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For all things accounting and bookkeeping.

We will be away for the holidays for a day on either side of the weekend, so chat, emails, and phones will be unmanned. We will be up and operational as normal on Tuesday, December 29th.

Prepared by Tyler Hudson,, Articling CA Student

For private companies January 1, 2011 is an optional conversion date, but PAE’s (Publicly Accountable Enterprises) will have no choice, they are required to report under IFRS for 2011. This also means that they need to be taking action now as opening balance for the 2011 year ends will need to be IFRS compatible. In practical terms PAE’s need to be up and running with their IFRS plans in less than one month, implementing the changes required to ensure a seamless transition from GAAP to IFRS come year end.

You may think that this post has nothing to do with accounting. If you have never forgotten your tax deadlines or you always know where you put your receipts, you are right: this post has nothing to do with accounting and you can go ahead and read some other interesting tips for your business here.

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