Monthly Archives: December 2011

It’s not compensation – I swear!

Posted on December 30, 2011 by admin

by John Hughes When the comprehensive history of pragmatism gets written (or is that the history of caving in?), there ought to be a chapter on accounting standard-setting, specifically on the urge to clutter things up with exemptions, exceptions, carve-outs, … Continue reading →

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Stripping costs – my take on the issue (maybe not IFRIC’s…)

Posted on December 24, 2011 by admin

by John Hughes Well, here’s one I’ve been saving for the holiday season. I understand the IFRIC has issued an interpretation on accounting for stripping costs, and on this occasion I’m so confident of the contents that I feel able … Continue reading →

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Current/non-current versus liquidity – what’s more relevant?

Posted on December 18, 2011 by admin

by John Hughes Here’s a disclosure from CanaDream Corporation: The current/non-current balance sheet classification showed up of course in far more Canadian GAAP statements than not, with a few industry-driven exceptions, most prominently financial institutions and real estate entities. However, according to its most … Continue reading →

Posted in Current/non-current classification, Financial statement presentation, IFRS | Leave a comment

IFRS 13 – early thoughts for smaller companies

Posted on December 12, 2011 by admin

by John Hughes Because the effective date of IFRS 13 Fair value measurement is still over a year away, it’s easy not to worry too much about it, particularly for smaller companies: fair value often isn’t a very prominent concept … Continue reading →

Posted in Fair Value, Financial Instruments, IFRS | 1 Comment

Financial guarantees – a case of special treatment

Posted on December 6, 2011 by admin

by John Hughes Northland Capital Corporation provides an example of an IFRS-Canadian GAAP difference you don’t run into that often, at least outside the financial institution sector: The Grange is an equity-accounted investment, in which Northland has a 47% ownership interest. … Continue reading →

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