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Thanks for the memories

Dear readers,

It is with great reluctance that I announce the closing of this blog.

As of this Friday, May 9, 2008, I will leave public accounting to pursue new opportunities in the wide world of industry in internal audit.

I have met a lot of great people within the profession through this blog and it is those connections that I will take with me no matter where I go.

Thank you for your attention and comments – you are what made doing this worthwhile.

Neil McIntyre, CA
neil.mcintyre@gmail.com

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Financial statements using Flash

Are there any companies out there presenting their financial statements, or information derived from financial statement data, using Flash?

I haven’t seen any, but if they’re out there, I’d like to. If you know of any, please let me know! I think it’d be a pretty engaging medium to use to communicate financial data to stakeholders. Might as well make it entertaining!

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Asset impairment and writedown leads to blogging abyss

I don’t often bother my readers with tidbits from my personal life unless it somehow converges with my professional life and I feel that it could be of some interest to others.

I’m a big accounting geek, and as such I have a personal balance sheet in my head, where I employ some questionable accounting policies to account for my daily life. Expenditures related to my girlfriend had been capitalized up until January 20th, as they had a future benefit to me. On January 20th, I had to write down that massive asset to zero, as its entire value was impaired utterly and completely.

In the following weeks I had no motivation to blog or do anything really, so that is why it has been so long since my last post. I’m feeling better now though, and I’ll hopefully be back regularly as per the usual routine.

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Capital gains exemption limit increased to $750,000

As of March 19, 2007, the capital gains exemption has been increased to $750,000 from its previous $500,000 limit. This means that if you haven’t already taken advantage of the tax preferred treatment of capital gains on qualified small business shares, you should do so while the getting’s good. If you have already maxed out your $500,000, you have an additional quarter million to play with.