FINE 2000 Chapter Notes - Chapter 3: International Financial Reporting Standards, Canadian Securities Administrators, Form 10-Q
18 Mar 2014
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3. 1 the statement of financial position or balance sheet. Public companies publish their f/s on a regular basis, providing investors with access to info about the companies" financial situation. Canadian securities administrators (csa) is an org created by canada"s provincial and territorial regulators. International financial reporting standards (ifrs) are procedures for preparing f/s. Statement of financial position (sfp) or balance sheet, income statement, statement of comprehensive income (sci), the statement of changes in equity, and the statement of cash flows. Subsidiary is a business that"s owned by another corporation, called a parent, who controls the business- to control the business, the parent company has to own at least 50% + 1 of the voting shares. Statement of financial position (sfp) shows the book value of the firm"s assets, liabilities, and equity as of a specific date. Book value or carrying value is the value of assets or liabilities shown on the statement of financial position (b/s)
