An overview of IRFS on Canadian GAAP — Self-organizing maps (SOMs)MS

Abstract

This study provides an overview of International Financial Reporting Standards (IFRS) and highlights implications on Canadian Generally Accepted Accounting Principles (CGAAP) besides the influence IFRS will have on their future representation of Financial Statements — Annual Reports. However, the IFRS has developed a conceptual framework for the preparation and presentation of Financial Statement, and Financial Reporting in order to harmonize accounting standards that are principal-based, internally consistent, and internationally regulated. Then it became apparent that, conversion to IFRS would lead to better comparability and uniformity of financial statements and it could also become sensitive to challenges in application and adoption of their standards. This paper was designed to identify these changes with the use of Neutral Network, such as Self Organization Maps (T Kohoen's SOMs 1997, 2001) as a financial tool to review financial performance of a company over a period of twelve years — pre and post IFRS along with financial ratios, per se Profitability and other ratios such as, Liquidity, Leverage & Coverage, and Efficiency of a Canadian Company.