 Amendments to IFRS 1
September 2, 2010. The IASB has issued an Exposure Draft proposing to amend IFRS 1 First-time Adoption of International Financial Reporting Standards by replacing references to a fixed transition date with “the date of transition to IFRSs”. The comment deadline is October 27, 2010. Stripping Costs in the Production Phase of a Surface Mine
September 2, 2010. The IFRS Interpretations Committee has issued a Draft IFRIC Interpretation proposing guidance on how to account for the process of removing waste from a surface mine in order to gain access to mineral ore deposits. The comment deadline is November 30, 2010. FYI Newsletter August 2010
August 31, 2010. The August issue includes the message from the Chair and articles on other topics of interest to stakeholders. Fair Value Measurement
August 24, 2010. The IASB has posted a staff draft of the forthcoming standard that reflects the tentative decisions made to date by the IASB and the FASB in developing a common standard. Leases
August 18, 2010. The IASB has issued an Exposure Draft proposing to improve the financial reporting of lease contracts. The proposals would result in a consistent approach to lease accounting for both lessees and lessors. The comment deadline is December 15, 2010. Extractive Activities
August 13, 2010. The AcSB has submitted a comment letter responding to the IASB’s Exposure Draft. Conceptual Framework — The Reporting Entity
August 13, 2010. AcSB staff has submitted a comment letter responding to the IASB’s Exposure Draft. Financial Statement Presentation — Replacement of IAS 1 and IAS 7
August 13, 2010. The IASB has posted a staff draft of the proposed standard that would guide the organization and presentation of information in the financial statements. The IASB is undertaking additional outreach activities, including meetings with interested parties, prior to finalizing an exposure draft. Revenue from Contracts with Customers
August 5, 2010. The AcSB has issued an Exposure Draft (ED) that corresponds to the IASB’s ED on this topic. Comments, on the form provided, are requested by October 22, 2010. Insurance Contracts
August 5, 2010. The IASB has issued an Exposure Draft proposing a new International Financial Reporting Standard that would apply to all types of insurance contracts on a consistent basis. The comment deadline is November 30, 2010. Asset and Liability Offsetting
August 5, 2010. The IASB has issued a survey for financial statement users seeking input on the captioned topic. Responses to the survey are due by August 20, 2010. Revenue from Contracts with Customers — Roundtable
August 3, 2010. Attend a roundtable discussion on Wednesday, August 25, 2010 from 10:00 – 12:00 EDT to share your views on the IASB's proposed new standard. Measurement Uncertainty Analysis
August 3, 2010. The IASB has issued a questionnaire for financial statement users seeking input on the captioned topic. Responses to the survey are due by September 7, 2010. Accounting Standards Board Seeks Stakeholder Comment on Draft Strategic Plan
July 29, 2010. The AcSB issued an Invitation to Comment, Accounting Standards in Canada: Building on New Directions 2011-2014. Webinar — Reporting Comprehensive Income: One Statement or Two?
July 29, 2010. Take part in a free webinar on Tuesday, August 10, 2010 at 12:30 EDT on proposed changes to how an entity presents income and expenses recognized in the period. This webinar will be of interest to preparers, auditors and users of financial statements of publicly accountable enterprises and other entities adopting IFRSs. Adoption of IFRSs by Entities with Rate-regulated Activities
July 28, 2010. The AcSB has issued an Exposure Draft proposing that qualifying entities with rate-regulated activities be permitted to defer the adoption of IFRSs by two years. Comments, on the form provided, are requested by August 31, 2010. Fair Value Option for Financial Liabilities
July 27, 2010. AcSB staff has submitted a comment letter responding to the IASB’s Exposure Draft. AcSB July 23, 2010 Decision Summary
July 26, 2010. An executive summary of discussions and decisions with respect to the topic addressed at this meeting: Rate-regulated Activities. Measurement Uncertainty Analysis Disclosure for Fair Value Measurements (Limited re-exposure of proposed disclosure)
July 22, 2010. The AcSB has issued an Exposure Draft (ED) that corresponds to the IASB’s ED on this topic. Comments, on the form provided, are requested by September 7, 2010. Draft Strategic Plan for 2011-2014
