Accountant Services North Vancouver

Accountant Services North Vancouver

Digital accounting

This immediacy in financial reporting is essential for quick adaptations to market changes or unexpected financial challenges. Whether you're looking for comprehensive tax services, tailored financial strategies, or support for business growth, their team is equipped to guide you towards financial clarity and success. Learn more about IBB Accounting & Tax Services here. Whether you're a solo entrepreneur or run a bustling enterprise, we've got you covered. Learn more about Accountant Services North Vancouver here In the bustling business landscape of Accountant Services North Vancouver, IBB Accounting & Tax Services stands out as a beacon of balance and brilliance, guiding companies through the complexities of financial management with unmatched expertise. With IBB, you're not just getting tax filing assistance; you're gaining a strategic partner dedicated to leveraging tax strategies that propel your business forward.
You'll have access to user-friendly platforms that simplify document submission, making it easier to keep your financials organized and up-to-date. Let's secure your financial future together. Transparency isn't just a buzzword here; it's a foundational principle. With IBB, you're not just getting an accounting service; you're partnering with specialists who are as invested in your success as you are.
With IBB, you're not just getting an accountant; you're getting a financial partner dedicated to helping your business grow. With IBB's tailored services, your finances are in capable hands, allowing you to focus on growing your business with confidence. They'll dissect your financial statements, highlighting areas of strength and pinpointing where improvements are needed. Moreover, IBB's expertise in tax laws and accounting standards ensures that your financial statements meet the highest standards of accuracy and compliance.

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  1. Year-end financial statements
  2. Accounting for freelancers
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  4. Business incorporation services
  5. Business tax return preparation
  6. Tax audit assistance
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  8. Financial statement preparation
  9. Accounting for medical professionals
  10. Self-employed tax services
  11. Partnership accounting
  12. Tax accounting
  13. Accounting training
  14. Forensic accounting
  15. Professional bookkeeping
  16. Business restructuring accounting
  17. Accounting for import/export businesses
  18. Cloud accounting solutions
  19. Small business accounting software
  20. Tax deduction optimization

Let us help you navigate the complexities of the investment world with solutions that promise not just growth, but stability and peace of mind. Moreover, their financial consulting services can guide you through budgeting, financial forecasting, and investment strategies, helping you make informed decisions that drive growth and stability. We're not just crunching numbers; we're tailoring a retirement plan that aligns with your vision of the future. With years of experience under their belt, they've helped numerous businesses and individuals navigate the complex world of taxes and finances with ease.

By choosing IBB, you're ensuring that your financial affairs are handled with the utmost accuracy and integrity, freeing you to focus on what you do best: growing your business. With IBB, you're not just getting an accountant; you're getting a specialized ally in the real estate world. With IBB, you'll get access to user-friendly financial dashboards that consolidate all your financial data in one place. You'll receive detailed reports and recommendations that not only satisfy statutory requirements but also empower you to enhance financial controls and operational efficiency. We'll help you set realistic financial goals and develop a clear, actionable plan to achieve them.
We're here to guide you through implementing these strategies, providing ongoing support and adjustments as needed. Navigating the complex world of finance is easier with the right accounting software solutions, tailored to fit your business's needs. This means you're not paying for services you don't need. They'll guide you through organizing your financial statements, reports, and any necessary documentation.
Tailoring our services to meet the unique needs of various industries, we ensure your business receives the specialized attention it deserves. This isn't about overwhelming you with jargon or endless spreadsheets; it's about giving you clear, concise insights that make sense.

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  2. Tax-efficient investment strategies
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  9. CRA audit help
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  13. Cost accounting
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  15. Payroll processing
  16. Corporation tax accountant
  17. Chartered accountant
  18. Income tax strategies
  19. Business valuation
Read more about Accountant Services North Vancouver here As you delve into this transformation, you'll notice the diverse sectors that have flourished, ranging from tech startups to traditional manufacturing firms. This proactive approach can significantly reduce your tax liabilities, freeing up more resources for you to invest, save, or spend as you see fit.
Whether you're facing a new challenge or just need reassurance, our team is always a call or email away.

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  9. CRA audit help
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  13. Cost accounting
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This prime location makes it easy for you to drop by, whether you're coming from your office, home, or even after a leisurely day out in the city. Navigating the maze of regulations requires a keen eye for detail and a deep understanding of both federal and provincial tax systems. They enable you to make informed decisions quickly, reducing the risk of financial missteps.

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Tax Return Specialist North Vancouver

The City of North Vancouver is a city on the north shore of Burrard Inlet, British Columbia, Canada. It is a suburb of Vancouver. It is the smallest in area and the most urbanized of the North Shore municipalities, although it has significant industry of its own – including shipping, chemical production, and film production. The city is served by the Royal Canadian Mounted Police, British Columbia Ambulance Service, and the North Vancouver City Fire Department.

Citations and other links

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Once you've made contact, IBB will arrange a consultation. With IBB's guidance, that startup secures a significant investment, streamlining operations and scaling up faster than anticipated.

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  6. Sole proprietorship accounting
  7. HST/GST tax filing
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  13. E-commerce accounting
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We leverage the latest technology and data analysis tools to identify opportunities that align with your risk tolerance and investment horizon.

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  9. GST/PST filing
  10. Bookkeeping services
  11. Certified public accountant (CPA)
  12. CRA audit help
  13. Accounting services
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  15. Accounting for realtors
  16. Cost accounting
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  18. Payroll processing
IBB Accounting & Tax Services in Accountant Services North Vancouver brings you to the forefront of financial management by integrating the latest accounting software solutions into your business framework.

After partnering with IBB Accounting & Tax Services, they've not only streamlined their financial processes but also identified significant tax savings, transforming their financial landscape. Cloud-based platforms allow you to access your financial data from anywhere, at any time. You'll have access to real-time financial data, empowering you to make informed decisions swiftly.

This dynamic strategy aims to keep you ahead of the curve, seizing growth opportunities while mitigating potential losses.

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  9. Bookkeeping services
  10. Certified public accountant (CPA)
  11. CRA audit help
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  15. Cost accounting
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  19. Chartered accountant
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From there, we develop a bespoke strategy that aligns with your objectives, whether it's maximizing profitability, ensuring tax efficiency, or planning for future growth. Our strategic business advice goes beyond traditional accounting services.

