Lynx Airlines Shuts Down

Posted by & filed under Accounting Careers, Financial Reporting and Analysis, Student life.

Description: Low-cost carrier Lynx Airlines announced it would be shutting down February 26. Lynx informed its passengers travelling on later dates that they should seek refunds through their credit card provider rather than from Lynx. The discount airline got off the ground in 2022, but it blames such forces as inflation, high fuel cost, exchange… Read more »

Heroes to Zeroes

Posted by & filed under Ethics, Financial Reporting and Analysis, Marketing & Strategy.

Description: Heroes to Zeroes – that’s the message of the sign carried by Gig Workers United’s Brice Sopher during a demonstration by Uber and Lyft drivers at Toronto’s Nathan Phillips Square, part of a coordinated Valentine’s Day effort in Canada, America, and the United Kingdom. The workers are looking for better wages and benefits following… Read more »

First Netflix; Now Prime

Posted by & filed under Financial Reporting and Analysis, Student life.

Description: Say “so long” to the good old days of commercial-free viewing on Amazon Prime. The streaming giant announced that starting Monday, clients will start seeing commercials unless they cough up an added fee of $2.99 each month. Bloomberg’s Geetha Ranganathan notes that “It’s very difficult in the streaming world to make money.” This streaming… Read more »

No More Extensions

Posted by & filed under Accounting Careers, Financial Reporting and Analysis.

Description: Prime Minister Justin Trudeau has said that the time is up and there will be no more extensions for those business who had borrowed money under the Canada Emergency Business Account (CEBA). During the Covid-19 lockdown days, the federal government offered eligible businesses and not-for-profit agencies up to $60,000 in loans to help ride… Read more »

Falsifying Business Records

Posted by & filed under Ethics, Financial Reporting and Analysis.

Description: One of the biggest news items this past week had to be the indictment of former US president Donald Trump in a New York City courtroom. Though there was lots of debate about the event, from an accounting perspective, the interesting notion is that the charges revolve around the falsification of business records. One… Read more »

Good Times at Dollarama

Posted by & filed under Financial Reporting and Analysis, Student life.

Description: Inflationary times have been good times for Dollarama. The rising cost of living has driven customers Dollarama’s way in a search of savings, pushing sales figures about 17 percent higher than in the previous fiscal year. Profits are also up, prompting the discount retailer to pump up the quarterly dividend to its shareholders. Date:… Read more »

Corporate Welfare Billions

Posted by & filed under Canadian governments, Financial Reporting and Analysis.

Description: Several media reported this week on a recent Fraser Institute study on the extent of corporate welfare in Canada. The various business subsidies “come with huge costs to government budgets and taxpayers while doing little if anything to stimulate economic growth,” according to Tegan Hill, a co-author of the report. From 2007 through 2019,… Read more »