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ARTICLE · 25 AUGUST 2017

Technical Bulletin: August 2017

Collins Barrow National Incorporated
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This Technical Bulletin covers the various developments from May 2017 to July 2017.

CanadaAccounting and Audit
Jim King
Jim King
Inna Kleiman
Inna Kleiman
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ACCOUNTING

ACCOUNTING STANDARDS FOR PRIVATE ENTERPRISES (ASPE)

Active projects – watch for further activity on these matters

Proposed change Summary Status
Redeemable Preferred Shares Issued in a Tax Planning Arrangement Amendment to Section 3856 regarding the current exemption of classifying redeemable preferred shares issued in a tax planning arrangement as equity. The AcSB reaffirmed its view that the basis for the exception should be on the condition of retention of control of the enterprise and decided that the control of the enterprise must be retained by the party receiving the redeemable preferred shares. The AcSB further decided on the additional conditions necessary to qualify for equity classification which determine that control of the future cash outflows of the enterprise has not changed.

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