It's about adding value where it matters most to your business. Grasping Accountant Services North Vancouver's growth involves recognizing the city's evolving economic landscape and its impact on local businesses. Why, you might wonder, should IBB Accounting be your go-to in a sea of accounting firms?

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  9. Tax consulting
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  13. Certified public accountant (CPA)
  14. CRA audit help
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Accountant Near Me Accountant Services North Vancouver
Professional Financial Services Accountant Services North Vancouver

Professional Financial Services Accountant Services North Vancouver

Moreover, their proactive approach means they're always looking ahead, helping you navigate financial complexities before they become obstacles. You're in luck because Accountant Services North Vancouver's premier accounting firm doesn't just crunch numbers; they tailor their financial services to fit you like a bespoke suit. Meet the dedicated professionals behind IBB's success, who bring their extensive experience and expertise directly to your business's tax and accounting needs. We encourage you to share your experiences with us, allowing us to continuously improve and adapt our services to better suit your needs. You'll see where you're making money, where you're not, and where you can improve.

This includes everything from leveraging business expenses to optimizing your retirement savings contributions. For those who are tech-savvy, IBB Accounting & Tax Services has a user-friendly website. Navigating financial planning can seem daunting, but we're here to guide you through every step, ensuring your financial goals are within reach.

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  11. Corporate tax accounting
  12. Outsourced accounting services
  13. Budgeting and forecasting
  14. Accounting technology solutions
  15. Nonprofit accounting
  16. Accounting for musicians
Through our specialized tax planning and advisory services, we've managed to secure significant tax savings, enabling the company to reinvest in innovation and expansion.

You've likely searched high and low for a reliable accountant in Accountant Services North Vancouver, and it's clear that their track record stands out. And for manufacturers, our knowledge in cost accounting and supply chain management can be the difference between profit and loss. Imagine a payroll system that's as straightforward as it's efficient. They stay ahead of the curve on tax laws and financial regulations, ensuring that you're not only compliant but also maximizing your financial potential.

Every enterprise in Accountant Services North Vancouver has its own set of challenges and goals, making a one-size-fits-all approach to bookkeeping ineffective. IBB stays on the cutting edge of these changes, providing you with the most current advice.

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  9. Business advisory services
  10. Financial risk management
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  12. Accounting for franchises
  13. Income tax preparation
  14. Accounting firm reviews
  15. E-commerce accounting
  16. Accounting for artists
  17. Cash flow management
You're not just another client to us; you're a partner whose success is our primary objective. Another client, a local bakery, was on the brink of closing.

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Take, for instance, a local boutique that was struggling with inventory management and cash flow issues. Whether you're navigating the intricacies of tax planning, seeking advice on financial growth, or simply need help with bookkeeping, their personalized service ensures that your financial affairs are in capable hands.

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  1. Accounting for startups
  2. Retail accounting
  3. Corporation tax filing
  4. Self-employment tax preparation
  5. Personal tax services
  6. Certified accountants
  7. Corporate tax accounting
  8. Outsourced accounting services
  9. Budgeting and forecasting
  10. Accounting technology solutions
  11. Nonprofit accounting
  12. Accounting for musicians
  13. Debt management
  14. Estate planning accounting
  15. QuickBooks accounting
  16. Accounting for Airbnb hosts
  17. Hospitality industry accounting
With a comprehensive suite of services tailored to meet your unique needs, from tax preparation to strategic investment planning, they offer more than just number crunching. We understand that tax planning can be complex, and the one-size-fits-all approach simply doesn't cut it.

From navigating ever-changing tax laws to understanding local market trends, you're not alone. You can call their office directly to schedule an appointment or if you have quick questions that need immediate answers. Moreover, their user-friendly website provides a wealth of information at your fingertips.

Additionally, reevaluate your expenses regularly. Beyond their expertise in tax solutions, IBB Accounting & Tax Services also excels in strategic financial planning, ensuring your financial goals are both ambitious and achievable. Building on their commitment to customized solutions, IBB also offers strategic tax advice tailored to the unique needs of different industries.

They understand that no two businesses are alike, and that's why their tax solutions are as unique as your venture. With IBB, you're not just getting a tax service; you're securing a partner invested in your financial well-being.

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  7. Financial consulting
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  9. Estate and trust tax planning
  10. Financial advisory services
  11. CPA firms
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  13. Financial risk management
  14. Tax resolution services
  15. Accounting for franchises
  16. Income tax preparation
  17. Accounting firm reviews
  18. E-commerce accounting
  19. Accounting for artists
  20. Cash flow management
Understanding that no two businesses are the same, we've developed an approach that's as flexible as it's thorough.

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Self-Employed Tax Services Accountant Services North Vancouver
Self-Employed Tax Services Accountant Services North Vancouver

With our expertise, you can rest assured that your financial well-being is fortified against the unforeseen. But it's not just about the numbers. You'll work directly with our team of seasoned professionals who bring a wealth of knowledge and expertise to the table. A tailored tax strategy that not only smoothed out financial wrinkles but also boosted profitability by 15%.

At IBB Accounting & Tax Services, ensuring your satisfaction isn't just a goal-it's the cornerstone of how we operate.

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  1. Year-end financial statements
  2. Accounting for freelancers
  3. Accounting for rental properties
  4. Business incorporation services
  5. Business tax return preparation
  6. Tax audit assistance
  7. Personal finance consulting
  8. Financial statement preparation
  9. Accounting for medical professionals
  10. Self-employed tax services
  11. Partnership accounting
  12. Tax accounting
  13. Accounting training
  14. Forensic accounting
  15. Professional bookkeeping
  16. Business restructuring accounting
  17. Accounting for import/export businesses
  18. Cloud accounting solutions
Our team's expertise spans across various domains, ensuring you receive comprehensive support whether you're navigating tax planning, financial forecasting, or bookkeeping challenges. IBB Accounting & Tax Services steps in to make this a reality.

Reaching out to them is a breeze.

