Future projects will tackle the "face of the financial statements," focusing on improving the organization of the statements of financial performance, cash flows and financial position.

British Columbia's Money Judgment Enforcement Act promises to revolutionize debt collection by creating a centralized registry and empowering civil enforcement officers with expanded seizure authority. While the 2023 legislation was expected in 2025, creditors and debtors alike need to understand how these sweeping changes will transform the enforcement landscape once implemented.

When a judgment debtor owns personal property such as vehicles, equipment, or valuable items, creditors can pursue seizure and sale through a bailiff to satisfy outstanding debts. This collection method involves investigating assets, physically seizing property, and auctioning goods to recover judgment amounts, though certain restrictions apply to protect basic necessities and lower-value items.

Generally, it is required for sole proprietorships and partnerships to use a calendar year-end. In contrast, corporations, other than professional corporations are able to select the month-end which best suits their business.

Upon hearing the word BUDGET most people begin to frown. This is not surprising as budgeting can be an overwhelming task for some people, but it does not have to be.

Health can be defined as the overall human well-being of body and mind

We're bringing back some great articles to help you and your business. We hope you enjoy!

As an owner of a business, your company's books and financial statements represent a score sheet which tells how you are progressing, as well as an early warning system which lets you know when and why the business may be going amiss.

During times of economic uncertainty, one might expect that an entity would have fewer accounting issues to consider because activity levels often decrease.

British Columbia businesses holding money judgments face practical challenges in enforcement while awaiting the new Money Judgment Enforcement Act. Understanding the current tools available—from garnishment and asset seizure to property liens and debtor examinations—can mean the difference between successful recovery and uncollectible debt.

Approximately one year ago the Business Practices and Consumer Protection Act (the "Act") was proclaimed into force. The Act imposed new restrictions on creditors and debt collectors’ ability to obtain consumer credit reports and prohibited certain debt collection practices.

Business valuations are required for a variety of purposes, ranging from notional valuations to open market acquisitions and divestitures.

IFRS 9 Financial Instruments introduces major accounting changes for financial assets that are likely to significantly impact the financial statements of credit unions and other lending organizations, such as leasing companies.

Where there is a financing of a multinational group of affiliated corporations, it is becoming more common to have the indebtedness issued by several of the affiliated corporations as co-issuers, in which case there are various tax issues to address.

Adjusting EBITDA for non-recurring items, determining a maintainable level of EBITDA and selecting an appropriate discount rate are some of the key challengers a business valuator faces when valuing a company.

I often have people referred to me say, "I want to get my business valued. What will it cost?" That's a fair question.

CSA Staff Notice 52-306 (Revised) – Non-GAAP Financial Measures was issued in August of 2006. Its purpose is to provide greater guidance regarding the CSA’s views on disclosure of non-GAAP financial measures, including forward-looking non-GAAP financial measures.

As wedding costs in Canada soar between $30,000-$42,000, many couples face difficult financial decisions about celebrating their love. This guide explores practical strategies...

The Office of the Superintendent of Financial Institutions ("OSFI") recently released for comment a draft of a new Guideline B-10 – Outsourcing of Business Functions. The new Guideline will apply to federally regulated financial institutions such as banks and insurance companies, subsidiaries and parent companies of such institutions, and foreign financial institution branches, as well as bank holding companies (collectively, for the purposes of this bulletin, "FRFIs")

If you are not independently wealthy, and perhaps even if you are, eventually you will probably need to obtain some outside capital for your business.