Delinquency up in Alberta

Posted by & filed under Accounting Careers, CPA.

Description: According to the credit rating agency, Equifax Canada, Albertans have the highest debt levels of all Canadians. What’s more, delinquencies are up over 25% from the previous year. Perhaps this delinquency stat should be of no surprise, given the price decline in oil and its related negative impact on employment in the oil patch…. Read more »

Canada loses 29,000 jobs in April

Posted by & filed under Canadian Economy.

 Canadian Economy Canada’s economy shed 29,000 jobs in April but the employment rate stayed flat at 6.9 per cent.Fewer people looking for work caused the jobless rate to stay the same, Statistics Canada said Friday. Economists had anticipated an increase of 12,000 jobs for April, according to Thomson Reuters. “There has been little overall employment… Read more »

Francine Katz sues Anheuser-Busch for 20-year gender bias: Sex & Salary Discrimination

Posted by & filed under Accounting Careers.

Male only Corporate World? From male-only corporate jets to guys’ golf outings and hunting trips, Francine Katz says her time in the Anheuser-Busch executive suite was rife with exclusion, intentional slights and outright discrimination. In a 20-year career that saw her rise from a young corporate lawyer to a job as vice-president, key strategist and… Read more »

Do your homework before paying to get your taxes done

Posted by & filed under Accounting Careers, Taxation, Taxation & Planning.

From the time of my first job, I did my own taxes — first, with the guidance of my parents; then later on my own. I initially filed paper returns by mail and later joined the growing number of Canadians who use Netfile.  All that changed, however, about two years ago when my wife incorporated a business. We turned… Read more »

BlackBerry CEO John Chen on his turnaround strategy

Posted by & filed under Accounting Careers, Corporate Restructuring.

Steep drop in Revenue BlackBerry reported a steep drop in revenue and a widening loss as sales of its smartphones continue to slide. The smartphone maker says it lost $423 million US in the fourth quarter of fiscal 2014, as revenue for the three-month period fell to $976 million — a 64 per cent decline… Read more »

Tweed a new kind of Business!

Posted by & filed under Accounting Principles, Advanced Accounting, Canadian Economy, Financial Accounting.

From Chocolate to What! Feb 18, 2014 — When Hershey’s had a plant in Smiths Falls, Ontario, you could smell chocolate from miles away. But not a single chocolate bar has rolled off the line since the plant closed in 2008, one of six employers to leave the town at the same time.  Now, Smiths Falls,… Read more »

Tim Hortons plans 800 more restaurants

Posted by & filed under Accounting Careers, Advanced Accounting, Financial Accounting, Franchise.

   Increase in Tim Hortons Franchises Tim Hortons has laid out an ambitious plan to add 800 more franchise outlets by 2018, the latest shot in an escalating war to stay on top of the quick breakfast and coffee market. The TSX-listed company said Tuesday it will add as many as 300 new locations in… Read more »

Corporate tax evasion ‘crackdown’ more bark than bite

Posted by & filed under Accounting Careers, Canadian Economy, Corporate Restructuring, Corporate Social Responsibility, Fraud, Fraud Accounting, Taxation, Taxation & Planning.

Global efforts to stop companies from eroding tax base by moving profits offshore have no teeth, experts say Tax Evasion Tactics In December 2012, demonstrators led a country-wide protest against Starbucks over the coffee chain’s tax evasion tactics. A Reuters investigation found that through the magic of profit shifting, the company had avoided paying any… Read more »

Investing puzzle a hard one to solve (Tax Free Savings Accounts)

Posted by & filed under Canadian Economy, Taxation, Taxation & Planning.

Increase in savings by Canadians Recent data indicate that Canadians are saving more. Statistics Canada reports that the Household Savings Rate is currently 5.4%, a 0.4% increase from the previous year. Likewise, a recent BMO Bank of Montreal study found that 48% of Canadians are now investing in Tax-Free Savings Accounts (TFSAs), a 23% increase… Read more »

With Great Data Comes Great Responsibility

Posted by & filed under Accounting Careers, Fraud Accounting, Intermediate Accounting.

The risk of data to the forensic accountant & client The forensic accounting profession is ever changing and evolving. White collar criminals are finding new ways to commit fraud, and litigation matters are becoming more and more complex. In order to meet the needs of clients, forensic accountants are learning new skills and using new… Read more »