Description: Two anonymous 19th century Canadian paintings sold last Wednesday in London for a lot price of close to $1 million. This was over a dozen times Christie’s original estimate of what the lot might attract. A representative of Christies auctioneers was obviously “thrilled.” Source: Globeandmail.com Date: April 1, 2015 Link: http://www.theglobeandmail.com/arts/art-and-architecture/paintings-netting-nearly-1-million-set-new-benchmark-in-canadian-art-sales/article23757063= Discussion Points: 1)… Read more »
Posts Categorized: Accounting Theory
Who’s the boss?
Description: Doug McGregor, head of RBC’s capital markets operation, earned $13.25 million in 2014. That’s a pretty fair payday, no doubt. But one of the surprising things about it is that it outstripped the pay of his boss, RBC CEO Dave McKay. According to proxy circulars, at the other Canadian banks pay for their heads… Read more »
Costco beats Walmart
Description: Costco – the huge warehouse style retailer – beat Walmart and Target in sales growth in the most recent quarter. Costco was up over 8% versus about 1.5% for Walmart and 3.2% for Target. Perhaps in a bit of a surprise though, Costco shares fell about 0.1%. Source: Globe and Mail.com Date: March 5,… Read more »
Europe and deflation
Description: In December, Europe officially entered the deflationary zone, with a 0.2 per cent drop in the consumer price index. The European Central Bank is being pressured to respond to this situation. A deflationary environment, if it persists, can be very damaging if people begin to expect a future of declining prices. Source: Globe and… Read more »
Full disclosure; still waiting
Description: Canadian banks have improved their disclosures since the financial crisis. But these improvements may not have gone far enough. For instance, many investors may know that bankers have lobbied our federal government concerning its attention to transaction fees on credit cards. Yet, because of the banks’ disclosure practices, many of these same investors would… Read more »
What ever happened to peak oil?
Description: Not so long ago, it seems, we were hearing all kinds of talk of peak oil. Speculation abounded on what this might mean for oil prices and their impact on economic prosperity. But now, in spite of various international crises, world oil prices are in decline. Oil prices have hit a two year low amid… Read more »
King of the bonds loses kingdom
Description: Bond King Bill Gross has resigned from the firm he founded. Gross left Pimco – Pacific Investment Management Co. – after a number of months of apparent internal struggles. Gross had been the face of the firm for over thirty years. But now his pictures have disappeared from the company website. The firm’s new… Read more »
Having their say on pay
Description: Shareholders are beginning to flex a bit more muscle in Canada when it comes to executive compensation. In short, a recent survey of shareholder voting at some of Canada’s largest companies shows that voters may be aligning executive pay with return to shareholders. Source: Globe and Mail.com Date: September 7, 2014, last updated September… 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