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Category Archives: Current/non-current classification
Classification of liabilities, or goodbye to a beloved Canadian accommodation
by John Hughes Looking back a few years at the initial communications about the anticipated impact of IFRS in Canada, it’s clear some issues were disproportionately highlighted, others unduly overlooked. The most obvious example is componentization of property, plant and equipment, … Continue reading
Current/non-current versus liquidity – what’s more relevant?
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
Inventories – subtleties in current/non-current classification
by John Hughes Here are two contrasting disclosures relating to inventories. The first is from Petaquilla Minerals Ltd.: The second is from Gennum Corporation: In the first case, a portion of inventory is classified as a non-current rather than a … Continue reading