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  1. Sole proprietorship accounting
  2. HST/GST tax filing
  3. Tax planning
  4. Financial advisory services
  5. CPA firms
  6. Business advisory services
  7. Financial risk management
  8. Tax resolution services
  9. Accounting for franchises
  10. Income tax preparation
  11. Accounting firm reviews
  12. E-commerce accounting
  13. Accounting for artists
  14. Cash flow management
  15. Year-end financial statements
Building on their proactive financial advice, IBB Accounting & Tax Services also excels in managing audits and reviews, ensuring your business remains compliant and confident under scrutiny. They've embraced the latest in software and digital tools to ensure your financial operations aren't just efficient, but also secure.

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  1. Accounting for freelancers
  2. Accounting for rental properties
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  4. Business tax return preparation
  5. Tax audit assistance
  6. Personal finance consulting
  7. Financial statement preparation
  8. Accounting for medical professionals
  9. Self-employed tax services
  10. Partnership accounting
  11. Tax accounting
  12. Accounting training
  13. Forensic accounting
  14. Professional bookkeeping
  15. Business restructuring accounting
  16. Accounting for import/export businesses


Understanding that every business's needs are unique, IBB offers customized accounting solutions tailored specifically to your industry's requirements. We'll manage your payroll operations efficiently, ensuring your employees are paid correctly and on time, every time.

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  1. Accounting for freelancers
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  3. Business incorporation services
  4. Business tax return preparation
  5. Tax audit assistance
  6. Personal finance consulting
  7. Financial statement preparation
  8. Accounting for medical professionals
  9. Self-employed tax services
  10. Partnership accounting
  11. Tax accounting
  12. Accounting training
  13. Forensic accounting
  14. Professional bookkeeping
  15. Business restructuring accounting
  16. Accounting for import/export businesses
  17. Cloud accounting solutions
  18. Small business accounting software
  19. Tax deduction optimization
We pride ourselves on staying ahead of the curve, continuously enriching our skills and knowledge to serve you better.

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Let's simplify your payroll management together. This means you can say goodbye to the days of sifting through piles of paperwork or multiple software systems to get a clear picture of your business's financial health. With their support, you're not just surviving the tax season; you're thriving throughout the year. You'll find their proactive approach not only prepares you for tax season but also positions your business for sustainable growth and profitability. Furthermore, we understand that tax season can be stressful.
They're all about making connections and understanding your unique business needs. For established enterprises in Accountant Services North Vancouver, we offer comprehensive accounting solutions tailored to meet your evolving financial needs.

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  9. Budgeting and forecasting
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  11. Nonprofit accounting
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  13. Debt management
  14. Estate planning accounting
  15. QuickBooks accounting
  16. Accounting for Airbnb hosts
  17. Hospitality industry accounting
  18. Sole proprietorship accounting
  19. HST/GST tax filing
You don't have to take their word for it; their satisfied clients are more than happy to share their positive experiences. You've likely noticed how digital tools are reshaping the landscape, offering solutions that streamline operations, enhance accuracy, and save you precious time.
Each classification comes with its own set of rules and benefits, and knowing where you stand can significantly impact your bottom line. Let's work together to build a financial strategy that's as unique as your business. We meticulously review your financial documents, ensuring every number is accurate and every transaction is correctly recorded. This diversification not only strengthens the economy but also presents unique opportunities and challenges for businesses operating in the area.
But what truly makes them the right choice for securing your financial future? We'll help you navigate the complexities of retirement savings, tax optimization, and estate planning, ensuring that your hard-earned money works for you. They've built a history of excellence by prioritizing your needs, adapting to new laws and technologies, and always offering clear, understandable advice.

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  9. Outsourced accounting services
  10. Budgeting and forecasting
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  19. Sole proprietorship accounting
Moreover, their commitment to transparency means you're always in the loop.

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Affordable Tax Preparation Accountant Services North Vancouver

 

Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations.[1][2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators.[3] Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used interchangeably.[4]

Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting.[5] Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers.[6] Management accounting focuses on the measurement, analysis and reporting of information for internal use by management to enhance business operations.[1][6] The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system.[7] Accounting information systems are designed to support accounting functions and related activities.

Accounting has existed in various forms and levels of sophistication throughout human history. The double-entry accounting system in use today was developed in medieval Europe, particularly in Venice, and is usually attributed to the Italian mathematician and Franciscan friar Luca Pacioli.[8] Today, accounting is facilitated by accounting organizations such as standard-setters, accounting firms and professional bodies. Financial statements are usually audited by accounting firms,[9] and are prepared in accordance with generally accepted accounting principles (GAAP).[6] GAAP is set by various standard-setting organizations such as the Financial Accounting Standards Board (FASB) in the United States[1] and the Financial Reporting Council in the United Kingdom. As of 2012, "all major economies" have plans to converge towards or adopt the International Financial Reporting Standards (IFRS).[10][11]

History

[edit]
Portrait of Luca Pacioli, painted by Jacopo de' Barbari, 1495 (Museo di Capodimonte)

Accounting is thousands of years old and can be traced to ancient civilizations.[12][13][14] One early development of accounting dates back to ancient Mesopotamia and is closely related to developments in writing, counting and money;[12] there is also evidence of early forms of bookkeeping in ancient Iran,[15][16] and early auditing systems by the ancient Egyptians and Babylonians.[13] By the time of Emperor Augustus, the Roman government had access to detailed financial information.[17]

Many concepts related to today's accounting seem to be initiated in medieval's Middle East. For example, Jewish communities used double-entry bookkeeping in the early-medieval period[18][19] and Muslim societies, at least since the 10th century also used many modern accounting concepts.[20]

The spread of the use of Arabic numerals, instead of the Roman numbers historically used in Europe, increased efficiency of accounting procedures among Mediterranean merchants,[21] who further refined accounting in medieval Europe.[22] With the development of joint-stock companies, accounting split into financial accounting and management accounting.

