Financial Instruments in the Construction Industry

Posted on May 14, 2012 by Administrator


As defined by the CICA, a financial instrument is any contract that gives rise to a financial asset of one party and a financial liability or equity instrument of another party. They include cash, trade accounts receivable and accounts payable, loans and notes receivable and payable, investments in equities and debt instruments as well as derivative contracts such as forward contracts, swaps and options. Construction contracts create financial instruments, including holdbacks receivable and payable.

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Posted in Accounting, Bookkeeping, Tips

GST/HST And The Construction Industry

Posted on May 3, 2012 by Administrator


Contractors, who are GST/HST registrants, collect GST/HST on behalf of the applicable government entity. A contractor, carrying on business in Canada, must register for GST/HST and obtain a “business number” if its revenues exceed $30,000 in a single calendar quarter or in four consecutive calendar quarters.

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Posted in Accounting, Bookkeeping, HST, SME, Tips

5 Essential iPhone Apps to help with Personal Finances

Posted on April 27, 2012 by Administrator


Mint


Mint.com iPhone app automatically enters transactions and updates account balances, sends real-time alerts to phone for low account balances, over-budget, and unusual spending activity. A recent update allows editing transactions on your device.

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Posted in Accounting, Bookkeeping, Phone Apps, Technology

How Much Do People Pay in Taxes from other Countries?

Posted on April 23, 2012 by Administrator


Ever questioned how much people pay in taxes in other countries? The interactive infographic below will allow you to select each country from the map for this information. You may be surprised by which countries have the lowest and highest income tax rates.


Tax ,Impuesto, Porez, Impôt, Cánach, Imposta, Φόρος, Podatek, Treth, Налог, Imposto, vergi, 税, ضريبة

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Posted in Accounting, Economy, Finances, Taxes

LedgersOnline Featured on AccountingWeb: No More Bad Bookkeeping

Posted on April 20, 2012 by Administrator


What would it be like to receive clean and concise financial data from your clients?


Wayne Zielke, CA, founder of LedgersOnline, assembled a team of financial and technology gurus to create online and accounting bookkeeping services to assist small and medium-sized businesses.


According to Zielke, many large accounting firms estimate that approximately 40 percent of their annual fees go toward fixing bad bookkeeping. He wanted to prevent that and eliminate all the cost of fixing careless record-keeping errors.

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Posted in Accounting, Bookkeeping, News, Technology

Financial Statements Guide for Construction Companies

Posted on April 10, 2012 by Administrator


The basic objective of financial statements is to communicate useful and meaningful information that meets the needs of the users of the financial statements.


Qualitative characteristics of useful and meaningful financial statements include:

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Posted in Accounting, Bookkeeping, Finances, Tips
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