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Live news: BlackBerry names new CEO, calls off Internet of Things IPO - Financial Post Dec 11th
Live news: BlackBerry names new CEO, calls off Internet of Things IPO Financial PostBlackBerry names new CEO, calls off plans for IPO of Internet of Things business Yahoo Canada FinanceBlackBerry names new CEO as company ditches connected-car IPO - but still plans to split in t.... More »
Court to rule Thursday in fight over release of real estate sold figures + MORE Aug 22nd
The Supreme Court of Canada said it will announce on Thursday morning whether it will hear an appeal from the Toronto Real Estate Board that would keep TREB's members from publishing home sales data on their password-protected sites..... More »
Want to Supersize Your Business? Buy Another Aug 3rd
The journey from idea to IPO is a difficult one. In this five-part series, we look at how founders scaled their startups and reached new milestones.
Robert Hyde realized he needed a new strategy.
“We can create new products, but it takes a lot of energy and effort to build and launch a produ.... More »
It’s probably time you switched banks—4 easy steps for Canadians + MORE Jun 28th
When you opened your first bank account, chances are it was with the same financial institution your parents used—because, why not? And given how loyal Canadians are to their banks, there’s a good chance you’re still banking with the same institution. In fact, 70% of Canadians held the sa.... More »
China coronavirus toll exceeds 1,300 as Hubei reports 242 deaths - Al Jazeera English Feb 12th
China coronavirus toll exceeds 1,300 as Hubei reports 242 deaths Al Jazeera EnglishCoronavirus news and live updates: Death toll surpasses 1,100 CNN InternationalJump in new coronavirus cases derails stock rally Investing.comWhy the world economy will be facing China.... More »
Canadian marijuana stocks have a serious accounting problem
– canadianbusiness.com
(Lars Hagberg/AFP/Getty)
Depending on your point of view, the burgeoning marijuana industry in Canada is either an unprecedented opportunity to rake in huge profits as recreational use becomes legal, or a speculative bubble that will eventually pop. When forensic accountant Al Rosen looks at the sector, he sees something else: “It’s a bloody mess,” he says.
Rosen is referring to the financial statements of the country’s publicly traded licensed producers. Accountability Research Corp., which Rosen runs with his son, Mark, is warning those statements are misleading and allow companies to overstate profitability. “Canadian reporting of marijuana growers sets a new low for integrity,” the Rosens wrote in a recent report. It’s not that companies are intentionally duping investors—though there is ample opportunity for that, the Rosens argue. Instead, companies are trying to apply already-vague accounting rules to a new industry. Companies have to put a value on their marijuana plants for accounting purposes, even though pricing and future demand are not yet known…
Depending on your point of view, the burgeoning marijuana industry in Canada is either an unprecedented opportunity to rake in huge profits as recreational use becomes legal, or a speculative bubble that will eventually pop. When forensic accountant Al Rosen looks at the sector, he sees something else: “It’s a bloody mess,” he says.
Rosen is referring to the financial statements of the country’s publicly traded licensed producers. Accountability Research Corp., which Rosen runs with his son, Mark, is warning those statements are misleading and allow companies to overstate profitability. “Canadian reporting of marijuana growers sets a new low for integrity,” the Rosens wrote in a recent report. It’s not that companies are intentionally duping investors—though there is ample opportunity for that, the Rosens argue. Instead, companies are trying to apply already-vague accounting rules to a new industry. Companies have to put a value on their marijuana plants for accounting purposes, even though pricing and future demand are not yet known…
US defends trade barriers as Davos braces for Trump – CTV News
– news.google.ca
CTV NewsUS defends trade barriers as Davos braces for TrumpCTV NewsDAVOS, Switzerland — The United States is committed to free and fair trade while bracing itself for possible retaliation from China over new tariffs, top U.S. Cabinet members said Wednesday, ahead of a much-ballyhooed visit by President Donald Trump …As the rich move into Davos, the cost of a hamburger platter hits $75Globalnews.caWorld Economic Forum Meets in Davos Under Shadow of Crisis and WarCenter for Research on GlobalizationMnuchin comment surprises financial markets, turns dollar decline into 'one-way bet'CNBCUSA TODAY -Daily Mail -Bloomberg -Christian Science Monitorall 582 news articles »
At the open: TSX falls as energy and financial shares weigh
– theglobeandmail.com
Wall Street starts at record levels
Marijuana sector’s accounting quirks generating ‘audited hallucinations’
– theglobeandmail.com
Observers say the industry needs more guidance and standardization in terms of how it generates financial statements