Now That’s a Write-down

Posted by & filed under Financial Accounting.

Description: Exxon, the giant oil company, seems ready to write down between $17 billion and $20 billion in assets. With collapsing oil prices, Exxon’s natural gas deposits in the Americas are over-valued. About 10 years ago Exxon acquired XTO Energy for about $35 billion, and with it, XTO’s gas fields. In the rear-view mirror, one… Read more »

Is the Dome Coming Down?

Posted by & filed under Financial Accounting.

Description: Rogers Communications has contradicted some initial reporting that the Rogers Centre – the building originally called the Skydome – is not going to be torn down; well, at least not for now. Earlier on Friday the Globe and Mail reported the building would be razed. The notion was that Rogers and Brookfield Capital Management… Read more »

Rental Market Switch

Posted by & filed under Accounting Principles, Financial Accounting.

Description: The Toronto rental market is featuring an interesting switch in demand patterns. Younger renters were often prepared to put up with cramped apartments and high rents to live close to the action in the downtown. But with Covid-19 shutting down so much of the city’s social life in restaurants and bars, renters are heading… Read more »

Where Are They?

Posted by & filed under Accounting Careers, Financial Accounting.

Description: The federal government might well be asking the question “where are they?” when it comes to large Canadian companies seeking government assistance in this Corona world. In order to assist in the economic troubles associated with the virus, the government created the Large Employer Emergency Financing Facility (LEEFF) . But so far only about… Read more »

Found: Missing Painting

Posted by & filed under Financial Accounting.

Description: A painting by artist Jacob Lawrence, apparently missing for the last 60 years, was rediscovered recently on a good hunch from a visitor to the Metropolitan Museum of Art. When viewing an exhibit of a series of Lawrence’s paintings, the visitor took note of the empty spots on the wall where the missing paintings… Read more »

Changes at MEC

Posted by & filed under Financial Accounting.

Description: Lots of Canadians love their MEC – the Mountain Equipment Co-op. MEC’s stores and online outlets offer Canadians the opportunity for well-made and reasonably priced sport gear and clothing, as well making many Canadians shareholders of the co-op for a nominal fee. But the model no longer seems to be working well, and after… Read more »

Guitar Sales Rising

Posted by & filed under Financial Accounting.

Description: The corona virus pandemic has certainly been bad news for a lot of businesses. But the guitar industry has seen an impressive uptake in sales during this crisis. Fender says it is heading for a record sales year while Gibson is also enjoying a fine year. Date:  10 September, 2020 Source:  iheartradio.ca Link: https://www.iheartradio.ca/news/pandemic-boosts-guitar-sales-report-1.13463103… Read more »

Zoom With Care

Posted by & filed under Data security, Financial Accounting, Student life.

Description: Business, schools, and individuals have been quickly learning all about the Zoom, the software that has allowed many to link live with friends and colleagues during this time of social distancing. You should be aware, however, that hackers see Zoom as a new opportunity to mess with you and your data. The Toronto Star… Read more »

Google Buys Fitbit

Posted by & filed under Financial Accounting, Marketing & Strategy.

Description: Google’s parent company has purchased Fitbit for approximately $2.1 billion. This puts Google back into the wearables game as it squares off with Apple. Rumours of the purchase drove Fitbit shares up over 40% in the days preceding the sale, making it a nice week for Fitbit shareholders. Date:  October 28, 2019 Source:  cbc.ca… Read more »

Bad loans at ACOA

Posted by & filed under Financial Accounting.

Description: Ten percent or more of loans are in trouble at the Atlantic Canada Opportunities Agency (ACOA). That doesn’t sound like a very positive use of our taxpayer dollars. Banks typically have a loss rate of about one percent on business loans. Another federal government agency, the Business Development Bank of Canada, reports that only… Read more »