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Private Enterprise Advisory Committee Meeting Notes – October 6, 2015

Start date:

End date:

Location: Toronto

On November 27, 2015, the Accounting Standards Board released a summary of the discussions held during the Committee’s meeting.

The following topics were addressed at the meeting:

2016 Annual Improvements – General
Items to Be Considered as Part of the 2016 Annual Improvements

  • Disclosure of Accounting Policies – Location of Accounting Policies Note
  • Leases – Disclosure of Carrying Amount of Impaired Operating Lease Receivables

Items to Be Addressed but Considered to Be Outside the Scope of the Annual Improvement Process

  • Inventory – Disclosure of Write-down or Reversal of a Previously Recognized Write-down
  • Leases – Disclosure of Credit Risk
  • Related Party Transactions – Measurement of Related Party Transactions for Not-for-Profit Organizations
  • Issues Raised by Respondents during the AcSB’s 2014 Strategic Initiative Consultations

Timing of the Annual Improvements Process

2016 Annual Improvements – Financial Instruments
Items to Be Considered as Part of the 2016 Annual Improvements

  • Related Party Transactions – Scope of Accounting for Related Party Financial Assets and Financial Liabilities after Initial Recognition
  • Clarification of Accounting Requirements for Embedded Derivatives

Items that Require Further Analysis to Determine Whether They Could Be Addressed as an Annual Improvement

  • Subsequent Measurement – Identification of Whether Certain Instruments Are Considered to Be Traded in an Active Market
  • Derecognition of Liabilities – Scope of Accounting for Modifications and Extinguishments of Related Party Financial Liabilities
  • Disclosure – Clarification of Certain Disclosure Requirements

Employee Future Benefits
Redeemable Preferred Shares Issued in a Tax Planning Arrangement
The AASB’s Next Strategic Plan
The AcSB’s Next Strategic Plan
Effects Analysis

Review the meeting notes on the AcSB's Web site.

Related Topics

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