The CPA Canada Handbook is available to most post-secondary students through their educational institution’s subscription. Visit http://edu.knotia.ca to complete this exercise. (You may need to complete this exercise on campus, or log in through your institution’s VPN portal.)

Required:
a. Click on the “CPA Canada Standards and Guidance Collection.” Look at the table of contents that is presented. In addition to accounting standards, what other standards are included?
b. Go to the “Accounting” section of the Handbook. Read the “Preface to the CPA Canada Handbook—Accounting.” What is the importance of the five definitions provided in this preface?
c. Go to the standards in Part I (IFRS) of the “Accounting” portion of the Handbook. View the “Conceptual Framework for Financial Reporting.” Identify the paragraphs that discuss (i) the objectives of financial statements, (ii) the fundamental qualitative characteristics, and (iii) the enhancing qualitative characteristics.
d. Identify the standard (IFRS ## or IAS ##) that addresses each of the following topics:

• Presentation of financial statements
• Inventories
• Property, plant, and equipment
• Exploration for and evaluation of mineral resources
• Revenue

e. While completing part (d), did you notice any logical structure in the IFRS or IAS numbers? In what order are these standards numbered? Are there any meaningful differences between IFRS and IAS standards?