Post-implementation Review of Section 3856 – AcSB

Date recorded:

At its meeting on May 15, 2018, the AcSB continued discussing feedback from stakeholders and the recommendations from its PEAC on its Exposure Draft. The Board considered proposed drafting changes relating to:

  1. the initial measurement of various elements in a related party transaction, including both financial and non-financial assets and liabilities;
  2. the accounting for differences in the amounts recorded for the consideration exchanged in a related party transaction involving financial instruments; and
  3. the impairment of related party financial instruments. The Board will continue deliberating the feedback received in its June 2018 meeting and plans to issue the final amendments no later than the fourth quarter of 2018.

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

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