Progress on business combinations

Article Abstract:

Canadian businesses that frequently transact with North American or international businesses would soon have access to updated accounting standards. The Accounting Standards Board (AcSB) has released an exposure draft regarding accounting for business combinations, goodwill and acquired intangibles. The public is encouraged to comment on the draft. The AcSB is also waiting for input from responses to an accounting position paper to be issued by the International Accounting Standards Committee by the end of 1998.

Intangible property, Intangible assets, Goodwill (Business)

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No standard view on reporting rules

Article Abstract:

Reponses to the Canadian Securities Administration's discussion paper, "Financial Reporting in Canada's Capital Markets," indicate that chartered accountants do not have a unified view of whether companies should have the option to file financial statements in Canada using United States generally accepted accounting principles (GAAP) or International Accounting Standards (IAS) instead of Canadian GAAP.

Canada, Surveys, Accountants, Financial statements

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The cultural gap

Article Abstract:

Issues are presented concerning the difficulties which can be encountered when it is necessary to work in co-operation with foreign clients whose accounting standards are not the same as those used in Canada.

Foreign investments

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