Out of curiosity - Where is everyone from?

[Michelle]

Hi Guys,

I was just curious where everyone was from. What kind of background people have. What other courses people have taken and currently taking. You never know when this kind of information could be useful. 

[gursewak sidhu]

Hi I am from India migrate in 2006 where from u

Sent from my iPhone

[Amanda Korbutiak]

Hello,

I'm from Winnipeg, Manitoba. I previously took an Accounting course in 2005 when I was 20 and I regret not sticking with it as I would've been getting my designation this year if I had!! Oh well... I worked in Accounts Payables and Receivables and G/L for the past 8 year and now I'm in Finance as a Junior Financial Analyst doing bank recs, and all the month end closing entries, financial statements, creating and tracking budgets, working with auditors, things like that!

Look forward to learning about others! :) This is a great study group so far, sorry I've been so busy... haven't had time to be involved in more discussions.

Have a nice day!
~Amanda

[Michelle]

I am from Hamilton, Ontario. I am also working in the accounting field (A/P, A/R, bank recs, journal entries, etc..). I never thought I would be, so in my studies I only took the required accounting courses. I could have been done a long time ago. Oh well. I find I am getting more out of the classed now that it is knowledge I can apply to my work anyways. This is my first CGA course, but I was lucky enough to be exempted out of 7 others. I am not looking forward to the 70% final.

[Lroberts14]

I live in Sarnia, Ontario and work in the accounting department at a local GM dealership. I've worked there for 9 years but have only worked in accounting for almost 2 years. I work in A/R right now but will be switching to A/P next year. This is my second CGA course.

Lori


Sent from Samsung Mobile

[Mohammad Niroomand]

Hi,

I ma from Vancouver, I have bachelor in Statistics CGA level 3 and I took some courses in BCIT and have experience in accounting in Iran and  here still I can't find job in accounting even entry level.

[Maryam Jan Mohammadi]

Hi Mohammad,

I am from Iran too J Nice to know people from my country..

 

Maryam J.Mohammadi

Del Management Solutions Inc.

2197 Riverside Drive,Suite 300

Ottawa ON

K1H 7X3

T:(613)260-3416 Ext: 502

F:(613)260-3566

Email:mar...@dmsproperty.com

[Mohammad Niroomand]

Hi Maryam,

Thx, that is great.

Cheers 

[Michelle]

Has anyone completed one of cases? Just wondering what they are like and what to expect. I am guessing that they cover stuff from all the courses in that level. 

[Aydin Atienza]

Guys i was just wondering if you have module notes summary you can share from your classes. Thanks

Sent from my iPad

[Belinda Reyes]

Hi Aydin,

 

Attached are my reviewers/notes for Modules 5 and 6.  I was hesitant to send them out, because they are too "wordy", but this is my way of studying.

 

Take a look and see if it will help you. 

 

Belinda

 

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[Darryl, Donna, Brianna & Mackenzie Eckhardt]

Hi All

 

Just wondering how everyone is doing for Quiz 4?

 

Thanks

 

Donna

 

From: lw1-s...@googlegroups.com [mailto:lw1-s...@googlegroups.com] On Behalf Of Belinda Reyes

Sent: Tuesday, July 17, 2012 9:19 PM
To: lw1-s...@googlegroups.com

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[steph.k.campbell]

Hi Michelle!

 

I am in Whitehorse, Yukon! I'm working for the Government of Yukon as a Financial Officer - Property Management Capital Developments.  I'm taking the majority of my courses through Athabasca University (FA1, FA2, MA1).  This is my first one through CGA (Alberta Chapter).

 

How is everyone finding the course?  I'm worried about the 70% final!

 

Stephanie

[liliana.cavalheiro]

Hi Donna,

 

I just finished last night going through all the chapters related to Quiz #4. I am planning to continue reviewing tonight and doing my quiz tomorrow.

 

Lily

[Michelle Cook]

Do you know what case they were referring to?

