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 is “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 »

Is the Dome Coming Down?

Posted by & filed under Financial Accounting.

Description: Rogers Communications has contradicted some initial reporting that the Rogers Centre – the building originally called the Skydome – is not going to be torn down; well, at least not for now. Earlier on Friday the Globe and Mail reported the building would be razed. The notion was that Rogers and Brookfield Capital Management… Read more »

CRA CERB Warning

Posted by & filed under Personal Tax.

Description: The Canada Revenue Agency – the CRA – is sending warning letters to 213,000 Canadians telling them that they may have been paid overpaid by the Canada Emergency Response Benefit (CERB) program. Those who have been paid too much will not have to pay the surplus back immediately, thanks to a government moratorium on… Read more »

Mentors/mentees

Posted by & filed under Accounting Careers, Student life.

Description: It’s an appealing prospect for a new graduate: having a mentor to help guide you in important decisions for your career. IBM’s talent acquisition manager Bridget King spoke recently about her tips for making these relationships successful ones. She offers four points on how to proceed with your mentor, including being curious. Date:  November… Read more »

Canadians Build Desks

Posted by & filed under Accounting Careers, Student life.

Description: One thing the Corona virus seems to have done in Canada is that it created a building boom with Canadians assembling IKEA desks to beat the band. During the pandemic, Canadians purchased 631,800 desks, presumably to help them work at home during this time. This outfitting of home offices has been a welcome boost… Read more »

Big $ for St. John’s Firm

Posted by & filed under Data security.

Description: Nasdaq is looking to buy the St. John’s based online security firm Verafin for $2.75 billion. Verafin’s security reach extends to tracking down elusive financial crime, such as money laundering. The plan is to keep the firm in Newfoundland and Labrador, with Nasdaq’s global client base offering an excellent opportunity to grow the business…. Read more »

Missing: $247 Million

Posted by & filed under Taxation.

Description: Canada’s new Auditor General, Karen Hogan, appeared before Parliament’s Public Accounts Committee on Tuesday to discuss her Office’s 2019 report on e-commerce. In a nutshell, transactions with foreign vendors are not being taxed correctly. Not only has this placed Canadian vendors at a disadvantage, it has cost our public purse $247 million. Date:  November… Read more »