Snow plow woes

Posted by & filed under Accounting Careers.

Description:  So they have large and expensive houses there on Yacht Haven Lane in Saint John, New Brunswick, and so of course they pay their fair share of property taxes. You can imagine then, that the Yacht Haven Lane residents would expect the City to plow their road. But years ago, when the property developer,… 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 »

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 »