Accounting Standards for Private Enterprises

Overview

Active Projects

Detailed Review of Accounting Standards for Private Enterprises

The AcSB expects to issue a consultation paper in early 2025

Evaluating the Preface

AcSB is researching issues with the current Preface of the CPA Canada Handbook – Accounting to identify potential solutions

Financial Statement Concepts

The AcSB is researching issues with Section 1000, Financial Statement Concepts, and Section 1001, Financial Statement Concepts for Not-for-Profit Organizations in Parts II and III of the CPA Canada Handbook – Accounting, respectively, to identify potential areas for improvement

Insurance Contracts with Cash Surrender Value

The AcSB is currently deliberating feedback on the Exposure Draft

View Comments

Subsequent Measurement of Goodwill and Acquired Intangible Assets

The AcSB is conducting public outreach to inform exposure draft proposals

CPA Canada Handbook

CPA Canada Handbook – Accounting, Part II contains all the accounting standards for private enterprises, set by the AcSB. It's available in print and online.

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News

May 31, 2024 Resource, Guidance

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.

May 9, 2024 Meeting Summary

Private Enterprise Advisory Committee Notes – May 9, 2024

The Committee held a meeting on May 9, 2024, and discussed relief from recognition of intangible assets and amortization of goodwill, insurance contracts with cash surrender, and more. Read the meeting notes for full details!

May 1, 2024 News

AcSB issues amendment to Section 3400, Revenue

The AcSB issued an amendment to Section 3400, Revenue, to indefinitely defer the effective date of previously issued amendments relating to upfront non-refundable fees or payments. Earlier application is permitted. The amendments also introduce a disclosure requirement for some upfront non-refundable fees or payments.