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• The application of new Handbook Sections.

• Consider whether the authority to pay is a requirement to record a transfer liability.

• Consider indicators of when the actions and communications of a transfer recipient evidence little or no discretion to avoid a liability.

• Consider whether a liability arises due to stipulations associated with a government transfer that requires the acquisition and use of tangible capital assets.

• Consider the presentation of sinking funds associated with government debt issued specifically on behalf of a government business enterprise.

• Consider the reporting implications when an adjustment is recorded in a period subsequent to identification of an accounting error.

• Consider whether sites currently in productive use are accounted for in accordance with Section PS 3260 and different views on “productive use”.

• Consider different views on basing the budget figures presented by a governmental unit on those originally planned.

• Consider different views on presenting debt obligations issued by a government on behalf of a governmental unit that subsequently becomes a government business enterprise.

• Consider different views on presenting net debt and a statement of changes in net debt by a governmental unit.

• Consider different views on the recognition of an expense by a transferring government.

• Consider different views on accounting changes arising from the implementation of new accounting standards by a government business enterprise.

• Consider the circumstances of an organization that controls an investment corporation and has adopted IFRS.

• Consider different views on the classification of retirement benefit arrangements with "shared risk" characteristics.

• Consider the merits of two aspects of the proposed reporting model: net debt, and the possible recognition of some revenue and expense arising in a period outside of the period’s surplus/deficit – directly in a component of net assets or net liabilities.

• Consider issues that may arise when presenting a comparison of the results for the accounting period with those originally planned.

• Consider different views on the measurement of the accrued benefit obligation when retirement benefit arrangements have "shared-risk" characteristics.

• Consider what constitutes the scope and characteristics of the public interest.

• Consider how SORPs support reporting on the performance of public sector entities.

• Consider use of the term “contractual obligations” in describing matters to be disclosed.

• Consider different views on accounting by municipalities and government organizations, for gas tax funding under new federal agreements.

• Consider different views on the application of Section PS 3260.

• Consider alternatives to the term “net debt”.

Acquisition and Development of Software Associated with Cloud Computing

• Consider alternative ways to account for software associated with cloud computing.

• Consider different views on the recognition of a liability for remediation of a contaminated site for sites that have not been tested for contamination.

• Review a draft public interest framework for PSAB.

• Consider different views of accounting for vacation paid in the year of retirement.

• Consider the definition of government in relation to First Nations Trusts in applying the requirements of Section PS 1300.

• Consider different views on the recognition of endowments in the financial statements of government not for profit organizations that use the PSA Handbook without the PS 4200 series in preparing their financial statements.

• Consider the need for guidance on the making and documentation of professional judgments.

• Consider a presentation that contrasts these standards and discuss their differences.

• Consider whether early intervention investments can be recognized as assets in public sector financial statements

• Consider whether urban forests can be recognized as assets in public sector financial statements

• Consider how to apply the Introduction to Public Sector Accounting Standards in determining the standards to be applied by not-for-profit-organizations

• Consider the application of guidance on determining shared control in relation to government partnerships

• Consider the nature of an investment holding company in the public sector and if it can meet the definition of a government business enterprise

• Consider whether there are varying interpretations of the need to have the authority to pay before a transfer receivable is recognized.

• Consider selected issues relating to foreign currency denominated debt for government departments and organizations.

• Consider the economic substance of trusts and holding companies for the purposes of applying Section PS 1300.

• Consider the implications for public sector GAAP of compliance-type audit reports on general purpose financial statements not prepared in accordance with the PSA Handbook.

• Consider whether it is permissible on consolidation for a controlling entity to not conform the accounting for the operating leases of a consolidated entity from IFRS 16 to the accounting requirements of PSG-2.

• Consider the adjustments a recipient might make in recognizing assets received in a restructuring that are immaterial to the transferor but material to the recipient.

• Consider the extent to which the PSA Handbook allows green infrastructure to be recognized in public sector financial statements.

• Consider how social impact bonds should be accounted for in the financial statements of a government funder.

• Consider the merits of two of PSAB’s proposed financial statement concepts: control, and service capacity.

• Consider the merits of the criteria PSAB proposes to use in evaluating options for a future international strategy.

• Consider whether off-site lot levies should be recognized as liabilities if unused for specified purposes at the reporting date, or as tax revenue as the land to which the levies apply is developed.

• Consider the need for liability recognition of claims relating to incidents that are unknown to the reporting entity, but occurred before the reporting date.

Section PS 3070: Accounting for Indigenous Government Business Enterprises

• Consider five issues relating to the accounting for government business enterprises (GBEs) in the financial statements of Indigenous governments.

Section PS 3380, Contractual Rights

• Consider whether various scenarios meet the definition of contractual rights that should be disclosed.

Sections PS 1000 and PS 1201: Green Infrastructure – Further Issues

• Consider further issues in accounting for green infrastructure in public sector financial statements

Statement of Principles: “A Revised Reporting Model for the Canadian Public Sector”

• Consider the merits of a key proposed aspect of the proposed reporting model: the possible recognition of some revenue and expense arising in a period outside of the period’s surplus/deficit – directly in a component of net assets or net liabilities.

PSAB’s International Strategy – Consultation Paper 2

• Consider PSAB’s options for a future international strategy.

Section PS 3380: Developer Fees and Contractual Rights

• Consider whether developer agreements give rise to contractual rights that should be disclosed.

Section PS 3450: Accounting for Cryptocurrencies

• Consider how to account for cryptocurrencies held by a public sector entity.

