Big Boat Stuck

Posted by & filed under Financial Accounting.

Description: It’s a big boat stuck in a relatively small space. The Ever Given, a huge vessel with a length stretching over 70% of the height measurement of the CN Tower, has been stuck in the Suez Canal since March 23. This has been causing headaches for many as the Ever Given has shut down… Read more »

Rogers/Shaw Deal

Posted by & filed under Financial Accounting, Student life.

Description: It’s a huge deal. Rogers Communications is proposing to buy rival Shaw Communications in a deal worth $26 billion. The marriage of these two large broadcast and cellular empires will drastically change the landscape in an area where consumers often talk about high rates and a lack of competition. Perhaps it is not surprising… Read more »

Skip the Tickets

Posted by & filed under Accounting Careers, Financial Accounting.

Description: Skip the tickets; at least that seems to be the practice of many Canadians and our companies when it comes to paying their fines. So says an investigation by CBC News, one that shows the provinces and the territories are owed $1.3 billion in fines and penalties. The amounts owing include $5 million in… Read more »

Tax on Pop

Posted by & filed under Financial Accounting, Student life.

Description: British Columbia is moving to tax sugary soft-drinks starting on April 1. The provincial sales tax will also apply to the drinks carrying other natural or artificial sweeteners. Vaping supplies will also come under this tax initiative, and, streaming services like Netflix will be required to collect provincial sales tax if they do more… Read more »

HBC Lays Off 600

Posted by & filed under Financial Accounting.

Description: The Hudson’s Bay Company, Canada’s oldest company, has announced the permanent layoff of 600 employees. With the pandemic’s negative effect on traditional retailers, and with half of its stores shuttered for now, the Bay appears to have taken this move to reduce costs. One thing that concerns HBC is that big box retailers –… Read more »

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 »