now sit at 169% of disposable income of households. In 2006 the ratio was at 132%. Canada’s central bank is concerned that the consumer debt issue could put the economy in trouble as the low interest rates of the past few years creep higher…. Read more »

So much for stimulation by tax cuts

Posted by & filed under Canadian Economy, Taxation.

Description:  According to the theory, the massive US tax cuts of last year were supposed to get the tech companies hiring lots of workers. But according to the Financial Times of London, five large American tech firms, including Apple and Alphabet, spent $115 billion on share buybacks. This could be setting up the companies for… Read more »