 

Michelle

 

From: lw1-s...@googlegroups.com [mailto:lw1-s...@googlegroups.com] On Behalf Of liliana.cavalheiro
Sent: July 30, 2012 11:17 AM
To: lw1-s...@googlegroups.com
Cc: deck...@bellaliant.net
Subject: Re: {LW1 Summer} Module notes to share

 

Hi Donna,

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[Elliott Richman]

Same here! I'm now in southeast Alberta on a long vacation while studying CGA! Almost done with Module 8 and will fly home (Halifax) tomorrow and do Quiz 4 that very evening as soon as I get home!

Off to work I go first thing Wed morning while readjusting to the time difference and battling jet lag! :-)

Elliott
-----Original Message-----
From: "liliana.cavalheiro" <liliana.c...@gmail.com>
Cc: <deck...@bellaliant.net>
To: <lw1-s...@googlegroups.com>

Sent: 7/30/2012 12:16:59 PM

Subject: Re: {LW1 Summer} Module notes to share

Hi Donna,

I just finished last night going through all the chapters related to Quiz
#4. I am planning to continue reviewing tonight and doing my quiz tomorrow.

Lily

On Sunday, 29 July 2012 18:19:46 UTC-4, Darryl, Donna, Brianna & Mackenzie
Eckhardt wrote:

> Hi All
>
>
>
> Just wondering how everyone is doing for Quiz 4?
>
>
>
> Thanks
>
>
>
> Donna
>
>
>

> *From:* lw1-s...@googlegroups.com [mailto:lw1-s...@googlegroups.com] *On
> Behalf Of *Belinda Reyes
> *Sent:* Tuesday, July 17, 2012 9:19 PM
> *To:* lw1-s...@googlegroups.com
> *Subject:* Re: {LW1 Summer} Module notes to share

[belr...@gmail.com]

Glad to hear we're on the same page. I meant to review and finish the quiz yesterday, but I got tired and sick after throwing a party for my daughter on saturday. Still sick and its not a good idea to take the quiz yet :(
Sent wirelessly from my BlackBerry device on the Bell network.
Envoyé sans fil par mon terminal mobile BlackBerry sur le réseau de Bell.

--

[Elena Tcherkassky]

lw1-s...@googlegroups.com

                               Question 1

0.5 out of 0.5 points

	Nick has a consulting business with monthly billings of $4,000. He rents his office, hardware, and furniture, and owns few assets. Nick rents his apartment, has no car, and spends most of his income on leisure. If he came to you and asked to borrow $10,000 for the purpose of increasing his working capital, which of the following securities would you most likely request? Answer
	Selected Answer:    Assignment of accounts receivable Correct Answer:    Assignment of accounts receivable Answer Feedback: You are correct! The creditor is given the right to collect money owed to the business in the event of a default. (Topic 8.3) Source: Ruth Yates, Business Law in Canada: Test Item File, 6th edition (Prentice Hall, 2002), Question 32, page 354. ISBN: 0-13-088202-X

                               Question 2

0.5 out of 0.5 points

	How does the accounting profession determine whether a lease is an operating lease or a capital lease? Answer
	Selected Answer:    By determining whether title is likely to pass to the lessee at the end of the lease period Correct Answer:    By determining whether title is likely to pass to the lessee at the end of the lease period Answer Feedback: You are correct! Whether or not title is likely to transfer at the end of the lease period is an important consideration in determining whether a lease is classified as operating or capital. (Topic 8.2)

                               Question 3

0.5 out of 0.5 points

	Rail Co. purchases a box car from Steel Co. for $100,000 under a finance lease, which it registers under the Personal Property Security Act. Rail Co. makes two payments of $10,000 and then defaults. What remedies are available to Steel Co.? Answer
	Selected Answer:    Steel Co. can repossess the secured goods and retain them. Correct Answer:    Steel Co. can repossess the secured goods and retain them. Answer Feedback: You are correct! The creditor can repossess the secured goods and retain them. (Topic 8.4)