July 21, 2010. The AcSB has issued an Invitation to Comment on a draft of a new strategic plan outlining the broad policy objectives that will guide it in carrying out its standard-setting mandate. Comments, on the form provided, are requested by September 30, 2010. AcSB July 14, 2010 Decision Summary
July 20, 2010. An executive summary of discussions and decisions with respect to the topics addressed at this meeting: Extractive Activities; Financial Instruments; Rate-regulated Activities; Accounting Standards for Private Enterprises. Financial Instruments: Amortised Cost and Impairment
July 13, 2010. The AcSB has submitted a comment letter responding to the IASB’s Exposure Draft. IFRS Discussion Group
July 12, 2010. The next meeting of the IFRS Discussion Group (IDG) will be held on September 16th, 2010 in Calgary. Individuals are encouraged to submit issues relating to the application of IFRSs in Canada by August 4th for consideration at this meeting. For further information see Submission of Issues. Private Enterprise Advisory Committee — Meeting notes
July 6, 2010. At its inaugural meeting on June 15, 2010, the Private Enterprise Advisory Committee (PEAC) discussed various issues in respect of the accounting standards for private enterprises. The meeting notes are a summary of discussions held. Fair Value Measurements — Measurement Uncertainty Analysis Disclosure
July 6, 2010. The IASB has issued an Exposure Draft re-exposing its disclosure proposal on Level 3 fair value measurements. The comment deadline is September 7, 2010. Revenue from Contracts with Customers
July 6, 2010. The IASB has issued an Exposure Draft proposing a single revenue recognition standard that would be applied across various industries and capital markets. The comment deadline is October 22, 2010. Adoption of IFRSs by Investment Companies
June 30, 2010. The AcSB has issued an Exposure Draft proposing that investment companies can defer the adoption of IFRSs by one year. Comments, on the form provided, are requested by August 23, 2010. IFRS Canadian GAAP Comparison
June 29, 2010. The AcSB has issued an update to its comparison of International Financial Reporting Standards and Canadian standards as of December 31, 2009. IFRS Discussion Group — Report on Public Meeting
June 29, 2010. At its June meeting, the IFRS Discussion Group (IDG) discussed various issues arising from the application of IFRSs in Canada. The meeting notes are a summary of the discussion and should be reviewed in conjunction with the archived audio webcast of the meeting. AcSB June 16, 2010 Decision Summary
June 23, 2010. An executive summary of discussions and decisions with respect to the topics addressed at this meeting: International Activities; Pension Plans — Scope Amendment; Not-for-Profit Organizations — Accounting for Intangible Assets. Pension Plans
June 18, 2010. A Background Information and Basis for Conclusions document is now available. AcSB and PSAB Seeking New Task Force Members
June 18, 2010. The AcSB and PSAB are currently seeking members to appoint to a new Joint Not-for-Profit Task Force. Accounting Standards for Private Enterprises
June 15, 2010. A Background Information and Basis for Conclusions document is now available. Financial Statement Presentation — Other Comprehensive Income
June 14, 2010. The AcSB has issued an Exposure Draft (ED) that corresponds to the IASB’s ED on this topic. Comments, on the form provided, are requested by September 30, 2010. Fair Value Option for Financial Liabilities
June 14, 2010. The AcSB has issued an Exposure Draft (ED) that corresponds to the IASB’s ED on this topic. Comments, on the form provided, are requested by July 16, 2010. AcSB supports IASB/FASB Extension of Convergence Timeline to Permit Increased Stakeholder Participation
June 10, 2010. The AcSB applauds the joint announcement of the International Accounting Standards Board and the US Financial Accounting Standards Board to extend their convergence timeline beyond June 2011. FYI Newsletter June 2010
June 7, 2010. The June issue includes the message from the Chair and articles on other topics of interest to stakeholders. IFRS Discussion Group — June meeting
June 3, 2010. An archive of the audio webcast of the IFRS Discussion Group’s (IDG) meeting on June 1, 2010 is now available. Post-employment Benefits
June 2, 2010. The AcSB has issued an Exposure Draft (ED), "Defined Benefit Plans (Proposed amendments to IAS 19)," that corresponds to the IASB's ED on this topic. Comments, on the form provided, are requested by September 6, 2010. Archived News |