Canada Post posts profits

Posted by & filed under Advanced Accounting, Canadian Government.

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 »

Full disclosure; still waiting

Posted by & filed under Accounting Careers, Accounting Theory, Advanced Accounting, Canadian Government, Cost Accounting.

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 »

And speaking of corruption . . .

Posted by & filed under Accounting Careers, Auditing, Canadian Economy, Canadian Government, Ethics, Financial Reporting and Analysis.

Description: Canadian companies have been lobbying the federal government to delay implementing its new anti-corruption rules. Public Works and Government Services Canada has been threatening to de-list suppliers – including major names such as HP and Siemens – for up to 10 years because of convictions for corruption in foreign countries. Public Works points out… Read more »

Just in case

Posted by & filed under Accounting Careers, Canadian Government, Managerial Accounting.

Description: With oil prices continuing to head south, resource companies have to reconsider their capital plans. Recently, Canada Natural Resources Ltd (CNRL) announced that it may be required to revisit its over $8 billion capital budget in the face of these resource price declines. Investors threaten to punish energy companies that do not show themselves nimble… Read more »

Listening to the AG

Posted by & filed under Auditing, Canadian Government.

  Description: One  thing that emerged from reflection following the tragedy on Parliament Hill was an observation that the Auditor General of Canada had recommended changes to Parliamentary security in a 2012 report. The Auditor General had recommended one united security force for Parliament, but this, and other, recommendations had not been implemented yet. In… Read more »