Description: Almost 40% of Canadians owning homes have found themselves in some sort of cash flow crisis in the preceding year according to a recent Globe and Mail report. Increasing house prices might explain why Canadians are reaching out to relatives or loading up the credit card to get through a tough spot in paying… Read more »
Posts Categorized: Canadian Economy
Drilling off Nova Scotia
Description: Shell has been given permission to begin test drilling offshore of Nova Scotia. Shell told the regulator that it would be able to have capping technology available in event of a blowout in 12 to 13 days, versus its previous statement that it would take 21 days to bring the technology to a well…. Read more »
The state of Canadians’ finances
Description: With interest rates so low for so long, consumers in Canada have been loading up on debt. Debt to disposable income rates in Canada hit close to 165% this year, indicating consumers are adding to their debt loads faster than incomes are rising. At least part of the problem can be attributed to a… Read more »
Budget balancing
Description: The federal government released its budget this week, with a planned surplus of over a billion dollars. One of the tax measures for Canadians was an increase in tax free savings account limit to $10,000 per year. There were also changes in the small business tax rate. Source: thestar.com Date: April 21, 2015 Link:… Read more »
Shopify to go public
Description: Ottawa area tech company Shopify is getting set to go public, perhaps helping to put some lustre back on Canada’s tech image after well-publicized problems at Blackberry and Nortel. The initial public offering is expected to raise in the range of $100 million for the company. Shopify provides an internet platform that retailers can… Read more »
Taxes and democracy
Description: A new film, The Price We Pay, is bringing to us the European debate about how to handle huge companies that use tax havens to shift billions in profits offshore. Companies like Starbucks and Amazon have already seen pressure on this issue. The film questions whether some of the tax havens may have received… Read more »
Selling off Hydro One
Description: Premier Kathleen Wynne has now joined the list of three previous Ontario premiers who have proposed selling of Hydro One, the provincially owned electric utility. With a probable value in excess of $15 billion, Hydro One may be an attractive target for privatization. The Premier sees the funds generated from sale of this Crown… Read more »
Mega-rich like Toronto
Description: According to a report released on March 5 by real estate consultants Knight Frank, Toronto ranks among key cities for the Mega-rich. Those with lots of money apparently see much that is attractive in Canada’s most populous city. Meanwhile, Sotheby’s International Realty Canada suggests that Toronto will continue to lead the luxury real estate… Read more »
Job quality heading south
Description: More Canadians are becoming self-employed. And wages of those employed seem to be falling. A study by the Canadian Imperial Bank of Commerce shows rather alarming trends in measures of job quality, looking at data from a 25 year span. Source: Globe and Mail.com Date: March 5, 2015 Link: http://www.theglobeandmail.com/report-on-business/economy/job-quality-in-canada-sinks-to-all-time-low-cibc-index-shows/article23303996/ Discussion Points: 1) How… Read more »
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 »
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