The Change in 2011 from Canadian GAAP to Either IFRS

question 118

True/False

The change in 2011 from Canadian GAAP to either IFRS or ASPE required a retroactive change in a company's financial statements.

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Definitions:

Rules of Law

Fundamental principles that govern society and are enforced through a set of institutions.

Syllabus

An outline or summary of the subjects in a course of study or teaching.

Official Reporters

Professional individuals who transcribe the spoken word in court proceedings, hearings, and other legal events, creating official records of these events.

Unofficial Reporters

Collections of case law published privately, as opposed to those published by an authorized governmental body, often used for reference by legal professionals.