Canada-U.S. Accounting and Reporting

Preparing for New GAAP and Regulatory Issues
That Impact Your Financial Reporting

DAY TWO: Thursday, March 27, 2008

8:00 - 9:00   Continental Breakfast   9:00 - 9:10 Welcome and Opening Remarks from the Chair Jason Novakovski, Senior Manager, Assurance and Advisory, Deloitte & Touche LLP   9:10 - 10:10 Road to Transition: IFRS 1, Discussion on First-Time Adoption Anna Roux, Senior Manager, Assurance and Advisory, Deloitte & Touche LLP Overview of IFRS 1 for first-time adoption of IFRS Impact on the opening balance sheet and comparative periods presented Clarification of limited exceptions available on initial adoption Disclosures to explain the transition from previous GAAP to IFRS Key areas that may be impacted by initial adoption   10:10 - 10:30   Networking Break   10:30 - 11:30 Responding to New Changes in Business Combinations Chris Courtland, Partner, Grant Thornton LLP Changes being made to Business Combinations Section 1581 of the CICA Handbook with the introduction of Business Combinations Section 1582: comparing new standards from the FASB and the IASB commentary on post-acquisition accounting for the consolidation, proportionate consolidation, and equity methods review the approach to step acquisitions   11:30 - 12:30 Understanding the Main Differences between IFRS and Canadian GAAP Jason Novakovski, Senior Manager, Assurance and Advisory, Deloitte & Touche LLP Overview of significant differences between IFRS and Canadian GAAP Identifying areas of focus for prioritization of conversion efforts Future IFRS developments that will impact Canadian adopters by 2011   12:30 - 1:50   Luncheon   1:50 - 2:50 Importance and Practice of Financial Instrument Implementation Chris Johnston, Partner, Assurance and Advisory, Deloitte & Touche LLP Common issues encountered during implementation Understanding the differences between Canadian GAAP and U.S. GAAP Differences between IFRS and Canadian GAAP and how these affect convergence Primary considerations for your implementation process   2:45 - 3:00   Networking Break   3:00 - 4:00 Tax Accounting: Uncertain Tax Position Issues within Canada and the U.S. and Other Tax-Related Issues Christina Comfort, Senior Manager, Tax, KPMG LLP Overview of FIN 48 requirements Challenges and implications of applying the new rules Where IFRS and Canadian GAAP are heading in relation to "uncertain tax positions" Presentation issues with respect to future tax assets and liabilities   4:00 - 4:30 Closing Remarks from the Chair and Q & A   4:30   End of Day Two REGISTER