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.