 Copyright
Notice to Readers  What's New
Guide to Accounting Pronouncements and Sources, Sixth Edition
Significant Differences in GAAP in Canada, Chile, Mexico and the United States
Accounting and Reporting for Enterprises in the Development Stage
Accounting Bases Used in Canadian Government Budgeting
Accounting Changes Background Information and Basis for Conclusions Section 1506
Accounting for Infrastructure in the Public Sector
Accounting for Tangible Capital Assets Accrual Budgeting Issues
Accrual Budgeting by Canadian Federal, Provincial and Territorial Governments
Aligning Investment in Information Technology with Business Strategy: What CFOs Need to Consider (June 2005)
Application of Computer-assisted Audit Techniques, Second Edition
Assessing Risks & Controls of Investment Funds
Asset Retirement Obligations - Background Information and Basis for Conclusions Section 3110
Assurance Engagement Working Papers
Audit & Control Implications of XBRL
Audit Enquiry - Seeking More Reliable Evidence From Audit Enquiry
Audit Implications of EDI
Audit Implications of Electronic Document Management
Audit of a Small Entity
Audits of Non-profit Organizations
Canadian Performance Reporting
Cash Distributions Amendments to Section 1540 Background Information and Basis for Conclusions (September 2007)
Cash Flow and Other Per Share Information - Background Information and Basis for Conclusions Sections 1540 and 3500
Cash Flow Statements - Background Information and Basis for Conclusions - Section 1540
Comprehensive Income and Equity - Background Information and Basis for Conclusions Sections 1530 and 3251
Confirmation of Accounts Payable
Confirmation of Accounts Receivable
Continuous Auditing
Corporate Reporting to Stakeholders
Costing Government Services for Improved Performance Measurement & Accountability
Data Level Assurance
Differential Reporting - Background Information and Basis for Conclusions - Section 1300
Differential Reporting Amendments to Section 3062 and AcG-15 Background Information and Basis for Conclusions
Disclosures by Entities Subject to Rate Regulation - Background Information and Basis for Conclusions AcG-19
Disposal of Long-Lived Assets and Discontinued Operations - Background Information and Basis for Conclusions - Section 3475
Electronic Audit Evidence
Electronic Filing and Reporting - Emerging Technologies and Their Implications
Electronic Filing of Information
Employee Future Benefits - Additional Disclosures - Background Information and Basis for Conclusions - Section 3461
Employee Future Benefits Implementation Guide, Second Edition (Updated November 2001)
Engagements to Audit Greenhouse Gas Emissions Information Practice Guide
Financial Instrument Disclosures and Capital Disclosures - Background Information and Basis for Conclusions Sections 1535, 3862 and 3863 (July 2007)
Financial Instruments - Recognition and Measurement - Background Information and Basis for Conclusions Section 3855
Financial Instruments Recognition and Measurement Background Information and Basis For Conclusions Amendments to Section 3855 (December 2009)
Financial Reporting by Canadian School Boards
 Financial Reporting by Investment Funds, Second Edition
Notice to Reader Foreword Financial Reporting by Investment Funds Study Group Members Executive Overview Chapter 1 Introduction Outline of the Report Research Process Exhibit 1.1 Exhibit 1.2 GAAP and Regulatory Requirements Definitions Investment Fund Financial Reporting and Financial Statements Conclusion Chapter 2 Financial Statements of Investment Funds Introduction Statement of Net Assets Exhibit 2.1 Assets Investments Cash and cash equivalents Accounts receivable Impaired loans Other assets Liabilities Accounts payable and accrued liabilities Portfolio liabilities Notes payable, other debt and other liabilities Net Assets Multiple series and multiple class funds Transition to IFRS Presentation of Assets and Liabilities (IAS 1) Statement of Investment Portfolio Exhibit 2.2 Transition to IFRS Statement of Investment Portfolio (IAS 1) Requirement to present a statement of investment portfolio Requirement to present comparative information Statement of Operations Exhibit 2.3 Investment Income Expenses Presentation of transaction costs Net Investment Income Realized / Unrealized Gains and Losses Income Tax Considerations Statement of Changes in Net Assets Exhibit 2.4 Changes in Net Assets from Operations Distributions to Investors Capital Unit / Share Transactions Capital Contributions Changes in Net Assets Statement of Cash Flows Transition to IFRS Cash flow statements (IAS 7) Requirement to prepare a statement of cash flows Statement of cash flows presentation and format Future