U3O8 Corp. to early adopt Int. Financial Reporting Standards in 2010
Fri, Oct 23, 2009
U3O8 Corp., a Canadian uranium exploration company, reportsthat the Canadian Securities Administrators have approved its application for early adoption of International Financial Reporting Standards as issued by the International Accounting Standards Board, for the financial year beginning on January 1, 2010.
Accordingly, U3O8 Corp. will report interim and annual financial statements in accordance with IFRS beginning with the quarter ended March 31, 2010. The Corporation’s 2010 interim and annual financial statements will include comparative 2009 financial statements, adjusted to comply with IFRS.
IFRS Transition Plan and Impact on U3O8 Corp.
U3O8 Corp. has established a comprehensive IFRS transition plan and engaged third-party advisers to assist with the planning and implementation of its transition to IFRS. The following summarizes the Corporation’s progress and expectations with respect to its IFRS transition plan:
Completed - Initial scoping and analysis of key areas for which accounting policies may be impacted by the transition to IFRS.
For full details of this press release, click this link.
Uranium Investing News researchers discovered U308 Corp.’s project described on their website.
Follow developments in uranium mining and exploration for free.
Sign on to the Uranium Investing Newsletter.
Tags: accounting policies, Canadian uranium exploration company, IFRS, initial scoping, International Financial Reporting Standards, u308, U3O8 Corp., Uranium, uranium industry, uranium sector
Leave a Reply