Description: In December the federal government brought in new regulations requiring the airlines to pay up to $1,000 in compensation to travelers hit by they canceled flights, other than for safety reasons of course. But customers are complaining that they haven’t been getting the refunds when they request them, and, further, they also haven’t been… Read more »
Posts Categorized: Accounting Principles
The Middle Class
Description: Did you hear the the Canadian government has given $50 million to MasterCard, a company that made $16 billion last year? The government response seems to be that this $50 million will create jobs and help the middle class. Of course, this new government has appointed a cabinet post for a minister of the… Read more »
Is This Time to Tame the Deficit ?
Description: Running federal deficits in good times may hurt Canadians in the long run according to HEC Montreal’s Centre for Productivity and Prosperity. Our Canadian government ran deficits from 2015 through 2018, and this may have lead to economic growth. Now, with no recession in sight, the latest financial update from the government indicated that… Read more »
Layoffs at Loblaws
Description: In last week’s blog, you may have read the piece describing research by the Canadian government, noting that AI may not be targeting as many jobs as feared. Don’t tell the workers at the Loblaws grocery chain warehouses: they may not believe you. Automation and consolidation of facilities will put about 800 workers on… Read more »
No Dividend This Quarter
Description: Other companies may be handing out their quarterly dividends, but not Westjet; at least not this quarter. Though the board had declared a dividend of 14 cents a share at an October meeting, the company is now bypassing the cash payment that was scheduled for December 31. Westjet has been purchased by Onex, and… Read more »
Beware Zombie Debt
Description: If you slip up, you could become a victim of zombie debt. What? Some debt is subject to a statute of limitations, meaning you can’t be taken to court to force payment after a certain period of time has passed. But if you acknowledge this debt after this period has passed, perhaps by responding… Read more »
Hidden in Tax Expenditures
Description: If a government plans to spend money through grants or other expenditures, it is normally clearly disclosed as part of the budget process. But there is another class of “hidden” expenditures known as tax expenditures, a combination of various measures that don’t show up in the financial statements. This week the New Brunswick government… Read more »
Still cleaning up
Description: Greenpeace is still out there cleaning up beaches as part of its annual survey of Canadian litter leaders. Once again, Tim Hortons and Nestle are leading – if one can call it that – the race as the top plastic polluter. Perhaps not surprisingly, Starbucks, McDonalds, and Coca-Cola are in the top five as… Read more »
The helium crisis
Description: You may find your voice doing funny things when you read this story: there’s a shortage of helium. This gas, that can change the pitch of your voice of course, is in short supply, and not for the first time. That bad news hits far more than those wanting inflated balloons. Helium gas, produced… Read more »
Fuel costs up; WestJet earnings down
Description: With fuel costs per litre up close to 40% over last year, WestJet’s latest earning report is not pleasant reading for shareholders. Profits are down this quarter. In addition to the fuel cost pressures, the threatened pilots’ strike in May probably impacted passenger bookings. And, like others in the industry, WestJet feels the intense… 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