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IFRS (International Financial Reporting Standards) is coming to Canada. By 2011, all publicly accountable companies, public companies listed on the Toronto Stock Exchange and crown corporations, will be required to report their financial results using IFRS instead of Canadian GAAP. Private companies are not immediately required to convert to IFRS but have the option of doing so.

How does IFRS affect bookkeepers? How does it affect small and mid-sized companies?

Bookkeepers must keep abreast of current accounting developments so they can have informed conversations with their clients and accountants as they prepare for IFRS conversions. Understanding the implications of IFRS is paramount to maintaining a professional image and providing strong financial support to customers. They also need to understand how the migration to IFRS will affect bookkeeping.

Small and mid-sized business owners need to understand the basics of IFRS to determine whether or not they need to convert their accounting practices. Their accountants and bookkeepers will provide strong guidance but they need to have an understanding of the general concepts behind IFRS, the benefits, and the disadvantages in order to make informed decisions.

Topics covered

  • Overview of IFRS
  • What is IFRS?
  • The benefits of IFRS
  • When will it impact companies?
  • Impact of IFRS on private companies
  • An overview the international accounting framework
  • Impact of IFRS on bookkeepers
  • Summary of major changes between IFRS and Canadian GAAP
  • New presentation format for financial statements
  • IFRS as a moving target
  • Where to get additional information to stay current on IFRS developments

Workshop format

This workshop is being offered as a 90-minute webinar with an opportunity for participants to ask questions through the web.

Who will benefit

This webinar is an introduction to IFRS and is intended primarily for bookkeepers as well as small and mid-sized business owners. It is designed to provide the basics of IFRS to bookkeepers and business owners, help them understand how IFRS will affect bookkeeping, and help bookkeepers as well as business owners prepare for Canada's conversion to IFRS.

Price: $125


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