The first published work on a double-entry bookkeeping system was the Summa de arithmetica, published in Italy in 1494 by Luca Pacioli (the "Father of Accounting").[23][24] Accounting began to transition into an organized profession in the nineteenth century,[25][26] with local professional bodies in England merging to form the Institute of Chartered Accountants in England and Wales in 1880.[27]

Etymology

[edit]
Early 19th-century ledger

Both the words "accounting" and "accountancy" were in use in Great Britain by the mid-1800s and are derived from the words accompting and accountantship used in the 18th century.[28] In Middle English (used roughly between the 12th and the late 15th century), the verb "to account" had the form accounten, which was derived from the Old French word aconter,[29] which is in turn related to the Vulgar Latin word computare, meaning "to reckon". The base of computare is putare, which "variously meant to prune, to purify, to correct an account, hence, to count or calculate, as well as to think".[29]

The word "accountant" is derived from the French word compter, which is also derived from the Italian and Latin word computare. The word was formerly written in English as "accomptant", but in process of time the word, which was always pronounced by dropping the "p", became gradually changed both in pronunciation and in orthography to its present form.[30]

Terminology

[edit]

Accounting has variously been defined as the keeping or preparation of the financial records of transactions of the firm, the analysis, verification and reporting of such records and "the principles and procedures of accounting"; it also refers to the job of being an accountant.[31][32][33]

Accountancy refers to the occupation or profession of an accountant,[34][35][36] particularly in British English.[31][32]

Topics

[edit]

Accounting has several subfields or subject areas, including financial accounting, management accounting, auditing, taxation and accounting information systems.[5]

Financial accounting

[edit]

Financial accounting focuses on the reporting of an organization's financial information to external users of the information, such as investors, potential investors and creditors. It calculates and records business transactions and prepares financial statements for the external users in accordance with generally accepted accounting principles (GAAP).[6] GAAP, in turn, arises from the wide agreement between accounting theory and practice, and changes over time to meet the needs of decision-makers.[1]

Financial accounting produces past-oriented reports—for example financial statements are often published six to ten months after the end of the accounting period—on an annual or quarterly basis, generally about the organization as a whole.[6]

Management accounting

[edit]

Management accounting focuses on the measurement, analysis and reporting of information that can help managers in making decisions to fulfill the goals of an organization. In management accounting, internal measures and reports are based on cost–benefit analysis, and are not required to follow the generally accepted accounting principle (GAAP).[6] In 2014 CIMA created the Global Management Accounting Principles (GMAPs). The result of research from across 20 countries in five continents, the principles aim to guide best practice in the discipline.[37]

Management accounting produces past-oriented reports with time spans that vary widely, but it also encompasses future-oriented reports such as budgets. Management accounting reports often include financial and non financial information, and may, for example, focus on specific products and departments.[6]

Intercompany accounting

[edit]

Intercompany accounting focuses on the measurement, analysis and reporting of information between separate entities that are related, such as a parent company and its subsidiary companies. Intercompany accounting concerns record keeping of transactions between companies that have common ownership such as a parent company and a partially or wholly owned subsidiary. Intercompany transactions are also recorded in accounting when business is transacted between companies with a common parent company (subsidiaries).[38][39]

Auditing

[edit]

Auditing is the verification of assertions made by others regarding a payoff,[40] and in the context of accounting it is the "unbiased examination and evaluation of the financial statements of an organization".[41] Audit is a professional service that is systematic and conventional.[42]

An audit of financial statements aims to express or disclaim an independent opinion on the financial statements. The auditor expresses an independent opinion on the fairness with which the financial statements presents the financial position, results of operations, and cash flows of an entity, in accordance with the generally accepted accounting principles (GAAP) and "in all material respects". An auditor is also required to identify circumstances in which the generally accepted accounting principles (GAAP) have not been consistently observed.[43]

Information systems

[edit]

An accounting information system is a part of an organization's information system used for processing accounting data.[44] Many corporations use artificial intelligence-based information systems. The banking and finance industry uses AI in fraud detection. The retail industry uses AI for customer services. AI is also used in the cybersecurity industry. It involves computer hardware and software systems using statistics and modeling.[45]

Many accounting practices have been simplified with the help of accounting computer-based software. An enterprise resource planning (ERP) system is commonly used for a large organisation and it provides a comprehensive, centralized, integrated source of information that companies can use to manage all major business processes, from purchasing to manufacturing to human resources. These systems can be cloud based and available on demand via application or browser, or available as software installed on specific computers or local servers, often referred to as on-premise.

Tax accounting

[edit]

Tax accounting in the United States concentrates on the preparation, analysis and presentation of tax payments and tax returns. The U.S. tax system requires the use of specialised accounting principles for tax purposes which can differ from the generally accepted accounting principles (GAAP) for financial reporting.[46] U.S. tax law covers four basic forms of business ownership: sole proprietorship, partnership, corporation, and limited liability company. Corporate and personal income are taxed at different rates, both varying according to income levels and including varying marginal rates (taxed on each additional dollar of income) and average rates (set as a percentage of overall income).[46]

Forensic accounting

[edit]

Forensic accounting is a specialty practice area of accounting that describes engagements that result from actual or anticipated disputes or litigation.[47] "Forensic" means "suitable for use in a court of law", and it is to that standard and potential outcome that forensic accountants generally have to work.

Political campaign accounting

[edit]

Political campaign accounting deals with the development and implementation of financial systems and the accounting of financial transactions in compliance with laws governing political campaign operations. This branch of accounting was first formally introduced in the March 1976 issue of The Journal of Accountancy.[48]

Organizations

[edit]

Professional bodies

[edit]

Professional accounting bodies include the American Institute of Certified Public Accountants (AICPA) and the other 179 members of the International Federation of Accountants (IFAC),[49] including Institute of Chartered Accountants of Scotland (ICAS), Institute of Chartered Accountants of Pakistan (ICAP), CPA Australia, Institute of Chartered Accountants of India, Association of Chartered Certified Accountants (ACCA) and Institute of Chartered Accountants in England and Wales (ICAEW). Some countries have a single professional accounting body and, in some other countries, professional bodies for subfields of the accounting professions also exist, for example the Chartered Institute of Management Accountants (CIMA) in the UK and Institute of management accountants in the United States.[50] Many of these professional bodies offer education and training including qualification and administration for various accounting designations, such as certified public accountant (AICPA) and chartered accountant.[51][52]

Firms

[edit]

Depending on its size, a company may be legally required to have their financial statements audited by a qualified auditor, and audits are usually carried out by accounting firms.[9]

