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Describe the Purpose of a Management's Discussion and Analysis (MD&A)

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Essay

Describe the purpose of a management's discussion and analysis (MD&A) in the general purpose federal financial report of a federal agency.


Definitions:

SMEs

Small and medium-sized enterprises, which are businesses with a limited number of employees and revenue falling below certain thresholds according to local country standards.

Recognizing

The process of formally recording or acknowledging an item in the financial statements.

Measuring

The process of determining the size, quantity, or degree of a subject using established units of measurement.

IFRS 1

An International Financial Reporting Standard designed to guide the first-time adoption of IFRS by companies, ensuring that financial statements are transparent and comparable.

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