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AcSB

Intangible Assets

Summary

The International Accounting Standards Board (IASB) added a project on Intangible Assets to its research pipeline based on the analysis of feedback on its Third Agenda Consultation. As part of their initial work on this project, the IASB will comprehensively review the accounting requirements for intangible assets and seek to identify the scope of the project. Research pipeline projects are those that the IASB expects to start before its next five-yearly agenda consultation.

The Accounting Standards Board (AcSB) is undertaking research to get a better understanding on the types of intangibles that are gaining prevalence in the Canadian market and the information required by financial statement users. The Board intends to use this research to inform future international discussions on this topic.

Staff Contact(s)

Matthew Bishop, CPA, CA Principal, Accounting Standards Board

Phone number  +1 647 264 7070
Email address  [email protected]
Jayshal Rajendra Daya, CPA, CA Principal, Accounting Standards Board

Phone number  +1 416 204 3501
Email address  [email protected]

Project Status

  • Information gathering

    The AcSB is undertaking research to get a better understanding on the types of intangibles that are gaining prevalence in the Canadian market and the information required by financial statement users

  • Approving project
  • Engaging Communities
  • Deliberating feedback
  • Final pronouncement

Meeting & event summaries

July 13, 2023

AcSB Decision Summary – June 21-22, 2023

The AcSB approved its “Accounting for Crypto-asset Activities: Crypto-asset Holdings – Payment Tokens” paper for issuance.

The AcSB discussed an outline of a research proposal on crypto-asset activities that seeks to identify whether there are broader issues with the current accounting for crypto-asset activities and whether those issues are leading to information in financial statements that is not decision-useful. The Board also thinks crypto assets could be used as an example to illustrate any potential issues with intangibles that are held for capital appreciation. The Board will review the research findings throughout the project and consider next steps. The Board may also use this research to inform future international discussions on intangibles, given the International Accounting Standards Board (IASB) has a research pipeline project on Intangible Assets.


Disclaimer

This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal voting process.