IFRS® Standards

Onerous Contracts – Cost of Fulfilling a Contract (Proposed amendments to IAS 37)

Summary

The Accounting Standards Board (AcSB) has issued its Exposure Draft that corresponds to the International Accounting Board’s (IASB) Exposure Draft on this topic.

The proposed amendment relates to the assessment of whether a contract is onerous, and would:

Staff Contact(s)

Katharine Christopoulos, CPA, CA, CPA (Illinois)

Senior Principal, Accounting Standards Board

Project Status

  • Information gathering

    Completed prior to July 2018

  • Approving project

    The IASB approved this project in July 2018

  • Consulting stakeholders

    IASB Exposure Draft issued in December 2018

    AcSB Exposure Draft issued in January 2019

  • Deliberating feedback
  • Final pronouncement

Just Released

Respond to AcSB’s Exposure Draft “Onerous Contracts – Cost of Fulfilling a Contract (Proposed amendments to IAS 37) ” by submitting a comment letter (in a Word file). Stakeholders are encouraged to respond by April 15, 2019.

Meeting & event summaries


News


January 10, 2019

Document for Comment

IASB Exposure Draft – Onerous Contracts – Cost of Fulfilling a Contract (Proposed amendments to IAS 37)

The IASB has issued an Exposure Draft proposing amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets. Canadian stakeholders are encouraged to submit their comments to the IASB by April 15, 2019.

January 10, 2019

Document for Comment

AcSB Exposure Draft – Onerous Contracts – Cost of Fulfilling a Contract (Proposed amendments to IAS 37)

The AcSB has issued its Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. Stakeholders are encouraged to submit their comments by April 15, 2019.

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 ballot process.