Financial Reports
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BC Ferries' Investor Relations
Financial Reporting
Note: BC Ferries' fiscal year ends March 31st.
International Financial Reporting Standards
In 2006, the Canadian Accounting Standards Board (AcSB) published a new strategic plan that will significantly affect financial reporting requirements for Canadian companies. The AcSB strategic plan outlines the convergence of Canadian generally accepted accounting principles with International Financial Reporting Standards (IFRS) over an expected five year transitional period. During March 2008, the AcSB confirmed the transition dates for conversion to IFRS. Our transition date for the conversion to IFRS is April 1, 2011 and will require the restatement for comparative purposes of amounts reported by us for the year ended March 31, 2011. We are continuing to assess the financial reporting impacts of the adoption of IFRS and, at this time, the impact on the future financial position and results of operations is not reasonably determinable or estimable.
We commenced our IFRS conversion project in 2007 and have established a formal project governance structure with regular reporting. We have also engaged a quality assurance advisor to assist in the project.
Our IFRS conversion project consists of three phases: scoping and diagnostic; analysis and development; and implementation and review. The first phase, which has been completed, involved project planning and resourcing, identification of differences between current Canadian GAAP and IFRS and priority setting. The areas identified to have the highest potential to significantly impact us are rate regulated operations; property plant and equipment, intangible assets and asset impairment; and initial adoption of IFRS under the provisions of IFRS 1 First-Time Adoption of IFRS.
The second phase, which involves detailed analysis and evaluation of options and alternative methodologies available under IFRS and the financial impact of these options, is currently in progress. We anticipate that the adoption of IFRS will have an impact on our system requirements; however the degree of impact is not reasonably determinable at this stage of the project. We will continue to closely monitor the proposed and continuing projects of the International Accounting Standards Board and any International Financial Reporting Interpretations Committee initiatives that may potentially impact rate-regulated accounting under IFRS.
2008/09 (PDF 2MB/24 pages)
2007/08 (PDF 2.52 MB/102 pages)
2006/07 (PDF 3.80MB/92 pages)
2005/06 (PDF 6.23MB/88 pages)
2004/05 (PDF 3.07MB/76 pages)
2003/04 (PDF 3.83MB/68 pages)
Quarterly Reports
Fiscal Year Ending 2009
Quarter 1 June 30, 2008
Financial Statements (PDF 6.32MB/19 pages)
Management's Discussion & Analysis (PDF 128K/25 pages)
Quarter 2 September 30, 2008
Financial Statements (PDF 1.16MB/21 pages)
Management's Discussion & Analysis (PDF 138K/27 pages)
Fiscal Year Ending 2008
Quarter 1 June 30, 2007
Financial Statements (PDF 2.72MB/12 pages)
Management's Discussion & Analysis (PDF 145K/19 pages)
Quarter 2 September 30, 2007
Financial Statements (PDF 2.9MB/12 pages)
Management's Discussion & Analysis (PDF 148K/30 pages)
Quarter 3 December 31, 2007
Financial Statements (PDF 3MB/14 pages)
Management's Discussion & Analysis (PDF 324K/31 pages)
Year End Results March 31, 2008
Financial Statements (PDF 6.35MB/29 pages)
Management's Discussion & Analysis (PDF 254K/54 pages)
Fiscal Year Ending 2007
Quarter 1 June 30, 2006
Financial Statements (PDF 192K/8 pages)
Management's Discussion & Analysis (PDF 130K/15 pages)
Quarter 2 September 30, 2006
Financial Statements (PDF 402K/10 pages)
Management's Discussion & Analysis (PDF 175K/18 pages)
Quarter 3 December 31, 2006
Financial Statements (PDF 429K/11 pages)
Management's Discussion & Analysis (PDF 179K/18 pages)
Year End Results March 31, 2007
Financial Statements (PDF 5.57MB/23 pages)
Management's Discussion & Analysis (PDF 221K/38 pages)
Fiscal Year Ending 2006
Quarter 1 June 30, 2005
Financial Statements (PDF 37K/7pages)
Management's Discussion & Analysis (PDF 162K/11 pages)
Quarter 2 September 30, 2005
Financial Statements (PDF 31K/8 pages)
Management's Discussion & Analysis (PDF 77K/13 pages)
Quarter 3 December 31, 2005
Financial Statements (PDF 35K/11 pages)
Management's Discussion & Analysis (PDF 100K/17 pages)
Year End Results March 31, 2006
Financial Statements (PDF 734K/23 pages)
Management's Discussion & Analysis (PDF 2.30MB/37 pages)
Fiscal Year Ending 2005
Quarter 1 June 30, 2004
Financial Statements (PDF 97K/8 pages)
Management's Discussion & Analysis (PDF 143K/7 pages)
Quarter 2 September 30, 2004
Financial Statements (PDF 31K/9 pages)
Management's Discussion & Analysis (PDF 38K/9 pages)
Quarter 3 December 31, 2004
Financial Statements (PDF 96K/10 pages)
Management's Discussion & Analysis (PDF 165K/11 pages)
Year End Results March 31, 2005
Financial Statements (PDF 861K/22 pages)
Management's Discussion & Analysis (PDF 303K/21 pages)
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