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2018 Annual Improvements – AcSB

Date recorded:

At its meeting on June 19, 2018, the AcSB considered the advice of its Private Enterprise Advisory Committee relating to proposals to amend Section 3465 and Section 3051/3056. Re Section 3465, the Board decided (i) to remove the example in Section 3465, which is no longer applicable given recent changes to the Income Tax Act (Canada); and  (ii) to require enterprises using the future income taxes method to present future income tax assets and liabilities as non-current and to disclose the amount of future income tax assets and liabilities.  Re Section 3051/3056, the Board decided to clarify the applicability of the cost-method guidance in Section 3051, Investments, by proposing that paragraph 3051.07A should be applied to interests in jointly controlled enterprises that are accounted for using the cost method. The Board directed staff to begin the balloting process for the proposals and plans to issue an exposure draft in September 2018 with comments due in December 2018.R

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

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

Correction list for hyphenation

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