Accounting firms grew in the United States and Europe in the late nineteenth and early twentieth century, and through several mergers there were large international accounting firms by the mid-twentieth century. Further large mergers in the late twentieth century led to the dominance of the auditing market by the "Big Five" accounting firms: Arthur Andersen, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers.[53] The demise of Arthur Andersen following the Enron scandal reduced the Big Five to the Big Four.[54]

Standard-setters

[edit]

Generally accepted accounting principles (GAAP) are accounting standards issued by national regulatory bodies. In addition, the International Accounting Standards Board (IASB) issues the International Financial Reporting Standards (IFRS) implemented by 147 countries.[1] Standards for international audit and assurance, ethics, education, and public sector accounting are all set by independent standard settings boards supported by IFAC. The International Auditing and Assurance Standards Board sets international standards for auditing, assurance, and quality control; the International Ethics Standards Board for Accountants (IESBA)[55] sets the internationally appropriate principles-based Code of Ethics for Professional Accountants; the International Accounting Education Standards Board (IAESB) sets professional accounting education standards;[56] and International Public Sector Accounting Standards Board (IPSASB) sets accrual-based international public sector accounting standards.[57][4]

Organizations in individual countries may issue accounting standards unique to the countries. For example, in Australia, the Australian Accounting Standards Board manages the issuance of the accounting standards in line with IFRS. In the United States the Financial Accounting Standards Board (FASB) issues the Statements of Financial Accounting Standards, which form the basis of US GAAP,[1] and in the United Kingdom the Financial Reporting Council (FRC) sets accounting standards.[58] However, as of 2012 "all major economies" have plans to converge towards or adopt the IFRS.[10]

Education, training and qualifications

[edit]

Degrees

[edit]

At least a bachelor's degree in accounting or a related field is required for most accountant and auditor job positions, and some employers prefer applicants with a master's degree.[59] A degree in accounting may also be required for, or may be used to fulfill the requirements for, membership to professional accounting bodies. For example, the education during an accounting degree can be used to fulfill the American Institute of CPA's (AICPA) 150 semester hour requirement,[60] and associate membership with the Certified Public Accountants Association of the UK is available after gaining a degree in finance or accounting.[61]

A doctorate is required in order to pursue a career in accounting academia, for example, to work as a university professor in accounting.[62][63] The Doctor of Philosophy (PhD) and the Doctor of Business Administration (DBA) are the most popular degrees. The PhD is the most common degree for those wishing to pursue a career in academia, while DBA programs generally focus on equipping business executives for business or public careers requiring research skills and qualifications.[62]

Professional qualifications

[edit]

Professional accounting qualifications include the chartered accountant designations and other qualifications including certificates and diplomas.[64] In Scotland, chartered accountants of ICAS undergo Continuous Professional Development and abide by the ICAS code of ethics.[65] In England and Wales, chartered accountants of the ICAEW undergo annual training, and are bound by the ICAEW's code of ethics and subject to its disciplinary procedures.[66]

In the United States, the requirements for joining the AICPA as a Certified Public Accountant are set by the Board of Accountancy of each state, and members agree to abide by the AICPA's Code of Professional Conduct and Bylaws.

The ACCA is the largest global accountancy body with over 320,000 members, and the organisation provides an 'IFRS stream' and a 'UK stream'. Students must pass a total of 14 exams, which are arranged across three levels.[67]

Research

[edit]

Accounting research is research in the effects of economic events on the process of accounting, the effects of reported information on economic events, and the roles of accounting in organizations and society.[68][69] It encompasses a broad range of research areas including financial accounting, management accounting, auditing and taxation.[70]

Accounting research is carried out both by academic researchers and practicing accountants. Methodologies in academic accounting research include archival research, which examines "objective data collected from repositories"; experimental research, which examines data "the researcher gathered by administering treatments to subjects"; analytical research, which is "based on the act of formally modeling theories or substantiating ideas in mathematical terms"; interpretive research, which emphasizes the role of language, interpretation and understanding in accounting practice, "highlighting the symbolic structures and taken-for-granted themes which pattern the world in distinct ways"; critical research, which emphasizes the role of power and conflict in accounting practice; case studies; computer simulation; and field research.[71][72]

Empirical studies document that leading accounting journals publish in total fewer research articles than comparable journals in economics and other business disciplines,[73] and consequently, accounting scholars[74] are relatively less successful in academic publishing than their business school peers.[75] Due to different publication rates between accounting and other business disciplines, a recent study based on academic author rankings concludes that the competitive value of a single publication in a top-ranked journal is highest in accounting and lowest in marketing.[76]

Scandals

[edit]

The year 2001 witnessed a series of financial information frauds involving Enron, auditing firm Arthur Andersen, the telecommunications company WorldCom, Qwest and Sunbeam, among other well-known corporations. These problems highlighted the need to review the effectiveness of accounting standards, auditing regulations and corporate governance principles. In some cases, management manipulated the figures shown in financial reports to indicate a better economic performance. In others, tax and regulatory incentives encouraged over-leveraging of companies and decisions to bear extraordinary and unjustified risk.[77]

The Enron scandal deeply influenced the development of new regulations to improve the reliability of financial reporting, and increased public awareness about the importance of having accounting standards that show the financial reality of companies and the objectivity and independence of auditing firms.[77]

In addition to being the largest bankruptcy reorganization in American history, the Enron scandal undoubtedly is the biggest audit failure[78] causing the dissolution of Arthur Andersen, which at the time was one of the five largest accounting firms in the world. After a series of revelations involving irregular accounting procedures conducted throughout the 1990s, Enron filed for Chapter 11 bankruptcy protection in December 2001.[79]

One consequence of these events was the passage of the Sarbanes–Oxley Act in the United States in 2002, as a result of the first admissions of fraudulent behavior made by Enron. The act significantly raises criminal penalties for securities fraud, for destroying, altering or fabricating records in federal investigations or any scheme or attempt to defraud shareholders.[80]

Fraud and error

[edit]

Accounting fraud is an intentional misstatement or omission in the accounting records by management or employees which involves the use of deception. It is a criminal act and a breach of civil tort. It may involve collusion with third parties.[81]

An accounting error is an unintentional misstatement or omission in the accounting records, for example misinterpretation of facts, mistakes in processing data, or oversights leading to incorrect estimates.[81] Acts leading to accounting errors are not criminal but may breach civil law, for example, the tort of negligence.

