http://www.vancouversun.com/sports/raise+minimum+wage+Coell/2753318/story.html
Summary:
Ontario raised their minimum wage in April 1st; it leads to a minimum wage argument in British Columbia. While British Columbia has bold economic market, but it haven’t increase its minimum wage in 8 years. Murray Coell said that British Columbia has different ways to help those whom have low-wage jobs. “{British Columbia is} not looking at increasing the minimum wage,” instead our province is creating well-pay jobs and helpful tax deductions, such as health insurance. President of B.C. Federation of Labour considered that British Columbia should increase it’s minimum wage immediately to at least $10 per hour, since B.C. has the lowest minimum wages in Canada. And Coell responded that even B.C. has lower least wages, after tax deduction it has higher wages compare to other provinces.
Connection:
As the article mentions, British Columbia has the lowest minimum wages among the Canadian province. However, Ontario, used to be the most tax contribution province, its economy is in a depression. While they are getting other province’s tax and they help their province by higher the minimum wage. People’s month wages will increase about $120 in their regular earning and their gross earning is also going to increase. In other hand British Columbia has the lowest minimum wages, but we are getting different deductions that provide us better welfare. Also, we are having a low rate of income tax, which means that our tax earning is not high. Since British Columbia has a lower income tax rate than other main economic province, our tax deduction which ensue a lower total deductions. And that’s why Coell said “the after-tax dollars for someone at minimum wage in this province is quite good compared to some of the other provinces that have a higher minimum wage."
Reflection:
If I can make a choice again, I will still choose to live in British Columbia again, even though our minimum wage haven’t raise for 8 years. Because we have lower income tax, then our income won’t be end up lower then other provinces in Canada. In contrary, our wages are competitive with other higher minimum wage province, because we have a good system. Just by increasing the minimum wages doesn’t help Ontario at all, employer may fired employees because of the increase wages. Also, people who got fired in the depression, has lower chance finding another job for the reason that minimum wage is higher. In fact, employers needs demand, as the wages went higher, more demand alter to less demand. B.C.’s method is better than Ontario, we create jobs, and the minimum wage is not as high as other provinces, employers are willing to hire people. As more people has a constant job the crime rate will goes down since people as money. It creates a better society and community for our province.
Wednesday, April 28, 2010
Monday, April 12, 2010
Canadian Tire gas bars move into highway service centres
http://ottawa.ctv.ca/servlet/an/local/CTVNews/20100407/OTT_Cdn_Tire_Hwy_100407/20100407/?hub=OttawaHome
Summary:
Canadian Tire currently announced they are going have their own gas stations with the support and partner with Host Kilmer Service Centre. The gas stations will construct on the busiest highways in the country. It will include convenience stores, as well as fast-food store, interim services including parking, portable washrooms, public telephones and water. President of Canadian Tire, Michael Medline, hopes to earn money from the gas bars but also the retail outlets. And their able to explode their brand name to those who didn’t know Canadian Tire before. Also, Host Kilmer will earn a part of the revenue generated at the sites with the Ontario government, which can to lead the government out of the enormous impacts of the recession.
Connection:
The Tires has increased their net income from 2005 to 2008, but recession gives the corporation a small hit. It didn’t cause enormous drop of the net income. The analyzed selected income statement data and the graphs reveal Canadian Tire is a bold cooperation. They wants to use this develop gas station chance to expand their type of businesses and expose their brand name to different place by a benefit way. It can gain money from the “gas bars” and at the same time it has great advertisement chances. By develops gas stations, Canadian Tire is able to increase millions of revenue since their gas station is operating. However, it has to take years to cover the construction fee.
Reflection:
I think the Ontario government should be thankful to Canadian Tire because in the construction project it creates about 2500 service centre jobs and about 350 construction jobs. It definitely will improve and help the economic of Ontario. Also, Canadian Tire can also get “free” advertisement by their gas station, and they also can earn revenue from the gas bars too. It benefits customers, Ontario’s recession and their own company. It has potential to increase their both revenue and net income for sure. And Canadian Tire might get some more customers who notice Canadian Tire by the advertisements at the new gas stations.
Summary:
Canadian Tire currently announced they are going have their own gas stations with the support and partner with Host Kilmer Service Centre. The gas stations will construct on the busiest highways in the country. It will include convenience stores, as well as fast-food store, interim services including parking, portable washrooms, public telephones and water. President of Canadian Tire, Michael Medline, hopes to earn money from the gas bars but also the retail outlets. And their able to explode their brand name to those who didn’t know Canadian Tire before. Also, Host Kilmer will earn a part of the revenue generated at the sites with the Ontario government, which can to lead the government out of the enormous impacts of the recession.
