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File: 29230/FNR202111445 November 17, 2021 Sent via email:Re: Request for Access to Records Freedom of Information and Protection of Privacy Act (FOIPPA) I am writing further to your request received
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Notes transition notes are useful for individuals or teams who are responsible for passing on information or knowledge to others.
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Notes transition notes refer to the documentation required for the transition of certain accounting and financial reporting standards.
Entities that are transitioning between different accounting standards or reporting frameworks are required to file notes transition notes.
To fill out notes transition notes, companies should follow the prescribed format, providing details about the transition, including previous and new accounting policies, and any impacts on financial statements.
The purpose of notes transition notes is to provide transparency and clarity about the changes in accounting policies and their impact on financial reporting.
Information that must be reported includes the nature of changes in accounting policies, rationale for transition, and effects on financial position and performance.
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