The primary responsibility for the prevention and detection of fraud and errors rests with the entity's management.[81]

See also

[edit]

References

[edit]
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[edit]

 

 

North Vancouver
The Corporation of the City of North Vancouver
Nickname: 
North Van
Location of the City of North Vancouver in Metro Vancouver
Location of the City of North Vancouver in Metro Vancouver
Coordinates: 49°19′N 123°4′W / 49.317°N 123.067°W / 49.317; -123.067
Country Canada
Province British Columbia
Regional district Metro Vancouver
Incorporated May 13, 1907[1]
Seat North Vancouver City Hall
Government
 • Type Mayor-council government
 • Mayor Linda Buchanan
 • Council
List of councillors
 • MP Jonathan Wilkinson (Liberal)
 • MLA Bowinn Ma (BC NDP)
Area
 • Land 11.83 km2 (4.57 sq mi)
Elevation
 
80 m (260 ft)
Population
 (2021)[3]
 • Total
58,120
 • Estimate 
(2023)[4]
64,847
 • Density 4,913.0/km2 (12,725/sq mi)
Demonym North Vancouverite
Time zone UTC-8 (PST)
 • Summer (DST) UTC-7 (PDT)
Forward sortation area
Area codes 604, 778, 236, 672
Website cnv.org Edit this at Wikidata

The City of North Vancouver is a city municipality on the North Shore of the Burrard Inlet, in British Columbia, Canada. Anchored by the downtown town centre of Lonsdale, with which its urban core is largely synonymous, it consists of the smallest and most urbanized of the communities situated north of the city of Vancouver, and is part of the Metro Vancouver regional district, though it has significant industry of its own – including shipping, chemical production, and film production. The city is served by the Royal Canadian Mounted Police, British Columbia Ambulance Service, and the North Vancouver City Fire Department.

History

[edit]

In the 1880s, Arthur Heywood-Lonsdale and a relation James Pemberton Fell, made substantial investments through their company, Lonsdale Estates, and in 1882 he financed the Moodyville investments. Several locations in the North Vancouver area are named after Lonsdale and his family.[5]

Not long after the District of North Vancouver was formed, an early land developer and second reeve of the new council, James Cooper Keith, personally underwrote a loan[6] to commence construction of a road which undulated from West Vancouver to Deep Cove amid the slashed sidehills, swamps, and burnt stumps. The road, sometimes under different names and not always contiguous, is still one of the most important east-west thoroughfare carrying traffic across the North Shore.

Development was slow at the outset. The population of the district in the 1901 census was only 365 people.[6] Keith joined Edwin Mahon and together they controlled North Vancouver Land & Improvement Company. Soon the pace of development around the foot of Lonsdale began to pick up. The first school was opened in 1902. The district was able to build a municipal hall in 1903 and actually have meetings in North Vancouver (instead of in Vancouver where most of the landowners lived).[citation needed] The first bank and first newspaper arrived in 1905. In 1906 the BC Electric Railway Company opened up a street car line that extended from the ferry wharf up Lonsdale to 12th Street. By 1911 the streetcar system extended west to the Capilano River and east to Lynn Valley.[citation needed]

The owners of businesses who operated on Lonsdale, as part of an initiative led by Keith and Mahon, brought a petition to the district council in 1905, calling for a new, compact city to be carved out of the unwieldy district.[citation needed]

During the ensuing two years there was much and sometimes heated debate. Some thought the new city should have a new name such as Northport, Hillmont or Parkhill. Burrard became the favourite of the new names but majority view was that North Vancouver remain in order to remain associated with the rising credibility of Vancouver in financial markets and as a place to attract immigrants.[7]

Some thought the boundary of the new city should reflect geography and extend from Lynn Creek or Seymour River west to the Capilano River and extend three miles up the mountainside.[citation needed] That the boundary of the city which came into existence in 1907 just happened to match that of the lands owned by the North Vancouver Land & Improvement Company and Lonsdale Estate was no accident. Since the motivation for creating the city was to reserve local tax revenue for the work of putting in services for the property owned by the major developers, there was little reason to take on any of the burden beyond the extent of their holdings.[citation needed]

Residents in west part of the District of North Vancouver now had less reason to be connected with what remained and they petitioned to create the District of West Vancouver (the west part of the North Shore, not the west side of Vancouver) in 1912.[citation needed] The eastern boundary of that new municipality is for the most part the Capilano River and a community that is easily distinguished from the two North Vancouvers has since developed.

Keith Road looking west, with Hollyburn Mtn in the distance

The City of North Vancouver continued to grow around the foot of Lonsdale Avenue. Serviced by the North Vancouver Ferries, it proved a popular area. Commuters used the ferries to work in Vancouver. Street cars and early land speculation, spurred interest in the area. Streets, city blocks and houses were slowly built around lower Lonsdale. Wallace Shipyards, and the Pacific Great Eastern Railway provided an industrial base, although, the late arrival of the Second Narrows railway bridge in 1925 controlled development.

City of North Vancouver as seen from Upper Lonsdale

The Depression again bankrupted the city, while the Second World War turned North Vancouver into the Clydeside of Canada with a large shipbuilding program. Housing the shipyard workers provided a new building boom, which continued on through the post-war years. By that time, North Vancouver became a popular housing area.

Geography

[edit]
Main thoroughfare Lonsdale Avenue with Mount Fromme in the background

The City of North Vancouver is separated from Vancouver by the Burrard Inlet, and it is surrounded on three sides by the District of North Vancouver. The city has much in common with the district and with West Vancouver; together, the three are commonly referred to as the North Shore.

The City of North Vancouver is relatively densely populated with a number of residential high-rise buildings in the Central Lonsdale and Lower Lonsdale areas.

The North Shore mountains have many drainages: Capilano River, MacKay, Mosquito, and Lynn Creeks, and Seymour River.

Climate

[edit]

North Vancouver has an oceanic climate (Köppen Cfb) with cool, rainy winters and dry, warm summers.

