accounting
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Federal Court of Appeal allows use of mark-to-market tax accounting
Taxpayers are entitled to use the mark-to-market method to compute income for federal tax purposes if it provides a more accurate picture of a taxpayer’s income, ruled the Federal Court of Appeal. The federal appeal court decision bolsters the possibility for taxpayers to use methods to compute income that are not forbidden by the Income… Continue reading
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Do jail sentences deter future white-collar crimes?
“Jail sentences do not deter future white-collar crimes. What discourages future white-collar criminals is the fear of getting caught, not the length of sentence,” according to an accounting professor. Continue reading
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Four more found guilty in Mount Real investment scandal
Three more individuals linked with the bankrupt Montreal financial group Mount Real Corp. were recently condemned… Continue reading
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Scrambling to convert to IFRS
When the Canadian Securities Administrators issued a staff notice during the summer that all registrants regulated directly by Canadian securities regulatory authorities would be required to prepare financial statements using International Financial Accounting Standards beginning on January 1, 2011, it literally set off a scramble. Continue reading
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Canada’s longest trial again in the news
Nearly 15 months after the Quebec Court of Appeal griped about the legal war of attrition that has lasted more than a decade in the case against a former accounting giant and its partners over the infamous collapse of Montreal real-estate firm Castor Holdings Inc., the highest court of the province recently dismissed yet another… Continue reading
Categories: Accounting, Quebec, Quebec Court of Appeal, Quebec Superior Court, Rulings, White-collar crimes