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Understand which factors an oil and gas organization must consider to determine its functional currency under International Financial Reporting Standards (IFRS).
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As oil and natural gas companies often do business globally and enter into transactions denominated in foreign currencies, a question that often arises is: How do I determine our functional currency under IFRS? As Viewpoints: Applying IFRSs in the Oil and Gas Industry: — Functional Currency outlines, it depends on specific facts and circumstances relevant to your organization’s operations.
Prepared by Chartered Professional Accountants of Canada (CPA Canada), the Canadian Association of Petroleum Producers, and the Small Explorers and Producers Association of Canada, this resource for junior oil and gas companies features information on:
It’s said that a crisis brings out the best in people and, in most cases, that’s true. But there is a dark side to tough times, as fraudsters prey on people who are uncertain and looking for easy answers.
March 18, 2020
The federal government’s actions and fiscal support to address the widespread and devastating economic fallout of the COVID-19 pandemic are welcomed by Chartered Professional Accountants of Canada (CPA Canada).
April 2, 2020
Listen to this special edition Practitioner’s Pulse webinar where we answer some frequently asked questions around practice management issues and some key financial reporting and auditing implications of COVID-19.