Remembering Ross Skinner (1923-2003)

Saskatoon-born Ross MacGregor Skinner, FCA, had a significant impact on Canadian accounting standards. His 31-year Clarkson Gordon career began in 1945. A partner by 1954, he became national accounting standards director in 1962.

Among his numerous committee posts at the Canadian Institute of Chartered Accountants (CICA) were 5 years of service on its Committee on Accounting and Auditing Research (1959-64), including a term as its chair, and 5 years on its Standards Advisory Board (1990-95). He chaired the Auditor General­’s Independent Committee on Government Accounting and Auditing (1975-78) and, in the same period, was influential in the CICA’s decision to form its Public Sector Accounting Board.

He served two five-year terms on the Financial Disclosure Advisory Board of the Ontario Securities Commission (1974-79 and 1990-95) including three years as its chair. He was a consultant to the Commission to Study the Public's Expectations of Audits (the Macdonald Commission, 1987-88) and, working closely with the Commission, was the principal author of its report. He also served as a vice-president of the American Accounting Association, on the Board of Governors of Havergal College (Toronto), and on the editorial boards of Contemporary Accounting Research, Accounting Horizons, and the Accounting Historians Journal.

In 1962, he was elected a Fellow of the Institute of Chartered Accountants of Ontario (FCA) and, in 1984, he was one of the first five recipients of the Institute’s Award of Outstanding Merit. His many honours and awards also include an honourary doctorate of laws from Brock University, the Canadian Institute of Chartered Accountants’ Distinguished Service Award, and the Canadian Academic Accounting Association’s Haim Falk Award for Distinguished Contribution to Accounting Thought.

Apart from his work on committees of professional bodies and institutes, he wrote several influential books. His first, Analytical Auditing, co-authored with R.J. Anderson, was translated into four languages. His most well-known work, Accounting Principles: A Canadian Viewpoint is highly regarded in the accounting world, as is the book Accounting Standards in Evolution, co-authored with J. Alex Milburn.

Ross Skinner retired in 1983. In 1987 he joined the University of Toronto as adjunct professor and director of its Centre for Accounting Studies, positions he held until 1990. In 1999, he received an honourary Doctor of Laws from Brock University. In 2000, he was inducted to the Accounting Hall of Fame (refer to the article “A Rare Induction to Fame” in CAmagazine online). He passed away in 2003.

IBM’s 100 Icons of Progress

"In the span of a century, IBM has evolved from a small business that made scales, time clocks and tabulating machines to a globally integrated enterprise with more than 400,000 employees and a strong vision for the future. The stories that have emerged throughout our history are complex tales of big risks, lessons learned and discoveries that have transformed the way we work and live. These 100 iconic moments—these Icons of Progress—demonstrate our faith in science, our pursuit of knowledge and our belief that together we can make the world work better." 

"In the late-1980s, IBM helped create a network of supercomputer centers dubbed NSFNET (the National Science Foundation Network), one of the first networks to use TCP/IP. The project essentially gave birth to the Internet—and business and life around the world changed forever. Before the Internet, scientists and researchers had to travel—often out of the country—for computing resources and to collaborate on major projects. By the early 1980s, an early Internet had begun to emerge: a primitive, regional telecommunications network linking several national laboratories and supercomputing centers that could be accessed only by trained experts. It was complicated, unfriendly and slow. But it was an important first step to the worldwide establishment of the Internet."

IBM celebrates 100 years

“Of the top 25 industrial corporations in the United States in 1900, only two remained on that list at the start of the 1960s. And of the top 25 companies on the Fortune 500 in 1961, only six remain there today. Some of the leaders of those companies that vanished were dealt a hand of bad luck. Others made poor choices. But the demise of most came about because they were unable simultaneously to manage their business of the day and to build their business of tomorrow. As you read this, IBM begins its 101st year. Today we take a moment to step back and view the longer arc of history. We’d like to share some of what we have learned—sometimes in humbling ways—on our journey so far.” Read the full essay on the IBM 100 website. Explore an evolving collection of stories about the 100 IBM innovations that helped shape the last century. Celebrate IBM’s 100-year history with commemorative memorabilia designed exclusively for IBMers, families and friends.

A History of the Bar Code

In 1949, a young graduate student was wrestling with the concept of automatically capturing information about a product. He believed that the dots and dashes of Morse code would be a good model, but he could not figure out how to use those familiar patterns to solve his problem. Then, one day as he relaxed at the beach, he idly drew dots and dashes in the sand. As his fingers elongated the dashes he looked at the result and said, "Hey, I've got it." Three years later that graduate student, Joseph Woodland, and his partner received a patent on what began as lines in the sand, and the linear bar code was born. Today, the best-known and most widespread use of bar codes has been on consumer products. The Universal Product Code, or U.P.C., is unique because the user community developed it. Most technological innovations are first invented and then a need is found for the invention. The U.P.C. is a response to a business need first identified by the US grocery industry in the early 1970s. (For more information, see “A History of the Bar Code” at the Economic History Association online and "How UPC Bar Codes Work" at How Stuff Works online.

