Shaw Communications included Note 21 United States Generally Accepted Accounting Principles in its 2008 annual report. Required
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Required
a. In your opinion, is there a material difference between shareholders equity at the end of 2008 using Canadian GAAP vs. U.S. GAAP? Comment.
b. The disclosure indicates all amounts in thousands of Canadian dollars except share and per share amounts. In your opinion, does this present a challenge to U.S.investors?
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2008 2007 Canadian GAAPS US GAAPS GAAPS US GAAPS Cana dian Property, plant, and equipment) Deferred charges9) Broadcast rights Long-term debt) Other long-term liabil ity) Derivative instruments8) Deferred credits239) Future income taxes Shareholders equity: 2,616,500 2,622,877 2,422,900 2,425,144 274,666 175,818 278,525 170,881 4,776,078 4,750,844 4,776,078 4,750,844 2,706,534 2,731,404 2,771,316 2,771,316 157,043 526,679 687,836 685349 1151,724 687,913 1,281,826 ,215,566 1,327,914 1,271,791 78,912 183,347 56,844 518,856 518,856 Share capital Contributed surplus Retained eamings (deficit) Accumulated other comprehensive income (loss) (57674) 130.698 2,063,431 2,063.43 2,053,160 2,053,160 8,700 226,408 21,169 (68,132 178,652) 23,027 23,027 8,700 Total shareholders' equity 2,255,192 2,076,929 1,994,040 ,756,462
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a Yes Shareholders equity August 312008 Canadian GAAP 2 ...View the full answer
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Financial Reporting and Analysis Using Financial Accounting Information
ISBN: 978-1439080603
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Authors: Charles H Gibson
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