Household debt rising in Canada

Posted by & filed under Accounting Careers, Canadian Economy.

Description: One downside of the long period of low interest rates is that consumers have been piling on the household debt. With income growth in trouble, debt is growing faster than household income. Canadians now owe almost $1.70 per every $1 coming in. The Bank of Canada is concerned about the impact of these debt… Read more »

What did you work at this summer?

Posted by & filed under Accounting Careers.

Description: This past Saturday the Globe and Mail Report on Business featured a rather different sort of an article where ten highly successful Canadians talked about their summer jobs of years gone by. Finance Minster Bill Morneau talked about the value of hard work at his summer jobs. David McKay of the Royal Bank noted… Read more »

Duffy not guilty

Posted by & filed under Accounting Careers, Auditing.

Description: It would have been hard to miss it, the news of  Senator Mike Duffy’s acquittal on all 31 criminal charges he faced for his role in the Senate expense controversy of recent years. The trial judge said Senator Duffy may have made various administrative errors in his expense claims, but there was nothing of… Read more »

Shareholder pressure up; salaries down

Posted by & filed under Accounting Careers, Accounting Theory.

Description: With shareholder pressure on the uptick, the latest survey of salaries among Canadian bank executives shows that overall compensation is down. Board’s may be looking at performance benchmarks more closely, accounting for some of the reduction in salary. But it is possible that the fact that four of the five CEO’s at the largest… Read more »

Those Panama Papers

Posted by & filed under Accounting Careers, Ethics, Taxation.

Description: It was hard to miss the news this past week of the so-called Panama Papers. This vast leak of over 12 million documents has provided lots of data on potential tax avoidance for journalists to sort through, and plenty of headaches for politicians and public figures forced to account for dealing with the Panamanian… Read more »

And so it continues . . .

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

Description: And so it continues. The Blackberry bad news keeps coming, almost like the old football penalty of piling on. Despite introducing a new Android device called the Priv phone, revenue for the quarter declined. Blackberry failed to meet analysts’ revenue projections, despite this new device which combines the advantages of Blackberry’s vaunted security with… Read more »

What do you want to do for the rest of your life?

Posted by & filed under Accounting Careers.

Description: A study funded by the Canadian Education and Research Institute for Counseling has shown that educators can begin reaching out to children as young as those in grade 5 with career choices. The Career Trek program, in partnership with two Manitoba universities, began introducing students to career information in grade 5. Then it follows… Read more »

50 Cents Worth

Posted by & filed under Accounting Careers, Advanced Accounting.

Description: Hip hop entertainer 50 Cent has lots of assets. The only problem is, he has even more liabilities. His application for bankruptcy hit a bit of a road block this week when an attorney representing the trustee’s office asked for a deeper look at the rapper’s finances. The questioning appeared to have been prompted… Read more »

Delinquency up in Alberta

Posted by & filed under Accounting Careers, CPA.

Description: According to the credit rating agency, Equifax Canada, Albertans have the highest debt levels of all Canadians. What’s more, delinquencies are up over 25% from the previous year. Perhaps this delinquency stat should be of no surprise, given the price decline in oil and its related negative impact on employment in the oil patch…. Read more »

Bad day to come back from sick leave

Posted by & filed under Accounting Careers, Accounting Principles.

Description: Monday’s can be hard enough. But for Valeant Pharmaceutical’s CEO Michael Pearson, last Monday was tougher than most. After being on sick leave for two months, Mr. Pearson returned to work and promptly had to deal with an announcement that Valeant was under investigation by the Securities and Exchange Commission (SEC). The week before,… Read more »