This summary of decisions of the Public Sector Accounting Board (PSAB) has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on projects, which might change after further deliberations by PSAB. Decisions to publish exposure draft and Handbook material are final only after a formal ballot process.
Standards for Public Sector Entities
Financial Instruments – Narrow Scope Amendments
PSAB received an overview of the accounting proposals prepared by the Canadian Council of Comptrollers and reviewed recommendations from the Board’s Financial Instruments Subcommittee. The Board agreed to pursue the development of additional narrow-scope amendments to address the following topics:
- presentation of the fair value of derivatives;
- presentation of certain foreign exchange gains/losses and changes in the fair value of associated derivatives; and
- accounting for rate-setting transactions.