Adviser alerts
Accounting for the HST
The July 1, 2010 switchover to HST in Ontario and BC has impacted many areas of business and may also have a financial statement impact, including adjustments to the carrying amount of certain balance sheet items as well as prospective impacts on the income statement. [July 28, 2010] More...
Financial reporting by certain government organizations (amendments to the introduction)—an update
A summary of the approved amendments to the July 2009 Public Sector Accounting Board (PSAB) issued Exposure Draft, which exposed amendments to the introduction to the PSA Handbook. [October 19, 2009] More...
Financial reporting by certain government organizations (amendments to the introduction)
A summary of the July 2009 Public Sector Accounting Board (PSAB) issued Exposure Draft, which exposes amendments to the introduction to the PSA Handbook. [September 2, 2009] More...
Amendments to IFRS 1—first-time adoption of IFRS
In July 2009, the International Accounting Standards Board (IASB) issued Additional Exemptions for First-time Adopters. These amendments were previously exposed in an Exposure Draft in September 2008 and are often referred to as the “Canadian amendments." [July 27, 2009] More...
IFRS changeover issues
The Accounting Standards Board (AcSB) issued its second omnibus Exposure Draft that reaffirms the AcSB’s commitment to adopt IFRS for PAEs for interim and annual financial statements relating to fiscal years beginning on or after January 1, 2011. [June 11, 2009] More...
Financial reporting update for pensions plans
For fiscal years beginning on or after October 1, 2007, new CICA sections will be applicable for 2008 financial statements for pension plans with calendar year ends. There are limited exceptions from application for certain entities, including non-publicly accountable enterprises and not-for-profit organizations. [March 11, 2009] More...
Financial instruments for Not-for-profit organizations
At the September 23-24 meeting, the Accounting Standards Board (AcSB) decided that a private enterprise will not be required to apply the current suite of financial instruments standards. [October 23, 2008] More...
Financial instruments for co-ops and rate-regulated enterprises
Application of financial instruments standards to co-operative business enterprises and rate-regulated enterprises [October 23, 2008] More...
Definition of Publicly Accountable Enterprises (PAEs)
In April 2008, the AcSB issued an omnibus Exposure Draft “Adopting IFRSs in Canada” which required that PAEs adopt IFRS for fiscal years beginning on or after January 1, 2011. [October 21, 2008] More...
Financial instruments for private enterprises - update
At the meetings of September 23 and 24 of 2008, the Accounting Standards Board (AcSB) decided that a private enterprise will not be required to apply the current financial instruments standards. [October 3, 2008] More...
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