Shaw Communications, Inc.* included this information in its 2008 annual report. August 31, 2008, 2007, and 2006

Question:

Shaw Communications, Inc.* included this information in its 2008 annual report.
August 31, 2008, 2007, and 2006 (all amounts in thousands of Canadian dollars except share and per share amounts)

Required
a. Observe net income using Canadian vs. net income using U.S. , and comprehensive income using U.S. . Comment on the materiality of the difference between these numbers.
b. Observe the statements are in Canadian dollars. Would there be a significant difference between using Canadian dollars and U.S. dollars? Comment.

GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...