The fraud perpetrated by employees, top management, or third parties is a vital risk and threat to any business that should be properly addressed.
“We are only tenants, and shortly the great Landlord will give us notice that lease has expired” – Joseph Jefferson. Overview The IASB published IFRS 16 Leases in January 2016 with an effective date of January 1, 2019. The new standard will replace existing IAS 17 rule and will require lessees to recognize nearly all[…]
Preparing your annual tax returns is always considered a tedious task, however knowing the changes is very crucial and allows you to be proactive for the upcoming year.
Background The Carbon Levy came into effect January 1st, 2017 and will be charged on all fuels that emit greenhouse gas emissions at a rate of $20/tonne in 2017 and $30/tonne in 2018. Fuels include diesel, gasoline, natural gas and propane. The amount of Carbon Levy applied to each fuel is based on the amount[…]
“Action is the foundational key to all success.” — Pablo Picasso According to the study done by the Royal Bank of Canada, one in four business owners who are at the age of 50 of small and medium-sized business want to sell their business within the next five years. Unfortunately, 77 percent of owners do not[…]
We would like to refresh your memory with the Corporate Rates. As we remember previous year brought us a new federal government, which also brought us some tax changes. Some of the taxes are more technical in nature. The federal general tax rates are unchanged and remain at 15% for 2016. However, some provincial general,[…]
When a business owner of a small to medium business is searching for best accounting software, he or she is looking for the user-friendly and inexpensive solution. Let’s look at available cloud-based apps that today’s market can suggest us today. QuickBooks Online Overall the best software for business is QuickBooks Online. It starts from $10/monthly,[…]
IFRS 15, Revenue from Contracts with Customers was issued in May 2014 and replaces IAS 11 Construction Contracts, IAS 18 Revenue and various interpretations. IFRS 15 establishes a single model of accounting for revenue arising from contracts with customers. IFRS 15 requires entities to recognize revenue reflecting the transfer of goods or services to customers[…]
Laws control the lesser man… Right conduct controls the greater one. Mark Twain The Ancient Egyptians Measurement has been a necessity for many centuries in order to facilitate not only commerce but also everyday life. The ancient Egyptians were amongst the pioneers of this and as early as the 4th and 3rd millennia BC[…]
To improve is to change; to be perfect is to change often. (Winston Churchill) If it is not broken why fix it? – Is this practical or a myth? We have all heard about the theory of “survival of the fittest”, which is applicable for humans, animals and businesses. This theory has stood the[…]