Putting IFRS in motion: The potential impact of International Financial Reporting Standards (IFRS) on the Canadian Technology Sector

The transition to IFRS for technology companies throughout Europe and Australia has shown there are some interpretation and application challenges unique to technology companies. This publication aims to highlight some of the significant differences between Canadian GAAP and IFRS that will specifically impact the technology sector.

Throughout this publication we address some of the issues that impact technology sector companies as a result of key characteristics, such as variety and complexity of sales contracts and arrangements. Other areas likely to impact companies in the technology sector that will also need to be considered through the transition to IFRS include:

• First-time adoption of IFRS (IFRS 1)
• Business combinations
• Impairment
• Stock-based compensation

Putting IFRS in motion: The potential impact of International Financial Reporting Standards (IFRS) on the Canadian Technology sector (426 KB) Download the full PDF report.