(Solution) - Shaw Communications Inc included this information in its 2008 -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Shaw Communications, Inc.* included this information in its 2008 annual report.
August 31, 2008, 2007, and 2006 (all amounts in thousands of Canadian dollars except share and per share amounts)

Required
a. Observe net income using Canadian GAAP vs. net income using U.S. GAAP, and comprehensive income using U.S. GAAP. Comment on the materiality of the difference between these numbers.
b. Observe the statements are in Canadian dollars. Would there be a significant difference between using Canadian dollars and U.S. dollars? Comment.