The CICA Handbook has been restructured into four discrete parts covering the four different reporting frameworks, plus a fifth part archiving pre-changeover Canadian GAAP until such time as it is no longer in use.
There will also be a number of changes impacting public sector enterprises. Organizations previously classified as government business type organizations (GBTOs) will now be classified as government business enterprises, government not-for-profit organizations or other government organizations. The resulting classification will determine which reporting framework the organization will adopt and when.
Focus on Financial Reporting provides information to help boards of directors, audit committee members, corporate management, and other interested parties to identify and address recently released Canadian, International, and US regulatory and financial reporting developments that may affect their organizations.
In this issue:
- Publicly Accountable Enterprises
- Update on IFRS
- Canadian Regulatory Developments Applicable to All Issuers
- Industry Specific Canadian Regulatory Developments
- US GAAP & Regulatory Developments
- Private Enterprises
- Not-for-Profit Organizations
- Public Sector Enterprises
- Pension Plans
The information in this edition of Focus on Financial Reporting is based on pronouncements released prior to November 15, 2011. Reference should be made to official pronouncements or your local KPMG adviser for the standards established after this date.