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Accounting Standards for Private Enterprises

Financial Instruments

Summary

There is diversity in accounting for related party financial instruments. There are also concerns regarding the usefulness of some financial statement disclosures related to financial instruments.

Staff Contact(s)

Andrew White, CPA, CA Associate Director, Accounting Standards Board

Phone number  +1 416 204 3487
Email address  [email protected]

Project Status

  • Information gathering

    Completed prior to October 2014

  • Approving project

    The AcSB approved the project in January 2017

  • Consulting stakeholders

    Exposure Draft issued October 2017

    Consultation took place with stakeholders and the AcSB’s Private Enterprise Advisory Committee through the Board’s Post-Implementation Review of Section 3856, Financial Instruments from October 2014–February 2015

    Consultation with the AcSB’s Private Enterprise Advisory Committee and Not-For-Profit Advisory Committee occurred between October 2014–August 2018

    Public outreach November 2017–February 2018

  • Deliberating feedback

    Amendments were approved by the AcSB in September 2018

  • Final pronouncement

    The final amendments were issued in the CPA Canada Handbook – Accounting in December 2018

Webinar – Amendments to Section 3856, Financial Instruments

Watch this on-demand webinar to learn more about amendments to the accounting for retractable or mandatorily redeemable shares and other financial instruments.

Watch Now

Implementation

Read CPA Canada’s briefing detailing the amendments and what factors to consider when applying them.

Read Now
Disclaimer

This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal voting process.