Effective Dates for New Standards
Public Sector Accounting

This summary of recently issued Public Sector Accounting Board (PSAB) pronouncements has been prepared for information purposes only. Reference should be made to official CPA Canada Public Sector Accounting Handbook material for the text of final PSAB pronouncements.

 

Topic

       

Effective for

 

April 1, 2019:

   
  Financial Statement Presentation,
Section PS 1201
  When Sections PS 2601 and PS 3450 are adopted.
  Foreign Currency Translation,
Section PS 2601
  Fiscal years beginning on or after April 1, 2019 except for government organizations that applied the CPA Canada Handbook – Accounting prior to adopting the CPA Canada Public Sector Accounting Handbook. Earlier adoption is permitted when adopting Sections PS 1201 and PS 3450.
  Portfolio Investments, Section PS 3041   When Sections PS 1201, PS 2601 and PS 3450 are adopted.
  Financial Instruments, Section PS 3450   Fiscal years beginning on or after April 1, 2019 except for government organizations that applied the CPA Canada Handbook – Accounting prior to adopting the CPA Canada Public Sector Accounting Handbook. Earlier adoption is permitted when adopting Sections PS 1201 and PS 2601.
 

April 1, 2018:

   
  Restructuring Transactions, Section PS 3430   Fiscal years beginning on or after April 1, 2018. Earlier adoption is permitted.
 

April 1, 2017:

   
  Related Party Disclosures, Section PS 2200   Fiscal years beginning on or after April 1, 2017. Earlier adoption is permitted.
  Assets, Section PS 3210   Fiscal years beginning on or after April 1, 2017. Earlier adoption is permitted.
  Contingent Assets, Section PS 3320   Fiscal years beginning on or after April 1, 2017. Earlier adoption is permitted.
  Contractual Rights, Section PS 3380   Fiscal years beginning on or after April 1, 2017. Earlier adoption is permitted.
  Inter-entity Transactions, Section PS 3420   Fiscal years beginning on or after April 1, 2017. Earlier adoption is permitted.
 

January 1, 2017:

   
  Introduction to Public Sector Accounting Standards   Fiscal years beginning on or after January 1, 2017.