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Cash Flow 101

Accrual based accounting provides for an income statement showing profit as it contains all earned income and the expenses relating to earning that income. However, it doesn’t necessarily indicate that the profit is now in your bank account. Some investors and business...
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Congratulations to Amanda Hesselgrave

Congratulations to White Kennedy Staff Accountant, Amanda Hesselgrave on her recent graduation from Okanagan College with a Bachelor of Business Administration.  In addition to her degree, Amanda was honoured with two very impressive awards: 1. Silver Governor General’s Academic Medal Presented to...
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Cash versus Accrual

Most businesses must compute income on an accrual basis. This means that income is reported as it is earned and expenses are deducted as they accrue. However, farmers have the option of using the accrual method or the cash method. Under the...
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Mike Doherty Appointed to ICABC Council

Congratulations to White Kennedy Partner, Michael P. Doherty on his recent appointment to the Council of the Institute of Chartered Professional Accountants of British Columbia. “Michael is an invaluable member of both his community and the CA profession,” said Karen Christiansen, FCA,...
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Accounting Tips for Small Business

All businesses operating in Canada, from multinational corporations to the smallest start-up, are required to keep business records recording their income, expenses, and, ultimately, the profits on which they will be taxed. Traditionally, such records were kept in paper format, through ledgers and journals...
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Changes to Canada Pension Plan (CPP)

Are you 65, working and still contributing to Canada Pension Plan (CPP)? You don’t have to. The rules for contributing to Canada Pension Plan changed in 2012 and the changes are significant. ELECT NOT TO MAKE CPP CONTRIBUTIONS? Starting in 2012, if...
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Advance Payments Program

Are you familiar with The Advance Payments Program? This very helpful program was designed to give producers easier access to credit through cash advances for crops they are planting. Financing is available for growers of: • Beets • Cabbage • Carrots •...
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Congratulations to Troy Maclise of the Osoyoos Coyotes

At the Osoyoos Coyotes Awards dinner held in February, Troy Maclise, who plays Forward the team, was awarded Osoyoos Coyotes 2012/2013 White Kennedy Chartered Professional Accountants Most Sportsmanlike Player. Troy is pictured here with White Kennedy partner, Jeff Duguid, who runs our Osoyoos office....
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Transition from HST to PST in BC

The reimplementation date of PST in British Columbia is rapidly approaching. Specifically, April 1, 2013 is the date on which businesses will need to transition from charging 12% HST to 7% PST and 5% GST. In basic terms, anything invoiced to a...
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