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Changes to Lease Accounting – joint IASB/FASB exposure draft released
On August 17, 2010, the FASB and IASB issued exposure drafts proposing a new approach to lease accounting that would significantly change the way entities account for leases. Once finalized,… Read more
KPMG: Segment Reporting – The Application of IFRS – Executive Summary
The Application of IFRS: Segment Reporting – Executive Summary is based on a review of the most recent consolidated financial statements of randomly selected companies within the Fortune 500 that… Read more
CICA publication – The IFRS Changeover – A Guide for Users of Financial Reports
In The IFRS Changeover – A Guide for Users of Financial Reports, the Canadian Performance Reporting Board (CPRB) focuses on raising awareness in the user community about the effect of… Read more
MD&A – CSA Disclosure of Expected Changes in Accounting Policies Relating to Changeover to IFRS
With the changeover to IFRS effective January 1, 2011, most entities in Canada should be well advanced with their IFRS changeover plans. The Canadian Securities Administrators’ (CSA) Staff Notice 52-320… Read more
Transition to IFRSs — Communicating the Impact of the Changeover
The Canadian Performance Reporting Board (CPRB) October 2008 publication Pre-2011 Communications about IFRS Conversion provided guidance about reporting progress towards IFRS conversion. Transition to IFRSs — Communicating the Impact of… Read more
What are the minimum line items that should be included in the balance sheet prepared using IFRS?
The minimum line items that should be included in the balance sheet are: a. Property, plant, and equipment (PPE) b. Investment property c. Intangible assets d. Financial assets (excluding amounts… Read more