This summary of Accounting Standards Board (AcSB) decisions has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussion on projects, which may change after further deliberations by the Board. Decisions to publish Handbook material are final only after a formal ballot process.
The AcSB will respond to change and reprioritize when necessary, ensuring we can address implementation challenges and provide the information users may need in these unique circumstances.
The AcSB values input and feedback from interested and affected parties and can be reached anytime through our online form.
Standards for Private Enterprises and Not-for-Profit Organizations
Agriculture
The AcSB considered feedback from its Agriculture Advisory Group on the proposal to provide guidance on accounting for when there is a change in useful life of productive biological assets. The Board decided to include this proposal, as well as the other proposals that were discussed at its December 12, 2024, meeting, in an exposure draft to amend Section 3041, Agriculture.
The AcSB approved the issuance of the exposure draft, as well as the related communications and outreach activities. The Board plans to issue the exposure draft in March 2025, with a 60-day comment period.
Standards for Pension Plans
Improvements to Presentation and Disclosure of Investments for Pension Plans
The AcSB completed its deliberations on comments received on the Exposure Draft, “Improvements to Presentation and Disclosure of Investments for Pension Plans,” after considering the feedback of its Pension Plan Advisory Committee. The Board also reviewed a draft of the amendments, reflecting decisions made at its November 2024 meeting.
The AcSB approved the issuance of the final amendments to Section 4600, Pension Plans, subject to drafting and its formal ballot process. The Board plans to issue the amendments in Q2 2025.
Governance
AcSB’s Annual Plan
The AcSB discussed a revised draft of its Annual Plan for the year beginning on April 1, 2025, and made preliminary decisions on its priorities for the 2025-2026 fiscal year.
The AcSB will present its draft Annual Plan to the Reporting & Assurance Standards Oversight Council in February 2025. The Board’s approval of its Annual Plan is scheduled for March 2025, after considering the Oversight Council’s input.
AcSB’s Strategic Plan
The AcSB conducted preliminary discussions related to its next Strategic Plan. No decisions were made.
Due Process
AcSB’s Advisory Committees and Working Groups
Not-for-Profit Advisory Committee
The AcSB received an update on the December 16, 2024, Not-for-Profit Advisory Committee meeting. At this meeting, the Committee discussed Contributions, Financial Statement Concepts, the Board’s Annual Plan, and more.
Agriculture Advisory Group
The AcSB received an update on the January 9, 2025, Agriculture Advisory Group meeting. At this meeting, the Group discussed the AcSB’s upcoming exposure draft to amend Section 3041, Agriculture.