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The Impact of IFRS Adoption on an Agribusiness Company's Financial Statements

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Listed:
  • Yan Jin
  • Bruce J. McConomy
  • Bixia Xu

Abstract

This fictional case is based on a Canadian public company that produces greenhouse vegetables. Focusing on the differences between International Financial Reporting Standards (IFRS) and Canadian Accounting Standards for Private Enterprises (ASPE), this case provides students an opportunity to (1) apply IFRS in a real world setting; (2) prepare and reconcile financial statements under ASPE and IFRS; (3) analyze the impact of IFRS adoption on key financial ratios; and (4) detect and explain differences in financial statements under ASPE and IFRS through common size analysis. L'incidence de l'adoption des IFRS sur les états financiers d'une entreprise agroalimentaire Résumé Le cas fictif proposé est celui d'une société ouverte canadienne qui produit des légumes de serre. Ce cas porte sur les différences entre les Normes internationales d'information financière (IFRS) et les Normes comptables pour les entreprises à capital fermé (NCECF) en vigueur au Canada et fournit aux étudiants l'occasion 1) d'appliquer les IFRS à une situation concrète, 2) d’établir les états financiers selon les NCECF et les IFRS en effectuant les rapprochements nécessaires, 3) d'analyser l'incidence de l'adoption des IFRS sur les principaux ratios financiers et 4) de déceler et d'expliquer les différences observées entre les états financiers selon qu'ils respectent les NCECF ou les IFRS, au moyen d'une analyse en pourcentages.

Suggested Citation

  • Yan Jin & Bruce J. McConomy & Bixia Xu, 2017. "The Impact of IFRS Adoption on an Agribusiness Company's Financial Statements," Accounting Perspectives, John Wiley & Sons, vol. 16(4), pages 429-434, December.
    • Handle: RePEc:wly:accper:v:16:y:2017:i:4:p:429-434
    DOI: 10.1111/1911-3838.12151
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