IFRS developments Exhibit 2.5 Conclusion Chapter 3 Financial Statement Disclosures and Specific Matters Introduction Financial Statement Disclosures Regulatory Disclosures Foreign Currency Translation Transition to IFRS Presentation and Functional Currency (IAS 21) Exhibit 3.1 Measurement when the reporting currency is other than the measurement currency Study Group Views Segment Disclosures Transition to IFRS Segment Reporting (IFRS 8) Requirement to provide segmented disclosures Related Party Transactions Transition to IFRS Related Party Disclosures (IAS 24) Authoritative Guidance Current Practice Discussion and Analysis (including illustrative examples) Study Group Views Future IFRS Developments Business Combinations Transition to IFRS Business Combinations and Mergers (IFRS 3) Study Group Views Future IFRS Developments Consolidation by Investment Funds Transition to IFRS Consolidation by Investment Funds (IAS 27) Income Taxes Transition to IFRS Income Taxes (IAS 12) Investor Equity Transition to IFRS Classification of Investor Equity (IAS 1 and IAS 32) Earnings Per Share (EPS) Exhibit 3.2 Transition to IFRS Earnings Per Share (IAS 33) Performance Fees Interim Financial Statements Conclusion Chapter 4 Accounting for Investments Introduction Canadian Generally Accepted Accounting Principles (GAAP) Accounting Guideline 18, Investment Companies (AcG-18) Section 3855, Financial Instruments Classification of Investments Transition to IFRS Classification of Investments (IAS 39) Classification of financial instruments Exhibit 4.1 IAS 39, Financial Instruments: Recognition and Measurement Study Group Views Exhibit 4.2 Section 3855, Financial Instruments Recognition Exhibit 4.3 Transition to IFRS Revenue Recognition (IAS 18 and IAS 39) Authoritative Guidance Current Practice Discussion and Analysis Study Group Views Future IFRS Developments Section 3855, Financial Instruments Measurement Exhibit 4.4 Transition to IFRS Fair Value Measurement and Disclosure (IAS 39) Exhibit 4.5 Exhibit 4.6 Exhibit 4.7 Section 3861, Financial Instruments Disclosure and Presentation Terms, Conditions and Risk-Related Information about Investments Held Risk Management Policies and Hedging Fair Value Disclosures Section 3862, Financial Instruments Disclosures Section 3863, Financial Instruments Presentation Exhibit 4.8 Conclusion Chapter 5 Management Report and Auditor's Report Introduction Management Report Content Presentation Exhibit 5.1 Auditor's Report Audit of Financial Statements The Auditor's Standard Report Exhibit 5.2 International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) Conclusion Exhibit 5.3 Chapter 6 Management Report of Fund Performance Introduction National Instrument 81-106 Background to the Amendments Form 81-106F1 Part A Instructions and Interpretation Part B Content Requirements for Annual Management Report of Fund Performance Exhibit 6.1 Exhibit 6.2 Exhibit 6.3 Part C Interim MRFPs Companion Policy 81-106CP Calculation of Management Expense Ratio (MER) [Part 10] Conclusion Chapter 7 Special Types of Investment Funds Introduction Commodity Pools Labour-sponsored Investment Funds Mortgage Funds Scholarship Plans Fund of Funds Referenced Portfolio Hedge Funds Split Corporations Flow-through Limited Partnerships Exchange Traded Funds (ETFs) Segregated Funds Financial Statements Financial Highlights Calculation of Management Expense Ratio (MER) for Segregated Funds Calculation of the Portfolio Turnover Rate Exhibit 7.1 Performance Data Conclusion Chapter 8 Transition to International Financial Reporting Standards Introduction Exhibit 8.1 First Time Adoption and Transition (IFRS 1) Overview Authoritative Guidance Current Practices Exhibit 8.2 Study Group Views Exhibit 8.3 Exhibit 8.4 Exhibit 8.5 Future IFRS Developments Publicly Accountable Enterprises Overview Accounting Standards Board (AcSB) Canadian securities regulators Authoritative Guidance Current Practices Study Group Views Conclusion Appendix A Overview of the Investment Funds Industry Investment Fund Definition Legal Structure Types of Funds By Investment Objective Income Funds Money market funds Bond funds Dividend funds Equity Funds Combined Income and Equity Funds Balanced funds Asset allocation funds Typical Organization of a Fund Fund Manager Exhibit A1 Investment Adviser Distributor Custodian Transfer Agent Fund Accountant Investor Servicing Agent Securities Regulations Taxation Appendix B Examples of Financial Statement Presentation and Disclosure Exhibit B1 Fund Mergers Exhibit B2 Income Taxes Exhibit B3 Financial Statements Appendix C Accounting for Specific Types of Securities and Transactions Appendix D Selected Canadian Accounting Standards and