Documentation

There is currently global convergence towards a single set of high quality accounting standards for use throughout the world. Accordingly, the Accounting Standards Board of Canada has adopted a strategic plan to adopt International Financial Reporting Standards (IFRSs) by publicly accountable enterprises in Canada.

If you are carrying on a business or engaged in a commercial activity in Canada, you are required by law to keep adequate records.

Always get receipts or other vouchers when you buy something for your business.