Deloitte iGAAP: IFRS for Canada, Third editionBy Peter Chant and Karen Higgins |
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As of January 1, 2011, International Financial Reporting Standards (IFRS) are in full force for publicly accountable enterprises (PAEs). As 2011 progresses, companies will be putting much greater emphasis on the details of applying IFRS — rather than the concepts. IFRS conversion impacts not only accounting professionals; its effects also ripple out across departments, from finance to IT to human resources. Affected companies need to prepare their people, processes and systems and understand how to apply the principles on a day-to-day basis, while also keeping up with IFRS developments. |
Deloitte iGAAP: IFRS for Canada, 3rd edition is a comprehensive reference book on the transition of Canadian GAAP to IFRS. It includes expanded Canadian content and reflects current thinking in key industries. It is essential reading for accounting professionals, as well as others who need to understand the implications of IFRS conversion on their organization. Written for Canadians by Canadian practitioners, the book provides a roadmap to help companies understand how to effectively transition from Canadian GAAP to IFRS.
New features in the third edition include:
- A chapter on example disclosures of financial instruments drawn from actual financial reports
- Standards that became effective in 2010, such as IFRICs, Annual Improvements, and IFRS 9
- Guidance on researching on IFRS topics: see chapter 2
- Canadian IFRS issues specific to Oil and gas, Mining, and rate-regulated industries
Written by Deloitte Canada partners Peter Chant and Karen Higgins, Deloitte iGAAP: IFRS for Canada, 3rd edition draws on Deloitte’s global experience helping companies in Canada and worldwide make the transition to IFRS. Given some of the similarities that exist between Canadian GAAP and IFRS, it is expected that IFRS conversion will afford opportunities and challenges unique to Canadian preparers of financial statements.
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