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Buccaneers Ltd. is planning to switch their accounting rules from ASPE to IFRS. Instruction You are the newly hired Controller and are invited to make

Buccaneers Ltd. is planning to switch their accounting rules from ASPE to IFRS.

Instruction

You are the newly hired Controller and are invited to make a brief presentation to the Board of Directors covering the following:

The income concept of comprehensive income and, (3 marks)

Discuss what is included in this notion of income under IFRS? (6 marks)

Also, what is included in it under ASPE? (2 mark)

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Recommended Textbook for

Fundamentals of corporate finance

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

10th edition

978-0078034633

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