AcSB

Accounting Standards Board

About the AcSB

The Accounting Standards Board (AcSB) is an independent body with the authority to establish accounting standards for use by all Canadian entities outside the public sector. We serve the public interest by establishing standards for financial reporting by all Canadian private sector entities and by contributing to the development of internationally accepted financial reporting standards.

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Virtual Roundtable Discussion – IASB Exposure Draft, “Provisions – Targeted Improvements”

Join the AcSB for a virtual roundtable discussion (in English) to learn about the IASB’s Exposure Draft, “Provisions – Targeted Improvements.” Don’t miss this chance to share your feedback directly with us to help inform our response to the IASB. Register now to save your spot!

What You Need to Know about Effects of Climate-related Risks and Opportunities on ASPE Financial Statements: Awareness Document

Climate change is impacting businesses worldwide, bringing challenges to both operations and financial reporting. The AcSB is releasing a series of awareness documents, developed to help organizations in navigating climate-related matters using ASPE standards, for improved financial reporting.

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Meeting & event summaries

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December 16, 2024 Not-for-Profit Advisory Committee Notes – December 16, 2024

The Not-for-Profit Advisory Committee discussed Contributions, Financial Statement Concepts, and the AcSB’s 2025-2026 Annual Plan.

December 12, 2024 AcSB Decision Summary – December 12, 2024

The AcSB discussed Subsequent Measurement of Goodwill and Acquired Intangibles, Equity Method, Detailed Review of ASPE, Agriculture and Inventories, its Annual Plan, and more. Read the Decision Summary for full details.

December 3, 2024 IFRS® Accounting Standards Discussion Group Recording – December 3, 2024

Watch the video recording of our Group’s December meeting. Agenda topics included IFRS 9 Financial Instruments, focusing on accounting for debt modifications amid falling interest rates, along with various year-end financial reporting reminders. Don’t miss out on the latest IFRS news! Watch our meeting for a limited time, on demand.

News

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December 16, 2024 Document for Comment

AcSB Exposure Draft – Accounting for Common Control Combinations

The AcSB wants your feedback on its proposed amendments to Section 3840, Related Party Transactions. These proposed narrow-scope amendments address accounting for a combination between enterprises or businesses under common control. Submit your comments by February 14, 2025.

December 9 - January 15, 2025 Meeting, News

Virtual Roundtable Discussions – IASB Exposure Draft, “Provisions – Targeted Improvements”

November 8, 2024 News, Volunteer Opportunity

Volunteer Opportunity – AcSB Advisory Committees

Are you interested in helping shape accounting standards for private enterprises and/or not-for-profit organizations in Canada? The Accounting Standards Board (AcSB) is looking for new members to join its advisory committees! Apply to be a member of the Private Enterprise Advisory Committee, the Not-for-Profit Advisory Committee, or the Medium and Small Practitioners Advisory Committee (formerly Small Practitioners Working Group) by December 15, 2024.