“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, […]

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 […]

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, […]

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 […]

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 […]

“Life is a series of natural and spontaneous changes. Don’t resist them – that only creates sorrow. Let reality be reality. Let things flow naturally forward in whatever way they like.” Lao Tzu IFRS 9, Financial Instruments The final version of IFRS 9, Financial Instruments, was issued by the International Accounting Standards Board (IASB) in […]

Human beings have a natural tendency to remember good times and push to the back of their minds some more difficult issues in life. Basically most of us have a tendency not to focus on things that are not perceived to be likely to happen in the short term and can overlook the inevitability of […]

Need to know on Personal tax for 2015 and 2016

“…but in this world nothing can be said to be certain, except death and taxes.” Ben Franklin 2015 Personal Tax return You are not necessarily need to be an expertise on taxation but knowing key areas will be always beneficial to have educated discussion with your tax consultant. Following are the key updates that happened […]