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Canadian GAAP at a crossroads

Published on: Dec 31, 2009

While IFRS is the only option for publicly accountable enterprises… profit-oriented private companies can generally choose between GAAP for Private Enterprises or IFRS. Are you ready to choose?

Before getting down to the details by comparing a selection of individual standards, it’s important to consider the big picture. Four key business considerations: Usability, cost, agility, and specific considerations. IFRS has extensive disclosure requirements, generally resulting in significantly more disclosure than agility. Private companies should also consider the ongoing efforts required to comply with IFRS versus GAAP for Private Enterprises.


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