The Public Sector Accounting Board (PSAB) proposes, subject to comments received following exposure, to amend FINANCIAL INSTRUMENTS, Section PS 3450, in the CPA Canada Public Sector (PSA) Accounting Handbook.
The Basis for Conclusions, which accompanies this Exposure Draft, addresses alternative views and the Board position, with its reasons.
Main features of the Exposure Draft
Narrow-scope amendments are being proposed to:
- change the accounting treatment for debt buybacks;
- clarify aspects of the Section’s application; and
- add new guidance to the transitional provisions.