Browse "Finance"

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Accounting

Accounting is the process of measuring and reporting on the financial activities of organizations. Accountants must select from a large number of events those which affect an organization and can be measured financially; the events selected and measured are then presented in financial reports.

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Balance of Payments

The balance of payments, or balance of international payments, is an accounting statement of the economic transactions that have taken place between the residents of one country (including its government) and the residents of other countries during a specified time, usually a year or a quarter.

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Bankruptcy

Bankruptcy is a legal process, governed by the Bankruptcy and Insolvency Act, that provides financial relief for debtors and a protection for creditors.

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Canada Savings Bonds

Canada Savings Bonds differ from other government bonds in that they can be cashed at any bank for the face value plus accrued interest. They cannot be sold by the original buyer but must be held until cashed or until they mature (usually in 7 years) from the time they were bought.

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Canadian Imperial Bank of Commerce (CIBC)

The Canadian Imperial Bank of Commerce, commonly known as CIBC, is the fifth largest chartered bank in Canada. It was created through the 1961 merger of two Ontario-based banks, the Canadian Bank of Commerce and the Imperial Bank of Canada — the largest merger of two chartered banks in Canada’s history. Today, CIBC operates its business in Canada and abroad through three divisions: retail and business banking, wealth management, and capital markets. CIBC is a public company that trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol CM. In 2017, CIBC registered $16.3 billion in revenue and $4.7 billion in profit and held $565.3 billion in assets. The bank employs approximately 45,000 people, who serve 11 million customers.

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Chartered Banks in Canada

Chartered banks, sometimes known as commercial banks, are public corporations that are licensed by the federal government to operate a banking business within Canada. By issuing these licenses (or charters), the Canadian government regulates and controls the country’s economy by influencing the amount, availability and distribution of money, and the terms or cost of accessing and distributing that money (interest rates). Chartered banks are regulated by the federal Bank Act and supervised by the Office of the Superintendent of Financial Institutions. Chartered banks in Canada accept deposits from the public and extend loans (such as mortgages) for personal, commercial, and other purposes. Banks also own and operate trust companies, securities dealers and insurance companies and offer such services as investment banking, international banking and more.

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Credit Card

A credit card is a card authorizing the holder to make purchases on credit. Credit cards are issued by financial institutions and non-financial businesses (eg, department stores, gasoline companies).

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Crop Insurance

Crop Insurance An all-risk crop-insurance program is available to Canadian farmers under the authority of the federal Crop Insurance Act (of 1959) and through concurrent and complementary legislation enacted by each province.

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Department of Finance

The Department of Finance Canada is the federal government's main engine of research, advice and analysis on national economic and financial affairs, including fiscal policy, debt management and taxation.

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Gluskin Sheff + Associates

Gluskin Sheff + Associates (GSA) is a small, personalized investment management firm overseeing investment portfolios of $3 million or more. Its clientele includes "high net worth" individual and institutional (eg, pension funds, charities) investors from North America and beyond.

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Income Trusts

Income trusts present an opportunity for investors to participate in a cash-flow stream generated by certain assets of an operating company.

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Municipal Finance

Municipal finance is concerned with the revenues and expenditures of municipalities. Revenues are secured from local taxes (see TAXATION) and other local revenues and from provincial and federal grants.

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Mutual Funds

An investment company may have many different mutual funds, each fund possessing different objectives and asset classes. The objectives, trading activity and asset classes of mutual funds vary widely but must be clearly stated to the investing public in a fund's prospectus.

Macleans

Mutual Funds: Best and Worst

That, of course, is the pitch many mutual fund investors want to hear - and one the financial services industry is only too happy to pump out. But savvy investors know that in the markets, big returns often go hand in hand with big risks.

Macleans

Newcourt Credit

Steven Hudson learned early about the power of performance-based compensation. As a teenager in Scarborough, Ont., he took a job at a bingo hall for seniors, pushing a refreshment cart up and down the aisles. The more chips and popcorn he sold, the more money he took home.

Macleans

Newcourt Merges with CIT

On May 5, hundreds turned up in their finest for the première of the National Ballet of Canada's revamped production of Swan Lake. Yet, as fabulous as artistic director James Kudelka's $1.6-million production was, an equally remarkable performance had taken place before the dancing ever started.