N-1Report - NSPI Accounting Policy and Procedures Manual - Policy 6960 6/11/2010
1 passage
2011 Accounting Standards In February 2008, the CICA announced Canadian Generally Accepted Accounting Principles ("GAAP") for publicly accountable enterprises will be replaced by International Financial Reporting Standards ("IFRS") for fis...
AI summary In 2008, CICA announced IFRS would replace Canadian GAAP for public enterprises starting 2011. Emera (NSPI's parent) transitioned to US GAAP in 2011 due to uncertainty around IFRS rate-regulated standards, expecting fewer accounting policy changes compared to IFRS.
N-2NSPI Amendment to Accounting Policy 6960 for financial instruments and hedges 6/30/2010
1 passage
OBJECTIVE - The Company's financial instruments will adhere to the requirements of US Generally Accepted Accounting Principles (US GAAP) including ASC 815 Derivatives and Hedging. - This policy sets out general guidance for accounting for...
AI summary The Company's financial instruments will comply with US GAAP, specifically ASC 815, which governs derivatives and hedging. This policy outlines accounting guidance and documentation requirements for these instruments.
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