Connection:
The Tires has increased their net income from 2005 to 2008, but recession gives the corporation a small hit. It didn’t cause enormous drop of the net income. The analyzed selected income statement data and the graphs reveal Canadian Tire is a bold cooperation. They wants to use this develop gas station chance to expand their type of businesses and expose their brand name to different place by a benefit way. It can gain money from the “gas bars” and at the same time it has great advertisement chances. By develops gas stations, Canadian Tire is able to increase millions of revenue since their gas station is operating. However, it has to take years to cover the construction fee.
Reflection:
I think the Ontario government should be thankful to Canadian Tire because in the construction project it creates about 2500 service centre jobs and about 350 construction jobs. It definitely will improve and help the economic of Ontario. Also, Canadian Tire can also get “free” advertisement by their gas station, and they also can earn revenue from the gas bars too. It benefits customers, Ontario’s recession and their own company. It has potential to increase their both revenue and net income for sure. And Canadian Tire might get some more customers who notice Canadian Tire by the advertisements at the new gas stations.
Wednesday, March 24, 2010
Chapter 14 credit card law in Australia
http://www.smh.com.au/business/new-credit-card-laws-wont-stop-gouging-by-companies-20100323-quat.html
Summary:
There is a new law design to advance consumer protection that credit card companies cannot charge as many fees and charges on their customers. Many companies, bank and even other financial institutions will be confronted a more harsh situation next year because the “unfair terms” under the new national consumer law of Australia. A survey shows there are only three out of twenty credit card providers didn’t get charge interest on interest, such as Teachers credit union, Heritage building society, and Bendigo Bank. There is an enormous difference between different types of credit card, as one of the twenty card provider mentioned, Westpac interest rate was 18 percent but the teacher card has a standard of 11 percent and does not charge interest on interest.
Connection:
As the banks finding another way to earn more money even thought the new national consumer law is protesting more of the consumer’s right, despite it is unfair, credit card providers have a bad time identify their own interest rate. I think as the process of and variety of new service charges and interest rates are created analyze and calculate it will be more difficult to do and require many new created ledger accounts. Especially, it requires an updated way of the calculation or even new kind of financial that the Australia government will like to browse.
Reflection:
I noticed that interest rates have been raise year after year, in Australia it reaches to a level that poorer people are unable to pay it. After the government stated the new consumer law, it seems advance most of people at the surface, expect any financial institutions or banks, however, I considered it would be a disaster for accountants. They now have to worry about a new kind of financial statement. It may become a battle between the credit card companies and laws. The companies try hard to find as many ways as they can “steal” money from the card provider but the law protests consumer’s right vaguely.
Summary:
There is a new law design to advance consumer protection that credit card companies cannot charge as many fees and charges on their customers. Many companies, bank and even other financial institutions will be confronted a more harsh situation next year because the “unfair terms” under the new national consumer law of Australia. A survey shows there are only three out of twenty credit card providers didn’t get charge interest on interest, such as Teachers credit union, Heritage building society, and Bendigo Bank. There is an enormous difference between different types of credit card, as one of the twenty card provider mentioned, Westpac interest rate was 18 percent but the teacher card has a standard of 11 percent and does not charge interest on interest.
Connection:
As the banks finding another way to earn more money even thought the new national consumer law is protesting more of the consumer’s right, despite it is unfair, credit card providers have a bad time identify their own interest rate. I think as the process of and variety of new service charges and interest rates are created analyze and calculate it will be more difficult to do and require many new created ledger accounts. Especially, it requires an updated way of the calculation or even new kind of financial that the Australia government will like to browse.
Reflection:
I noticed that interest rates have been raise year after year, in Australia it reaches to a level that poorer people are unable to pay it. After the government stated the new consumer law, it seems advance most of people at the surface, expect any financial institutions or banks, however, I considered it would be a disaster for accountants. They now have to worry about a new kind of financial statement. It may become a battle between the credit card companies and laws. The companies try hard to find as many ways as they can “steal” money from the card provider but the law protests consumer’s right vaguely.
Thursday, January 14, 2010
chapter 12 Retailers happy as shoppers go online - The National Newspaper
Retailers happy as shoppers go online - The National Newspaper
Summary:
As online shopping become popular, consumers begin to buy goods online instead of overcrowded malls. Most consumers consider shopping on the internet it is more comfortable and convenient. Furthermore, people can use the internet to bargains, avoid queues and ask questions. The managing director of Quickdubai.com said its sales rose 20 per cent higher than last year’s Christmas sales grew by 25 per cent. Also, she states customers becoming less careful of shopping online. People are using cards to pay the goods online, which means cash on delivery. Round one-fourth of the Dubai's population shops online. Therefore, they can conclude that “people are getting to know the concept more,” and more people is going to shop online.
