Monthly Archives: February 2012

Disclosing judgments and uncertainties: cutting away the fat

Posted on February 28, 2012 by admin

by John Hughes The OSC’s Office of the Chief Accountant has issued OSC Staff Notice 52-720 Office of the Chief Accountant Financial Reporting Bulletin, highlighting various financial reporting areas of interest and “(identifying) topics that we are interested in examining more closely … Continue reading →

Posted in Disclosure, IFRS, Securities Regulation | Leave a comment

Non-IFRS measures – the Australian approach

Posted on February 22, 2012 by admin

by John Hughes A recent interesting article from Australia talks about the Australian Securities and Investment Commission’s (ASIC’s) view on “non-IFRS profit information” in financial statements. Here’s the summary: ASIC says that financial information which is prepared other than in … Continue reading →

Posted in Australia, IFRS, Non-GAAP financial measures | Leave a comment

Operating lease revenue – systematically representative?

Posted on February 16, 2012 by admin

by John Hughes In August last year I wrote about two of the three separate differences reported by Easyhome Ltd. in the area of revenue recognition, and said I’d return to the other item another day. Then I forgot all … Continue reading →

Posted in IFRS, Leasing, Revenue | Leave a comment

IFRS 10 – is it a subsidiary, or are they just friends?

Posted on February 10, 2012 by admin

by John Hughes Over a year ago, I wrote about the role of potential voting rights (embodied within convertible debt, warrants and so forth) in assessing whether one entity controls another, noting the Exposure Draft of the proposed amendments to … Continue reading →

Posted in Consolidation, IFRS | Leave a comment

Quiz time!

Posted on February 4, 2012 by admin

by John Hughes I was looking at a website “designed to make learning International GAAP a lot easier and cater towards your own learning style.” The author is anonymous, but provides the following background: “When I was studying for my … Continue reading →

Posted in Accounting policies, IFRS | Leave a comment