                               Question 4

0.5 out of 0.5 points

	From which of the following borrowers would a chartered bank not be able to obtain security under section 427 of the Bank Act (1991)? Answer
	Selected Answer:    A builder Correct Answer:    A builder Answer Feedback: You are correct! Fishermen, manufacturers, and farmers are all specified types of borrowers mentioned in section 427 of the Bank Act. Builders are not. (Topic 8.5)

                               Question 5

0.5 out of 0.5 points

	Angelova asks you to finance her upcoming theatre production; she needs $10,000. She does not have a car or a house, but many companies have promised to pay for the theatre tickets that she has sent them. What type of security interest would you take? Answer
	Selected Answer:    Assignment of accounts receivable Correct Answer:    Assignment of accounts receivable Answer Feedback: You are correct! The creditor is given the right to collect money owed to the business in the event of a default. (Topic 8.3)

                               Question 6

0.5 out of 0.5 points

	Which of the following statements is true about a pledge? Answer
	Selected Answer:    The creditor takes possession of the collateral security and holds it until repayment. The debtor keeps title to the collateral security. Correct Answer:    The creditor takes possession of the collateral security and holds it until repayment. The debtor keeps title to the collateral security. Answer Feedback: You are correct! The creditor has possession of the goods used as security and will transfer possession to the debtor, who still has title to the goods, when he is repaid. (Topic 8.3)

                               Question 7

0.5 out of 0.5 points

	Adnane purchases a car from Rodolfo. Adnane will take possession of the car immediately and will pay Rodolfo $500 per month for 10 months. At the end of that period of time, Adnane will get title to the car. What is this transaction called? Answer
	Selected Answer:    Conditional sale Correct Answer:    Conditional sale Answer Feedback: You are correct! In a conditional sale, the seller retains title to the goods sold but possession of the property is transferred to the buyer, who will pay the purchase price in a series of instalments. Title is transferred to the buyer once the last payment has been made. (Topic 8.3)

                               Question 8

0.5 out of 0.5 points

	Which of the following statements correctly describes a finance lease? Answer
	Selected Answer:    The lease is meant to protect the third party’s financial investment in the chattel. Correct Answer:    The lease is meant to protect the third party’s financial investment in the chattel. Answer Feedback: You are correct! In a finance lease, a third party advances the funds to the owner/vendor, takes title (ownership) to the chattel, and transfers possession to the lessee. If the lessee defaults on its rental payments, the third party will be able to step in and retake possession of the chattel. (Topic 8.2)

                               Question 9

0.5 out of 0.5 points

	Which of the following transactions creates a security interest? Answer
	Selected Answer:    A chattel mortgage Correct Answer:    A chattel mortgage Answer Feedback: You are correct! A chattel mortgage creates a security interest because the borrower transfers an interest in property to the lender as security for a debt. (Topic 8.3)

                               Question 10

0.5 out of 0.5 points

	In a secured transaction, the creditor’s right to payment of a debt may be secured by his taking title to certain assets. In which one of the following types of transactions do those assets consist entirely of intangible property? Answer
	Selected Answer:    Assignment of accounts receivable Correct Answer:    Assignment of accounts receivable Answer Feedback: You are correct! Accounts receivable are choses in action. (Topic 8.3) Source: Ruth Yates, Business Law in Canada: Test Item File, 6th edition (Prentice Hall, 2002), Question 44, page 359. ISBN: 0-13-088202-X

                               Question 11

0.5 out of 0.5 points

	Which one of the following is true about a conditional sale? Answer
	Selected Answer:    The seller transfers title in the goods once the last payment has been made. Correct Answer:    The seller transfers title in the goods once the last payment has been made. Answer Feedback: You are correct! In a conditional sale, the seller retains title or property in the goods sold but possession of the property is transferred to the buyer who will pay the purchase price in a series of instalments. Title is transferred to the buyer once the last payment has been made. (Topic 8.3)

