Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 27 NOVEMBER 2017

Technical Bulletin: November 2017

Collins Barrow National Incorporated
Explore more from Collins Barrow National Incorporated

Exposure draft issued by the AcSB in October 2017 proposes to amend Section 3856 with respect to the accounting for financial instruments between related parties and significant risk disclosures.

CanadaAccounting and Audit
Jim King
Jim King
Inna Kleiman
Inna Kleiman
Author LinkedIn connections

1. Accounting

ACCOUNTING STANDARDS FOR PRIVATE ENTERPRISES (ASPE)

New developments

Accounting for Related Party Financial Instruments and Significant Risk Disclosures (Proposed amendments to Financial Instruments, Section 3856)
Exposure draft issued by the AcSB in October 2017 proposes to amend Section 3856 with respect to the accounting for financial instruments between related parties and significant risk disclosures. Initial measurement of related party financial instruments will be as follows:

  • financial instruments measured at cost, unless the instrument is equity that is quoted in an active market or a derivative contract,
  • financial instruments that are quoted in an active market and derivative contracts measured at fair value without any adjustment.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

CSA Publishes Final Amendments To Align Non-GAAP Financial Measures Disclosure Requirements With IFRS 18

The Canadian Securities Administrators have finalized amendments to National Instrument 52-112 to address the introduction of IFRS 18, which introduces management-defined performance measures requiring disclosure in financial statement notes. These amendments ensure that measures historically treated as non-GAAP financial measures remain subject to regulatory disclosure requirements when disclosed outside financial statements...
CanadaAccounting and Audit
Fogler, Rubinoff LLP
Fogler, Rubinoff LLP
Article

Canada To Adopt International Financial Reporting Standards: An Update

Earlier this year, the Canadian Accounting Standards Board confirmed January 1, 2011 as the date that International Financial Reporting Standards (IFRS) will replace Canadian generally accepted accounting principles (Canadian GAAP) for all Canadian publicly traded companies as well as for non-listed financial institutions, securities dealers and many cooperative enterprises that qualify as “publicly accountable enterprises.”
CanadaAccounting and Audit
Torys
Torys
Article

CSA Finalizes Amendments To Non-GAAP And Other Financial Measures Disclosure Requirements Ahead Of IFRS 18

The Canadian Securities Administrators have finalized amendments to National Instrument 52-112 governing non-GAAP financial measures disclosure, primarily in response to the adoption of IFRS 18. These changes ensure that management-defined performance measures remain subject to disclosure requirements when presented outside financial statements, while introducing new prominence requirements for additional subtotals and allowing incorporation by reference to avoid duplicative disclosure.
CanadaAccounting and Audit
Bennett Jones LLP
Bennett Jones LLP