Canadian income tax, then and now

It has been almost 40 years since Canada overhauled its tax system, eliminating estate duties and bringing in capital gains tax. Since 1972, we have seen no less than 49 editions of the Income Tax Act. Its length has increased enormously and the complexity exponentially. Changes in technology have aided the Canada Revenue Agency in the selection and audit of taxpayers. Ever-changing legislation, powerful audit tools, information exchange agreements and anti-avoidance rules have made tax planning harder, tax compliance more challenging and tax enforcement easier with key changes over the past 40 years and challenges presented to the accounting profession. (Read the article “Income tax, then and now” in the June-July 2011 issue of CAmagazine online.)

CICA Corporate Reporting Awards celebrate 60 years of excellence

This year marks the diamond anniversary of the Chartered Accountants of Canada’s Corporate Reporting Awards. Since 1941 the program has been centre stage in Canada’s evolution to best practice reporting models.  By providing important recognition for those committed to advancing business reporting, the program has helped drive the development of best practices in financial reporting, corporate governance disclosure, electronic disclosure and sustainable development reporting, all of which are now regarded as essential components of the corporate reporting model. Judging organizations include the Canadian Institute of Chartered Accountants (CICA), PricewaterhouseCoopers, Ernst & Young, Deloitte, International Institute for Sustainable Development, Canadian Investor Relations Institute, and Toronto CFA Society.  (Read the article “Corporate Reporting Awards celebrate 60 years of excellence” in the June-July 2011 issue of CAmagazine online.)

A century of CAmagazine

Small beginnings are no indication of ultimate results,” noted the foreword to the first issue of The Canadian Chartered Accountant in July 1911. Launched from temporary offices in Toronto with the slogan “Of the Profession; by the Profession; for the Profession,” the 32-page quarterly magazine was an effort to knit the far-flung members of the Dominion Association of Chartered Accountants (DACA) into a cohesive fraternity. At the time, there were only seven provincial accounting organizations, with Alberta having formed its institute the previous year. In September 1911 at the national convention in Montreal, the magazine received its first and most important review: “Let it be printed,” members voted. (Read the article “A century of CAmagazine” in the June-July 2011 issue of CAmagazine online.)

CAmagazine - 100-year overview

When The Canadian Chartered Accountant began publishing 100 years ago, editors said its pages would be “open for discussions, for news and for any other purposes tending to bring the members more closely in touch with one another.” Sensibly, they made no claim for how the magazine would strengthen the community and instead focused on reporting and offering insight on events and issues critical to CAs. For a century, the magazine has acted as the profession’s adviser, referee, historian and, occasionally, conscience. The article “100-year overview” in the June-July 2011 issue of CAmagazine celebrates those who built, sustained and helped CAmagazine prosper. Happy birthday!

The Canadian Chartered Accountant – July 1921

On page 1 of this 10^th anniversary issue, a Note by the Publication Committee stated “The Canadian Chartered Accountant enters upon its eleventh year of publication with this issue. Hitherto a quarterly, it becomes, in response to demands from an appreciative constituency, a bi-monthly publication, at however, an increased price, rendered necessary by the steadily advancing costs of everything entering into its make-up, excepting Editorial services and it is felt that the time has arrived when that painstaking and uncomplaining person, the Editor, should be remembered also.”

The Note goes on to say that “Concurrently, it has been decided that no further advertising will be accepted by the Magazine, excepting from the Institutes or affiliated sources, the intention being to preserve its character and limit its use to matters of purely professional and technical interest. Our advertisers during the past ten years are extended our best thanks for the patronage and encouragement they have given us, and we trust that the publicity that the Magazine has given them may not have been wholly without benefit to them. We bespeak the goodwill and assistance of our readers, with the objects of making the Magazine more valuable and interesting, and of enlarging its list of subscribers to the point of being self-sustaining. Nothing beyond that is desired.”

Pages 4-11 of this issue of The Canadian Chartered Accountant include the Dominion Association of Chartered Accountants (DACA, now the Canadian Institute of Chartered Accountants) Act of Incorporation (assented to May 15, 1902), bylaws, List of Past Presidents and Secretaries (1902-1920) and the officers and council for 1920-1921.

(Read The Canadian Chartered Accountant, July 1921. Also, refer to the first edition of The Canadian Chartered Accountant, July1911.)