Climate data for North Vancouver (N Vancouver 2ND Narrows) (Elevation: 4m) 1981−2010
Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
Average precipitation mm (inches) 262.2
(10.32)
172.3
(6.78)
168.4
(6.63)
136.3
(5.37)
103.3
(4.07)
82.5
(3.25)
53.2
(2.09)
54.9
(2.16)
76.8
(3.02)
189.0
(7.44)
293.4
(11.55)
238.6
(9.39)
1,830.8
(72.08)
Average rainfall mm (inches) 255.3
(10.05)
167.7
(6.60)
166.8
(6.57)
136.1
(5.36)
103.3
(4.07)
82.5
(3.25)
53.2
(2.09)
54.9
(2.16)
76.8
(3.02)
189.0
(7.44)
290.2
(11.43)
229.9
(9.05)
1,805.6
(71.09)
Average snowfall cm (inches) 6.9
(2.7)
5.2
(2.0)
1.6
(0.6)
0.2
(0.1)
0.0
(0.0)
0.0
(0.0)
0.0
(0.0)
0.0
(0.0)
0.0
(0.0)
0.1
(0.0)
2.3
(0.9)
8.7
(3.4)
24.9
(9.8)
Average precipitation days (≥ 0.2 mm) 20.5 15.5 18.0 15.4 13.8 11.7 7.4 6.7 9.6 16.1 20.9 20.3 175.9
Average rainy days (≥ 0.2 mm) 19.7 15.1 17.9 15.4 13.8 11.7 7.4 6.7 9.6 16.0 20.7 19.6 173.5
Average snowy days (≥ 0.2 cm) 1.7 0.92 0.54 0.12 0.0 0.0 0.0 0.0 0.0 0.08 0.72 2.2 6.2
Source: Environment Canada (normals, 1981−2010)[8]

Politics

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Mayor Linda Buchanan (2018, 2022)
Councillors Holly Back (2018, 2022), Don Bell (2011, 2014, 2018, 2022), Angela Girard (2018, 2022), Jessica McIlroy (2018, 2022), Tony Valente (2018, 2022), Shervin Shahriari (2022)
Provincial MLA Bowinn Ma (North Vancouver-Lonsdale)
MP Jonathan Wilkinson (North Vancouver)

Sites of interest

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The area around lower Lonsdale Avenue features several open community spaces, including Waterfront Park, Lonsdale Quay, Ship Builders Square and the Burrard Dry Dock Pier.

Other sites of interest in the city include:[9][10][11]

  • Centennial Theatre, 2300 Lonsdale Avenue
  • First Church of Christ, Scientist, a local heritage site
  • The Museum and Archives of North Vancouver
  • The Polygon Gallery
  • Presentation House Theatre, 333 Chesterfield Avenue
  • St. Edmund's Church, 535 Mahon Avenue, a local heritage site
  • Trans Canada Trail Pavilion, Waterfront Park
  • The Shipyards, near Lonsdale Quay, which includes Ship Builders Square and the Burrard Dry Dock Pier, on the site of the old Wallace Shipyard
  • Lonsdale Quay Market, easily accessible from the Seabus. The Quay has a view of Vancouver's skyline and is locally owned and operated.

Transportation

[edit]
Lonsdale Avenue at 13th Street is a major intersection of Central Lonsdale.

The City of North Vancouver is connected to Vancouver by two highway bridges (the Lions Gate Bridge and the Ironworkers Memorial Second Narrows Crossing) and by a passenger ferry, the SeaBus. That system and the bus system in North Vancouver is operated by Coast Mountain Bus Company, an operating company of TransLink. The hub of the bus system is Lonsdale Quay, the location of the SeaBus terminal. Currently, there is no rail transit service on the North Shore.

The main street in the city is Lonsdale Avenue, which begins at Lonsdale Quay and goes north to 29th Street, where it continues in the District of North Vancouver, ending at Rockland Road.

Highway 1, the Trans-Canada Highway (often referred to as the "Upper Levels Highway") passes through the northern portion of the city. It is a freeway for its entire length within the City of North Vancouver. There are six interchanges on Highway 1 within the City of North Vancouver:

  • Main Street/Dollarton Highway (Exit 23)
  • Mountain Highway and Mt Seymour Parkway (Exit 21/22)
  • Lynn Valley Road (Exit 19)
  • Lonsdale Avenue (Exit 18)
  • Westview Drive (Exit 17)
  • Capilano Road (Exit 14)

Education

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Public schools are managed by the North Vancouver School District, which operates 8 high schools and 30 elementary schools shared by the city and the District of North Vancouver.

The Conseil scolaire francophone de la Colombie-Britannique operates one Francophone school in that city: école André-Piolat, which has both primary and secondary levels.[12]

There are also several independent private elementary and high schools in the area, including Bodwell High School and Lions Gate Christian Academy.

Post-secondary education is available at Capilano University in the district, as well as at Simon Fraser University and the University of British Columbia in neighbouring communities.

Demographics

[edit]
Historical populations
Year Pop. ±%
1911 8,196 —    
1921 7,652 −6.6%
1931 8,510 +11.2%
1941 8,914 +4.7%
1951 15,687 +76.0%
1961 23,656 +50.8%
1971 31,847 +34.6%
1981 33,640 +5.6%
1991 41,475 +23.3%
2001 44,303 +6.8%
2006 45,165 +1.9%
2011 48,196 +6.7%
2016 52,898 +9.8%
2021 58,120 +9.9%

In the 2021 Census of Population conducted by Statistics Canada, North Vancouver had a population of 58,120 living in 27,293 of its 29,021 total private dwellings, a change of 9.9% from its 2016 population of 52,898. With a land area of 11.83 km2 (4.57 sq mi), it had a population density of 4,912.9/km2 (12,724.4/sq mi) in 2021.[3]

As of the 2011 census, the median age was 41.2 years old, which is a bit higher than the national median age at 40.6 years old. There are 24,206 private dwellings with an occupancy rate of 94.1%. According to the 2011 National Household Survey, the median value of a dwelling in North Vancouver is $599,985 which is significantly higher than the national average at $280,552. The median household income (after-taxes) in North Vancouver is $52,794, a bit lower than the national average at $54,089.