Connection:
While more people choose shopping online, there are more people using cards, for instance, credit card, debit card, VISA, master card, etc. Then there will be more cash on delivery transition happen frequently. Cash on delivery can benefit both the customer and seller from many ways. Customer is able to get the product and the seller is able to gain the money in the same time. Therefore, there are fewer chances to play cheats on both ways. Also, there is not need to be sending out both purchases either sales invoice to the seller and consumer. Hence, there online shopping is a good choice for both seller either consumer.
Reflection:
I think online shopping is a comfortable way to shopping. Consumers will have more goods to choose instead of limited goods in store. Moreover, profession online shoppers will always compare prices will store and the web, and it often appears with one outcome “goods sells in the internet are always in better price”. I think it is the reason why it keeps rise higher and higher. Furthermore, cash on delivery provide creates basic trust with both consumer and seller. And everybody have to observe the rule of honest and trust.
Summary:
As online shopping become popular, consumers begin to buy goods online instead of overcrowded malls. Most consumers consider shopping on the internet it is more comfortable and convenient. Furthermore, people can use the internet to bargains, avoid queues and ask questions. The managing director of Quickdubai.com said its sales rose 20 per cent higher than last year’s Christmas sales grew by 25 per cent. Also, she states customers becoming less careful of shopping online. People are using cards to pay the goods online, which means cash on delivery. Round one-fourth of the Dubai's population shops online. Therefore, they can conclude that “people are getting to know the concept more,” and more people is going to shop online.
Connection:
While more people choose shopping online, there are more people using cards, for instance, credit card, debit card, VISA, master card, etc. Then there will be more cash on delivery transition happen frequently. Cash on delivery can benefit both the customer and seller from many ways. Customer is able to get the product and the seller is able to gain the money in the same time. Therefore, there are fewer chances to play cheats on both ways. Also, there is not need to be sending out both purchases either sales invoice to the seller and consumer. Hence, there online shopping is a good choice for both seller either consumer.
Reflection:
I think online shopping is a comfortable way to shopping. Consumers will have more goods to choose instead of limited goods in store. Moreover, profession online shoppers will always compare prices will store and the web, and it often appears with one outcome “goods sells in the internet are always in better price”. I think it is the reason why it keeps rise higher and higher. Furthermore, cash on delivery provide creates basic trust with both consumer and seller. And everybody have to observe the rule of honest and trust.
Tuesday, October 13, 2009
Chapter 11 & Go West, Young Business
Go West, Young Business
Shared via AddThis
Summary:
The people in West Tampa, Florida, United States, try to redevelop the land they owned. They think Howard Avenue is a really potential area. Many business owners try to invest this avenue and recreate a community by open various stores, for instance, nail salon, flower shop, gift shop, grocery store, restaurant, antique store and etc. They try to merchandise here because it involves plenty of history, and its location close to downtown. One of the business owner stated the area can thrive because it has buildings in place and historic charm, but it needs to provide parking garage, traffic lights to slow motorists and fewer restrictions on business owners. If such limitation could be fixed, it will attract lots of customers.
Connection(redo):
A merchandise business is not as easy as people think of at it show. It involves lots of complex things do deal with. For instance, taxes cost of per unit, gross profit and net profit. Choi, the boss of a beauty supply store, which sells supplies that lady uses for makeup. He imports all of the merchandise from Korean and China because there are countries that produce high quality and low price. Choi could get it for very cheap price. However, the taxes and freight-in may be a large expense for a small merchandise business as Choi’s. It may even cost more than he actually get the merchandise which produced in Canada. Or even he may sell the product at higher prices instead of operating a business with high quality low price in order make sure its gross profit is enough to cover up its expense and able to produce a net profit.
Reflection:
After I read this article I realize that it really takes time to plan a merchandise business. It is not enough the business owner owns a crowded spot in downtown, its product and price is what attracts customer’s eyes. Small profit merchandise business need to keep their cost as little as possible, therefore they can import products from countries, such as China, Korea, India, Mexico, and etc, because all those countries produce less cost products. It can reduce their purchase of their merchandises and bring them more profit for the small merchandising business.
Shared via AddThis
Summary:
The people in West Tampa, Florida, United States, try to redevelop the land they owned. They think Howard Avenue is a really potential area. Many business owners try to invest this avenue and recreate a community by open various stores, for instance, nail salon, flower shop, gift shop, grocery store, restaurant, antique store and etc. They try to merchandise here because it involves plenty of history, and its location close to downtown. One of the business owner stated the area can thrive because it has buildings in place and historic charm, but it needs to provide parking garage, traffic lights to slow motorists and fewer restrictions on business owners. If such limitation could be fixed, it will attract lots of customers.
