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Transaction services Audit and accounting
Revenue Recognition for Technology Companies for Multiple-Element Arrangements under IFRS 15
The International Accounting Standards Board (IASB) has published a new standard, IFRS 15 Revenue from Contracts with Customers (IFRS 15). IFRS 15 sets out requirements for recognizing revenue that apply to all contracts with customers and replaces the myriad of current revenue standards. This new standard is effective for annual reporting periods beginning on or after January 1, 2018. 
May 25, 2016
Competitive Intelligence | Smart Phones
<em>“This article was originally written for and published by the Financial Management Institute of Canada for the March 2016 edition of the fmi*igf Journal. Authored by <a href="/en/cbn/professionals/toronto-ontario/charan-kumar-bommireddipalli" target="_blank">Charan Kumar Bommireddipalli</a> of Collins Barrow Toronto LLP and <a href="/en/cbn/professionals/ottawa-ontario/leena-patel" target="_blank">Leena Patel</a> of Collins Barrow Ottawa LLP.”</em> Intelligence gathering has been an integral part of statecraft, so is information protection.
May 18, 2016
Audit and accounting Private enterprise Tax advisory
Infographic: Clamping down on small business deductions
Members of partnerships or shareholders (in certain corporate structures) – take note! The 2016 Federal Budget proposes to extend partnership income rules to certain partnership and corporate structures , which may: <ul> <li>limit your small business deduction on active business income (ABI) earned from the partnership or corporate structure, and</li> <li>increase your corporate tax liability </li> </ul>
May 17, 2016
Show, don’t tell: effective leaders lead by example
In any business, leaders must find ways to inspire their team to deliver desired results. While telling them what to do might seem easier, it’s far more effective to lead by example.
May 10, 2016
Tax advisory
When measuring success, it pays to keep your distance
<strong>When measuring success, it pays to keep your distance</strong> Your business has stayed the course amidst untold degrees of uncertainty and persevered through the ups and downs. You have made significant sacrifices throughout this endeavour, bringing you to the very moment you are living today. But how well is your business really doing? Can you determine whether your business is successful or not?
Apr 27, 2016
Tax advisory
Canadian foreign reporting obligations
With the recent release of the International Consortium of Investigative Journalists’ (ICIJ) investigation of offshore tax havens used by a law firm based in Panama (known as the “Panama Papers”), the question of what Canada is doing to ensure that its taxpayers are disclosing offshore assets and reporting the related income is front and centre in the minds of many taxpayers.
Apr 22, 2016
Consider selling your business before 2017 − changes to eligible capital property rules
Entrepreneurs work hard at building their enterprise – but most of them want to eventually reap the rewards by selling all or part of their business. Entrepreneurs may focus on maximizing the purchase price through negotiation with a prospective purchaser, which is important. But they may be missing out on some important tax planning steps that can also have a significant impact on how much after-tax proceeds they can retain subsequent to the sale.
Apr 21, 2016
Succession and estate planning
Fundamental Changes to Rules for Estates and Wills
Recent amendments to the <em>Income Tax Act</em> have made fundamental changes to the tax rules for estates and wills. Lawyers and trustees should familiarize themselves with these new aspects.
Apr 21, 2016
The Four Cardinal Virtues of Law Firm Culture
Law firm “culture” isn’t that hard to define. Culture is what people at the law firm actually do every day – or, less sunnily, what people get away with doing.
Apr 21, 2016
Hunting in Packs: Group Meetings with Prospective Clients
If you have decided it will be advantageous for you to visit prospective clients as a pair or a threesome, you need to follow certain steps carefully in order to optimize your effectiveness and minimize mistakes that can cost you a relationship before you even have one.
Apr 21, 2016
Why Your Law Firm Needs a War Room for Business Development
Considering the successful history of the legal war room and the comfort level attorneys have with them, it is curious that more lawyers haven’t adopted the use of law firm business development (sales) war rooms. It seems a natural fit, but – as in other aspects of marketing – our industry lags behind.
Apr 21, 2016
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