Accounting Standards Board
Agenda for May 16, 2017 Meeting
The topics the Accounting Standards Board (AcSB) plans to discuss, in addition to routine updates, and anticipated actions, if any, are outlined below. Although current at the date prepared (April 26, 2017), this agenda is subject to change.
International Financial Reporting Standards
Modifications or Exchanges of Financial Liabilities that do not Result in Derecognition
- Table a draft staff response to the IFRS Interpretations Committee’s tentative agenda decision “IFRS 9 Financial Instruments - Modifications or exchange of financial liabilities that do not result in derecognition.”
Prepayment Features with Negative Compensation (previously called Symmetric Prepayment Options)
- Consider the AcSB’s response to the IASB’s Exposure Draft on “Prepayment Features with Negative Compensation (Proposed amendments to IFRS 9).”
Principles of Disclosure
- Discuss some key areas of the IASB’s Discussion Paper, “Disclosure Initiative — Principles of Disclosure” on which the AcSB will seek stakeholder input to inform its response to the IASB.
Standards for Private Enterprises
- Consider recent feedback received from the AcSB’s Private Enterprise Advisory Committee on the measurement of related party financial instruments and discuss recommendations to resolve narrow-scope issues.
Redeemable Preferred Shares
- Decide on when an enterprise is required to reassess its classification of redeemable preferred shares, as well as presentation and disclosure requirements and transitional provisions.
Standards for Not-for-Profit Organizations
Contributions – Revenue Recognition and Related Matters
- Discuss the next steps in carrying out research on the recognition of revenue from contributions, including the feedback received to date from the AcSB’s Not-for-Profit Advisory Committee.
- Approve a proposed update to AcSOC on the AcSB’s application of due process.
- Receive a presentation from members of the Canadian Securities Administrators’ National Instrument 45-106 Committee to better understand the use of the exempt and private market by enterprises to raise capital.
Harry Klompas, CPA, CA
Secretary, Accounting Standards Board
Phone: +1 (416) 204-3236