Exxon lawsuit

Posted by & filed under Advanced Accounting.

Description:  Exxon calls it “baseless allegations.” But the New York Attorney General is moving ahead with a lawsuit, saying Exxon deliberately understated the potential liability for dealing with carbon costs in Canada’s oil sands.  Right now the Attorney General is floating a figure of approximately $30 billion in understatements.  The aim of the legal claim seems to… Read more »

Fraud charges in Antigonish

Posted by & filed under Auditing.

Description:  In Nova Scotia, the RCMP have now laid charges against James Edward Marlow, for allegedly misappropriating at least $243,000 from the Coady Institute. The Coady Institute, on the campus of St. Francis Xavier University in Antigonish, is known for its work in training for international development efforts. The fraud was detected by an auditor… Read more »

5G Pressure

Posted by & filed under Accounting Principles, Managerial Accounting.

Description:  In Canada right now there are about 33,000 cellphone towers. That may seem like a lot, but with telecommunications providers moving towards 5G networks, estimates have it that Canada will need over 270,000 so-called small cells in the next few years. These devices, about the size of a briefcase, are intended for placement in… Read more »

Now that’s thinking!

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

Description:  In many locations in Canada last Wednesday lines formed outside retail establishments as customers queued up to purchase marijuana on the first day of legal sales. One enterprising Edmonton Girl Scout spotted an opportunity. Nine year old Elina Childs visited the line with her Girl Guide cookies and quickly sold out her supply to… Read more »

Pension accounting costs big time!

Posted by & filed under Accounting Careers, Canadian governments.

Description:  One of the big factors in pension accounting is the discount rate. For the last couple of years, the Auditor General of Canada has expressed concern that the federal government may be using a rate that is too high. The government has decided to respond to his concerns by adopting a higher rate, meaning… Read more »

No longer a crime

Posted by & filed under Financial Accounting.

Description:  Roughly 100 years after it was criminalized, later this week the Canadian government is ending its ban on marijuana. The provinces have developed various retail methods to place the product in the hands of consumers. But when the doors open on October 17, some are predicting product shortages. Part of the problem is a… Read more »

The Wealthy Barber

Posted by & filed under Accounting Careers, Student life.

Description:  Rob Carrick, the Globe and Mail’s personal finance columnist, has helped a lot of Canadians improve their financial literacy. In a recent column, he answered a question from a grandmother wanting to know what personal finance book to purchase for her grandson.  Carrick’s answer: David Chilton’s The Wealthy Barber. The book is almost thirty years… Read more »

Not the list you want to lead

Posted by & filed under Corporate Social Responsibility.

Description:  It’s one list a company does not want to lead. But Nestlé Pure Life, Tim Horton’s, McDonalds, Starbucks and Coca-Cola are the top five identified brands in Greenpeace’s annual trash identification exercise on Canada’s beaches. Greenpeace gathered trash items on September 15, World Cleanup Day, on four separate beaches in various parts of Canada. The fact… Read more »

No time for education

Posted by & filed under Managerial Accounting.

Description:  A report this week in the Toronto Star discussed the disturbing findings of a survey showing that principals don’t have time to dedicate to improving education. It appears that too much time is eaten up by the day-to-day management of buildings and other administrative tasks. According to the Star, Annie Kidder of the group People… Read more »

And for this week’s comeback story

Posted by & filed under Financial Accounting.

Description:  Last week this blog featured a story on how Blackberry had turned a profit by transforming itself from a handset company to a software vendor with a valuable automobile industry component. This week, the Washington Post featured a story on how Toys R Us – a company that had shuttered its US retail operations… Read more »