Liquored up, or: our comparability is impaired!

Here’s an issue that doesn’t come up too often, as reported on the Canadian Broadcasting Corporation’s website: A claim by New Brunswick’s Liquor Corporation that its profits last year “remained steady” was true only because of seven extra days it included in its financial year, an issue that needs to be explained in detail, accounting…

Accounting for the “new world economy” – does it even fit within IFRS?

We’ve already looked in the past at one accounting issue relating to cryptocurrencies, as addressed by CPA Canada’s IFRS Discussion Group. Here’s the background to another one: A blockchain is a distributed digital ledger that is used to record transactions over a network of participating computers. The ledger tracks the creation and transfer of cryptocurrencies…

Non-GAAP measures – ramping up the rigour

The Canadian Securities Administrators (CSA) have published for comment Proposed National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure, which establishes disclosure requirements for issuers that disclose non-GAAP and other financial measures. We’ve covered this topic here many times before (certainly more than I intended to). In a nutshell, the main Canadian regulatory reference point at present…