Financial and Taxation Statistics for Enterprises (AFTS)

Summary of changes

Activity on this program started: 1998

Reference period of change - 2020

In reference year 2020, content changes were introduced to the Survey. This was done to better align the contents of the survey with International Financial Reporting Standards (IFRS) and also meet the data requirements of the System of National Accounts (SNA). Also introduced to the survey were new industry groupings that allow for more granularity in the dissemination of data. Of the former industry groupings, some were merged, others were split and the rest have remained the same. The survey joined the Integrated Business Statistics Program in 2022.

Reference period of change - 2019

Beginning with the 2019 reference year, the Financial and Taxation Statistics for Enterprises does not include provincial and federal level government business enterprises (GBE) that operate in the business sector.

Reference period of change - 2017

Since the 2017 reference year, the Financial and Taxation Statistics for Enterprises has used the North American Industry Classification System (NAICS) Canada 2017.

Reference period of change - 2011

Estimation - The estimates are produced according to the Generally Accepted Accounting Principles (GAAP). Starting on January 1, 2011, the Canadian Institute of Chartered Accountants Accounting Handbook contains both International Financial Reporting standards (IFRS) and Accounting Standards for Private Enterprises (ASPE).

Beginning with the 2011 publication, the Financial and Taxation Statistics for Enterprises series switched from the North American Industry Classification System (NAICS) Canada 2007 to NAICS 2012. Historical data on a NAICS Canada 2012 basis were created using a concordance that converted the old NAICS Canada 2007 codes to the new NAICS Canada 2012 codes.

Reference period of change - 2006

Revisions and seasonal adjustment - With the introduction of NAICS 2007 for reference year 2006, data were revised back to 1999.

Reference period of change - 2003

Target population - As of reference year 2003, enterprises classified to Management of Companies and Enterprises (NAICS 55) are excluded.

The administrative data used from Canada Revenue Agency (CRA) is based on financial statements filed along with annual income tax returns by corporations. Historically, data from fiscal periods ending at any time between January and December were included in the reference year. However, beginning with 2004 and 2003 revised, data from income tax returns for fiscal periods ending between April and March have been included in order to better represent business activity in the calendar period.

Reference period of change - 2002

Data are collected and compiled on the basis of the North American Industrial Classification System (NAICS Canada 1997 updated to NAICS Canada 2002 with this release) for the entire incorporated business population as depicted on Statistics Canada's Business Register. Such a census is made possible by supplementing data collected through Statistics Canada's Quarterly Survey of Financial Statements (QFS) and the survey of provincial or federal level government business enterprises, with administrative data available from Canada Customs and Revenue Agency (CCRA). Consequently, the content of the financial and taxation statistics for enterprises has been affected in two ways. First, although taxation statistics are not available for 1999, they have been re-introduced and published with the 2002 publication. Second, although the financial data are still presented in the basic format of a balance sheet and income statement, certain detail items have changed.

Data sources - Beginning with the 2002 reference year, the government business enterprise data have been adjusted to reflect the calendar period.

Reference period of change - 1999

Beginning with the 1999 reference year, the Financial and Taxation Statistics for Enterprises program has undergone numerous significant changes which affect both the comparability and the historical continuity of the published statistics. Changes in industrial classification (data are now collected and compiled on the basis of the North American Industrial Classification System), methodology, data sources as well as content have all been introduced.

Reference period of change - 1998

From 1988 to 1998, this survey used the Standard Industrial Classification for Companies and Enterprises (SIC-C 1980).