Carol Jackson, CPA, CA Senior Manager, Tax & Advisory Services The Ontario government has recently launched an online Ontario Business Registry (“OBR”) portal for businesses and not-for-profits registered, incorporated, or licensed to carry on business in Ontario. There are over 90 different online services available through the portal, including Annual Return filings, registering a new […]
Anne Van Delst, CPA, CA, LPA Partner, Assurance & Advisory Services More and more businesses are beginning to re-open their offices as we begin to see some light at the end of the pandemic tunnel. Many business owners are simultaneously contemplating their future office needs. There are many things to consider in determining your office […]
The provincial government released their Fall Economic Statement on Thursday. Billed as a pre-election mini-budget to Build Ontario, the statement proposes a number of investments in infrastructure, health care and skilled trades, but very few income tax initiatives. No income tax cuts were made. The government is projecting a deficit of $21.5B for 2021-22, a […]
On October 21st, the federal government made a number of announcements about COVID-19 relief programs. Some programs are coming to end, new programs are being introduced and some programs have been extended. Here’s a summary of the changes. What’s Ending? The Canada Emergency Rent Subsidy (CERS) and the Canada Emergency Wage Subsidy (CEWS) are both […]
Deferred revenue (or unearned revenue) and deferred contributions (and/or restricted contributions) are likely among the most difficult concepts to understand in your financial statements, yet these amounts often significantly impact your results from operations.
Accounts payable and accrued liabilities generally are more problematic to capture completely in internal statements due to the number of estimates involved, or the delays in receiving information. Nevertheless they are as important as accounts receivable, if not more so.
All board members, including those involved with non-profit organizations, are held to a minimum standard of care and diligence when it comes to the finances of an organization. This is why, at a minimum, it is important for a non-accountant to understand what “accounts receivable” are on an internal financial statement. Check out our other articles on Financial Literacy.
Board members are often bored during the financial discussion or financial statement presentation at a meeting. If they are lucky, they have someone with a financial background as a treasurer or chair of the finance committee. This article addresses how the financial process of your organization should operate and how it impacts you because you share the responsibilities for ensuring that proper financial controls are in place.
By Casey Murray, CPA, CA, LPA, Principal Canada Recovery Hiring Program In their April budget, the federal government announced the creation of a new Canada Recovery Hiring Program (CRHP). Bill C-30, the Budget Implementation Act is now before parliament. CRHP benefits will be available retroactively to June 6th and will run until November 20th, 2021. […]
By Natalie Evans, CPA, CGA, LPA – Partner, Head of Assurance, Advisory Services Check out other articles on fraud prevention and detection: A Potential New Attack on Your Bank Account | New Canadian Standards for Review Engagements and Auditor Reporting Standards | Beware of Emails and Calls Claiming to be the Canada Revenue Agency The […]