Who won the ad game during Super Bowl 2014? Millions gathered around television sets Sunday evening to watch the Seattle Seahawks take down the Denver Broncos in an easy 43-8 victory, but for many of those revellers the outcome of the game was secondary to the annual crop of splashy, big-budget Super Bowl ads. Commanding… Read more »
Posts Tagged: Financial Accounting Standards
Nortel patents at issue in suits against Google, Huawei
The group that owns thousands of patents for technology developed by defunct Canadian telecom company Nortel filed patent lawsuits Thursday against Google, Samsung, HTC and Huawei. Rockstar, an Ottawa-based company that is co-owned by Apple, Microsoft, BlackBerry, Ericsson and Sony, claims that protected Nortel technology underlies some of Google’s search technology. Rockstar bought the portfolio… Read more »
What does an Integrated Report look like?
Integrated Reporting One of the distinguishing features of Integrated Reporting is that in contrast to compliance based reporting, there can be no model report – every report must be built around the unique business model of the preparer. The typical Annual Report: The typical Annual Report includes the Financial Statements, Corporate Responsibility , The Management… Read more »
Going concern: When should the watchdog bark?
International accounting standards definition of Going Concern: ‘a going concern … will continue in operation for the foreseeable future … [and] … has neither the intention nor the need to liquidate or curtail materially the scale of its operations’ The purposes of the going concern assessment: To determine whether the financial statements give a true… Read more »
Unification of the profession: The New CPA Designation Certification Program
Framework to unify the Canadian accounting profession On January 17, 2012, the Canadian Institute of Chartered Accountants (CICA), the Certified Management Accountants of Canada (CMA Canada) and the Certified General Accountants of Canada (CGA-Canada) presented members with a framework to unify the Canadian accounting profession. The Unification Framework includes details of a transition to a… Read more »
Accounting Standards for Private Enterprises (ASPE) or (IFRS)
Canadian Private Enterprises will soon need to make a choice Canadian publicly accountable enterprises will be required to use International Financial Reporting Standards (IFRS) for fiscal years beginning January 1, 2011. What about Canadian private companies? Canadian Private companies will have an option to adopt one of the two following sets of standards: International Financial… Read more »
Canadian Audit Committee Update: Evolving issues for 2010
Audit Committee Evolving Issues focuses on communicating to stakeholders about the impact of adopting IFRS. Today’s changing business and economic conditions provide an opportunity for the audit committee to reassess its priorities and refocus its agenda. The purpose of the Audit Committee is to strengthen the integrity of the financial reporting process and the quality… Read more »
The concept of Bankruptcy!
The concept of bankruptcy is difficult to grasp and understand. Often the causes are due to Greed , Economic Conditions or Mismanagement. In essence Bankruptcy is a capitalistic concept-it is the loss of capital, an inability to pay a person’s or company’s creditors. Accounting is a tool that provides information to management, to identify the potential… Read more »
International Financial Reporting Standards (IFRS) Background
Background Origins of IFRS A single set of global accounting standards has been under development for over three decades since the International Accounting Standards Committee (“IASC”) was first established in 1973. It wasn’t until 2005, with the advent of the European Commission’s requirement for public companies reporting within the European Union (“EU ”) to prepare… Read more »
New Revenue Recognition Standards on the Way for Contractors
Contractors should be educating themselves on the impact of the new proposed revenue recognition standards and the recently published (June 24, 2010) exposure draft pertaining to revenue from contracts with customers. Public comments are due October 22, 2010, and it is expected the standards will be finalized in 2011. Questions: 1. What are some of… Read more »
Burnley Understanding Financial Accounting, 3rd Canadian Edition
Kimmel Financial Accounting, 8th Canadian Edition
Weygandt Accounting Principles, 9th Canadian Edition
Kimmel Survey of Accounting, 2nd Edition
Kieso Intermediate Accounting, 13th Canadian Edition
Weygandt Managerial Accounting, 6th Canadian Edition
Farmer Cost Accounting, 1st Edition
Savage Accounting Information Systems, 1st Edition