Business
DESERT GOLD EARLY ADOPTS INTERNATIONAL FINANCIAL REPORTING STANDARDS
Jul. 5, 2011 (Canada NewsWire Group) -- VANCOUVER, July 5, 2011 /CNW/ - Desert Gold Ventures...
About this update from Desert Gold Ventures Inc.
[{"type":"text","content":"\n\n\n Jul. 5, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, July 5, 2011 /CNW/ - Desert Gold Ventures Inc. (TSX-V: DAU and OTCOX: DAUGF) (the "Company") announces that its application to early adopt International Financial\n Reporting Standards ("IFRS") under National Instrument 52-107 has been\n approved by the applicable Canadian Securities Administrators. The\n Company has chosen to early adopt IFRS and will commence reporting\n under these standards for the period beginning August 1, 2010, with an\n August 1, 2009 date of transition (the "Transition Date"). Comparative\n periods for fiscal 2010 will also be restated under IFRS.\n\n\nAs background, in February 2008, the Canadian Accounting Standards Board\n confirmed that IFRS will replace Canadian generally accepted accounting\n principles ("GAAP") for all publicly accountable enterprises for financial periods\n beginning on and after January 1, 2011, with the option available for\n enterprises to early adopt upon receipt of discretionary approval from\n the Canadian securities regulatory authorities.\n\n\nThe Company believes that the adoption of IFRS will eliminate complexity\n from the its financial statement preparation process by allowing the\n Company to utilize IFRS, the emerging, globally accepted accounting\n standard, for accounting and audit purposes throughout the various\n jurisdictions in which it operates and intends to operate following\n completion of th...