Data Collection and Analysis

Romney, M., & Steinbart, P. (2012). Accounting information systems. (12th ed., p. 143). Upper Saddle River, NJ: Prentice Hall.

Although the Canadian Bank oligopoly has traditionally been uncontested, the environment in which they operate is experiencing significant change. In order for retail banks to remain relevant in a decade, they must make significant changes to their business model. International political landscape tensions hinder international ambitions of banks and while the increased regulation is viewed as an additional burden, it is currently one of the rare forces keeping new entrants from dominating the entire industry. The Canadian population is facing a significant shift affecting the banks environment, their customer base includes an increasing proportion of millennials, women and visible minorities. Canada has the second largest population of foreign born habitants, and due to mass migration this trend will intensify.

They offer the topic being discussed as well as professionalism to the report as a whole. Also provides information as to who or what the report belongs to.

Throughout history the Canadian and American banking systems have always taken separate approaches to the financial sector. There are many factors that influence the differences between the banking systems, some of which including their banking regulations, customer base and the chosen style of banking. All the factors presented have influenced the results of the banking sectors in both countries. Both systems have pros and cons, however the argument presented will reflect and support the benefits and success of the Canadian banking system and its ability to support the Canadian economy throughout the country’s history.

Bank of America is one of the largest banks in the nation. It is a multinational company and it is recognized by its high revenue value. Unfortunately, Bank of America has endured many complaints and harsh views regarding their lack of ethics. Ethical issues occur when there is a blatant disregard to implement integrity, trust, and responsibility. In some financial institutions, ethical matters are displayed in the way the consumers are treated. Within the past nine years, Bank of America has diminished all of their ethical promises by revealing customer information without their permission; discriminating against consumers based on their race; and manipulating overdraft fees in order to benefit the bank. In order to assess these problems, it is vital to recognize what Bank of America claims to stand for and determine where their most concerning issues are generated from.

“Big 6” Banks controlled the Canadian industry Current market via issuing Credit and Debit cards and the corresponding retail processing systems.

Accounting Information Systems The Crossroads of Accounting and IT by Donna Kay, Ali Ovlia Test Bank

1. At the start of the 21st century, RBC was Canada’s leading bank and largest bank in terms of assets and market capitalization. It was a full-service bank with five main lines of business: personal and commercial banking, insurance, wealth management, corporate / investment banking, and transaction processing. The commercial bank of RBC (Royal Bank) accounted for nearly 50% of the company’s net income and had an extensive delivery network with branches, Automated Banking Machines (ABM’s), point of sale terminals, mobile sales staff, and 1.4 million online banking customers and 2 million phone customers. The bank also had an extremely strong international network.

The Scotiabank is one of the world’s most popular banks in North America and is located in Canada, Halifax. Founded in 1832, Scotiabank came to be the second largest bank in Canada. A year after its development, Scotiabank paid out its first dividend to shareholders. Having marked the method in history, it was carried out through the golden era to the modern era and is yet continued to this day. Scotiabank provides innovative financial products and services to individual customers, small/medium sized business, corporations and governments across the world.

The objective of this report is to analyze and evaluate Scotiabank’s primary business activities and financial data to determine whether or not it would be a good employer of recent University of Calgary graduates. This report includes sections such as company introduction, marketing and operations management, corporate social responsibility and recent issues, and financial information.

For customers, they aim to have high customer satisfaction and customer loyalty as well as a deeper relationship with their customers. For employees, they track employee engagement, enhanced diversity of their workforce, advancement in women and leadership development. For operational, productivity ratio, strong practice of corporate governance and compliance processes, efficiency and expense management, and the commitment to corporate social responsibility (Scotiabank,

As compared to the US banking system, Canada has fewer banks; therefore, its financial system is more concentrated. Although highly concentrated, Canadian banks are generally more diversified, with expansion in wealth management, insurance, deposit and loans, and brokerage services. Further, the Office of the Superintendent of Financial Institutions (OSFT) was responsible to the Minister of Finance for the supervision of banks and federally regulated non-bank financial institution. With this in mind, the Canadian banking system was one of the most stable in the world with only two bank failure since 1923. From 1987 to 1992, several revisions were made to the Canada’s Bank Act, which required a bank to maintain adequate capital as well as adequate and appropriate forms of liquidity. The revisions helped decrease the barriers between the four pillars of Canada’s financial services industry: commercial banking, investment banking, trust, and insurance. More importantly, this changes led to the expansion of new services of major Canadian banks such as insurance, money management, retail brokerage, trust, and by 1980, Canada allowed foreign banks to enter its market.

The Royal Bank of Canada was founded in 1869; Royal Bank was Canada’s largest financial institution with assets of Canadian$245 billion in September 1997. Royal bank was ranked first or second among Canadian financial institutions in earnings, market capitalization, and in virtually every financial service it delivered. The bank had 10 million personnel, businesses, government, and financial institution clients that were serviced through one of the world’s largest delivery networks. This network included more than 1,600 branches and over 4,000 automated banking machines. In Canada it was selected as number one among all companies regardless of industry in the categories of “Leader in Investment Value,” “Leader in Responsibility” (which measured equality and charity), and “Leader in Financial Performance.” Royal Bank operates to date in over 30 countries and has over 100 delivery units. The bank was strongly represented in the major international financial centers of the world, including New York, London, Frankfurt, Tokyo, Hong Kong, and Singapore. Royal Bank was located through Latin America and Europe. Business clients were offered services in corporate banking, trade financing, treasury services, and

Information systems changed forever the way accounting tasks are processed. The days of green paper pads are gone, and instead businesses have a centralized place where all accounting transactions are entered and saved. No more looking for paper

Using computer-based accounting systems does have its disadvantages, such as certain laws pertaining to confidentiality, the requirement to protect against the loss of data through power failures, the