What's new The major changes are listed below. Electronic filing for GST/HST registrants The mandatory electronic filing threshold of $1,500,000 that was in place for GST/HST returns has been removed ...

The equity accounting method is used if the reporting entity has a significant interest in another company but does not own it outright. In practice, this means an ownership stake of 20-50% in the ...

Accountants make closing entries to reset temporary accounts to a zero balance. Some accounts in the chart of accounts are temporary, while others are permanent. Assets, liabilities and equity ...