Tag Archives: ifrs updates

SFAS 78 With Summary

SUMMARY OF STATEMENT NO. 78 CLASSIFICATION OF OBLIGATIONS THAT ARE CALLABLE BY THE CREDITOR—AN AMENDMENT OF ARB NO. 43, CHAPTER 3A (ISSUED 12/83) Summary This Statement amends ARB No. 43, Chapter 3A, “Current Assets and Current Liabilities,” to specify the … Continue reading

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Brief Overview of IFRS & How it’s different from US GAAP

“What’s the fuss over IFRS?” providing a brief overview of the transition to adoption of IFRS and convergence with US GAAP. While we realize that IFRS will become a future reality, the question lingered regarding the differences between the two … Continue reading

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IFRS Standard & Interpretation Updates

Financial statement considerations in adopting new and revised pronouncements Where new and revised pronouncements are applied for the first time, there can be consequential impacts on annual financial statements, including: Updates to accounting policies. The terminology and substance of disclosed … Continue reading

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