Assets, contingent assets and contractual rights

Published on: Nov 30, 2016

There are also a number of new standards that are effective April 1, 2017 related to assets. These new standards are PS 3210 Assets, PS 3320 Contingent Assets and PS 3380 Contractual Rights. Early adoption of these standards is permitted. The goal of the first, PS 3210 Assets, is to provide additional guidance on the definition of an asset, as well as the associated recognition and disclosure requirements. PS 3320 Contingent Assets and PS 3380 Contractual Rights establishes requirements on when and what to disclose when there is a contingent asset or contractual right.


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