News & Events

International Financial Reporting Standards (IFRS)

IFRS for Canadian Oil and Gas Issuers Applying the Full Cost Method

As you probably already have heard from various sources, the countdown to the implementation of the International Financial Reporting Standards has begun. All listed companies will be required to prepare their financial statements in accordance with IFRSs for interim and annual financial statements relating to fiscal years beginning on or after January 1, 2011.

It is expected that IFRS will have an impact on all listed companies. By 2011, the basis of financial reporting by listed companies will significantly change from GAAP to IFRS.

In order to assist Exchange listed companies with the transition, Toronto Stock Exchange and TSX Venture Exchange, in partnership with Ernst & Young LLP are offering a half-a-day workshop on IFRS.

Topics include:
  • What must change and when
  • Pre-2010 disclosures
  • Accounting for activities on or after January 2, 2010
  • Recognition and review of Exploration & Evaluation (E2) assets under IFRS 6, impairements, depletion, etc.
  • Conversion of December 31, 2009 GAAP, Balance Sheets to IFRS.
Workshop details:

Half-day workshop
Registration: 8:30 a.m.
Workshop: 9:00 a.m. - 2:00 p.m.
All program materials provided.
Lunch will be included.

Cost:
$200

Registration coming soon

TBD
Calgary