Big charities merge

Posted by & filed under Accounting Principles, Advanced Accounting.

Description: We often hear of corporate mergers in reading the financial press. But it’s not every day that we hear of the merger of two large charitable organizations. That did happen this past week, however, when the Canadian Cancer Society and the Canadian Breast Cancer Foundation joined forces. With declining revenues, the merger will help… Read more »

Air Miles reduction

Posted by & filed under Accounting Principles, Corporate Social Responsibility.

Description: Many consumers carry that little blue Air Miles card in their wallets, racking up points at retail stop, gas stations and service providers. But  Air Miles has reduced the redemption value of the points bank for some vacations, causing angst with Air Miles collectors. Allison Peters decided to book a trip to Mexico, only… Read more »

Sarah Davis rewarded

Posted by & filed under Accounting Principles.

Description: She saw the company through a rough spot. And now Loblaws has rewarded Sarah Davis and named her as president of the huge grocer. Davis has been described as strong with both operations and the numbers side of the business. One of her challenges may be continuing to integrate the Shoppers Drug Mart acquisition,… Read more »

Doctors heading south?

Posted by & filed under Accounting Principles, Personal Tax.

Description: Doctors are warning that specialists may flee this country for the United States in the face of changing Canadian tax regulations. Canada’s March 2016 budget promised changes that would block certain partnerships and corporations from accessing the small business tax rate. Physicians initially thought that the government had simply swept their group up into… Read more »

Harris painting hits new heights

Posted by & filed under Accounting Principles, Accounting Theory, Taxation.

Description: This week art markets saw a new record auction price for a Canadian painting. Lawren Harris’s 1926 work, Mountain Forms, attracted a winning bid of $11.2 million, far more than the anticipated $3 million to $5 million. The buyer remains anonymous. Date: November 24, 2016 Source: cbc.ca Link: http://www.cbc.ca/news/entertainment/lawren-harris-mountain-forms-auction-1.3864470   Discussion Points: 1) The… Read more »

Westjet: Flying high with low fares

Posted by & filed under Accounting Principles.

Description: Despite increasing competition from newer low fare airlines such as NewLeaf Travel Co. Inc. and Canada Jetlines Ltd., Westjet Airlines reported third quarter earnings of $116 million this week. Westjet intends to continue its strategy of being a low cost provider in the face of this competition. The airline also noted it is looking… Read more »

Big cuts at Bombardier

Posted by & filed under Accounting Careers, Accounting Principles.

Description: Bombardier announced this week that it’s cutting about 10% of its workforce. This is around 7,500 jobs in total, with about 2,000 or so of those at home here in Canada. CEO Alain Bellemare cited competitive pressures as prompting these cuts. Two-thirds of this latest round of layoffs will hit Bombardier’s rail division. Date:… Read more »

Samsung’s woes

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

Description: Not so long ago Samsung’s Galaxy Note 7  launch was met with claims of ‘phone to beat’ status from Cnet.com. The past few days, however, have been unfriendly times for Samsung’s Note 7 with multiplying accounts of phones on fire. The latest blow:  airlines banning the planes from flight. Combined with news of Samsung’s… Read more »

Good time to cut the debt

Posted by & filed under Accounting Principles, Financial Accounting.

Description: The general theme is that things have been tough for the last little while in the oil patch. But some companies with cash to spare have been taking advantage of the downturn to repurchase their own bonds at “60 cents on the dollar.” Companies like Encana and Repsol SA are reducing their long-term debt… Read more »

‘Investing’ in that deficit?

Posted by & filed under Accounting Principles, Canadian governments.

Description: This past week Justin Trudeau’s government released its first budget, showing a planned deficit of nearly $30 billion for the next fiscal year. While Finance Minister Bill Morneau spoke of “investments in the future of Canada,” the Opposition drew attention to the fact that the deficit far outstripped the $10 billion figure Mr. Trudeau… Read more »