One of the biggest Canadian business stories of the past week – if not the past year – has to be the announcement last week that Burger King and private equity firm 3G Capital are purchasing Canada’s favourite coffee chain, Tim Hortons. The price: a whopper-sized $12.5 billion. According to the National Post, the combined… Read more »
Posts Categorized: Accounting Principles
ICBC ordered to pay back millions to motorists, Accounting Error of over $100 million
Accounting error B.C. Transportation Minister Todd Stone says he is “angry” after learning that an ICBC (British Columbia Insurance Corporation) computer mistake led to billing errors totalling an estimated $110 million in optional insurance coverage. The Crown corporation estimates it owes its customers $36 million and an additional $3 million in interest for overcharging them…. Read more »
The Heartbleed bug dilemma
The Heartbleed bug dilemma: Disclosing a web problem also means alerting hackers Online Security Breach The Heartbleed software bug is not only one of the most serious online security breaches in recent memory, it has also demonstrated how difficult it is for websites to tell their customers whether they’re at risk or not. The Heartbleed revelation… Read more »
Tweed a new kind of Business!
From Chocolate to What! Feb 18, 2014 — When Hershey’s had a plant in Smiths Falls, Ontario, you could smell chocolate from miles away. But not a single chocolate bar has rolled off the line since the plant closed in 2008, one of six employers to leave the town at the same time. Now, Smiths Falls,… Read more »
Nortel patents at issue in suits against Google, Huawei
The group that owns thousands of patents for technology developed by defunct Canadian telecom company Nortel filed patent lawsuits Thursday against Google, Samsung, HTC and Huawei. Rockstar, an Ottawa-based company that is co-owned by Apple, Microsoft, BlackBerry, Ericsson and Sony, claims that protected Nortel technology underlies some of Google’s search technology. Rockstar bought the portfolio… Read more »
Why intangible assets are as important as bricks and mortar
Managing your intangible assets can make your business more successful Coca-Cola Secret Formula Coca-Cola is bottled at nearly 300 plants around the world, where the soft drink is manufactured, packaged, merchandised and distributed. These third-party bottlers ship Coke to the company’s customers — grocery stores, restaurants, street vendors, convenience stores, movie theatres and amusement parks… Read more »
MD&A (Management Discussion & Analysis)
MD&A (Management Discussion & Analysis) – Counterpart to or Distraction from Financial Reporting Introduction The MD&A is an important component of a company’s reporting obligation. Intended to provide investors with more comprehensive information of financial outcomes, MD&A permits greater opportunity to present both short and long-term analysis. A study published by Contemporary Accounting Research indicated… Read more »
Going concern: When should the watchdog bark?
International accounting standards definition of Going Concern: ‘a going concern … will continue in operation for the foreseeable future … [and] … has neither the intention nor the need to liquidate or curtail materially the scale of its operations’ The purposes of the going concern assessment: To determine whether the financial statements give a true… Read more »
Procurement Fraud, Are You Prepared?
As accountants and financial directors we need to be aware that:Pressures and incentives, opportunity, and rationalization is a common human element which management must be aware of. Abuse within the procurement cycle (Purchasing Dept.) is common and can be damaging, from the magnitude of potential monetary losses to the reputational damage that can come from a… Read more »
Accounting Standards for Private Enterprises (ASPE) or (IFRS)
Canadian Private Enterprises will soon need to make a choice Canadian publicly accountable enterprises will be required to use International Financial Reporting Standards (IFRS) for fiscal years beginning January 1, 2011. What about Canadian private companies? Canadian Private companies will have an option to adopt one of the two following sets of standards: International Financial… Read more »
Burnley Understanding Financial Accounting, 3rd Canadian Edition
Kimmel Financial Accounting, 8th Canadian Edition
Weygandt Accounting Principles, 9th Canadian Edition
Kimmel Survey of Accounting, 2nd Edition
Kieso Intermediate Accounting, 13th Canadian Edition
Weygandt Managerial Accounting, 6th Canadian Edition
Farmer Cost Accounting, 1st Edition
Savage Accounting Information Systems, 1st Edition