The Accounting Standards Board of Canada has confirmed recently the changeover date to IFRS for publicly accountable for-profit organi­za­tions, set for periods beginning on or after January 1, 2011. The announcement is available in PDF format. It sounds like we’re going to have to know and be able to apply two sets of principles, as private […]

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A while ago I received an email informing me of a newsletter available for Canadian accounting profes­sionals detailing the transition from Canadian GAAP to inter­na­tional standards, IFRS. The newsletter is provided by The Finance Group, headed up by Gordon Heard, CA, and all three issues to date are available for download (in PDF format). The […]

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Al Rosen, in the second of a three part series in the Financial Post about the transition from Canadian GAAP to IFRS: IFRS is too weak in its current form for investors to accept on par with current Canadian standards. Nonetheless, we are on course to implement IFRS in just three years. He quotes and agrees […]

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Richard Murphy’s on fire these days, taking it One World Trust, explaining the power of blogging and giving it to New York CPAs. Too many in accoun­tancy see their role to be increasing the wealth of the wealthiest in our society… and they’re polit­i­cally cynical enough to pander to their clients and ignore the ethics […]

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Canada’s CAs have announced guidance for a key metric of income trusts, that of distrib­utable cash. The term ‘distrib­utable cash’ generally refers to the cash that an income trust could poten­tially distribute to unit holders. Investors use this infor­mation when assessing the entity’s ability to fund future distri­b­u­tions and to help value their invest­ments. But […]

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