                               Question 12

0 out of 0.5 points

	Which one of the following statements is true with regard to a conditional sale of a computer to a consumer? Answer
	Selected Answer:    If the consumer has paid two-thirds of the amount owing under the conditional sale contract, the conditional seller could never seize the computer, even if the consumer were in default. Correct Answer:    In a conditional sales contract, the result of satisfying the condition is that the lien or charge will be removed from the goods used as security. Answer Feedback: Incorrect. The seller retains title to the property until the last payment has been made. The correct answer is, title is transferred to the buyer once the last payment has been made. (Topic 8.3) Source: Ruth Yates, Business Law in Canada: Test Item File, 6th edition (Prentice Hall, 2002), Question 25, page 352. ISBN: 0-13-088202-X

 

> Date: Mon, 30 Jul 2012 12:22:28 -0300
> From: RICH...@gov.ns.ca
> To: lw1-s...@googlegroups.com

> --
>
>
>

[Dee S]

Thank you!
 
Here is mine:

 
Question 1

0.5 out of 0.5 points

Which one of the following is true about a conditional sale? Answer

Selected Answer:

The seller transfers title in the goods once the last payment has been made.

Correct Answer:

The seller transfers title in the goods once the last payment has been made.

Answer Feedback: You are correct! In a conditional sale, the seller retains title or property in the goods sold but possession of the property is transferred to the buyer who will pay the purchase price in a series of instalments. Title is transferred to the buyer once the last payment has been made. (Topic 8.3)

• Question 2

• 0.5 out of 0.5 points

• How does the accounting profession determine whether a lease is an operating lease or a capital lease? Answer

• Selected Answer:

• By determining whether title is likely to pass to the lessee at the end of the lease period

• Correct Answer:

• By determining whether title is likely to pass to the lessee at the end of the lease period

• Answer Feedback: You are correct! Whether or not title is likely to transfer at the end of the lease period is an important consideration in determining whether a lease is classified as operating or capital. (Topic 8.2)

• Question 3

• 0.5 out of 0.5 points

• 	Under the Bankruptcy and Insolvency Act, which one of the following is true? Answer
  	Selected Answer: Under the Bankruptcy and Insolvency Act, a consumer proposal is initiated by the debtor. Correct Answer: Under the Bankruptcy and Insolvency Act, a consumer proposal is initiated by the debtor. Answer Feedback: You are correct! A consumer proposal is initiated by the debtor. (Topic 8.6)

• Question 4

• 0.5 out of 0.5 points

• 	In which one of the following situations is a chose in action given as security by a debtor to a creditor? Answer
  	Selected Answer: A dentist assigns her accounts receivable to the bank that lent her money for the purchase of a business. Correct Answer: A dentist assigns her accounts receivable to the bank that lent her money for the purchase of a business. Answer Feedback: You are correct! An account receivable is a chose in action. (Topic 8.3) Source: Ruth Yates, Business Law in Canada: Test Item File, 6th edition (Prentice Hall, 2002), Question 3, page 343. ISBN: 0-13-088202-X

• Question 5

• 0.5 out of 0.5 points

• 	Which of the following is an example of a negotiable instrument? Answer
  	Selected Answer: A promissory note Correct Answer: A promissory note Answer Feedback: You are correct! A promissory note is one type of negotiable instrument specified by the Bills of Exchange Act, the other two being bills of exchange (or drafts) and cheques. (Topic 8.1)

• Question 6

• 0.5 out of 0.5 points

• 	Which one of the following are negotiable instruments? Answer
  	Selected Answer: Promissory notes, drafts, and cheques Correct Answer: Promissory notes, drafts, and cheques Answer Feedback: You are correct! A negotiable instrument is a written document, a chose in action such as a bill of exchange (or a bank draft), a promissory note, or a cheque, which is evidence of a promise, express or implied, to pay a specific sum of money to the order of a specific person or to a bearer. (Topic 8.1)

