There are some differences between IFRS and Canadian GAAP that are worth noting, and therefore a few comments are being made about the accounting for any recognized Goodwill, which for Canadian GAAP is tested annually for impairment. Read more »

IFRS has one standard for provisions – IAS 37 – Provisions, Contingent Liabilities and Contingent Assets. Read more »

Identification and measurement of impairments under IAS 36 are significantly different than Canadian GAAP 3063 – Impairment of Long Lived Assets.  Read more »

Under International Financial Reporting Standards (IFRS), borrowing costs are an additional aspect of Property, Plant and Equipment (PP&E) that is worthy of mention and review. Read more »

There is a difference between Canadian GAAP and IFRS as to when depreciation starts. Read more »

There is an explicit requirement under IFRS to review the residual value and useful life of an asset on an annual basis. Read more »