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IFRS: Canada's Decision

Vaughan S. Radcliffe; Mitchell Stein

Product #:9B11B017
Supplier:Ivey
Discipline:Accounting, Finance, International Business
Setting:Canada, 2011
Details:Case (PDF) • 16 pages • 2011-10-27

Subjects:

Accounting standardsFinance and investingBusiness managementAccountingInternational business

Industries:

Financial service sector

Geography:

CanadaNorth America
Your Price:$9.71

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The case comprises an interview with Paul Cherry, who as chair of the Accounting Standards Board of Canada (the Canadian accounting standard setter) led a process that brought Canada to adopt international financial reporting standards (IFRS). The case provides a rich and in-depth examination of the real-world considerations that led Canada to adopt IFRS. It offers analysis of the competing alternatives such as the U.S. GAAP (generally accepted accounting principles), describes the consultation process, and sets out the thinking that led to Canada adopting IFRS. The case offers a unique opportunity for students to see a leader in the Canadian accounting profession set out what actually led to the adoption of IFRS.

Learning Objectives

This case is appropriate for high-level undergraduates and MBA students who have sufficient technical background but need to understand how the field of accountancy actually operates in practice. The case offers a broad review of the most important considerations for senior practitioners and for those who as managers would interact with practitioners. Issues of the quality and timeliness of financial reporting are addressed, as well as the institutional detail of Canada’s financial markets.
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Case Study: IFRS: Canada's Decision (English version) | Ivey Publishing