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.)
Consider the following: measurement is the basis for quantifying items reported in the financial statements.

Required:
a. 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 the measurement of the elements of financial statements.
b. Summarize the substance of these paragraphs.