Accounting Standards for Private Enterprises

Overview

Active Projects

Agriculture

The AcSB is deliberating feedback on its Exposure Draft

Employee Future Benefits – Use of a Funding Valuation — Stabilization Provision

The AcSB is developing an exposure draft that it expects to issue no later than the third quarter of 2019

Financial Statement Concepts

The AcSB approved the project in March 2019.

Income Taxes

The AcSB is deliberating feedback on its Exposure Draft

Investments

The AcSB is deliberating feedback on its Exposure Draft

Related Party Transactions

Research underway on related party combinations

Revenue

Exposure Draft issued in May 2019

CPA Canada Handbook

CPA Canada Handbook – Accounting, Part II contains all the accounting standards for private enterprises, set by the AcSB. Its available in print and online.

News


May 1, 2019 News
Playing a Leadership Role – AcSB 2018-2019 Annual Report

Supporting IFRS® Standards implementation to advance Part II and Part III projects, and to enhance the relevance of financial information for all entities – we played a leadership role to help achieve our goals. Read about the AcSB’s 2018-2019 activities and accomplishments in this year’s Annual Report.

April 29, 2019 News
Employee Future Benefits – Use of a Funding Valuation – Stabilization Provision

The AcSB approved a new project to clarify its intent regarding the use of the funding valuation in measuring the defined benefit obligation in relation to Quebec’s Stabilization Provision. The AcSB plans to issue an exposure draft no later than the third quarter of 2019 in response to stakeholder feedback about diversity arising in practice on accounting for changes in pension legislation. 

April 29, 2019 News
At-a-glance – Employee Future Benefits

The AcSB considered an issue at its December 2018 meeting that stakeholders raised about the use of the funding valuation in measuring the defined benefit obligation in relation to Ontario’s Provision for Adverse Deviations. The AcSB decided not to undertake any standard-setting action, but rather communicate its intent. In February 2019, the AcSB wrote a letter to the Canadian Institute of Actuaries to communicate its intent to reduce diversity arising in practice. Read this article for key points noted in this letter.