The IASB issued new disclosure requirements to enhance the transparency of supplier finance arrangements. Read our article to learn about the amendments and the types of transactions that are supplier finance arrangements. As reported by The Standard. Read now   Visit TheGAAP.net daily to be kept up to date on accounting information, trends and changes. TheGAAP.net is best known for

Join financial statement user representatives from the AcSB and the IASB for a discussion on the IASB’s Third Agenda Consultation and Targeted Standards Level Review of Disclosures on July 7, 2021. Learn about key proposals and provide valuable user feedback. Register now and help shape standards at both the national and international level! Register now

The IASB issued an amendment to extend the scope of the optional exemption for COVID-19-related rent concessions by one year to June 30, 2022. The AcSB will incorporate the amendment, as well as the amendments to the Basis for Conclusions, into the CPA Canada Handbook upon completion of its due process activities. As reported by The Standard. Find out more

Analyzing IFRS Financial Statements…What are the differences Webinar – Sponsored by CTAP Inc. “Your Virtual SR&ED Team” Join us on Oct 25th. 1:00 to 2:00 p.m. 1 CPD hour $149.00 plus H.S.T. Course Description The adoption of IFRS has resulted in some significant changes when it comes to analyzing financial statements. For example, how do you compare the GAAP statements

From IFRS.org: “IFRS 17 is effective for annual reporting periods beginning on or after 1 January 2021 with earlier application permitted if IFRS 9 and IFRS 15 are also applied. Insurance contracts combine features of both a financial instrument and a service contract. In addition, many insurance contracts generate cash flows with substantial variability over a long period. To provide

By issuing International Financial Reporting Standard #13 (IFRS 13), the International Accounting Standards Board (IASB) defines fair value, sets out a framework for measuring fair value, and requires disclosures about fair value measurements. The IASB says IFRS 13 applies when another Standard “requires or permits fair value measurements or disclosures about fair value measurements (and measurements based on fair value,