Posted by & filed under Accounting Principles, All Articles, Financial Accounting, IFRS, Intermediate Accounting, International Accounting, Video Updates.

Canada started rolling out new, polymer-based $100 bills two years ago, followed by 50s and then, last November, 20s. The money, which isslick like a sheet of plastic, hard to fold and partly transparent, is more difficult to counterfeit than Canada’s old paper-and-cotton bills. Australia and New Zealand have used similar, plasticized notes for years.

Questions:
1. Based on the article, what are at least two problems with the new currency bills?
2. What was the controversy with the the $100 note?
3. What is the maple leaf controversy on the $20 bill?
4. What other countries have had currency problems and why?

Source:

Johnson, K. (2013). Canada’s New Banknotes Strike Some as Loonie. The Wall Street Journal, Feb. 15 (Retrievable online at http://online.wsj.com/article/SB10001424127887323511804578297993757700724.html?mod=WSJ_hp_EditorsPicks)

WSJ Video. (2013). Paper or Plastic? Dollar Bills, That is! (Retrievable online at http://on.wsj.com/YkPqkq)