Accounting Standards Board
Exposure Draft – Redeemable Preferred Shares Issued in a Tax Planning Arrangement
October 1, 2014. The AcSB has issued an Exposure Draft that proposes to delete Financial Instruments, paragraph 3856.23, and includes a Basis for Conclusions. Stakeholders are encouraged to submit their comments, on the form provided, by January 15, 2015.
Final Amendments – Annual Improvements to IFRSs 2012 – 2014 Cycle
October 1, 2014. The IASB has issued final amendments to four IFRSs as part of its annual improvements project. The amendments are effective for annual periods beginning on or after January 1, 2016.
AcSB Meeting Agenda – October 15, 2014
September 30, 2014. A summary of topics for discussion.
Webinar – Stay Informed about Developments in ASPE: Fall 2014 Update
October 1, 2014. Tune in to this webinar on October 28, 2014 (French) or November 19, 2014 (English) to learn about the AcSB’s current activities with regards to ASPE.
IASB Exposure Draft – Quoted Investments in Subsidiaries, Joint Ventures and Associates at Fair Value (Proposed amendments to IFRS 10, IFRS 12, IAS 27, IAS 28 and IAS 36)
September 24, 2014. The IASB has issued an Exposure Draft proposing amendments regarding the measurement of investments in subsidiaries, joint ventures and associates at fair value when those investments are quoted in an active market. Canadian stakeholders are encouraged to submit their comments to the IASB by January 16, 2015.
AcSB Response – Investment Entities: Applying the Consolidation Exception (Proposed amendments to IFRS 10 and IAS 28)
September 23, 2014. The AcSB has submitted a comment letter responding to the IASB’s Exposure Draft issued in June 2014.
IASB Discussion Paper – Reporting the Financial Effects of Rate Regulation
September 22, 2014. The IASB has issued a Discussion Paper exploring what information about rate-regulated activities is most useful to users of financial statements and the possible approaches to reporting the financial effects of rate regulation. Canadian stakeholders are encouraged to submit their comments to the IASB by January 15, 2015.
AcSB Decision Summary – September 3-4, 2014
September 15, 2014. An executive summary of discussions and decisions with respect to the topics addressed at this meeting.
Final Amendments – Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to IFRS 10 and IAS 28)
September 15, 2014. The IASB has issued narrow-scope amendments to IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures to address an inconsistency between requirements in IFRS 10 and IAS 28. The amendments are effective for annual periods beginning on or after January 1, 2016 with earlier application permitted.
IFRS Discussion Group – Report on June 12, 2014 Meeting
September 11, 2014. Read the report for details about the Group’s discussions. Listen to the audio recordings to hear the Group’s full discussion.
Final Standard – Joint Arrangements
September 5, 2014. The AcSB has issued new Section 3056, Interests in Joint Arrangements and amendments to Section 3051, Investments. Section 3056 replaces Section 3055, Interests in Joint Ventures, and eliminates the free choice in accounting for joint arrangements. The new and amended Sections are effective for fiscal years beginning on or after January 1, 2016 with earlier application permitted.
Final Standard – Consolidations
September 5, 2014. The AcSB issued the new Section 1591, Subsidiaries, which replaces Section 1590, Subsidiaries, and AcG-15, Consolidation of Variable Interest Entities. Section 1591 includes additional guidance to judge when control is obtained through means other than equity interests. This standard is effective for fiscal years beginning on or after January 1, 2016 with earlier application permitted.