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Part II Prioritization Survey - AcSB

Date recorded:

At its meeting on March 21-22, 2017, the AcSB noted that it is currently conducting research and targeted outreach with stakeholders to gain a better understanding of the issues relating to the following topics: (i) Section 3840, Related Party Transactions; (ii) Section 1000, Financial Statement Concepts; (iii) Section 3400, Revenue; and (iv) the benefit of amortizing goodwill and providing relief from the recognition of intangible assets on business combinations. The AcSB is also considering the following topics in its priorities for Part II: (a) clarifying the definition of a business; (b) including guidance on determining functional currency; and (c) Section 3856, Financial Instruments: fair value measurement, hedge accounting, derecognition and classification of equity and financial liabilities.

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

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