You can save this article by registering for free here. Or sign-in if you have an account. By Jan. 1, 2011, small and medium Canadian companies will have to decide what standard to use in reporting ...

The International Accounting Standards board (IASB or board) has recently released the third edition of its IFRS for SMEs ...

The AICPA on Thursday submitted comments on the SEC’s proposed road map for the use of IFRS by U.S. public companies. The Institute recommended additional changes to financial reporting regulations, a ...

The delayed recognition of credit losses have caused banks to falter and markets to drop, contributing to the US and global recessions. After the financial crisis, it became evident that trading ...

International Financial Reporting Standards (IFRS) are destined to be the lingua franca of the international accounting world. Approximately 100 countries already require, allow or are in the process ...

GAAP reports in detailed, precise formats; IFRS allows flexible, principle-based reporting. GAAP does not permit asset value recovery post-impairment; IFRS allows revaluation. IFRS does not mandate ...

The Investment Industry Regulatory Organization of Canada intends to require all of its firms to adopt International Financial Reporting Standards. An IIROC notice issued Monday sets out the results ...

As a direct consequence of the new International Financial Reporting Standards (IFRS), all companies that lease property to operate their businesses will see a significant increase in reported assets ...