Are accounting standards public enough?

CA Magazine might be freely giving away their content for the benefit of all stakeholders in the CA profession and public accounting in general, but the goodwill doesn’t extend to the CICA when it comes to Canadian accounting and auditing standards. The CICA, through the Accounting Standards Board (AcSB), develops public accounting standards through a […]

7 quick facts about the new financial instruments standard

The Canadian Accounting Standards Board (AcSB) has finalized some new sections of the Handbook which include guidance on accounting for financial instruments. Financial instruments include investments, hedges, derivatives, and loans and receivables. The Canadian standard attempts to harmonize our GAAP in a way with FASB Statement 133, “Accounting for Derivative Instruments and Hedging Activities,” and […]