New Accounting Rules Coming

"It involves most accountants in Calgary having to retrain themselves in a rather significant way in order to apply IFRS at the level of expertise that they will need to report to the public markets." Back in 2006, the Canadian Accounting Standards Board decided to make the switch to IFRS, setting 2011 as a tentative deadline. The regulator is expected to settle on a firm date within weeks. So far more than 100 countries, representing about 45 per cent of the world's capital markets, have adopted or made plans to adopt the guidelines. By reporting information under the same rules, it will be easier to compare the financial statements of companies in different parts of the world. ... http://ca.news.yahoo.com/s/capress/080211/business/ifrs_change

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