Thursday, December 24, 2009

Canada – Financial Reporting Commentary on IFRS-based Interim Financial Statements

Canada’s Accounting Standards Board (AcSB) staff has issued a Financial Reporting Commentary on Interim Financial Statements in the Year of Adoption of International Financial Reporting Standards (IFRS). The first time that most publicly-accountable enterprises will provide external financial information using IFRS will be in their interim financial reports for the year of adoption of IFRS. This commentary reviews a few of the questions that might arise regarding presentation of interim financial statements in those reports.