Bitcoin for your paycheque?

Posted by & filed under Accounting Principles, Advanced Accounting.

A CBC News story from September 1, noted  how a a small  – but increasing – number of employees are beginning to accept the online quasi-currency Bitcoin as payment for their wages. This is evidence perhaps of the growing acceptance of Bitcoin by merchants and the increasing discussion of  Bitcoin currency exchanges. Bitcoin began in… Read more »

Welcome back to school; and welcome to more debt

Posted by & filed under Accounting Careers, Accounting Principles, Canadian governments, Student life.

Where did the summer go? That might be one of the questions both students and parents are asking themselves as students head off to campus  for another year of university. Along with meeting friends – old and new – registering for classes, buying textbooks and engaging in extracurricular activities, students are buzzing around campuses already,… Read more »

Whopper of a deal: Burger King pays billions for Tims

Posted by & filed under Accounting Principles, Advanced Accounting, Canadian Economy.

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 »

ICBC ordered to pay back millions to motorists, Accounting Error of over $100 million

Posted by & filed under Accounting Principles.

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

Posted by & filed under Accounting Principles, eCommerce.

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!

Posted by & filed under Accounting Principles, Advanced Accounting, Canadian Economy, Financial Accounting.

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

Posted by & filed under Accounting Principles, Advanced Accounting, Financial Accounting.

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

Posted by & filed under Accounting Careers, Accounting Principles, Financial Accounting, Intermediate Accounting.

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)

Posted by & filed under Accounting Principles, Financial Accounting, Financial Statement Analysis, IFRS, MD&A.

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?

Posted by & filed under Accounting Principles, Advanced Accounting, Auditing, Financial Accounting, Financial Reporting and Analysis, IFRS.

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 »