Post-implementation Review of Section 3856 - AcSB

Date recorded:

At its meeting on May 16, 2017, the AcSB considered feedback received from the “Post-implementation Review of Section 3856, Financial Instruments” and additional targeted advice from members of its Private Enterprise Advisory Committee on alternatives to resolve the following narrow-scope issues:

  • Initial measurement of related party financial instruments
  • Measurement of related party compound financial instruments
  • Classification of impairment and forgiveness of related party loans
  • Scope of accounting for modifications and extinguishments of related party loans
  • Usefulness of financial instrument risk disclosures
  • Application by not-for-profit organizations

The Board will issue an exposure draft on these narrow-scope issues no later than the fourth quarter of 2017.

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

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