Section PS 3510: Taxes Levied for Specific Purposes

• Consider when taxes levied for specific purposes would require recognition of a liability.

Sections PS 1000 and PS 1201: Accounting for Purchased Intangibles

• Consider whether purchased intangibles can be recognized in public sector financial statements.

PSAB’s Government Not-For-Profit Consultation Paper

• Provide advice to PSAB on advantages and disadvantages from a user perspective of consistent reporting between governments and GNFPOs, and/or within GNFPO subsectors.

Sections PS 1300 and PS 3070: When is a GBE no longer a GBE?

• Consider factors that may indicate that the government business enterprise (GBE) definition is no longer met and a change in financial reporting framework is required.

Sections PS 3400 and PS 3510: User fees versus Taxes 

• Consider whether a levy is a user fee or a tax, and whether Section PS 3400, Revenue, or Section PS 3510, Tax Revenue, would thus apply.

The Final Report of the Expert Panel on Sustainable Finance

• Consider the implications for public sector financial reporting and standard setting.

Section PS 1300: First Time Consolidation When There is a Change in Control

• Consider the impact of a change in governance on the assessment of control for consolidation purposes.

Implementation Costs When Cloud Computing Solutions are not Software Assets

• Consider whether an asset would be recognized for implementation costs and if so, its amortization, taking into account extension options.

Future Considerations: Roundtable on Emerging Issues

• The Group will discuss emerging issues in public sector financial reporting.

Government Not for Profit Organizations (GNFPOs): Changing Financial Reporting Frameworks

• Consider the “private sector counterparts” aspect of the definition of a GNFPO and the impact of controlled profit-oriented entities on the classification of a government organization as a GNFPO.

PSAB’s Proposed Government Not-for-Profit Strategy

• Consider PSAB’s proposed GNFP Strategy of PSAS incorporating the PS 4200 series with potential customizations, if this strategy best meets the Canadian public interest, and ways to implement it.

PSAB’s Proposed New Reporting Model: Two Exposure Draft Proposals

• Consider the proposal to create two categories of liabilities, financial and non-financial, and whether the distinction between them is clear.

Section PS 3280, Asset Retirement Obligations (AROs): Issues Applying the Modified Retroactive Transition Method

• Consider applying the modified retroactive method of transitioning to Section PS 3280 to two scenarios: a building constructed with asbestos when the legislation requiring its removal is enacted after the construction date; and a fully amortized asset that remains in productive use.

Section PS 3450: Embedded Derivatives in Own-use Contracts

• Consider whether embedded derivatives in own-use contracts are in the scope of Section PS 3450.

Accounting for Extreme Weather: Effects on Tangible Capital Assets

• Consider the impacts of extreme weather events on public sector entities’ reporting and disclosure of tangible capital assets. 

Inventorying of Natural Assets – Considerations on How to Develop a Natural Asset Inventory

• Consider concepts and approaches on how public sector entities may be able to assemble a natural assets inventory.

Exploring Scalability of Standards

• Considers the scaling the existing accounting frameworks to better meet the reporting needs of public sector entities and the information needs of their financial statement users.

Accounting for Extreme Weather: Effects on Tangible Capital Assets

• Consider the impacts of extreme weather events on public sector entities’ reporting and disclosure of tangible capital assets. 

Application of GAAP Hierarchgy – Operating Leases, Lessee Accounting Treatment

• Consider the accounting treatment that public sector entities should apply to operating leases.

Asset Retirement Obligations: Exploration of Potential Application Issues

• Consider potential applications issues public sector entities may experience in exercising professional judgment when evaluating certain aspects of asset retirement obligations.

PSAB’s Proposed New Reporting Model: Two Exposure Draft Proposals

• Consider the benefits, issues, and challenges with reporting natural capital in financial statements.

International Public Sector Accounting Standards Board Consultation Paper, Advancing Public Sector Sustainability Reporting

• Consider the benefits, issues, and challenges with the introduction of IPSASB’s Consultation Paper on Sustainability Reporting

General Application Standards: Effective Dates and Application

• Consider various application methods with respect to general application standards

Climate-related questions to ask under existing GAAP

• Consider financial reporting implications of climate-related impacts

Section PS 1000 and PS 3210: Can a Public Sector Entity Recognize an Asset for Carbon Credits?

• Consider the uncertainty that Public Sector Accounting Standards (PSAS) would apply to the recognition and measurement of carbon credits in various circumstances.

Presenting Certain Items on the Statement of Cash Flow

• Consider issues related to how public sector organocations need to present various items in the Statement of Cash Flows.

Cloud Computing: Accounting for Implementation Costs in the Context of a Government Partnership.

• Consider whether implementation costs related to Cloud Computing Arrangements that are service arrangements should be capitalized or expensed under PSAS.

Cloud Computing: Accounting for Implementation Costs in the Context of a Government Partnership

• Consider how to account for implementation costs incurred in a cloud computing arrangement, which is a service arrangement by individual partners to a government partnership.

Canadian Economic Overview and potential Impacts to the Public Sector

• Introductory overview provided by CPA Canada’s Chief Economist on economic trends and considerations of potential impacts to the Canadian public sector to support discussions for the two agenda topics.

Impacts of Rising Inflation and Economic Environment on Financial Reporting 

• Considered issues relating to how public sector organizations are to assess the financial and accounting impacts resulting from shifts in economic outlook

Auditor Reporting on Going Concern: Public Sector Considerations

• Considered issues relating to how public sector organizations are to assess the financial and accounting impacts resulting from shifts in economic outlook.