Out of stock!

Posted by & filed under Accounting Careers, Managerial Accounting.

Description:  How did this happen? So, you’ve probably heard that marijuana has been legalized and there are now a variety of ways to buy it, depending on where you live. But in New Brunswick, where the government has chosen a Crown corporation model, at least 12 of the roughly twenty Cannabis NB stores were shut… Read more »

Caught them napping

Posted by & filed under Accounting Careers, Student life.

Description:  According to a recent survey by Robert Half, over three-quarters of Canadians are tired at work on a fairly regular basis. If you are tired, it is more difficult to put in a strong effort at work. More mistakes can happen. Profits could suffer. Productivity catalyst Clare Kumar argues that both management and the… Read more »

That’s billions with a “b”

Posted by & filed under Accounting Careers.

Description:  It’s been a source of dispute between Newfoundland and Quebec for many years. But the Supreme Court ruled this week that there is no need to reopen the 65 year agreement covering the Churchill Falls hydro development. The problem is that Hydro Quebec has earned about 27.5 billion  dollars from the project because the… 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 »

Taxpayers subsidize UFC?

Posted by & filed under Accounting Careers.

Description:  It’s controversial. But in a 7-2 vote Moncton city council voted to provide $100,000 of taxpayers’ money to an upcoming UFC card in the city’s new entertainment complex. The use of public money on a sporting event is drawing lots of media attention. Those that voted for the move relied on staff reports talking… Read more »

Loblaws and taxes

Posted by & filed under Accounting Careers, Tax Planning.

Description:  Loblaws, a major Canadian grocer, was hit with a massive $368 million tax bill in a case held before the Tax Court of Canada. The case was not directed against the grocery business, but rather at a Bahamian banking subsidiary of the grocery chain. Although Loblaws intends to appeal the decision, officials announced that… Read more »

Trouble at Leon’s

Posted by & filed under Accounting Careers, Succession Planning.

Description:  Succession issues can pose a serious problem with family owned businesses. It seems that this is the case at Leon’s furniture where family members are now feuding over ownership of a certain class of shares. A complex series of trust arrangements appears to be a central issue as a widow of one of the… Read more »

No wonder the payroll can’t get paid!

Posted by & filed under Accounting Careers.

Description: Many Canadians have heard by now of the Phoenix payroll system failures. (It was featured in this blog on November 27, 2017.) The delays in federal employees getting the right pay at the right time just don’t seem to be disappearing. And, this week we learned there aren’t anywhere near enough parking spots for the… Read more »

Debt in retirement

Posted by & filed under Accounting Careers.

Description: And in another poll, along comes the sobering news that many Canadians are carrying mortgages into retirement. Roughly 25% of those between 55 and 80 seem to have some form of debt.  A Toronto financial planner states “it suggests that a large percentage of the population either doesn’t think about retirement much or doesn’t… Read more »