Standards for Private Enterprises

WHAT'S NEW

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.

Private Enterprise Advisory Committee Notes – June 16, 2014
July 15, 2014. These meeting notes are a summary of discussions held.

CPA Magazine Standards Speak – One Size Doesn’t Fit All: The AcSB’s Strategy Holds True
June 5, 2014. In this month’s column, Linda F. Mezon, AcSB Chair, discusses the Board’s comprehensive review of the strategy it put in place to adopt separate accounting frameworks for various entities. Up next: the 2016-2021 strategic plan, which will soon require Canadians’ feedback.

AcSB Due Process Handbook
May 21, 2014. The documentation of the due process procedures followed by the AcSB has been updated.

Private Enterprise Advisory Committee Notes – April 3, 2014
April 15, 2014. These meeting notes are a summary of discussions held.

AcSB Strategic Initiative – Develop Next Strategic Plan
April 8, 2014. The strategic initiative will develop the AcSB’s next strategic plan.  The AcSB will review experience with the current frameworks and seek input from stakeholders on how to better implement its strategies.

CPA Magazine Standards Speak – Get Your Voice Heard!
April 3, 2014. This edition of CPA Magazine contains the first Standards Speak, a monthly column that comments on accounting and auditing standard-setting news and issues that affect Canadians. This month, Glenn Rioux, VP, Standards at CPA Canada, talks about participating in the standard-setting process.

Webinar – Stay Informed about Developments in Canadian GAAP – Spring 2014 Update
April 3, 2014.  Tune in to this webinar on May 8, 2014 (English) or May 26, 2014 (French) to learn about the current activities of the AcSB and how stakeholder input shapes developments in Canadian GAAP.  The webinar will give you an insight into the ongoing developments in accounting standards for IFRSs, ASPE and NFPOs.

Private Enterprise Advisory Committee Notes – February 24, 2014
March 4, 2014. These meeting notes are a summary of discussions held.

Exposure Draft – 2014 Improvements to Accounting Standards for Private Enterprises.
March 3, 2014. The AcSB has issued an Exposure Draft proposing amendments that will affect private enterprises and not-for-profit organizations. Stakeholders are encouraged to submit their comments, on the form provided, by June 2, 2014.

Volunteer Opportunity – Private Enterprise Advisory Committee
January 21, 2014. The AcSB is currently seeking new members to appoint to this Committee.

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