Formerly known as "Revenue Canada", this is Canada's federal agency responsible for income tax and trade regulations. |||This is the Canadian equivalent of the IRS in the United States. The CRA made the leap from a department to an agency in 1999.
One of three levels of Canada's retirement income system, which is responsible for paying retirement or disability benefits. The Canada Pension Plan was established in 1966 to provide a basic benefits package for retirees and disabled contributors. If the recipient dies, survivors receive the plan's provided benefits. The CPP pays a monthly amount, which is designed to replace about 25% of the contributor's earnings on which initial contributions were based, and is indexed to the Consumer Price Index. |||There are several rules governing the amount an individual will receive upon retirement or disability. This amount is based on the person's age and how much he or she contributed to CPP while working. CPP benefits are considered taxable income. This is why some households elect to share the income, which can reduce taxes.CPP is roughly equivalent to the U.S. Social Security program. People residing in Quebec contribute to and receive the Quebec Pension Plan (QPP), not the CPP.
A grant from the Government of Canada paid directly into a beneficiary's Registered Education Savings Plan (RESP). It adds 20% to the first $2,000 in contributions made into an RESP on behalf of an eligible beneficiary each year. |||The CESG is an incentive program designed to encourage people to save for a child's education and to lessen the financial burden of a post-secondary education.
A method of valuing a company's intangible assets. This calculation attempts to allocate a fixed value to intangible assets that does not change according to the company's market value. Examples of intangible assets include brand equity and proprietary technology. |||Usually a company's intangible assets are valued by subtracting a firm's book value from its market value. However, opponents of this method argue that because market value constantly changes, the value of intangible assets changes also, making it an inferior measure. Finding a company's CIV involves seven steps:1. Calculate the average pretax earnings for the past three years.2. Calculate the average year-end tangible assets for the past three years.3. Calculate the company's return on assets (ROA).4. Calculate the industry average ROA for the same three-year period as in Step 2.5. Calculate excess ROA by multiplying the industry average ROA by the average tangible assets calculated in Step 2. Subtract the excess return from the pretax earnings from Step 1.6. Calculate the three-year average corporate tax rate and multiply by the excess return. Deduct the result from the excess return.7. Calculate the net present value of the after-tax excess return. Use the company's cost of capital as a discount rate.
What currency is CAD?CAD is the currency abbreviation or currency symbol for the Canadian dollar (CAD). The Canadian dollar is made up of 100 cents, and is often presented with the dollar sign as C$ to allow it to be distinguished from other currencies denominated in dollars, such as the U.S. Dollar (USD). CAD is considered to be a benchmark currency, meaning that many central banks across the globe keep Canadian dollars as a reserve currency. |||More about the Currency of Canada:The Canadian dollar has been in use since 1858 when the Province of Canada replaced the Canadian Pound with its first official Canadian coins. This dollar was pegged with the U.S. dollar at par using the gold standard system of 1 dollar equaling 23.22 grains of gold. In 1871, the federal government passed the Uniform Currency Act, which replaced the various currencies of the provinces with the one national Canadian dollar. Over its history, the Canadian dollar has moved back and forth between being pegged to the U.S. dollar, and being allowed to float freely. In 1950, the Canadian dollar was first allowed to float. From 1962 - 1970 it was pegged again; after which the currency has since been allowed to float.
A form of a buyout that incorporates characteristics of both a management buyout and a management buy-in. A BIMBO occurs when existing management - along with outside managers - decides to buyout a company. The existing management represents the buyout portion while the outside managers represent the buy-in portion. |||This option provides the best of both worlds of a buy-in and a buyout. For one thing, you can expect that the transfer will be made much more efficiently, because the existing members of management are already familiar with the business that is taking over. The management buy-in most likely will bring in outside individuals with a certain expertise lacking in the organization and will benefit the firm greatly.However, a BIMBO may not be so perfect. Tension may arise between the firm's employees and new members of management. If the employees feel threatened by the new management, the firm's performance may decline.
A company that is created to help grow small companies in the initial stages of their development. BDCs are very similar to venture capital funds. Many BDCs are set up much like closed-end investment funds and are actually public companies that are listed on the NYSE, AMEX and Nasdaq. |||To qualify as a BDC, companies must be registered in compliance with Section 54 of the Investment Company Act of 1940. A major difference between a BDC and a venture capital fund is that BDCs allow smaller, non-accredited investors to invest in startup companies. Some of the reasons why BDCs have become popular is that they provide permanent capital to their management, allow investments by the general public and use mezzanine financing opportunities.
A government agency that produces economic data that reflects the state of the U.S. economy. This data includes the Consumer Price Index, the unemployment rate and the Producer Price Index. |||This arm of the U.S. Department of Labor researches and publishes a range of data, from inflation and consumer spending to employment, productivity and wages, as well as other economic measures. These reports can have a significant effect on market sentiment.
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