IFRS – signs and wonders!

Here’s the abstract of an article available online, written by Shaul Hayoun of the University of Edinburgh: Purpose The purpose of this paper is to contribute to the discussion on the non-essence of accounting by focusing on financial accounting’s distinct technology: financial statements. Complementing the genealogical perspective on accounting’s changing socio-historical settings, it proposes a…

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…