• Question 7

• 0.5 out of 0.5 points

• 	Which of the following statements is true under the Bankruptcy and Insolvency Act? Answer
  	Selected Answer: A proposal allows an insolvent debtor to avoid bankruptcy. Correct Answer: A proposal allows an insolvent debtor to avoid bankruptcy. Answer Feedback: You are correct! A proposal is an arrangement between the debtor and its creditors that allows an insolvent debtor to avoid bankruptcy. (Topic 8.6)

• Question 8

• 0.5 out of 0.5 points

• 	In a rental agreement, what are the names for (i) the party who transfers possession of property for a period of time and (ii) the party who provides periodic money payments for the possession of the rented property? Answer
  	Selected Answer: (i) Lessor and (ii) lessee Correct Answer: (i) Lessor and (ii) lessee Answer Feedback: You are correct! The lessor transfers possession of the property for a period of time, and the lessee provides consideration in the form of a periodic money payment. (Topic 8.2)

• Question 9

• 0.5 out of 0.5 points

• Rail Co. purchases a box car from Steel Co. for $100,000 under a finance lease, which it registers under the Personal Property Security Act. Rail Co. makes two payments of $10,000 and then defaults. What remedies are available to Steel Co.? Answer

• Selected Answer:

• Steel Co. can repossess the secured goods and retain them.

• Correct Answer:

• Steel Co. can repossess the secured goods and retain them.

• Answer Feedback: You are correct! The creditor can repossess the secured goods and retain them. (Topic 8.4)

• Question 10

• 0.5 out of 0.5 points

• 	In which situation below is the debtor giving a chose in action as collateral security to the creditor? Answer
  	Selected Answer: A student pledges her Canada Savings Bonds to the bank for a loan to purchase a computer. Correct Answer: A student pledges her Canada Savings Bonds to the bank for a loan to purchase a computer. Answer Feedback: You are correct! Bonds are choses in action. A bond, like a cheque or a promissory note, is paper that represents an obligation to pay. (Topic 8.3)

• Question 11

• 0.5 out of 0.5 points

• From which of the following borrowers would a chartered bank not be able to obtain security under section 427 of the Bank Act (1991)? Answer

• Selected Answer: A builder Correct Answer: A builder

• Answer Feedback: You are correct! Fishermen, manufacturers, and farmers are all specified types of borrowers mentioned in section 427 of the Bank Act. Builders are not. (Topic 8.5)

• Question 12

• 0.5 out of 0.5 points

• 	Which one of the following is governed by federal statute and thus has rules common to all of Canada? Answer
  	Selected Answer: Bankruptcy Correct Answer: Bankruptcy Answer Feedback: You are correct! The Bankruptcy and Insolvency Act was adopted by the federal government in 1992. (Topic 8.6) Source: Ruth Yates, Business Law in Canada: Test Item File, 6th edition (Prentice Hall, 2002), Question 2, page 343. ISBN: 0-13-088202-X

  
   

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From: elenatch...@hotmail.com
To: lw1-s...@googlegroups.com
Subject: RE: {LW1 Summer} Module notes to share
Date: Mon, 30 Jul 2012 16:20:47 -0400

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[Maryam Jan Mohammadi]

I got this from my friend. I haven’t done my Quiz4 yet, busy moving L I will send mine tonight

 

Maryam J.Mohammadi

Accounting & Leasing Coordinator

Del Management Solutions Inc.

2197 Riverside Drive,Suite 300

Ottawa ON

K1H 7X3

T:(613)260-3416 Ext: 502

F:(613)260-3566

Email:mar...@dmsproperty.com

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[amymor...@gmail.com]

Im on vacation and hope to have mine done tomorrow morning.

Sent from my BlackBerry device on the Rogers Wireless Network

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From: "Maryam Jan Mohammadi" <mar...@dmsproperty.com>

Sender: lw1-s...@googlegroups.com

Date: Tue, 31 Jul 2012 08:21:48 -0400

To: <lw1-s...@googlegroups.com>

ReplyTo: lw1-s...@googlegroups.com

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