Instructions

·        Demonstrate a general knowledge of part I of the CPA Canada Handbook - Accounting through discussion of the company’s choice of specific accounting policies.[1] You should reference the relevant sections of the Handbook (emphasizing topics covered in Accounting 3410) setting out the available alternatives and why you believe that the subject company made the choices they did (e.g. comparability, income maximization, or…). As an investor, why do you care about the choices the company made? How do they impact on your analysis?

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[1] In many instances, the company does not have a choice on how to do thing, e.g. it recognizes revenues in accordance with IFRS 15. Other time they do, for example, they can classify financial liabilities as financial liabilities at fair value through profit or loss, or financial liabilities at amortized cost. I am only interested in the accounting policies where the company has a choice.

****In short, this ask to demonstrate the reason for the choice of IFRS rather than any other methods, and to suggest alternatives of IFRS. If you are not available to access CPA handbook, I'll edit up so you do not need to care this part too much. Not too many references. Thank you.

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