IFRS Archives - Page 3 of 4 - Edelkoort Smethurst CPAs LLP

IFRS vs Canadian GAAP – Provisions

IFRS has one standard for provisions – IAS 37 – Provisions, Contingent Liabilities and Contingent Assets. Read More

IFRS and Change Management

Change Management will be an extremely important consideration as Canada transitions its accounting policies (Canadian GAAP) to International Financial Reporting Standards (IFRS) effective January 1, 2011 for all publicly accountable entities. Read More

IFRS vs Canadian GAAP – Statement of Cash Flows

The Statement of Cash Flows is one of three financial statements required under both Canadian GAAP and IFRS, and essentially provides users with information regarding how the company obtained and used cash during the period. Read More

IFRS vs Canadian GAAP – Financial Presentation

Canadian GAAP and IFRS both have line items that need to be presented, but IFRS requires more disclosures, as detailed in IAS 1, paragraph 54. Read More

IFRS Terminology

There will continue to the same financial statements that we are all familiar with, but the terminology will change. Read More

IFRS Consulting in Canada

Edelkoort Smethurst Schein CPA's LLP of Edelkoort Smethurst Schein CPA's LLP is available to assist companies in Canada with initial preparation for IFRS. Read More

IFRS + Consulting

IFRS Project Consulting As changes to financial reporting, IT systems, business processes and perhaps entity controls evolve throughout the IFRS conversion time frame, it’s critical that internal controls, especially those related to NI 52-109 and SOX 404 certification, are maintained, redesigned and operate effectively throughout this project. Read More