Connection(redo):
A merchandise business is not as easy as people think of at it show. It involves lots of complex things do deal with. For instance, taxes cost of per unit, gross profit and net profit. Choi, the boss of a beauty supply store, which sells supplies that lady uses for makeup. He imports all of the merchandise from Korean and China because there are countries that produce high quality and low price. Choi could get it for very cheap price. However, the taxes and freight-in may be a large expense for a small merchandise business as Choi’s. It may even cost more than he actually get the merchandise which produced in Canada. Or even he may sell the product at higher prices instead of operating a business with high quality low price in order make sure its gross profit is enough to cover up its expense and able to produce a net profit.
Reflection:
After I read this article I realize that it really takes time to plan a merchandise business. It is not enough the business owner owns a crowded spot in downtown, its product and price is what attracts customer’s eyes. Small profit merchandise business need to keep their cost as little as possible, therefore they can import products from countries, such as China, Korea, India, Mexico, and etc, because all those countries produce less cost products. It can reduce their purchase of their merchandises and bring them more profit for the small merchandising business.
Wednesday, September 16, 2009
review: income statement
http://www.theprovince.com/business/story.html?id=1996031
summary:
This article is about the world airlines are starting to loss over US$10-million dollars. The global economic storm really threatens airline industries, for instance, IATA (International Air Transport Association) stated that revenue might slump about 15% in 2009. Further more, IATA director general and chief executive Giovanni Bisignani said the revenue can not return to the level which before the global economic storm. Most of the airlines are losing about US$5-millions every year after the storm. Also, the oil prices have risen up and they expect passenger traffic to fall. Lastly, Mr. Bisignani announced that the bottom line of the crisis with total loss of about US$27-billions, it damage more than the damage of 9/11.
Connection (redo):
The connection between the article and accounting is airline’s income. Their revenue had drop a lot compare with the days before the recession. Most airlines are losing millions every year after the economic storm; also the oil price has risen up. There are no way that airline can still made any large net profit, and some even bankrupt. From all those sources, it can prove the net income will transform to net lost in the airline industries. Furthermore, while the oil price goes up the price for airplane tickets may rise up too, even though everyone is experiencing the economic recession. Therefore, there will be no more people taking the airplane for short distance trip; people may get trains, ships, or coach instead. If the airlines remain the same price, the quality and service of the airplane may reduce. For instance, there will be fewer air hostess serve customers, or customer may need to pay for their meals in airplane or even pay for the luggage that people bring. Do people willing to pay an separate airplane ticket and pay all of their meals and luggage? Will people still want to get on an airplane that lack of quality services?
reflection:
It reflects that the global economic storm really pulls our standard of life down. Many people do not have extra money to go travel or buy a flight ticket. And the worst is that the gasoline and oil’s price has rise up a lot. This makes the airline industries harder to do. They can not make big difference for flight ticket but they actually can not make any money in this time, and they even need to money to continue for their business. It proves that most people’s revenue did drop, and it will not be rise up in short term.
summary:
This article is about the world airlines are starting to loss over US$10-million dollars. The global economic storm really threatens airline industries, for instance, IATA (International Air Transport Association) stated that revenue might slump about 15% in 2009. Further more, IATA director general and chief executive Giovanni Bisignani said the revenue can not return to the level which before the global economic storm. Most of the airlines are losing about US$5-millions every year after the storm. Also, the oil prices have risen up and they expect passenger traffic to fall. Lastly, Mr. Bisignani announced that the bottom line of the crisis with total loss of about US$27-billions, it damage more than the damage of 9/11.
Connection (redo):
The connection between the article and accounting is airline’s income. Their revenue had drop a lot compare with the days before the recession. Most airlines are losing millions every year after the economic storm; also the oil price has risen up. There are no way that airline can still made any large net profit, and some even bankrupt. From all those sources, it can prove the net income will transform to net lost in the airline industries. Furthermore, while the oil price goes up the price for airplane tickets may rise up too, even though everyone is experiencing the economic recession. Therefore, there will be no more people taking the airplane for short distance trip; people may get trains, ships, or coach instead. If the airlines remain the same price, the quality and service of the airplane may reduce. For instance, there will be fewer air hostess serve customers, or customer may need to pay for their meals in airplane or even pay for the luggage that people bring. Do people willing to pay an separate airplane ticket and pay all of their meals and luggage? Will people still want to get on an airplane that lack of quality services?
reflection:
It reflects that the global economic storm really pulls our standard of life down. Many people do not have extra money to go travel or buy a flight ticket. And the worst is that the gasoline and oil’s price has rise up a lot. This makes the airline industries harder to do. They can not make big difference for flight ticket but they actually can not make any money in this time, and they even need to money to continue for their business. It proves that most people’s revenue did drop, and it will not be rise up in short term.
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