A client of mine just met with their auditors in order to prepare for their 2009 audit.  One of the questions the auditors asked was:
are you going to embrace International Financial Reporting Standards (”IFRS“) in 2010 or will you move towards private enterprise GAAP?
As many of you know IFRS is mandatory for Canadian publicly traded [...]

You may have noticed by my posts that I have been hanging out with the Business Intelligence folks quite a bit these days.  The other day we got into quite the discussion regarding reporting standards.  At first we began our usual debate with respect to the convergence/adoption of International Financial Reporting Standards (”IFRS“) which is [...]

OK, yes, as an American living in Canada I am obsessed with my personal taxes right now.  Not to mention my US taxes are due tomorrow but my Canadian taxes are due by April 30th but I have to file in Canada before I file in the US because they get the majority of the [...]

When you first start out all you really care about, from a revenue perspective, is invoicing customers and receiving the cash.  Most sales people call the invoicing “bookings” or just “sales” which is very different from “revenue”.  The term “revenue” implies (a) GAAP is at play, which you will have to switch to eventually, and [...]