Ethnicity

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North Vancouver has one of the highest Middle Eastern[a] population ratios for any Canadian city at 11.3% as of 2021, with the vast majority being Persian.[13]

Panethnic groups in the City of North Vancouver (2001−2021)
Panethnic
group
2021[13] 2016[14] 2011[15] 2006[16] 2001[17]
Pop. % Pop. % Pop. % Pop. % Pop. %
European[b] 35,420 61.59% 34,695 66.48% 32,800 68.78% 32,160 71.69% 32,960 75.03%
Middle Eastern[a] 6,510 11.32% 4,575 8.77% 3,655 7.66% 3,155 7.03% 3,015 6.86%
East Asian[c] 5,195 9.03% 4,260 8.16% 3,775 7.92% 3,995 8.91% 3,255 7.41%
Southeast Asian[d] 4,220 7.34% 3,715 7.12% 3,470 7.28% 2,150 4.79% 1,650 3.76%
South Asian 2,100 3.65% 1,840 3.53% 1,475 3.09% 1,340 2.99% 980 2.23%
Indigenous 1,230 2.14% 1,150 2.2% 970 2.03% 925 2.06% 1,015 2.31%
Latin American 1,210 2.1% 840 1.61% 585 1.23% 430 0.96% 470 1.07%
African 550 0.96% 485 0.93% 390 0.82% 315 0.7% 315 0.72%
Other[e] 1,075 1.87% 630 1.21% 575 1.21% 385 0.86% 275 0.63%
Total responses 57,505 98.94% 52,185 98.65% 47,685 98.94% 44,860 99.32% 43,930 99.16%
Total population 58,120 100% 52,898 100% 48,196 100% 45,165 100% 44,303 100%
  • Note: Totals greater than 100% due to multiple origin responses.
 

Languages

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Mother languages as reported by each person:

Canada 2021 Census[13]
Mother language Population % of Total Population % of Non-official language Population
English 35,520 61.4% N/A
Persian 5,760 10.0% 31.1%
Tagalog 1,675 2.9% 9.0%
Chinese Languages 1,670 2.9% 9.0%
Spanish 1,245 2.2% 6.7%
Korean 1,135 6.1% 6.1%
French 980 1.7% N/A
German 575 1.0% 3.1%

3.1% of North Vancouver residents listed both English and a non-official language as mother tongues.

Religion

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According to the 2021 census, religious groups in North Vancouver included:[13]

Notes

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  1. ^ a b Statistic includes total responses of "West Asian" and "Arab" under visible minority section on census.
  2. ^ Statistic includes all persons that did not make up part of a visible minority or an indigenous identity.
  3. ^ Statistic includes total responses of "Chinese", "Korean", and "Japanese" under visible minority section on census.
  4. ^ Statistic includes total responses of "Filipino" and "Southeast Asian" under visible minority section on census.
  5. ^ Statistic includes total responses of "Visible minority, n.i.e." and "Multiple visible minorities" under visible minority section on census.

References

[edit]
  1. ^ "CivicInfo BC | Municipality: North Vancouver (City)". www.civicinfo.bc.ca. Archived from the original on 25 September 2022. Retrieved 19 August 2022.
  2. ^ "Mayor & Council | City of North Vancouver". www.cnv.org. Archived from the original on 19 August 2022. Retrieved 19 August 2022.
  3. ^ a b c "Profile table, Census Profile, 2021 Census of Population - North Vancouver, City (CY) [Census subdivision], British Columbia". Statistics Canada. 17 August 2022. Retrieved 21 August 2022.
  4. ^ Services, Ministry of Citizens'. "Population Estimates - Province of British Columbia". www2.gov.bc.ca. Archived from the original on 3 July 2024. Retrieved 4 July 2024.
  5. ^ Canada North Shore News
  6. ^ a b Francis, Daniel (2016). Where Mountains Meet the Sea. Harbour Publishing Co. P.O. Box 219, Madeira Park, BC V0N 2H0: Harbour Publishing. p. 77. ISBN 978-1-55017-751-0.cite book: CS1 maint: location (link)
  7. ^ Sommer, Warren (2007). The Ambitious City: A History of the City of North Vancouver. Madeira Park, BC V0N 2H0: Harbour Publishing. pp. 64, 83, 93, 94. ISBN 978-1-55017-411-3.cite book: CS1 maint: location (link)
  8. ^ "N VANCOUVER 2ND NARROWS]". Canadian Climate Normals 1981−2010. 25 September 2013. Archived from the original on 27 March 2018. Retrieved 26 March 2018.
  9. ^ "HistoricPlaces.ca - Recherche". www.historicplaces.ca. Archived from the original on 27 November 2021. Retrieved 19 August 2022.
  10. ^ "Attractions in North Vancouver". Archived from the original on 23 July 2012. Retrieved 25 May 2009.
  11. ^ "Primary Buildings". Archived from the original on 19 August 2007.
  12. ^ "Carte des écoles Archived 17 August 2015 at the Wayback Machine." Conseil scolaire francophone de la Colombie-Britannique. Retrieved on 22 January 2015.
  13. ^ a b c d Government of Canada, Statistics Canada (26 October 2022). "Census Profile, 2021 Census of Population". www12.statcan.gc.ca. Archived from the original on 10 November 2022. Retrieved 9 November 2022.
  14. ^ Government of Canada, Statistics Canada (27 October 2021). "Census Profile, 2016 Census". www12.statcan.gc.ca. Archived from the original on 27 December 2022. Retrieved 26 December 2022.
  15. ^ Government of Canada, Statistics Canada (27 November 2015). "NHS Profile". www12.statcan.gc.ca. Archived from the original on 27 December 2022. Retrieved 26 December 2022.
  16. ^ Government of Canada, Statistics Canada (20 August 2019). "2006 Community Profiles". www12.statcan.gc.ca. Archived from the original on 27 December 2022. Retrieved 26 December 2022.
  17. ^ Government of Canada, Statistics Canada (2 July 2019). "2001 Community Profiles". www12.statcan.gc.ca. Archived from the original on 27 December 2022. Retrieved 26 December 2022.
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