Collaboration Corner is an ongoing peer-to-peer member drop-in session where you can connect with other CPB Canada members to raise issues and address bookkeeping topics of interest. 2-3 experienced members will host each session.
CPB Canada encourages both experienced members and new members to use this platform to create community and ongoing support around a range of bookkeeping and related practice matters.
Info
When I am asked to set up a company, I always ask the client who their accountant/bookkeeper is; sometimes, the client is looking for one. Some clients rely solely on an external accountant, some have an internal controller, etc., so it is helpful for me as the Corporate lawyer to know the chain of command, who to send accounts to, how to issue and date accounts, etc., so the bookkeeper has the necessary information.
Learning Objectives:
- The concept of the corporation – a separate legal entity with limited liability
- The concept of amalgamation – of combining two legal entities that take on the assets and liabilities of the predecessor companies
- The importance of planning – such as a separate share classes, etc.
- The importance of following the plan including a separate bank account for the company and not co-mingling company
- Assets with personal assets
- Working with the lawyer and accountant/auditor depending on the nature of the company (varying level of financial
- Statements are required e.g. notice to reader, review engagement, audit, etc.)
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Presenter: Kim Johnson
Kim Johnson practices primarily in the area of corporate and commercial law with approximately 300 corporate clients and corresponding shareholders and directors. Kim was formerly a partner with a major regional law firm and has worked closely with other professionals all across Canada on a number of complex transactions over the years. Examples include: real estate development of a 70-unit private residence club; building on First Nations land and structuring First Nation technology ventures (e.g. wave energy, hydrogen); utilizing various capital raising exemptions to enable companies to raise funds from investors, including mortgage investment corporations; corporate reorganizations, sales and acquisitions and succession planning. Mr. Johnson has a good understanding of income tax and experience in identifying crucial elements for agreements. Mr. Johnson also deals with disputes with the Canada Revenue Agency from time to time, including the Appeals level of CRA. He has appeared in the Tax Court of Canada, Federal Court Trial Division and Federal Court of Appeal.
Mr. Johnson has served on the board of directors of a number of public and private companies, has assisted in establishing numerous registered charities, and continues to volunteer with various charitable and non-profit organizations.
Mr. Johnson is married to Melanie, has two adult children and four grandchildren, takes an active role in the community, enjoys recreational boxing and resistance training at The Forge in Victoria and competes in road and cross country 10k fun runs.
Meeting Agenda
5:45 pm - Informal networking
6:10 pm - Attendee introductions
6:30 pm - Meal service
7:00 pm - Presentation
7:45 pm - Wrap up and announcements
When: January 16, 2024, from 6:00 PM - 8:00 PM
Where: White Spot Langford, 941 Langford Pkwy, Langford, BC, V9B 0A5
Contact: Colleen Hogarth CPB FCPB - Email: colleen@hoggarth.ca Richard Games CPA CA - richard@jacobyandgames.com
Please note: Meeting spaces may have a minimum registrant requirement. Out of respect for the regional network chairs who arrange these meetings and the fees required to run them, if you register and are unable to attend, please email your cancellation notice to regionalnetworks@cpbcan.ca, so the event space and RNC can be notified accordingly.