Description: Hudson’s Bay Company is going beyond the retail sales stream in an effort to add value to its business. The company announced it has entered into joint ventures, one with an American company and the other here in Canada, in an effort to cash in on value locked in its real estate assets. The… Read more »
Posts Categorized: Advanced Accounting
Pension woes
Description: Interest rates continue to fall, signalling bad times for pension funds and pension recipients. As rates fall, the present value of the liabilities in defined benefit pension plans increase. An increase in liablities, often means that a company must contribute more cash to the pension plan. Source: Globe and Mail.com Date: February 20, 2015… Read more »
Target’s compensation timing
Description: In yet another story on Target’s decision to leave Canada, regulatory filings have revealed that a number of executives and board members received in total 113,298 performance share units on the same day the board voted to end the Canadian experiment. Although the timing of the compensation appears to be consistent with Target’s established… Read more »
Financing public infrastructure
Description: On Tuesday, January 13, the Quebec government announced that the provincial pension fund, the Caisse de dépôt et placement du Québec, would make a $5 billion investment in the province’s transportation network. The pension fund will provide both the financing and the management for these assets. This mixing of political and pension goals may… Read more »
Life insurance and macadamia nuts
Description: When you think of Manulife Financial Corp, you probably think of life insurance. But you may be surprised to learn that the company has diverse investments ranging from timber to renewable energy to macadamia nuts. A broader range of investments helps the company compete in the wealth management business while offering growth potential. Source:… Read more »
Canada Post posts profits
Description: A few months ago, Canada Post was crying poor, predicting it would lose over $270 million before taxes. In this climate of loss, Canada Post announced an end to home delivery of mail in an effort to cut costs. This past week, however, Canada Post announced it has income of over $80 million for… Read more »
Jack Johnson’s Woes
Description: Hockey star Jack Johnson is reportedly bankrupt. Despite earning roughly $18 million over his career, it appears that bad advice – and perhaps some misadventures by his parents – have led to his financial downfall. Johnson claims to have secured a new team of advisers to assist him in sorting his way out of… 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 »
Big banks busted
Description: Following on the heels of the Libor scandal (in which banks were found out for manipulating short term interest rates), on Wednesday documents disclosed that six large banks were fined $4.3 billion (yes, that’s billion with a “B”) for manipulating the foreign exchange market. Additional fines and civil suits could keep this nasty story… Read more »
Are Insurers Prepared?
Description: The Ceres’s Insurer Climate Risk Disclosure Survey has shown that insurers are not properly prepared for the risks and opportunities that accompany climate change. Storm frequency and intensity is on the upswing. But the survey, covering over 300 companies and roughly 90% of the insurance premiums in the United States, shows that many insurers are not… 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