Comparable IFRS Applicable to Investment Funds Appendix E Consolidation by Investment Funds Under IFRS (IAS 27) Overview Authoritative Guidance International Current Practices International Canadian GAAP United States GAAP Discussion and Analysis Application of control to Canadian retail mutual funds governed by NI 81-102 Example 1 Background Response Application of control to investment funds not governed by NI 81-102 Exhibit E1 Exhibit E2 Exhibit E3 Example 2 Open ended investment funds (not reporting under NI 81-102) Background Response Example 3 Other fund types direct holdings in an underlying equity investment Background Response Other Factors for Consideration Other related party considerations Temporary control Non-current assets held for sale Changes in control First Time Adoption Study Group Views Alternative courses of action Future IFRS Developments Appendix F Classification of Investor Equity Under IFRS (IAS 1 and IAS 32) Overview Authoritative Guidance International Canadian GAAP United States GAAP Current Practices International Canadian GAAP United States GAAP Discussion and Analysis (including illustrative examples) Part I Review of IAS Amendments Part II Principles-Based Analysis Qualitative characteristics of financial statements (Framework, paragraphs 24 46) Equity versus Liability treatment for Capital Bifurcation of Equity Part III Potential Application of Current IFRS Classification of issued securities Example 1 Example 2 Example 3 Example 4 Example 5 Example 6 Part IV Potential application of current IFRS presentation of residual interest in investment fund First Time Adoption Study Group Views Alternative courses of action Future IFRS Developments Exhibit F1 Glossary Acronyms Selected Bibliography Financial Reporting by Rate-regulated Enterprises
Financial Reporting by Small Business Enterprises
Financial Reporting in North America - Highlights of a Joint Study
The First Audit Engagement
Full Cost Accounting from an Environmental Perspective
General Standards of Financial Statement Presentation - Background Information and Basis for Conclusions - Section 1400
Generally Accepted Accounting Principles - Background Information and Basis for Conclusions - Section 1100
Going Concern - Amendments to Section 1400 - Background Information and Basis for Conclusions (June 2007)
Guide for Developing Quality Control Systems in Public Accounting
Hedges - Background Information and Basis for Conclusions Section 3865
The Impact of Technology on Financial and Business Reporting
Impairment of Long-Lived Assets - Background Information and Basis for Conclusions - Section 3063
Improving Disclosures About Financial Instruments (Amendments to Financial Instruments Disclosures, Section 3862) (June 2009)
Income Taxes - Background Information and Basis for Conclusions - Section 3465
Indicators of Government Financial Condition
Intangible Assets Background Information and Basis for Conclusions Section 3064 (September 2008)
Interactive Data Building XBRL Into Accounting Information Systems
Interim Financial Statements - Background Information and Basis for Conclusions - CICA Handbook Accounting Section 1751
Inventories - Background Information and Basis for Conclusions Section 3031 (June 2007)
Investment Companies - Background Information and Basis for Conclusions - AcG-18
Investment Companies - Amendments to AcG-15 and AcG-18 - Background Information and Basis for Conclusions (June 2007)
Liabilities and Equity - Background Information and Basis for Conclusions - Section 3860
Links between the Budget and the Estimates Accrual budgeting Issues
Maintaining Quality Capital Markets Through Quality Information
Non-Monetary Transactions - Background Information and Basis for Conclusions Section 3831
Not-for-Profit Financial Reporting Guide
Not-for-Profit Organizations Background Information and Basis for Conclusions 4400 Series (November 2008)
Professional Judgment and the Auditor
Rate-Regulated Operations Amendments to Sections 1100 and 3465 and AcG-19 Background Information and Basis for Conclusions (December 2007)
Reporting on Environmental Performance
The Role of Information Technology in Achieving Sustained Regulatory Compliance
Secure IT Infrastructure for E-commerce
Security for Wireless Systems (revised)
Segment Disclosures - Background Information and Basis for Conclusions - CICA Handbook Section 1701
Stakeholder Relationships, Social Capital and Business Value Creation
Understanding Disclosure Controls and Procedures: Helping CEOs and CFOs Respond to the Need for Better Disclosure
Use of Specialists in Assurance Engagements
Using Graphics in Corporate Reporting
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