Improvement in income recognition requirements for Crown corporations
As the result of the development of a fresh standard, the us government reviewed its accounting policy, which needed a reassessment of how a consolidated Crown corporations recognize income. This standard that is new comprehensive guidance to ascertain if deals must certanly be accounted for as a real estate agent or a principal.
This had an impact that is significant the Canadian Commercial Corporation because of its commercial contracting tasks. Continue reading 3. Accounting Change and Restatement