Balance Sheet Shares

by Connie
(Alberta)

Balance Sheet Shares

Balance Sheet Shares

When preparing a balance sheet and you have public shares to add to your assets, do you list them by the book value or the market value at your year end?

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Jun 07, 2010
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starstarstarstarstar 		ASPE and IFRS
by: Bookkeeping Essentials, Canada

Hi Connie,

Right now Canadian GAAP is in a state of change. Effective January 1, 2011, if you are a small business, you will have the choice of following ASPE or IFRS standards. Both will be considered Canadian GAAP.

I have commented on some of the changes throughout my website. Publicly traded stock will be treated differently than existing GAAP. ASPE for Temporary Investments can be found at http://www.bookkeeping-essentials.com/balance-sheet.html#ASPEtemp.

You can also find information on which standard you should choose to follow at http://www.bookkeeping-essentials.com/ifrs-and-aspe.html. At the very end of this page, you find other references if you need to dig deeper and/or want more information.

Hope this helps.

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