At its meeting on June 22, 2017, the AcSB received an update on additional stakeholder feedback received and confirmed that the initial measurement of related party financial instruments will continue to be included in the scope of the project. In that regard, the Board discussed possible initial measurement concepts for related party financial instruments, and directed the staff to explore further how those concepts can be described. The Board also decided on the approach to the accounting for impairment and forgiveness of related party financial instruments. The Board will consider the remaining issues and next steps, as well as the project timeline to issue an exposure draft by no later than the fourth quarter of 2017, at its next meeting.

Review the Executive Summary on the AcSB's Web site.