Updates from the Accounting Standards Board

Updates from the Accounting Standards Board

The Accounting Standards Board (AcSB) recently released a number of updates, including new Exposure Drafts, decisions, and publications, that may be of interest to Alberta CPAs:

AcSB Decision Summary – May 15, 2019

The Board discussed topics such as IFRS Standards, Agriculture, Employee Future Benefits, Combinations and Contributions, among others.

Learn more on the AcSB website.

Reminder: AcSB Exposure Draft – Revenue

The AcSB proposes, subject to comments received following exposure, to amend Section 3400, Revenue, in Part II of the CPA Canada Handbook – Accounting. The amendments will provide additional guidance on how to apply certain requirements in Section 3400. These amendments would also apply to not-for-profit organizations using the standards in Part III of the Handbook, as relevant. Stakeholders are encouraged to submit their comments by July 31, 2019.

Learn more on the AcSB website.

In Brief – A plain and simple overview of the AcSB’s Exposure Draft on Revenue

This In Brief provides an overview of the key features of the AcSB’s proposals on additional guidance in Section 3400 of the CPA Canada Handbook – Accounting.

Download the AcSB In Brief.

In Brief – AcSB’s decision to not undertake a project on hedge accounting for private enterprises and not-for-profit organizations

The Board heard from stakeholders and is listening! This is an overview of the AcSB’s decision to not proceed with a project to address the hedge accounting guidance in Part II of the CPA Canada Handbook.

Download the AcSB In Brief.

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