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Spreadsheet for product 9B09B011.

This note provides background on the development of international financial reporting standards (IFRS) in Canada. It provides a brief history of the International Accounting Standards Board and Canada's decision to implement IFRS. It then discusses the conceptual framework and talks about the difference between IFRS and other global standards (Canada and the United States).

This note provides an overview on accounting for property, plant and equipment under both Canadian GAAP and IFRS. It addresses recognition on property, plant and equipment, as well as impairment. Investment property is also addressed.

This note provides an overview on accounting for property, plant and equipment under both Canadian GAAP and IFRS. It addresses recognition on property, plant and equipment, as well as impairment. Investment property is also addressed.

Chip Tec Industries Inc. repairs chips and scuffs on vehicles. A current employee has an opportunity to purchase the business. He must analyse the financial statements to determine the financial status of the company and evaluate the asking price for the business.

The Percy Group is a diversified real estate development company. The president must decide whether to invest $7.9 million to convert one of the company's apartment buildings into a retirement home. The company had not previously converted or operated a retirement home. He must evaluate industry trends and the expected cash flows necessary to determine whether the investment is expected to earn the company's cost of capital. He must also undertake sensitivity analysis and a qualitative evaluation.