Author: bjarosella
Canada – Consultations on tax implications of international accounting rules for insurance contracts (IFRS 17)
Accounting standards specify how transactions are recognized, measured, presented and disclosed in financial statements. While these standards are set by national accounting bodies, many countries, including Canada, follow the standards set by an independent international body, the International Accounting Standards Board (IASB). Accounting standards specify how transactions are recognized, measured, presented and disclosed in financial statements. While these standards are set by national accounting bodies, many countries, including Canada, follow the standards set by an independent international body, the International Accounting Standards Board (IASB). The movement towards global accounting standards reflects businesses’ increasing participation in the global marketplace. Investors also ... Read more