Consider the elements and indicators among reporting frameworks (Illustration 10.3).
In Illustration 10.3
(a) Describe key financial indicators given in a financial statement presented in accordance with the CICA PSA Handbook. Contrast these indicators with indicators provided in the NPO, IFRS, and ASPE frameworks.
(b) Explain why net debt, the difference between liabilities and financial assets, bears directly on future revenue requirements and acts as a constraint upon the public sector's entity's ability to finance its activities, as well as meeting its liabilities and future commitments.
(c) Indicate how approaches under the frameworks vary when presenting changes in assets and liabilities and what challenges this can provide to users seeking to understand the results being reported by entities using these differ ent frameworks.

  • CreatedJune 09, 2015
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