TheGAAP.net is pleased to announce the availability of IFRS Simplified: by Mike Morley IFRS Simplified is a fast and easy to understand overview of the new International Financial Reporting Standards.
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Everyone has twenty four hours each day for a lifetime. Time is constant, yet we are not. We consistently ask ourselves “Where did the time go?” How each of us manages our time is a reflection of our personality type, our lifestyle, our beliefs, our abilities, our expectations, and the expectations and demands placed upon us by others. What can
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The principle of comparability refers to the ability to compare financial statements from year-to-year, company-to-company, and industry-to-industry. IFRS requires that financial statements focus primarily on the needs of the users of the financial statements rather than the desires of those producing the statements. Comparability is one feature that definitely benefits the end user. Being able to easily compare financial statements
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Accountants certainly have a challenge to meet when it comes to applying the IFRS principle of relevance. IFRS says that an item is relevant if the information about that item has the potential to influence significantly the decisions of lenders, investors, and other users of the financial statements. The IFRS principle of relevance corresponds to the GAAP principle of materiality.
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The AcSB has issued an Exposure Draft proposing amendments that will affect private enterprises and not-for-profit organizations. Stakeholders are encouraged to submit their comments by December 15, 2016. As reported by The Standard. OMMENTS TO THE AcSB MUST BE RECEIVED BY DECEMBER 15, 2016 Respondents are asked to email their comment letters (in a Word file) to: ed.accounting@cpacanada.ca Please address
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In the first part of the series, we talked about clarity, the first of the four IFRS principles. In this article we’ll examine the second principle, reliability. True and fair Reliable information means that the financial statements are a reflection of the company’s economic reality. In other words, are they a true and fair presentation of the company’s operating results
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In conversations with individual accountants, I am discovering an initial reluctance to accept the change to IFRS, which relies more on the accountant’s judgment. IFRS requires that financial statements be prepared using four basic principles: clarity, relevance, reliability, and comparability. The principle of clarity requires that financial statements be easy to read and easy to understand. IFRS guidelines allow substantial
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TOP 10 TIPS OF BEING THE BEST SENIOR FINANCIAL EXECUTIVE is presented by TheGAAP.net & TFN On Tuesday; November 29, 2016 Sponsored by: Jeff Gregory of Desjardins Financial Security Investments Inc. Our last dinner of 2016 is a new creation thanks to the input of a few of our most senior TFN members and should appeal to all members to
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TOP 10 TIPS OF BEING THE BEST SENIOR FINANCIAL EXECUTIVE is presented by TheGAAP.net & TFN On Tuesday; November 29, 2016 Sponsored by: Jeff Gregory of Desjardins Financial Security Investments Inc. Our last dinner of 2016 is a new creation thanks to the input of a few of our most senior TFN members and should appeal to all members to
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TOP 10 TIPS OF BEING THE BEST SENIOR FINANCIAL EXECUTIVE is presented by TheGAAP.net & TFN On Tuesday; November 29, 2016 Sponsored by: Jeff Gregory of Desjardins Financial Security Investments Inc. Our last dinner of 2016 is a new creation thanks to the input of a few of our most senior TFN members and should appeal to all members to
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