Category Archives: Income taxes

More fun with deferred taxes

Posted on November 24, 2011 by admin

by John Hughes A Canadian company recently reported the following difference on converting to IFRS: In bouncing off real-life examples, it’s always necessary of course to acknowledge that all the relevant facts aren’t evident on the surface of the disclosure; … Continue reading →

Posted in IFRS, Income taxes | Leave a comment

Investment tax credits – not aware of problems!

Posted on May 18, 2011 by admin

by John Hughes The CICA’s IFRS Discussion Group recently addressed the issue of investment tax credits, summarizing the discussion as follows: Under existing Canadian GAAP, specific guidance is provided for accounting for investment tax credits (i.e., a government incentive). IFRSs … Continue reading →

Posted in IFRS, Income taxes, Investment tax credits | Leave a comment

Income taxes in the cash flow statement…an acceptable variation?

Posted on May 12, 2011 by admin

by John Hughes As I write, the first quarter IFRS financial statements are flooding in, and at least superficially, things are looking good, with lots of seemingly clear, systematic, comprehensive disclosure. Of course, I’m not so naive as to think … Continue reading →

Posted in Cash flow statements, IFRS, Income taxes | Leave a comment

Some examples of IFRS disclosure in 2010 year-end MD&A – Part 2

Posted on March 13, 2011 by admin

by John Hughes Another batch of these disclosures (the first installment was here), again focusing on year-end filings containing information about the impact of IFRS both on equity/the balance sheet and on the income statement. First, here’s an extract from … Continue reading →

Posted in Borrowing costs, IFRS, Income taxes, MD&A | Leave a comment

Future income taxes and non-monetary assets – in for a penny…

Posted on December 7, 2010 by admin

by John Hughes Pan American Silver Corp highlights one of the more commonly-cited differences between IFRS and Canadian GAAP in the area of income taxes: (On this occasion I’ll leave you in suspense about what that second item might be!) … Continue reading →

Posted in Foreign currency, IFRS, Income taxes | Leave a comment

Replacing the accounting camels

Posted on July 22, 2010 by admin

by John Hughes Indigo Books & Music Inc. highlights an interesting difference between IFRS and Canadian GAAP:   The issue itself may not be too widely applicable – this is the only place I’ve seen it highlighted as material – … Continue reading →

Posted in IFRS, Income taxes | Leave a comment

Deferred taxes: all about principles?

Posted on December 19, 2009 by admin

by John Hughes Deferred tax is a relative blind spot of mine, as I suspect it is for many people. I should emphasize “relative” though. I was looking at the PWC IFRS blog, where a posting on the subject generates … Continue reading →

Posted in IFRS, Income taxes | Leave a comment