Understanding Capital Assets Vs Expenses

By |2023-06-30T14:18:35+00:00September 21st, 2023|Uncategorized|

Small business owners in Canada face a lot of challenges, and taking care of finances is among the top priorities. Understanding the difference between capital assets vs expenses is important for both tax purposes and for making decisions about your business. Why? You ask. Well, let's start with what capital assets are. What is a Capital Asset Capital assets (also often called Property, plant and equipment in Canada) are long-term assets that are critical for business operations. These assets are typically expensive (over $500) and have a useful life of more than one year. Examples of capital assets include buildings, equipment, [...]

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Working in a CPA Firm – A Blog by a Co-op Student at Virtual Heights Accounting

By |2023-09-07T02:27:04+00:00September 7th, 2023|Accounting|

Working as a Co-Op student in a CPA Firm by a Co-op Student I am a second-year student at Selkirk College, following the program post-graduate diploma in accounting. I have a BSc in applied accounting degree with 6+ years of experience in finance and accounting. During my working career, I have worked in auditing, managerial accounting, bookkeeping, and financial accounting. I started to work as a Co-op student on 9th January 2023 with Virtual Heights Accounting. The Co-op position has provided me with the platform to build my accounting career in Canada. I was able to gain knowledge and develop my [...]

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