Obtain the 2014 financial statements of Teck Resources Limited from SEDAR (www.sedar. com).

(a) Using the notes to the consolidated financial statements, determine the company's revenue recognition policy. Comment on whether the company uses an aggressive or conservative method for reporting revenue.

(b) Give two examples of where historical cost information is reported in the financial statements and related notes. Give two examples where fair value information is reported in either the financial statements or the related notes.

(c) Did Teck adopt any new accounting policies during the current year? What treatment were these changes given in the financial statements? Explain how the conceptual framework became the basis for the adoption and treatment of this policy. What effect, if any, did the changes have on Teck's financial statements?

(d) Did Teck implement any new pronouncements under IFRS ahead of the implementation deadlines? What were the reasons given for the adoption or non-adoption? From the perspective of a user of the financial statements, would you be in agreement with the treatment given by Teck?