02 May 2011

Flash…
… Accounting News

On December 15, 2009, the Accounting Standards Board (AcSB) of the Canadian Institute of Chartered Accountants (CICA) published Accounting Standards for Private Enterprises. As of fiscal years beginning on or after January 1, 2011, private enterprises that apply Canadian generally accepted accounting principles (GAAP) currently in effect will have to choose between this new set of accounting standards and those applicable to publicly accountable enterprises, i.e. International Financial Reporting Standards (IFRS). Accounting standards for private enterprises may, however, be early applied.

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21 Apr 2011

March 2011
Welcome to the IFRS Newsletter—a newsletter that offers a summary of some developments in International Financial Reporting Standards (IFRS) along with insights into topical issues and some comments.

Our first edition of 2011 leads with an article on the International Accounting Standards Board’s (IASB) first IFRS Practice Statement, which provides a broad, non-binding framework for the presentation of management commentary relating to IFRS financial statements. We go on to consider other recent developments at the IASB, including proposals which would fundamentally alter the current requirements for hedge accounting. We then turn to IFRS-related news at Grant Thornton, as well as a general round-up of activities affecting the IASB. We end with an overview of the proposals that the IASB currently has out for comment, and the implementation dates of newer standards that are not yet mandatory.

IFRS-2011-03-EN

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21 Apr 2011

Tax Bulletin International Tax Chronicle

On December 17, 2010, the U.S. Congress passed and signed the Unemployment Insurance Reauthorization and Job Creation Act of 2010 (UIRAJC). This Act includes, among others, certain highly-anticipated provisions regarding the application of estate tax after 2010. The Act also impacts the gift tax provisions and generation-skipping transfer tax. The purpose of this Bulletin is to highlight the changes to the estate tax as a result of the UIRAJCA.

US_Estate_Tax_MAJ_2011

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21 Apr 2011

Quebec Finance Minister, Raymond Bachand, delivered his second budget speech today, entitled “Looking to the Future”, which aims to stay the course towards a balanced budget, an objective that should be achieved in 2013-2014. Quebec taxpayers are being called upon to do their share by opening their wallets.

Quebec_Budget_March_2011