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The Impact of IFRS Adoption on an Agribusiness Company's Financial Statements
Author(s) -
Jin Yan,
McConomy Bruce J.,
Xu Bixia
Publication year - 2017
Publication title -
accounting perspectives
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.238
H-Index - 17
eISSN - 1911-3838
pISSN - 1911-382X
DOI - 10.1111/1911-3838.12151
Subject(s) - international financial reporting standards , business , agribusiness , accounting , finance , agriculture , ecology , biology
This fictional case is based on a Canadian public company that produces greenhouse vegetables. Focusing on the differences between International Financial Reporting Standards ( IFRS ) and Canadian Accounting Standards for Private Enterprises ( ASPE ), this case provides students an opportunity to (1) apply IFRS in a real world setting; (2) prepare and reconcile financial statements under ASPE and IFRS ; (3) analyze the impact of IFRS adoption on key financial ratios; and (4) detect and explain differences in financial statements under ASPE and IFRS through common size analysis.