This comprehensive new resource is your desktop guide to preparing financial statements under the new mandatory reporting requirements. Authored by an international team of industry specialists experienced in global best practices, it will help you manage the complexities of the new financial reporting.
You gain practical, hands-on assistance with all aspects of the new reporting requirements for all major entity types that require financial reporting under International Financial Reporting Standards (IFRS) or Canadian Generally Accepted Accounting Principles (GAAP) for private companies.
The guide brings you up to date on IFRS implementation with clear explanations, summaries of the current year's changes in reporting requirements, and model sets of accounts that can be used to prepare financial statements for a variety of Canadian entities.
A Wealth of Checklists, Illustrative Models and Precedents
• Extensive commentary on assessing the rules, standards and changes in financial reporting in Canada
• Illustrative examples of all major entity types, including listed public companies and private companies reporting under Canadian GAAP
• Compliance and disclosure checklists to ensure compliance with the requirements of corporate law and National Instruments.
- Updated disclosure checklists for amendments to Part I (IFRS) and Part II (Private Enterprise GAAP) of the CICA Handbook including the latest future period checklists (for those choosing to 'early-adopt') listing out disclosure requirements arising from the following recently released accounting standards:
- IFRS 7: Financial Instruments: Disclosures (December 2011) – Amendment
- IFRS 9: Financial Instruments (October 2010) – Revised standard
- IFRS 10: Consolidated Financial Statements (May 2011) – New standard
- IFRS 11: Joint Arrangements (May 2011) – New standard
- IFRS 12: Disclosure of Interests in Other Entities (May 2011) – New standard
- IFRS 13: Fair Value Measurement (May 2011) – New standard
- IAS 1: Presentation of Financial Statements (June 2011) – Amendment
- IAS 19: Employee Benefits (June 2011) – Revised standard
- IAS 27: Separate Financial Statements (May 2011) – Revised standard
- IAS 28: Investments in Associates and Joint Ventures (May 2011) – Revised standard
- NEW financial reporting compliance checklist for the Canada Not-for-profit Corporations Act and Canada Not-for-profit Regulations
- NEW financial reporting compliance checklist for the Canada Cooperatives Act and Canada Cooperatives Regulations
- NEW model financial statements for a non-government not-for-profit enterprise that prepares financial statements in accordance with Accounting Standards for Not-For-Profit Organizations as set out in Part III of the CICA Handbook
- NEW detailed disclosure checklists for Part III of the CICA Handbook (Accounting Standards for Not-For-Profit Organizations)