Bitcoin: Be prepared for the rise of digital currency

Posted by & filed under Advanced Accounting, Canadian Economy, Currency, International Business Operations.

One bitcoin is worth $720 Cdn Each day, Lorne Lantz buys his lunch with bitcoin. Some say the burgeoning digital currency has no real value — but his sandwiches say otherwise. Cryptocurrency? Bitcoins and other “cryptocurrency” have started to rise from the fringes of the internet to the cusp of mainstream use — a remarkable… Read more »

Super Bowl commercials 2014: This year’s best , Expense or Capitalize Advertising Costs?

Posted by & filed under Advanced Accounting, Cost Accounting, Intermediate Accounting.

Who won the ad game during Super Bowl 2014? Millions gathered around television sets Sunday evening to watch the Seattle Seahawks take down the Denver Broncos in an easy 43-8 victory, but for many of those revellers the outcome of the game was secondary to the annual crop of splashy, big-budget Super Bowl ads. Commanding… 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 »

Google stock breaks $1,000 barrier

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

Google stock breaks $1,000 barrier Strong third-quarter results have sent Google’s stock past the $1,000 US mark for the first time. Shortly after the markets opened Friday, Google Inc. shares jumped more than 12 per cent to $1,007.40 US in heavy trading before edging back down to $1,000 later in the morning.  The Nasdaq-listed stock… Read more »

Managing the message: Canada’s new anti-spam law sets a high bar

Posted by & filed under Accounting Careers, Advanced Accounting, Canadian Economy, Corporate Restructuring.

Managing the message: Canada’s new anti-spam law sets a high bar New laws target electronic communications Canada’s Anti-Spam Law  (CASL), expected to come into force in 2013, will be one of the toughest of its kind in the world. Texts, tweets, Facebook posts and emails will all fall under its purview. In fact, CASL and… 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 »

Accounting Standards for Private Enterprises (ASPE) or (IFRS)

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

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 »

The Future of Private Company Reporting?

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

IFRS( International Financial Reporting Standards)  for SMEs (Small Medium Enterprises) is a separate comprehensive set of standards for non-publicly accountable entities that is the result of a five-year development process with extensive consultation with SMEs worldwide. It simplifies many of the principles in full IFRSs for recognition and measurement, omits topics not relevant to SMEs,… Read more »