At its meeting on June 19, 2018, the AcSB continued discussing feedback from stakeholders and the recommendations from its Private Enterprise Advisory Committee on its Exposure Draft. The Board decided the following (i) Debt instruments quoted in an active market and with observable inputs, issued or exchanged in a related party transaction, should be initially measured at fair value. The Board also decided to provide an accounting policy choice to subsequently measure these instruments at fair value or amortized cost. (ii) Debt instruments not quoted in an active market and without observable inputs, issued or exchanged in a related party transaction, should be initially and subsequently measured at cost. (iii) Guidance on the initial and subsequent measurement of indexed related party financial liabilities should be issued. (iv) Not-for-profit organizations should recognize the forgiveness of related party financial assets in the statement of operations. The Board plans to issue the final amendments no later than the fourth quarter of 2018.

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