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2011 Optional Pre-Conference Workshop
Monday, September 19, 2011
1:00 - 4:00
Workshop B
Canadian Rate-Regulated Entities: Adopting U.S. GAAP
Cindy Veinot, Partner, Deloitte
Kerry Danyluk, Partner, Deloitte
Bob Meyers, Project Manager, Fortis Inc.
A number of public rate-regulated entities in Canada are in the process of adopting U.S. GAAP instead of converting to IFRS, enabling them to preserve their current accounting for regulatory assets and liabilities. The recent decision by the Canadian Securities Administrators regarding the ability of rate-regulated entities to use U.S. GAAP without becoming an SEC registrant has made the choice to convert to US GAAP instead of IFRS more appealing. This workshop will cover both the process of conversion as well as an overview of the differences between Canadian GAAP and U.S. GAAP that are commonly applicable to rate-regulated entities, and specifically:
- How to approach converting to U.S. GAAP
- Differences between converting to IFRS and converting to U.S. GAAP
- Common differences between Canadian and U.S. GAAP including:
- employee future benefits
- financial instruments
- income taxes
- Impact of Canadian-U.S. GAAP differences on regulatory assets and liabilities
- Other non-accounting considerations
2011 Optional Post-Conference Workshops
Thursday, September 22, 2011
9:00 - 12:00
Workshop C
Drafting a State-of-the-Art MD&A
Brian Ludmer, Barrister & Solicitor
Participants in the workshop will have an opportunity to explore, on an in-depth basis, the various aspects of MD&A disclosure that can only be briefly dealt with in the plenary session. In addition, the workshop will explore best practices for both internal procedures and MD&A content, with examples form actual filings. Specialized topics such as off-balance sheet disclosure, key performance indicators, critical accounting estimates, environmental and sustainability reporting will also be reviewed.
- In-depth review of plenary session topics
- Achieving the goals of MD&A disclosure
- Examples of best practices
- Examples of unacceptable practices
- Implementing effective internal procedures to meet market and regulatory expectations
- Off-balance sheet and contractual obligations disclosure
- Critical accounting polices and estimates
- "Soft accounting" disclosure
- Sources of available guidance for effective MD&A drafting
- Communicating the company's business model through effective MD&A disclosure
1:00 - 4:00
Workshop D
Financial Reporting under IFRS for Mining Industry
Maruf Raza, Partner, Collins Barrow LLP
This workshop will provide you with a road map for future accounting and reporting requirements for the mining industry. With the first wave of IFRS financial statements behind Canadian registrants, it is a perfect time to discover what leading practices are evolving and how the mining industry is responding.
- Accounting for exploration and evaluation of resources: how IFRS 6 is evolving in practice
- Development and production phase accounting considerations
- Overcoming application challenges of financial instruments in the mining sector
- Accounting for joint arrangements
- Foreign exchange accounting treatment: mining industry trends
- Practical guide to share-based payments
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