Accounting, Bookkeeping, Income Tax Preparation, And Consulting Forum

A while ago, I popped an extra $1,000 CDN$ into my paypal account. Although I have posted a few times in this blog about the rising foreign exchange rates here and here, I didn’t think much of the running balance in my paypal account. All I do recall, is that I had about $XXXX dollars in $CDN plus $YYYY in $USD … then October 2008 $ZZZZ revenues in $USD was added to my paypal account .. and for some reason – silly me – I thought $XXXX + $YYYY + $ZZZZ = My Balance! But, I was wrong – as [More]

Have you been following the Exchange Rates Lately? Here are the average annual exchange rates for the following years by CRA 1995 – USD – 1.3726 1996 – USD – 1.3618 1997 – USD – 1.4267 1998 – USD – 1.5422 1999 – USD – 1.48584024 2000 – USD – 1.48520240 2001 – USD – 1.54841633 2002 – USD – 1.57035976 2003 – USD – 1.40146175 2004 – USD – 1.30152024 2005 – USD – 1.21163240 2006 – USD – 1.13409360 Translation: For $100.00 USD in 2006 … we would convert it to $113.41 Canadian dollars. For 2007 .. Here [More]

HART’s mind works in mysterious ways …. I have kept a record of every Prime Rate change since January 1, 1986. I guess I’m anal that way. There are many times working on year end financial statements that I have to accrue interest on loan balances. Quite contrary to common belief .. “term loan rates” are not that common for business. Mind you, I shouldn’t say that as if I am making a fact, but rather an observation. Usually with my experience, when there are company loans that involve general security arrangements, I have noted that these loans tend to [More]