Canadian Tire Corporation, Limited is one of Canada's best-known retailers. The company operates 488 hard-goods retail stores

Question:

Canadian Tire Corporation, Limited is one of Canada's best-known retailers. The company operates 488 "hard-goods" retail stores through associate dealers, and a total of 385 corporate and franchise stores under its subsidiary Mark's Work Wearhouse, and has almost 290 independently operated gasoline sites and 87 PartSource stores. It offers financial services through its branded credit cards and now provides personal loans and a variety of insurance and warranty products.
Instructions
Access the of Canadian Tire Corporation, Limited for its year ended December 31,2011, either on the company's website or the SEDAR website (www.sedar.com). Refer to these and their accompanying notes to answer the following questions.
(a) How does Canadian Tire define cash and cash equivalents on its statement of financial position?
(b) What criteria does the company use to determine what short-term investments to include in this category?
(c) Review the and notes and identify the assets reported by Canadian Tire that qualify as loans and receivables. Does the company disclose the amount of its allowance for doubtful accounts? What was the amount of impairment for credit losses for the year? How does the company determine allowance for impairment? Be specific. What were the amounts for the writeoffs, recoveries, and impairment for credit losses for the year?
(d) When is a loan impaired? How is an impaired loan valued by Canadian Tire? Be specific.
(e) Accounting standards require companies to disclose information about their exposure to credit risk. What is credit risk? What does Canadian Tire report? What is your assessment of its exposure to credit risk?
(f) Canadian Tire uses its to generate cash before the receivables are due via securitization. Briefly describe the forms of "securitization" activities that the company uses.
Does Canadian Tire have a continuing relationship with the accounts? Is the accounting different under IFRS than it was prior to the adoption of !FRS for Canadian Tire?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...