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Comparison of Canadian GAAP and IFRSs at 31 March 2007

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01 Apr 2007

The staff of the Accounting Standards Board of Canada (AcSB) has prepared a high-level comparison of current Canadian standards and IFRSs. Its purpose is to provide information about the extent of similarity between Canadian GAAP and IFRSs. We are grateful to the AcSB for allowing us to post the comparison on IAS Plus.

The comparison covers significant differences only and does not include all of the differences that might arise in a particular entity's circumstances. It is not intended for use in preparing financial statements. To understand fully the implications of applying and preparing financial statements in accordance with IFRSs, users of this comparison and financial statement preparers should refer to the standards themselves. AcSB staff is also maintaining a more detailed comparison for those interested in comparison at a technical level. It is available on the AcSB's Website.

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Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.